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Financial Select Sector SPDR ETF (XLF)

- NYSEARCA
  • Dec. 14, 2010, 1:09 PM
    The FDIC is proposing that all banks comply with the same minimum-capital standards - particularly big banks that argued they should hold less because of superior diversification, and "produced models that were overly optimistic and ultimately required massive federal assistance," Chairman Sheila Bair says.
    | 4 Comments
  • Dec. 13, 2010, 10:43 AM
    Noting the WikiLeaks hackers' limited success so far in crashing sites, investors should "buy every dip" on Amazon (AMZN) and eBay (EBAY) that's based on any resurgent attack rumors, says Formula Capital. It also recommends Cisco (CSCO), given it offers technology to fight these denial of services assaults.
    | Comment!
  • Dec. 5, 2010, 3:40 AM
    The PolyCapitalist calls for consumer activism to solve "Too Big to Fail," where regulators have utterly failed: "Most of us are bank customers, which makes putting an end to Too Bigger to Fail quite simple: all we have to do is take our banking business somewhere else."
    | 29 Comments
  • Dec. 2, 2010, 11:29 AM
    For the first time since 2008, Goldman Sachs goes positive on financials, upgrading its rating on the sector to Overweight and making the KBW Bank Index (BKX) a factor in its "top trades." The firm sees improvement in loan demand, capital clarity and capital markets activity, and expects pressure on long-term rates to subside. (earlier)
    | 2 Comments
  • Nov. 23, 2010, 8:22 AM
    Falling profits and tighter margins will prompt banks to close 5,000 branches nationwide in the next 18 months, says Meredith Whitney, or roughly 6% of the country's branches. As many as 41M U.S. households won't have access to banking services, up from 30M last year.
    | 5 Comments
  • Nov. 22, 2010, 10:10 AM
    Financial stocks slide on concerns about the potentially far-reaching government probe into possible insider trading. Goldman Sachs (GS -3.4%) is under particular scrutiny to determine if bankers leaked information about health care mergers and other transactions. MS -2.9%, CS -2.2%, UBS -2%, DB -1.8%, BAC -1.5%, JPM -1.5%. (ETF: XLF)
    | 1 Comment
  • Nov. 22, 2010, 7:55 AM
    U.S. banks face as much as a $150B capital shortfall once Basel III goes into effect, according to a BarCap study that assumes a tier one capital ratio of 8%. The country's top 35 banks will also need to come up with another $500B in cash and easy-to-sell assets to meet liquidity requirements that take effect in 2015.
    | 2 Comments
  • Nov. 16, 2010, 8:40 AM
    A new congressional report questions whether mortgage securitization flaws created extra liabilities for major banks. In a bleak worst-case scenario, judges could block foreclosure, the housing market could face wide-scale disruptions, and banks would be on the hook for billions of dollars in losses. (see also)
    | 6 Comments
  • Oct. 26, 2010, 9:46 AM
    Revenue is shrinking at U.S. banks and may continue to fall as the industry grapples with a new, tougher regulatory environment. Credit Agricole analyst Mike Mayo says investors should brace for a decade that will bring the “worst revenue growth” for U.S. banks in 80 years.
    | 3 Comments
  • Oct. 19, 2010, 2:23 PM
    Financial stocks slip further on reports that Pimco, BlackRock (BLK -1.4%) and the Federal Reserve Bank of New York are pressuring Bank of America (BAC -2.7%) to repurchase soured mortgages packaged into $47B of bonds by its Countrywide unit. (ETF: XLF)
    | 6 Comments
  • Oct. 16, 2010, 2:32 PM
    BofA (BAC) said the costs of foreclosure delays have been "grossly distorted," but Dick Bove isn't convinced. He thinks banks could face losses of more than $80B, not so much because of a halt in foreclosures but because of the investor and homeowner lawsuits that will almost certainly follow.
    | 19 Comments
  • Oct. 13, 2010, 2:52 PM
    Financial Select Sector SPDR (XLF) paid out $0.26/share in dividends in Q4 2007, and recently the payout has been more like $0.03; at some point we're going to get higher dividends from financials, Eddy Elfenbein says.
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  • Oct. 13, 2010, 1:51 PM
    Better-than-expected earnings from Intel (INTC -1.6%) and JPMorgan Chase (JPM -1.1%) are supporting a positive sentiment to the broader market today, as well as the tech and financial sectors, but the results haven't done anything to support the shares themselves. Instead, sellers appear to be locking in gains made ahead of the reports.
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  • Oct. 13, 2010, 8:58 AM
    JPMorgan's (JPM +1.3%) results are giving financials a boost: DB +3.3%, CS +2.7%, UBS +2.05%, FITB +2.55%, BAC +1%, MS +1.1%, C +0.9%, GS +1%, WFC +0.85%.
    | Comment!
  • Sep. 29, 2010, 10:11 AM
    Prudential (PRU +2.5%) will soon announce a deal to buy two Japanese life insurance units from AIG (AIG +0.2%) for a total of $4.8B, Dow Jones reports. Shares of most other financial companies are down so far this morning (ETF: XLF).
    | 1 Comment
  • Sep. 20, 2010, 12:40 PM
    Stock offerings down 15%, bond issuance down 25%, revenue slipping - Wall Street's still making plenty but its main businesses are slowing down, causing analysts to revisit their profit forecasts for financials.
    | 4 Comments
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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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