Market Currents

• Tuesday, December 8, 2009

• 10:46 AM While the big banks go to battle to unshackle themselves from TARP's chains, regional lenders (SNV, ZION, RF) choking on real-estate loans are unlikely to be exiting TARP any time soon. Regional banks are almost four times more concentrated in CRE loans than the biggest lenders. 2 Comments

• Wednesday, December 2, 2009

• 08:56 AM U.S. bank stocks face above-average risks, Citigroup says, recommending investors "remain very selective" and focus on banks "that have strong capital positions, while avoiding banks with the combination of relatively high commercial real estate exposure and questionable capital strength." Citi's choice banks: BBT, FITB, BAC, STI. Duds: ZION, RF, KEY. 4 Comments

• Monday, November 23, 2009

• 10:22 AM Zions Bancorp (ZION) +14.6% after announcing a plan to swap $140M of preferred shares for 7M common shares as it looks to boost its equity ratios. The offer, while a nearly 50% discount to face value, is close to a 25% premium to where the preferreds were trading Friday. 1 Comment
• 09:00 AM Premarket gainers: SEED +40%. FIF +36%. DDRX +28%. LDK +15%. TSEM +11%. FEED +10%. INO +7%. ZION +7%. HL +5%. AIB +4%. PBCT +4%. ING +4%. ANN +4%. VVUS +4%.
  Losers: CEPH -8%. CIEN -6%. 1 Comment

• Monday, October 19, 2009

• 16:25 PM Zions Bancorp (ZION): Q3 EPS of -$1.41 misses by $0.17. Revenue of $753M (+29%) vs. $633M. Shares -0.9% AH. (PR) Comment!
• 00:10 AM Notable post-market earnings: AAPL, ATHR, BSX, JDAS, LNCR, PKG, STLD, TXN, UDR, VLTR, WERN, ZION Comment!

• Tuesday, July 21, 2009

• 09:00 AM Premarket gainers: JDAS +25%. INCY +18%. AKRX +12%. CAT +12%. CIT +7%. SPPI -7%. IP +7%. UAUA +6%. HEB +6%. CTIC +5%. JOYG +5%. YGE +5%. LVS +5%. JASO +5%. MGM +5%. AIB +5%. SOL +4%. WYNN +4%. DE +4%. MRK +4%. TSTR +4%. MON +4%. DOW +4%.
  Losers: RF -11%. LXK -11%. ZION -7%. AKS -5%. STT -4%. SAY -4%. Comment!

• Monday, July 20, 2009

• 16:19 PM Zions Bancorp (ZION): Q2 EPS of -$0.35 beats by $0.67. Taxable-equivalent revenue of $1.1B (+93%). Shares +3.2% AH. (PR) Comment!
• 13:19 PM Analysts expect bad news on commercial real estate from banks reporting earnings this week - Regions (RF), KeyCorp (KEY) and Zions (ZION), heavily invested in the sector, are expected to combine for more than $400M in Q2 losses. Zions reports after closing today; Regions before open tomorrow and KeyCorp on Wednesday. Comment!
• 00:10 AM Notable earnings after Monday's close: BSX, CNI, LM, MDRX, PKG, SY, TXN, WERN, ZION Comment!

• Monday, July 13, 2009

• 09:58 AM Zions Bancorp (ZION) is +3.5% after Credit Suisse analysts raised their Q2 earnings estimates to $1.79/share, saying consensus of $0.95 doesn't reflect Zions' gains from buying back its preferred shares and other moves. Comment!

• Wednesday, May 20, 2009

• 09:00 AM Pre-market gainers: PRGN +28%. IRE +21%. IGLD +15%. ANPI +14%. ADI +12%. TLB +12%. BEXP +12%. TTM +10%. AIB +7%. SQNM +6%. GM +6%. CNB +9%. EGLE +6%. HBAN +5%. CIT +5%. JASO +5%. CDE +5%. AMD +5%. TGT +5%. SOL +5%. THC +5%. ZION +5%. DB +4%.
  Losers: RF -7%. FST -5%. NTES -5%. HPQ -4%. Comment!

• Wednesday, May 13, 2009

• 13:15 PM S&P leaders: GM +7%. MRK +3%. PFE +3%. FHN +3%. JEC +3%. Laggards: GNW -24%. LIZ -23%. ODP -18%. MTG -16%. FITB -15%. DDR -15%. HBAN -14%. AKS -14%. HIG -13%. ATI -12%. GT -12%. ACAS -12%. IP -12%. MI -12%. MTW -12%. AIG -12%. RF -11%. JNY -11%. UIS -11%. PLD -11%. DOW -10%. CBG -10%. GCI -11%. MEE -10%. ZION -10%. TEL -9%. TIE -9%. LUK -9%. HAR -9%. MWV -9%. AA -9%. NUE -9%. XL -9%. WYN -9%. AIV -9%. MAS -9%. Comment!

• Thursday, May 7, 2009

• 09:03 AM Premarket gainers: VNDA +808%. VG +65%. VICL +33%. COF +18%. CNO +17%. HBAN +17%. GNW +16%. BAC +15%. FITB +14%. C +14%. AIG +14%. KFN +13%. CIT +12%. CDNS +11%. GTE +12%. KNDL +11%. CSUN +11%. DFS +9%. IRE +10%. ANF +10%. UL +10%. LNC +10%. DDR +10%. MFG +9%. HIG +8%. CNB +9%. UCBH +9%. SIG +8%. STT +8%. PRU +8%. CPSL +8%. GCI +7%. ETFC +7%. ONNN +7%. ACAS +7%. ERX +7%. CVC +6%. PRGN +6%. ZION +6%. DRYS +6%. BK +6%. Comment!

• Tuesday, April 21, 2009

• 09:00 AM Premarket gainers: ELX +43%. THC +23%. COH +8%. HOGS +7%. GM +5%. UNH +4%.
  Losers: ZION -24%. HBAN -23%. FITB -16%. NTRS -14%. KEY -12%. BJS -12%. RF -12%. MGM -11%. ETFC -11%. IFX -11%. BAC -10%. BRCM -9%. BK -9%. C -8%. DT -8%. STT -8%. LVS -7%. DOW -6%. APOL -6%. STI -6%. COF -5%. PUK -5%. HIG -5%. CAT -5%. PNC -5%. Comment!

• Monday, April 20, 2009

• 15:10 PM Notable earnings after Monday's close: BRO, BSX, BXS, CNI, IBM, PKG, SYK, TXN, ZION 1 Comment