Seeking Alpha

Societe Generale ADR (SCGLY)

- OTCPK - Current
  • Jul. 29, 2013, 9:46 AM
    • Caterpillar (CAT +1.3%) agrees to repurchase $1B in stock from Societe Generale (SCGLF.PK).
    • Caterpillar expects to complete the buyback in September.
    • The deal brings Caterpillar's total repurchases to $2B in 2013 after it announced a similar $1B buyback in April. That deal was completed in June. (PR)
  • Jul. 17, 2013, 12:53 PM
    The major French banks - including Societe Generale (SCGLY.PK), BNP Paribas (BNPQY.PK), and Credit Agricole (CRARY.PK) - are downgraded by Fitch following the downgrade of the sovereign to AA+ last week.
    | Comment!
  • Jul. 3, 2013, 8:03 AM
    A check on some European banks (EUFN) as the EU debt crisis comes back to the front pages: Banco Santander (SAN) -3.5%, Deutsche Bank (DB) -2.3%, National Bank of Greece (NBG) -5.2% premarket. Commerzbank (CRZBY.PK) -5.3% in Frankfurt, Societe Generale (SCGLY.PK) -2.9% in Paris.
    | Comment!
  • May. 7, 2013, 6:55 AM
    Société Générale (SCGLF.PK): Net profit falls 50% Y/Y to €364M, beating by €47M. Net income in corporate and investment banking rises 41% to €494M beating estimates. Revenue takes a €1B hit on accounting change related to the revaluation of debt. Tier 1 capital is 8.7%.
  • Apr. 22, 2013, 12:19 PM
    New regulations here and across the pond will eliminate $17B of trading revenue from the global banks, says Deutsche Bank - about 9% of total sales last year. The costs will be onerous enough, says Deutsche, as to maybe force the departure from FICC (bonds, commodities, currencies) trading of any firm with less than 6% market share. At risk: HBC, RBS, CS, MS, SCGLY.PK. UBS has already exited.
  • Apr. 18, 2013, 10:50 AM
    Contributing to a big reversal from early gains in Europe and in U.S. futures is a rumor Societe Generale (SCGLY.PK -4%) is in trouble. The CAC-40 (EWQ) is flat after being up about 1%.
  • Mar. 18, 2013, 5:10 AM
    European bank shares slide following news of the levy on deposits in Cyprus, which has prompted concerns of a run on banks elsewhere in the eurozone. The Stoxx Europe 600 Banks index -2.1%. In Madrid, BBVA -3.7%; in Milan, Banca Popolare di Milano -3.9%, Intesa Sanpaolo -3.3%, Mediobanca -4.6%, Banca Monte dei Paschi di Siena -3.8%. In Paris, SocGen -4.2%, Credit Agricole -2.9%, BNP Paribas -3.3%. In Frankfurt, Deutsche Bank (DB) -2.8%.
    | Comment!
  • Mar. 13, 2013, 5:25 PM
    Moving on from Libor, the CFTC is reportedly having an informal look at whether the London fix for gold and silver is open to manipulation. Gold prices are set twice daily by five banks via teleconference (silver by 3), with the fixings then used worldwide as benchmarks for any number of transactions. The banks involved: BCS, DB, HBC, BNS, SCGLY.PK.
  • Jan. 25, 2013, 7:50 AM
    BlackRock likes Societe Generale (SCGLY.PK), with regulations forcing the fund manager to report its stake in the French lender has risen above 5%.
    | 1 Comment
  • Jan. 18, 2013, 12:31 PM
    Crisis over? BNP Paribas and Societe Generale could begin repaying their ECB LTRO loans within weeks, reports Bloomberg. With the easing of financial pressure, the banks have been able to raise money the old-fashioned way at rates comparable to what the ECB charges.
    | Comment!
  • Oct. 26, 2012, 8:36 AM
    Paris is busily rebounding from S&P's negative rating actions on the French banks overnight. BNP Paribas (BNPQY.PK) was cut to A+ from AA-, while SocGen (SCGLY.PK) and Credit Agricole (CRARY.PK) were given a negative outlook. "The economic risks under which French banks operate have increased in our view." The CAC 40 +0.2% after a near 1% early decline.
    | Comment!
  • Oct. 25, 2012, 9:27 PM
    The Libor probe widens, reports the WSJ, with state subpoenas having been issued in August and September to 9 additional banks. Among the lenders receiving subpoenas are Bank of America (BAC), Credit Suisse (CS), Lloyds (LYG), and Royal Bank of Canada (RY).
  • Aug. 9, 2012, 11:03 AM
    The Carlyle Group (CG) has reached a deal to buy asset management firm TCW, reports the WSJ. The deal had been speculated upon earlier, with the price estimated in the $700M range.
    | Comment!
  • Jul. 18, 2012, 3:34 PM
    Regulators are focusing on HSBC (HBC), Deutsche Bank (DB), Societe Generale (SCGLY.PK), and Credit Agricole (CRARY.PK) in their Libor investigation, reports the FT. Investigators are checking the links between traders at those 4 banks and a Barclays trader who apparently orchestrated the manipulation effort.
    | Comment!
  • Jun. 22, 2012, 10:18 AM
    European banks' pain is other's gain: Citigroup (C) agrees to buy a portion of Societe Generale's (SCGLY.PK) shipping loan book for an undisclosed price. Cutting back where it can to raise capital, the French lender is in the midst of unloading its property, shipping, and aircraft financing activities.
    | Comment!
  • Jun. 20, 2012, 10:59 AM
    Goldman Sachs (GS) and SocGen (SCGLY.PK) could be facing further liabilities, as the Libyan Investment Authority (LIA) is investigating whether it can "claim a refund" for the $1.75B that it lost on structured products managed by the banks. (previous)
    | 1 Comment
SCGLY vs. ETF Alternatives
Company Description
Societe Generale and its subsidiaries are engaged in banking and finance activities, which are divided into three divisions: Retail Banking & Specialized Financial Services, Corporate & Investment Banking, and Asset Management, Private Banking & Securities Services: Co.'s activities are managed... More
Sector: Financial
Country: France