Posts for Ticker ‘CNB’

Can Colonial Make It? (CNB)

Burning_money_pic_2Colonial Bancgroup Inc. (NYSE: CNB) is looking like it is the next banking institution on the verge of tipping over into the abyss.  Its earnings report leaves nothing to be desired.  But a 44% drop in the stock on double an average day’s volume will raise eyebrows even if the shares have now fallen under the $1.00-mark.  The bank better be thankful that the NYSE has eased some of its share price rules.

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Posted on: January 28, 2009 – 10:54 am in Banking, Earnings, Turnarounds,

Shorts Attack The Banks Again, But Flee Bailout Targets And Retailers

AngrybearNo matter how far down bank stocks go and how hard regulators try to keep short sellers out of financial shares, some of the smart money is willing to gamble that the fortunes of the sector will get worse.

As of the end of November, short piled into Citigroup (C) driving up shares short by 44% to 182.5 million. In Bank of America (BAC) short interest rose 20% to 110 million shares. Short interest in Ambac (ABK) moved up 26% to 60.8 million. Shares sold short in US Bancorp (USB) and Colonial (CNB) were both up over 20%. The short interest in Morgan Stanley (MS) was also up almost 20%.

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Posted on: December 10, 2008 – 6:36 am in Short Interest, , , , , , , , , , , , , , , , , , , ,

Early Bird Analyst Downgrades (ADCT, ACL, AMMD, BGH, CNB, CNW, ERTS, FCX, NAT, OSG, PCU, STM)

Down_arrow_redThese are some of the top analyst downgrades we are seeing from Wall Street firms this Thursday morning with more than two hours to the open:

  • ADC Telecommunications (ADCT) Cut to Underweight from Overweight at JPMorgan.
  • Alcon (ACL) Cut to Neutral from Overweight at JPMorgan.
  • American Medical Systems (AMMD) Cut to Market Weight at Thomas Weisel.
  • Buckeye Group Holdings LP (BGH) Cut to Neutral at Goldman Sachs.
  • Colonial Bancgroup Inc. (CNB) Cut to Neutral at JPMorgan.
  • Con-Way,Iinc (CNW) Cut to Neutral at Baird.
  • Electronic Arts (ERTS) Cut to Sell at S&P Equity Research.
  • Freeport-McMoRan (FCX) Cut to Neutral from Buy at Goldman Sachs.
  • Nordic American Tanker (NAT) Cut to Neutral at JPMorgan.
  • Overseas Shipholding (OSG) Cut to Neutral at JPMorgan.
  • Souhern Copper (PCU) Cut to Sell at Goldman Sachs.
  • STMicroelectronics (STM) Cut to Hold at S&P Equity Research.

Jon C. Ogg
October 23, 2008

Posted on: October 23, 2008 – 6:30 am in Analyst Calls, , , , , , , , , , , ,

The 52-Week Low Club (CNB)(WB)(GHS)(ZION)

The Colonial BancGroup (CNB) Concerns about balance sheet. Down to $4.12 from 52-week high of $25.50.

Wachovia (WB) The bigger the bank, the harder its falls. Drops to $16.96 from 52-week high of $54.54.

Gatehouse Media (GHS) Newspaper. Falls to $2.73 from $19.60.

Zions Bancorporation (ZION) Yet another bank stock sinks. Drops to $33.42 from 52-week high of $71.43.

Douglas A. McIntyre

Posted on: June 17, 2008 – 2:58 pm in HI/LOW, , , ,

The 52-Week Low Club (GM)(CNB)(SU)(PFE)(AIG)(FVRL)

GM (GM) falls as sales appear to falter. Down to $16.87 from 52-week high of $43.20.

The Colonial BancGroup (CNB) Worries about bank failures push shares down to $5.65 from 52-week high of $25.50.

Suncor Energy (SU) Stock split. Meaningless. Down to $68.36 from 52-week high of $148.55.

Pfizer (PFE) hit by worries of too few new drugs in the pipeline. Falls to $19.25 from 52-week high of $27.73.

American International Group (AIG) hurt by write-offs, money raise, and broker downgrades. Triple Crown. Off to $36.56 from 52-week high of $72.96.

Favrille (FVRL) has failed drug trials and collapses to $.19 from 52-week high of $4.08.

Douglas A. McIntyre

Posted on: May 27, 2008 – 2:50 pm in HI/LOW, , , , , ,

The 52-Week Low Club (UNH)(CNB)(SSTR)(SLRY)

Unitedhealth Group (UNH) Concerns about healthcare cost cuts still bother stock. Drops to $31.50 from 52-week high of $59.46.

The Colonial BancGroup (CNB) No bad news. Just part and parcel of being a bank. Down to $7.18 from 52-week high of $25.50

Silverstar (SSTR) Unpleasantness over quarterly report. Sells off to $.72 from 52-week high of $5.48.

Salary.Com (SLRY) Quartely loss and downgrades. Slips to $3.88 from 52-week high of $16.32.

Douglas A. McIntyre

Posted on: May 15, 2008 – 2:55 pm in HI/LOW, , , ,