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Financial Select Sector SPDR ETF (XLF)

  • Aug. 1, 2011, 4:49 AM
    Major European hedge fund Lansdowne Partners has reportedly sold its entire $850M stake in Goldman Sachs (GS), underlining concerns about banking prospects due to regulatory changes. The divestiture has echoes of Lansdowne's exit from the industry in 2008, ahead of the financial crisis.
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  • Jul. 25, 2011, 3:39 PM
    Even if a U.S. debt downgrade might not be the end of the world - if Japan's track record is any guide - certain sectors could suffer. Big banks (XLF -0.6%), whose credit ratings get a boost from the implied support of the U.S. government, could feel pain with a downgrade of their sugar daddy. Big banks are also massive holders of Treasury debt. BAC -1.2%, JPM -1%, C -0.7%.
  • Jul. 19, 2011, 12:46 PM
    Tony Pallotta cuts through the noise of the TBTF bank earnings: Income before provisions continues on a downward slope - "banks are simply generating less income." More importantly, loan loss reserves are falling even as home prices drop and unemployment remains high - a questionable padding of income.
  • Jul. 18, 2011, 3:43 PM
    Some say Bank of America (BAC) shares are oversold a day before Q2 results are out, but the stock was similarly oversold the last time it reported quarterly results; it fell 2.4% that day, and gapped even lower the next session. BofA -2.6% at $9.74, off a two-year low of $9.53 intraday (also). Financials (XLF -1.5%) lower across the board; European banks fare even worse.
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  • Jul. 18, 2011, 10:26 AM
    BofA (BAC -2.7%) needs to increase its capital cushion to as high as $50B to overcome mortgage losses, analysts say. The extra settlement and writedown costs may put a monkey wrench in the plans of CEO Brian Moynihan to reward shareholders with a dividend hike due to the new  capital ratio regs now in place.
  • Jul. 15, 2011, 9:08 AM
    Citigroup (C) remains on track to meet Basel III requirements and reward investors with dividends and share buy-backs. The firm's CFO says it expects to return capital to shareholders next year, and stay within its target Tier 1 Common Capital Ratio. Shares +3% premarket.
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  • Jul. 14, 2011, 9:42 AM
    As analysts weigh the pros and cons of JPMorgan Chase's (JPM) Q2 earnings beat, it's worth noting that the bank's knack for topping Wall Street estimates hasn’t given its share price much of a quick boost in recent years. JPM has beaten forecasts each of the past 10 quarters, but the stock has benefited only once. Today, so far, so good, as shares +2.9% and lifting bank stocks (XLF +0.5%).
  • Jul. 13, 2011, 5:29 PM
    Though the S&P 500 may still be well below its 10/07 high of 1576, thanks in large part to weak performance from financials, Mark Smith (a.k.a. Trader Mark) points out that the industrial, technology, and consumer discretionary sectors, as measured by their SPDR ETFs, have more or less made it back.
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  • Jul. 12, 2011, 2:43 PM
    Banks find a new revenue stream by selling consumer shopping habits - actual data, not just general trends and averages - to retailers in a bid to get ahead of Groupon and LivingSocial in the multi-billion dollar daily deals industry. Forecasts see $1.7B in annual revenue for card issuers by 2015. Already in the game: WF, C, DFS.
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  • Jul. 11, 2011, 2:26 PM
    Analysts expect more bad news later this week for investment banks, already stinging from Europe contagion, when earnings come in. Research from Credit Suisse suggests 1Q trading revenue could be 25% lower. Banks are mired in red: BAC -3%, JPM -2.8%, C -3.8%, WFC -2.1%, MS -2.8%, GS -1.6%.
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  • Jul. 11, 2011, 11:31 AM
    Those "cheap" bank stocks (XLF -2.3%) just keep getting cheaper, among the biggest decliners today on the specter of debt crises on both sides of the Atlantic. It could get even worse, as big banks begin to report Q2 results later this week amid expectations of Q/Q revenue drops averaging as much as 25%. A sea of red: JPM -3%, BAC -2.8%, C -3.6%WFC -2.4%.
  • Jul. 8, 2011, 1:15 PM
    Financial stocks (XLF -1.6%) are weak after the dismal jobs report, as would be expected, but shares also are hampered after two more analysts whack Q2 earnings expectations for Goldman Sachs (GS -1.2%) and Morgan Stanley (MS -3.1%). Ticonderoga lowers its MS price target to $26 from $31. Banks are awash in a sea of red: BAC -2%, JPM -1.6%, WFC -1.6%, C -1.4%.
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  • Jul. 7, 2011, 9:52 AM
    Quite a boo-boo: The NY Post issues a correction to its story yesterday about a mortgage settlement with federal regulators and state AGS that could cost banks $60B; it now says the correct figure is more like $25B. Bank stocks (XLF +1.3%) rally: JPM +2.3%, WFC +2%, BAC +1.4%, C +1.2%.
  • Jul. 6, 2011, 10:10 AM
    Financial stocks (XLF -1.1%) are again a drag on the broader Dow, after Portuguese and Spanish banks tumble on the Moody's downgrade of Portugal's sovereign debt rating to junk. Also, China's rate hike reawakens concerns that slower growth in China could weigh on the global economy. BAC -2.4%, WFC -2%, C -2%, JPM -1.5%.
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  • Jun. 30, 2011, 9:43 AM
    Known for his bearish commentary on Goldman Sachs (GS), Dick Bove is making a bullish call on bank stocks. His reasons include the BAC settlement, positive housing data, healthy balance sheets, a diminishing spread between high yield and high grade bonds, and the Fed's recent debit card fee ruling.
  • Jun. 29, 2011, 9:54 AM
    Financial stocks (XLF +1.1%) surge to the top of the early leader board after Bank of America's (BAC +3.1%) deal to pay an $8.5B settlement to mortgage investors. Prevailing sentiment: "If BofA can settle on $424B of bonds for $8.5B, that’s 2%, which is a screaming bargain." Also: C +2.4%, JPM +2.1%, WFC +1.2%.
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XLF Description
The Financial Select Sector SPDR® Fund, before expenses, seeks to closely match the returns and characteristics of the Financial Select Sector Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
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Sector: Financial
Country: United States
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