Market Currents

• Monday, November 3, 2008

• 08:47 AM Premarket losers: TCL -8%. AEG -6%. NCC -6%. UBS -5%. Comment!

• Friday, October 24, 2008

• 09:56 AM National City (NCC) -22.3% to $2.14. PNC Financial Services (PNC) +1.05%. Comment!
• 09:33 AM PNC Financial Services (PNC)  is buying National City (NCC) for $2.23/share. Paying .0392 shares PNC for each NCC share.  Total payment is $5.2B in stock plus $384M in cash to certain warrant holders. Under TARP, PNC is also issuing $7.7b in preferred shares to U.S. Treasury. [PR] Comment!

• Tuesday, October 21, 2008

• 08:35 AM National City Corp. (NCC): Q3 EPS of ($0.85) misses by $0.54.  [PR] Comment!
• 01:05 AM Notable earnings before Tuesday's open: AKS, ALV, AVY, BIIB, CAT, CE, COH, DD, DGX, EAT, FITB, FRX, GNTX, JEF, KEY, LMT, LXK, MAN, MICC, MMM, MTB, NCC, OMC, PCAR, PCP, PFE, RF, SGP, SY, TLAB, UAUA, USB, WAT, WBS, WU Comment!

• Thursday, October 9, 2008

• 07:41 AM National City is in talks with potential acquirers, WSJ says, naming [[PNC]] and [[BNS]] among the suitors. [[NCC]] is up 20% in premarket trading. Comment!

• Thursday, October 2, 2008

• 09:09 AM Premarket gainers: CEG +11%. NCC +10%. SLM +8%. KBR +8%. SQNM +7%. ABK +6%. RF +5%. DAL +5%. CAL +5%. Comment!

• Monday, September 29, 2008

• 12:09 PM Dow laggards: [[NCC]] -46.36%. [[AED]]-38.34%. [[SOV]] -36.8%. [[FITB]] -30.26%. [[FHN]] -28.75%. Comment!

• Friday, September 26, 2008

• 17:56 PM David Gaffen on why wolves are circling National City (NCC). Comment!
• 12:29 PM Also being bit by the banking bear: National City Corp. (NCC), -52.32% to 2.43. Comment!

• Friday, September 19, 2008

• 08:36 AM Pre-market gainers - where to start? MS +54%. AIG +52%. NCC +36%. WM +35%. WB +35%. GS +34%. C +26%. MER +25%. BAC +19%. RBS +19%. ABK +19%. ETFC +18%. MBI +16%. UBS +16%. WFC +15%. BK +15%. JPM +14%. ORCL +12%. GM +13%. LYG +10%. GE +10%. COF +10%. RIMM +9%. ING +7%. BHP +7%. AAPL +7%. Comment!

• Thursday, September 4, 2008

• 06:55 AM National City (NCC), in an effort to reduce its exposure to risky debt, is offering customers $200 to close down their home-equity lines. Analysts say other banks could mimic the deal if it works. Comment!

• Tuesday, August 19, 2008

• 14:03 PM Bondholders show regional banks no respect as they bet on defaults. "There's still a lot of potential shoes to drop." (Stocks: NCC, KEY, FITB. ETF: RKH) Comment!

• Wednesday, July 30, 2008

• 11:49 AM 100 lenders have suspended student loans, leaving many stranded. Spotting an opportunity, big boys are expanding (C, DFS, JPM, NCC, PNC, SLM, USB). Comment!

• Thursday, July 24, 2008

• 06:30 AM National City (NCC): Q2 EPS of -$2.45 (-$1.8B) vs. consensus of -$0.26. Provisions for loan losses rose to $1.59B from $145M a year ago and $1.39B in Q1. [PR] Comment!
• 00:03 AM Notable earnings before Thursday's open II: LEE, LH, LLL, LLY, LUV, LVLT, MHS, MMM, MNI, MWV, NCC, NEM, ORI, OXY, PCZ, PENN, PLD, POT, REDF, RGC, ROH, RSH, RTN, SI, SII, SNA, SNV, SU, TASR, TMO, TRA, TRAD, TSCM, UNP, UST, XRX Comment!