Market Currents

• Monday, November 30, 2009

• 07:14 AM Thirty giant financial institutions were selected by the FSB for cross-border systemic-risk oversight, and will be asked to write "living wills" that outline wind-down plans in the aftermath of a crisis. They include: AEG AXA AZ BAC BCS BFR CS DB GS HBC ING JPM MFG MTU NMR RBS RY STD UBS. 1 Comment

• Tuesday, November 3, 2009

• 09:00 AM Premarket gainers: BNI +29%. BDK +24%. KSU +11%. XOMA +7%. CSX +7%. UNP +7%. NSC +7%. SPPI +7%. BZ +6%. CTSH +5%. SWK +5%. BEXP +4%.
  Losers: HEB -17%. AIB -16%. RBS -10%. UBS -7%. HEP -6%. WYN -5%. RCL -5%. FOE -5%. CTIC -4%. VALE -4%. AEG -4%. F -4%. HGSI -4%. MGM -4%. STD -4%. MU -4%. Comment!

• Wednesday, October 14, 2009

• 09:00 AM Premarket gainers: CNO +22%. BMTI +12%. UEC +11%. ACAS +10%. PLUG +7%. FAS +6%. RTP +5%. CIEN +5%. BCS +5%. AMR +5%. AMD +5%. CRH +5%. CATY +5%. INTC +4%. ACLS +4%. CY +4%. HGSI +4%. ONNN +4%. TSFG +4%. MT +4%. GNW +4%. JPM +4%. UBS +4%. RBS +4%. ALTR +4%. NVDA +4%. STD +4%. HIG +4%. LYG +4%. GNW +4%. CTIC +4%. STM +4%. PIR +4%.
  Losers: UCBH -11%. 2 Comments

• Wednesday, October 7, 2009

• 08:32 AM Santander's (STD) spinoff of part of its Brazilian unit, the world's biggest IPO in 18 months, will bring in about $8B. Spain's biggest bank hopes to open 600 branches in Brazil by 2013, and carve out new business in lending to companies and homebuyers as it bets on Brazil's expansion while Spain wades through its worst recession in 60 years. Comment!

• Monday, September 21, 2009

• 05:01 AM Santander (STD) says it plans to raise almost €5B ($7.35B) through the previously announced IPO of 16% of its Brazilian unit. The target is well above the €2.5B analysts expected. The bulk of the proceeds will be spent opening another 600 branches in Brazil. Comment!

• Friday, September 4, 2009

• 14:10 PM Banco Santander (STD +5.3%) climbing steadily throughout today amid news it's adding 600 branches to its 2,091 in Brazil, selling a stake in the Brazilian unit and paying a November dividend. Comment!

• Monday, August 24, 2009

• 11:40 AM Santander (STD +1.6%) offers to buy back €16.5B in mortgage-backed bonds (.pdf) at discounts of 10-39%, a move analysts say could thaw the secondary market after a nearly two-year freeze. Comment!

• Wednesday, July 29, 2009

• 07:28 AM Banco Santander (STD) will spin off its Brazilian unit in an initial public offering that could raise at least $3B, creating one of the biggest publicly listed banks in Latin America. Comment!

• Sunday, July 19, 2009

• 12:06 PM Banco Santander (STD) may be the least well-known major bank among U.S. investors, writes Barron's Vito J. Racanelli, but that's likely to change as the bank continues to grow and shares continue to rise. Comment!

• Friday, June 19, 2009

• 05:33 AM Santander (STD) CEO Alfredo Saenz tells investors the euro zone's largest bank will emerge from the global financial crisis stronger than its rivals. STD has emerged from the rubble of the global downturn as a predator in both the U.S. and U.K. Here's the webcast of STD's annual general meeting. Shares +2% in Madrid. Comment!

• Tuesday, May 26, 2009

• 14:19 PM Banco Santander (STD +3.6%), one of Madoff's most active funnels, to pay $235M to settle potential claims by Madoff's bankruptcy trustee. Comment!

• Monday, May 4, 2009

• 09:00 AM Premarket gainers: KFN +17%. COT +13%. CENX +13%. CYOU +12%. LIZ +11%. ACAS +11%. S +9%. FIG +9%. PCX +8%. EGLE +8%. ETFC +8%. MPEL +7%. YGE +6%. RCL +6%. DRYS +6%. ICO +7%. SQNM +5%. CAL +5%.
  Losers: DNDN -3%. NVAX -2%. STD -2%. Comment!

• Tuesday, April 14, 2009

• 11:45 AM Bank investors should seek out stocks with healthy profits (before provision) and strong capital levels, KBW says in a note this morning, pointing to HSBC (HBC) and Santander (STD), while avoiding expensive banks like Credit Suisse (CS) and UBS (UBS). 1 Comment

• Tuesday, March 10, 2009

• 09:03 AM Premarket gainers II: STD +11%. GNW +11%. USB +10%. ETFC +10%. MT +9%. JPM +9%. DAI +9%. KB +9%. AIG +8%. DRYS +7%. EGLE +7%. STM +7%. ASML +7%. MS +6%. GM +7%. AXP +6%. NOK +6%. E +6%. CAT +6%. BHP +6%. AA +6%. PALM +5%. FRE +5%. GE +5%. Comment!

• Sunday, February 22, 2009

• 01:08 AM The catch in Santander's (STD) plan to compensate Madoff-hit customers, writes Barron's Bill Alpert, is that the "solution" on offer is a far better deal for Santander than for its clients. Comment!

• Thursday, February 19, 2009

• 09:47 AM Around 70% of Santander's (STD) clients have accepted the bank's Madoff settlement so far. Another 21-23% are still undecided. (previously I, II) Comment!