Seeking Alpha

Financial Select Sector SPDR ETF (XLF)

  • Aug. 16, 2011, 2:57 PM
    Banks (XLF -2.4%) are the day's worst-performing sector, as they continue their one-day-up, next-day-down dance. Some of today's drop likely stems from disappointment about a resolution to Europe’s problems, but banks were falling even before Merkel and Sarkozy’s lame press conference. BAC -5.3%, C -6%, JPM -2.7%, WFC -2.2%, MS -5.3%.
    | Aug. 16, 2011, 2:57 PM | 2 Comments
  • Aug. 15, 2011, 5:15 PM
    Financial stocks recouped some of their early-August losses today. Bank of America (BAC +7.9%) headlined the winners, thanks to its credit card business sale and positive news regarding its Countrywide lawsuits, but other big names also got a lift. MS +6.1%. AIG +6%. C +4.8%. WFC +3.7%. STI +5.9%. USB +3.7%.
    | Aug. 15, 2011, 5:15 PM | Comment!
  • Aug. 12, 2011, 4:20 PM
    The worst performing major financial stock this week isn't Bank of America (BAC), but Morgan Stanley (MS -7.2%). Shares are off more than 15% vs. a 12% drop for BofA. U.S. financials were notably weak today - with shorting banks being banned in Europe, traders may need to look to the States to hedge. XLF -0.8%.
    | Aug. 12, 2011, 4:20 PM | Comment!
  • Aug. 12, 2011, 3:31 PM
    Bank stocks (XLF -0.9%) fail to hold early gains, as Rochdale's Dick Bove observes that short sellers are finding U.S. targets after European opportunities are denied, adding that he believes Goldman Sachs (GS -2.1%) and Morgan Stanley (MS -5.8%) are being particularly targeted. Other losers: RF -4.4%, FITB -3.5%, JPM -2.6%.
    | Aug. 12, 2011, 3:31 PM | Comment!
  • Aug. 12, 2011, 9:47 AM
    Big banks (XLF +1.6%) open higher, putting them on track for their first consecutive days of gains in several sessions. Gains in European banks lent support to U.S. shares as investors overseas snapped up some beaten-down financials. BAC +3.8%, C +3.3%, WFC +2.6%, JPM +1.7%.
    | Aug. 12, 2011, 9:47 AM | Comment!
  • Aug. 11, 2011, 2:56 PM
    Goldman lowers its price targets on 21 banks, citing "renewed concerns surrounding the global economic outlook," and the toll low rates will take on lenders. Among those cut is Bank of America (BAC), Goldman attributing much of the recent decline to concerns about the bank being able to reach its Basel III capital position.
    | Aug. 11, 2011, 2:56 PM | Comment!
  • Aug. 10, 2011, 3:41 PM
    Bank stocks (XLF -6%) near their lows of the day: C -9.2%, BAC -8.7%, JPM -4.7%. Analysts point out that U.S. banks are much better capitalized than they were in 2008, but with European banks smashed on scary rumors of banks at death's door, investors don't seem to care right now.
    | Aug. 10, 2011, 3:41 PM | 1 Comment
  • Aug. 10, 2011, 10:41 AM
    The top U.S. financial institutions have become "zombie banks" that will need a decade to adjust to a new regulatory environment that will demand banks change focus and cut size, Meredith Whitney tells CNBC. The situation reminds her more of the 1970s than 2008 "because it's a constant beatdown... huge swings in the face of uncertainty."
    | Aug. 10, 2011, 10:41 AM | 1 Comment
  • Aug. 9, 2011, 12:54 PM
    Faint praise but they'll take it, as Citigroup (C +8.7%) now leads the bounce in financial shares (XLF +3.5%) after Oppenheimer analysts write it is much better positioned to weather a recession now than in 2008. Other banks on the Oppenheimer note’s favored list include Wells Fargo (WFC +5.1%), which was also upgraded earlier, JPM +3.3% and USB +2.5%. BAC now +7.7%.
    | Aug. 9, 2011, 12:54 PM | 1 Comment
  • Aug. 8, 2011, 4:47 PM
    S&P says its downgrade of the U.S. credit rating won't impact the credit of U.S. banks: "None of the banks we rate in the U.S. has an issuer credit rating higher than the U.S. sovereign rating. The sovereign downgrade does not alter the government support assumptions that we factor into our ratings on four banks."
    | Aug. 8, 2011, 4:47 PM | 3 Comments
  • Aug. 8, 2011, 12:46 PM
    Morgan Stanley (MS -9.3%) warns in its 10-Q quarterly report that the S&P downgrade could have a "material adverse" impact on its business. The firm also notes in it faces losses of up to $492M plus interest over two derivatives-related lawsuits, plus a $125M charge expected from a U.K. tax.
    | Aug. 8, 2011, 12:46 PM | Comment!
  • Aug. 8, 2011, 9:57 AM
    Financial stocks (XLF -2.6%) are taking it on the chin, as investors fret about the ripple effects of the S&P downgrade and news that AIG plans to seek $10B from Bank of America (BAC -8.5%) over mortgage transactions. Citigroup (C -1.2%) and JPMorgan Chase (JPM -1.8%) are among the biggest early losers. Other Dow financials: TRV -1.8%, AXP -1.5%.
    | Aug. 8, 2011, 9:57 AM | Comment!
  • Aug. 1, 2011, 11:11 AM
    Shares of First Niagara Bank (FNFG -4.5%) remain lower even after S&P affirms its BBB rating and stable outlook following the firm's announcement it will acquire 195 branches from HSBC (HBC). Fitch Ratings also weighed in with a BBB rating, citing the company's proven track record of integrating banks.
    | Aug. 1, 2011, 11:11 AM | Comment!
  • Aug. 1, 2011, 9:24 AM
    Bank stocks (XLF +1.5%) look to be poised for a strong open in the wake of the debt ceiling deal. The big four - Bank of America (BAC +3.2%), JPMorgan Chase (JPM +1.7%), Citigroup (C +2.4%) and Wells Fargo (WFC +1.6%) - are all higher in premarket action.
    | Aug. 1, 2011, 9:24 AM | Comment!
  • 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.
    | Aug. 1, 2011, 4:49 AM | Comment!
  • 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. 25, 2011, 3:39 PM | 2 Comments
Visit Seeking Alpha's
XLF vs. ETF Alternatives
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.
See more details on sponsor's website
Sector: Financial
Country: United States
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub