U.S. stocks keep climbing but is the rally narrowing?
The major indexes were up today on Alphabet’s (GOOG) huge quarter, reported yesterday. The Standard & Poor’s 500 stock index closed ahead 0.48% and the Dow Jones Industrial Average was up 0.79% at the close. Alphabet itself finished the day with a...
Bank of America beats on earnings, confirms 25% dividend hike
Shares of Bank of America (BAC) closed 4.27% higher today after the company announced second quarter earnings of 63 cents a share, 6 cents a share above the Wall Street consensus. Revenue fell 0.9% year over year but at $22.6 billion it still exceeded the $22.5...
Reaction to JPM Chase earnings today small red flag for continued earnings season rally
The reaction to Wells Fargo (WFC) earnings released before the open this morning was perfectly fitting. The bank lagged its peers again on key metrics (revenue fell 3.1% year over year and earnings per share were down 9% as average loans fell 1%) and the stock was...
I’m adding Citigroup to my Dividend Portfolio
Citigroup (C) is among the big banks that passed the most recent stress test from the Federal Reserve. That means the bank can go ahead with its plans to raise its quarterly dividend to 45 cents from 32 cents and to buyback $17.6 billion in shares. The plan would take...
Another strong day for financials
The financial sector is up again today with the Financial Select Sector SPDR ETF (XFL) up 0.96% as of 3 p.m. New York time. This continues a strong May run for the sector that has seen the ETF climb 5.6% from May 3–after the sector spent there period from March...
Dividend Portfolio member Independent Bank beats on earnings today
Independent Bank (IBCP) reported first quarter earnings of 42 cents a share today. That’s up from 28 cents a share in the first quarter of 2017. Special items added 4 cents a share to earnings. The reduction in the bank’s tax rate thanks to the Tax Cuts...
Bank of America struggles after earnings beat, sees some traction today
On Monday Bank of America (BAC) reported first quarter earnings of 62 cents a share, 3 cents a share above Wall Street estimates. Earnings were up 51% year over year on a 4% increase of revenue to $23.1 billion. That was ahead of the consensus at $23.04 billion. Wall...
Adding Independent Bank to my Dividend Portfolio
Just in case you haven’t noticed, it’s really, really hard at the moment to find a decent dividend yield in a stock that doesn’t require taking on substantial risk. That’s what happens when you’ve got elevated asset prices after a long...
My eighth stock pick of Christmas is Bank of America–and eight maids a-milking
I’m adding shares of Bank of America (BAC) to my Dividend Portfolio today. The stock yields only 1.2% on trailing 12-month dividend payments so why am I adding it to a portfolio dedicated to beating the yield on the 10-year Treasury bond? Because Bank of America...
For shares of Bank of America and Goldman Sachs it’s all about the future
Certainly no one cheered when Bank of America (BAC) and Goldman Sachs (GS) announced big one-time hits from the recently passed tax bill, but as with JP Morgan Chase (JPM) and Wells Fargo (WFC) last week, the big deal for investors was what these huge financial...
No signs of danger to HDFC Bank from India’s online revolution–in fact, on the contrary…
It’s only sensible to worry about numbers like these–they’re just so deliciously good. For the last 10 years, India’s HDFC Bank has been able to grow its loan portfolio by 31% annually. It’s deposit base has expanded at almost the same...
My fourth pick for my new ETF portfolio is now available
Please note that as I wrote in announcing this new ETF portfolio, the first three ETF picks for my new Perfect 5 ETF Active Passive Portfolio were the last that I’ll be posting on my free Jubak Picks site. If you want to get the last two picks and/or to follow...
Financials continue to rally in wake of reports of less damage than expected in Florida from Irma
Yesterday forecasts of lower than expected damage from Hurricane Irma were enough to light a fire under shares of insurance companies, the Financial Select Sector SPDR (XLF) and the market as a whole. Yesterday shares of Swiss RE and Munich RE, two re-insurers that...
Today’s bank earnings and market reaction a mixed bag–which is an improvement from Friday’s pessimism
More big bank earnings today–and, fortunately, they were a mixed bag. Which made them markedly better than Friday’s results. Bank of America’s (BAC)’s second-quarter earnings per share rose 12% to 46 cents, beating by 3 cents a share. Revenue...
Earnings season kicks off this week: Are expectations low enough? Bank stocks will tell on Friday
For all intents and purposes second quarter earnings season kicks off on Friday. Yes, PepsiCo (PEP) does report on Tuesday and Delta Air Lines speaks on Thursday, but the real bellwether earnings reports come from the big banks on Friday with earnings from Citigroup...
Bank stocks are risky in themselves and to the market as a whole. Find out why signing by up for your 30-days of free access to my paid JubakAM site. Hurry, though, there’s only 15 days left to his 20th anniversary offer
What are you waiting for? You’ve only got 15 days left to take shameless advantage of me. To celebrate the 20th anniversary of JubakPicks.com I’m giving away 30-days of free access to my subscription site JubakAM.comm but that offer is only good until the...
New tax proposal knocks back shares of Australian banks including my Dividend Portfolio pick Westpac Banking
The new Australian federal budget includes a 6 basis point (100 basis points equal one percentage point) annual tax on liabilities at the country’s five biggest banks. The tax would apply to liabilities including senior bonds, covered bonds, subordinated bonds...
Solid earnings beats from Citigroup and JPMorgan Chase barely push S&P 500 into the green
Two out of three of the big banks reporting first quarter earnings this morning beat Wall Street estimates. Citigroup (C) reported earnings of $1.35 a share, 11 cents a share above the Wall Street consensus. JPMorgan Chase (JPM) reported earnings of $1.65 a share, 12...
Optimism reigns as we head into first quarter earnings
As of April 7 Wall Street analysts are expecting year over year earnings growth of 9.2% for the stocks in the Standard & Poor’s 500 for the first quarter of 2017, according to Yardeni Research. FactSet’s estimates are just slightly lower at 8.9% year...
U.S. markets decide not to go anywhere ahead of the weekend
U.S. stocks stabilized today–thanks to better than expected earnings from Citigroup (C) and JPMorgan Chase (JPM) and, well, Friday. The Standard & Poor’s 500 stock index closed up 0.02%. U.S. crude oil benchmark West Texas Intermediate fell 0.24% but...
Brazil–and Itau Unibanco–is rallying big on hopes of an interest rate cut from the central bank
Update September 26, 2016 Could Brazil see the first interest rate cut since 2012 in October? With the Banco Central do Brasil’s benchmark Selic interest rate at 14.25% there’s certainly plenty of room. And even though the country’s politics are a...
Time for me to stop fighting the Fed and its delays on raising interest rates, and sell Capital One
There’s really nothing wrong with the shares of Capital One Financial (COF) that a stronger U.S. economy, a more confident U.S.consumer, and an interest rate increase–or two–from the Federal Reserve wouldn’t fix. It’s just that I...
Earnings from JPMorgan Chase show strong U.S. economy
Second quarter earnings results announced this morning by JPMorgan Chase (JPM) held solidly good news for the U.S. economy. Not as much good news for the bank and the banking sector in general, though. JPMorgan Chase is the first of the big banks to report with...
U.S. stocks pause ahead of earnings
Not terribly surprising that U.S. stocks are meandering in slightly negative territory today after busting out to new all-time highs. (The Standard & Poor’s 500 stock index was off 0.09% at the close in New York.) We’re about to head into the meat of...
Economy and financial markets point in different directions ahead of Wednesday’s Fed meeting
Pity the poor Federal Reserve. In making decisions about interest rates–in this case about whether or not to raise interest rates at its June, July or September meetings–it has to consider the condition of both the real economy and the financial markets. And right now...
What are the chances that the Brexit polls are wrong?
To anyone getting all warm and cozy with the polls showing that voters will decide to stay with the European Union in Thursday’s Brexit vote, I’ve got just one word of warning: Michigan. Remember the Michigan primary between Hillary Clinton and Bernie Sanders this...Update HSBC (HBC)
Wait! A bank with too much capital? Hard to believe but analysts at UBS calculate that’s exactly the “problem” that HSBC (HBC) is likely to face over the next four years. UBS forecast that the bank’s Tier One capital ratio hit 10% by the middle of 2010 after...It's a wonderful bank
If you were designing a bank now, from scratch, for growth and maximum profits, what kind of bank would you build? Bank earnings to date—from the biggest and most aggressive investment banks such as Goldman Sachs (GS) to the do-everything behemoths such as JPMorgan...Earnings up 289%, stock up just 37 cents–why isn't Wall Street dancing at JPM Chase earnings?
So far, so good for bank stocks. This morning, July 14, JPMorgan Chase (JPM) reported second quarter earnings of $1.09 a share. Not only was that a 289% increase from the second quarter of 2009 but it beat Wall Street projections for a 159% jump in earnings and...Jim’s Daily Email Alerts:
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