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Financial Select Sector SPDR ETF (XLF)

  • 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. 7, 2011, 9:52 AM | 2 Comments
  • 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%.
    | Jul. 6, 2011, 10:10 AM | 1 Comment
  • 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. 30, 2011, 9:43 AM | 2 Comments
  • 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%.
    | Jun. 29, 2011, 9:54 AM | 2 Comments
  • Jun. 28, 2011, 11:15 AM
    Mastercard (MA +2.3%) appears unfazed by an earlier attack on its website by Wikileaks activists, trading higher after Jefferies initiates it and Visa (V +1.8%) with buy ratings.
    | Jun. 28, 2011, 11:15 AM | 1 Comment
  • Jun. 27, 2011, 9:56 AM
    New Basel rules will force Citigroup (C), Bank of America (BAC) and JPMorgan Chase (JPM) to hold an additional $150B worth of capital on their balance sheets by 2019, WSJ calculates - but it could have been much worse, so financials (XLF +1%) open higher. "We see no need for major U.S. bank holding companies to raise additional capital," Credit Suisse writes.
    | Jun. 27, 2011, 9:56 AM | Comment!
  • Jun. 24, 2011, 9:04 AM
    Discussing his firm's recent performance with investors, John Paulson is sticking with his thesis that the economy is doing just fine and stocks remain cheap. He's lost money on his long bank positions, but remains bullish on the sector. Still long gold and the miners, he's especially excited about AngloGold (AU).
    | Jun. 24, 2011, 9:04 AM | 1 Comment
  • Jun. 23, 2011, 10:34 AM
    More on Discover (DFS +1.1%) earnings: Of the record quarter, CEO David Nelms credits improved loan performance allowing fewer charge-offs, meaning substantial releases of credit loss reserves could be reinvested into growth initiatives.
    | Jun. 23, 2011, 10:34 AM | 1 Comment
  • Jun. 20, 2011, 1:45 PM
    Mark Gongloff isn't buying the argument that regulatory fears are hamstringing banks into choking off economic recovery. There's too much debt already, writes Gongloff - lenders aren't lending because demand isn't there. Banks are lagging again as the rest of the market parties.
    | Jun. 20, 2011, 1:45 PM | Comment!
  • Jun. 17, 2011, 5:20 PM
    Richard Staite cuts his Q2 profit estimate for Goldman Sachs (GS) 40% due to a combination of lower trading revenues and smaller investment gains. "Given the weak environment, we expect jobs to be cut across the industry." One could be forgiven for thinking financial shares may have gone a ways towards pricing this in.
    | Jun. 17, 2011, 5:20 PM | Comment!
  • Jun. 17, 2011, 2:30 PM
    With the acquisition of ING Direct, CEO Richard Fairbanks takes Capital One (COF -0.7%) a step closer to top-tier banking status. The purchase diversifies the bank's credit-card heavy portfolio, boosts 'sticky' deposits, and brings to it a young, internet-savvy customer base.
    | Jun. 17, 2011, 2:30 PM | Comment!
  • Jun. 15, 2011, 2:10 PM
    Financials (XLF -2%) are today's hardest-hit sector, sinking to a new 2011 low amid worries that their behavior suggests the market could stay weak for a while. Among Dow financial stocks: BAC -2.1%, JPM -2.1%, TRV -1.4%, AXP -1.2%. European banks fare even worse: RBS -4%, BCS -3.7%, UBS -3%.
    | Jun. 15, 2011, 2:10 PM | Comment!
  • Jun. 14, 2011, 10:57 AM
    The FDIC approves subjecting big banks to the same minimum capital standards as community banks, doing away with big banks' ability to substitute "internal management assumptions" about how much capital they need around. It won't require new capital, Sheila Bair says, but will act as insurance "when the crisis is forgotten" that levels will be safe.
    | Jun. 14, 2011, 10:57 AM | 1 Comment
  • Jun. 13, 2011, 12:43 PM
    UBS gives a boost to Citi (C +1.8%), saying recent selling in the shares - dominated by retail investors - has exhausted itself. It's an odd stance, given the recent reverse-stock split has lowered the proportion of the small-fry's share of volume at the expense of larger institutions.
    | Jun. 13, 2011, 12:43 PM | 1 Comment
  • Jun. 10, 2011, 2:39 PM
    Financials (XLF -0.5%) pare losses following a report that big banks are likely to face an additional capital buffer of 2%-2.5%, less than the 3% initially feared. The new headline suggests the Fed is retreating a bit, given the market reaction - much needed good news for the oversold banking sector. JPM -0.1%, C +0.3%, BAC +1.8%, WFC +0.1%.
    | Jun. 10, 2011, 2:39 PM | 7 Comments
  • Jun. 10, 2011, 11:28 AM
    The Fed floats the idea of annual capital reviews for banks with over $50B in assets - including any details for dividend hikes or stock buybacks, which would require central bank approval. In effect? It's a formalization of the most recent stress test processes. Now what will Jamie Dimon (JPM) say?
    | Jun. 10, 2011, 11:28 AM | 11 Comments
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.
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Sector: Financial
Country: United States
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