Worst Performing Bank Stocks (DSL, FED, CORS, GRAN, NCC, BKUNA, VNBC)

247wallst — Sat, 27 Sep 2008 06:46:00 +0000

The carnage and fallout from the Washington Mutual (NYSE: WM) failure on Friday was broad-based and very ruthless in the banking sector. Most companies had no news, yet speculation of exposure and related counterparty and credit default risk drove investors to sell almost all questionable banking names.

Bank Stock (Ticker)                   Close (drop and %)    Volume
Downey Financial Corp. (DSL)    $2.03 (-$1.87; -47.95%) 3,663,566
FirstFed Financial Corp. (FED)    $10.04 (-$8.21; -44.99%) 1,972,956
Corus Bankshares Inc. (CORS) $3.75 (-$1.05; -21.88%) 993,442
Bank of Granite (GRAN)             $4.50 (-$1.58; -25.99%) 65,354
National City Corporation (NCC) $3.71 (-$1.28; -25.65%) 326,015,615
BankUnited Financial (BKUNA)    $0.79 (-$0.21; -21.00%) 1,200,562
Vineyard National Bancorp (VNBC)$1.10 (-$0.28; -20.29%) 81,173

There were also several REIT and other non-bank financial stocks that performed worse than some of these, but these were the banking related names that tanked after WaMu became Shamu.

Jon C. Ogg
September 27, 2008

Posted in Banking, HI/LOW Tagged: BKUNA, CORS, DSL, FED, GRAN, NCC, VNBC

Cramer Says The Rally Has Just Begun (T, DSL, FED)

247wallst — Wed, 19 Sep 2007 17:30:47 +0000

On tonight’s MAD MONEY on CNBC, Jim Cramer said it isn’t too late to get in after the post-FOMC rally seen over the last two days. He thinks this is like the 1990 cuts and the 1998 cut, and this is nothing compared to the market you will see ahead. The 400 point gain is really not anything because it is going higher and you shouldn’t get scared out of the market. Same as yesterday, he said don’t listen to the bears and nay-sayers.

Cramer doesn’t think a rate cut is going to bail out the homebuilders entirely, but he still wouldn’t short them now. He likes the banks, but the theory and the moral hazard is great for many many stock. If you want a review of Cramer’s fairly recent stock pick lists that he is still positive on many of the stocks, here are some of the stock lists and brief explanations:

Here is his list of TOP 9 PICKS FOR 2007
Here is his "New Four Horsemen of Tech"
Here is his Mortgage Madness Portfolio
Here are his Top China Picks
Here are Warren Buffet Stock Reviews in 10 stocks and then 10 more
Here are his numerous picks from the fantasy football stocks…Running Backs… Tight Ends… Quarterbacks…. Defensive Linemen…

Cramer also gave several other stock picks in his second segment on MAD MONEY. But he gave his key telecom pick being AT&T (NYSE:T) because of its higher dividend and growth ahead. He thinks it is savvy and will grow cautiously and it trades at 12-times earnings with an upswing coming. Being the sole iPhone distributor is only helping and he thinks wireless data revenue is going to be massive. Cramer also interviewed the CFO, Richard "Rick" Lindner, who said wireless is hitting on all cylinders with margins actually growing. The CFO also said video is now over 100,000 customers and they have over 1 million satellite.

Other picks that Cramer noted earlier today were Downey Financial Corp. (NYSE:DSL) and FirstFed Financial (NYSE:FED).

Jon C. Ogg
September 19, 2007

24/7 Wall St. » DSL

Worst Performing Bank Stocks (DSL, FED, CORS, GRAN, NCC, BKUNA, VNBC)

Cramer Says The Rally Has Just Begun (T, DSL, FED)