Posts for Ticker ‘PRSP’

Top Financial Earnings on Deck (JPM, GS, C, BAC, PRSP, FAS, FAZ)

Money ImageThis week is the week we have 6 DJIA components reporting earnings as the first real week of earnings season, but the big financial stocks reporting will set the tone for how the rest of the financial sector’s earnings are going to be received.  In banking we have the cleanest bank in JPMorgan Chase & Co. (NYSE: JPM) reporting and the cleanest brokerage firm, ergo bank holding company with no bank, in Goldman Sachs Group Inc. (NYSE: GS).  We also have Citigroup Inc. (NYSE: C) on Thursday and Bank of America Corporation (NYSE: BAC).  While Prosperity Bancshares Inc. (NASDAQ: PRSP) is far from any national leadership bank, it is deemed by the investment community as one of the cleanest regional banks out there and its earnings are due Friday morning.

These earnings also going to have a direct impact each day in the trading of the highly volatile Direxion Daily Financial Bull 3X Shares (NYSE: FAS) and Direxion Daily Financial Bear 3X Shares (NYSE: FAZ).  Be advised that Direxion has been making its own disclosures that these triple-leverage ETFs target effective moves during the trading session rather than how they trade through time and from closing bell to opening bell the next day.  Our take is that you could easily see double-digit percentage moves in these two ETFs on Wednesday, Thursday, or Friday because of the sector volatility.

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Posted on: October 13, 2009 – 2:03 pm in Banking, Brokerage Firms, Buffett, Calendar, ETF, Earnings, Financial Stocks, , , , , , ,

Very Mixed Analyst Calls in Financial Stocks (GS, MS, BBT, CMA, FITB, PNC, PRSP, STI, WFC)

We are seeing a very mixed picture among the analyst calls this morning over banks and financial stocks.  We are seeing some very positive “BUY” calls and we are also seeing some new “SELL” calls.

Goldman Sachs (GS) Started as Buy at Deutsche Bank.
Morgan Stanley (MS) Started as Buy at Deutsche Bank.
BB&T (BBT) Started as Sell at UBS.
Comerica (CMA) Started as Sell at UBS
Fifth Third Bancorp (FITB) Started as Sell at UBS.
PNC Financial (PNC) Started as Sell at UBS.
Prosperity Bancshares (PRSP) Cut to Underweight at Morgan Stanley.
SunTrust (STI) Started as Sell at UBS.
Wells Fargo (WFC) Started as Sell at UBS.

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JON C. OGG

October 8, 2009

Posted on: October 8, 2009 – 7:30 am in Analyst Calls, Banking, Brokerage Firms, Financial Stocks, , , , , , , , ,

Top Pre-Market Analyst Upgrades (ABC, DLTR, ECL, MOT, PRSP)

Money_stack_picThese are some of the top pre-market analyst upgrades we have seen this Thursday morning with more than two hours until the market opens:

  • AmerisourceBergen (ABC) Raised to Outperform at Oppenheimer.
  • Dollar Tree (DLTR) Raised to Neutral at Goldman Sachs.
  • Ecolab (ECL) Raised to Outperform at Baird.
  • Motorola (MOT) Raised to Overweight at JPMorgan.
  • Prosperity Bancshares (PRSP) Raised to Buy at SunTrust.

Jon C. Ogg
January 15, 2009

Posted on: January 15, 2009 – 7:42 am in Analyst Calls, , , , ,

Regional Banks Refusing TARP Funds (BXS, CFR, FCF, HCBK, PRSP, WFD)

Money_stack_pic_2Bailouts, handouts, subsidies, and free money be damned.  In times when most large financial institutions are lining up for their share of TARP funds, there are many regional banks out there which have decided to refuse the government’s bailout TARP funds.  These banks say the are solid, and many of their share prices have held up much better than many of the troubled banks which are taking TARP monies.  Some of these regional banks are BancorpSouth, Inc. (NYSE: BXS), Cullen/Frost Bankers, Inc. (NYSE: CFR), First Commonwealth Financial Corporation (NYSE: FCF), Hudson City Bancorp, Inc. (Nasdaq: HCBK), Prosperity Bancshares, Inc. (Nasdaq: PRSP), and Westfield Financial, Inc. (NASDAQ: WFD).  These are the more actively traded stocks and what gets interesting is the explanation for refusing to accept TARP funds and the ratios of some of these banking institutions.

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Posted on: November 28, 2008 – 8:47 am in Banking, Financial Stocks, Regulation, , , , , ,

Top Analyst Upgrades & Downgrades (BIIB, COWN, MYL, PRX, SMBL, TEVA, CBY, CCL, DLB, JCP, JEF, PRSP)

Below are some of the top analyst calls we are seeing from Wall Street firms this Thursday morning:

  • Biogen Idec (BIIB) Raised to Buy at Lazard.
  • Cowen (COWN) Raised to Outperform at KBW.
  • Mylan Labs (MYL) Started as Strong Buy at Needham.
  • Par Pharmaceuticals (PRX) Started as Strong Buy at Needham.
  • Smart Balance (SMBL) Started as Buy at Lazrd.
  • Teva Pharma (TEVA) Started as Strong Buy at Needham.
  • Cadbury Schwepps (CBY) Cut to Sell at Citigroup.
  • Carnival (CCL) Cut to Sell at Deutsche Bank.
  • Dolby Labs (DLB) Cut to Hold at Deutsche Bank.
  • JCPenney (JCP) Cut to Underperform at Merrill Lynch.
  • Jefferies (JEF) Cut to Underperform at KBW.
  • Prosperity Bancshares (PRSP) Cut to Market Perform at KBW.

Jon C. Ogg
September 25, 2008

Posted on: September 25, 2008 – 6:49 am in Analyst Calls, , , , , , , , , , , ,

Upgrades Come to Financials (AXP, COF, CMA, DFS, LEH, PRSP)

These are some of the top analyst calls for the financial services group we have seen in the early hours of trading this Tuesday morning:

  • American Express (NYSE: AXP) raised to Neutral at UBS.
  • Capital One (NYSE: COF) raised to Neutral at UBS.
  • Comerica (NYSE: CMA) raised to Outperform at KBW.
  • Discover Financial Services (NYSE: DFS) raised to Neutral at UBS
  • Lehman Brothers (NYSE: LEH) raised to Overweight with $31 target at Morgan Stanley, although this was technically a late-Monday call.
  • Prosperity Bancshares (NASDAQ: PRSP) raised to Outperform at BMO Capital Markets.

Jon C. Ogg
July 1, 2008

Posted on: July 1, 2008 – 7:14 am in Analyst Calls, Banking, Financial Stocks, , , , , ,

Top 10 Pre-Market Analyst Calls (AFL, CSCO, DVN, JMBA, KBW, MRO, NCC, PRSP, URBN, VMW)

There are other analyst calls affecting shares this morning, but these are ten of the top calls that we are focusing on this Thursday in pre-market trading:
AFLAC (NYSE: AFL) cut to Neutral from Buy at Banc of America Sec
Cisco Systems (NASDAQ: CSCO) cut to Neutral from Buy at UBS.
Devon Energy (NYSE: DVN) raised to Overweight at JP Morgan.
Jamba (NASDAQ: JMBA) started as Hold at Jefferies.
KBW inc. (NYSE: KBW) started as Sell at Stern Agee.
Marathon Oil (NYSE: MRO) raised to Outperform at Oppenheimer.
National City (NYSE: NCC) raised to Outperform at Bear Stearns; raised to Equal Weight at Morgan Stanley.
Prosperity Bancshares (NASDAQ: PRSP) cut to Neutral at Sun Trust Robinson Humphrey.
Urban Outfitters (NASDAQ: URBN) cut to Market Perform at Morgan Keegan.
VMware (NYSE: VMW) cut to Hold at Lazard.

Jon C. Ogg
April 3, 2008

Posted on: April 3, 2008 – 7:08 am in Analyst Calls, , , , , , , , , ,

Pre-Market Analyst Calls (August 6, 2007)

AMTD raised to Buy at UBS.
ANN raised to Hold at Citigroup.
AUTH started as Overweight at Lehman; started as Outperform at Bear Stearns.
CVH raised to Neutral at B of A.
CFR raised to Outperform at RBC.
CKFR cut to Neutral at JPMorgan.
CSE cut to Outperform at JMP.
DFC cut to Mkt Perform at JMP.
ERTS raised to Outperform at Bear Stearns.
IMH cut to Hold at Deutsche Bank.
LUM cut to Underweight at JPMorgan.
MER raised to Buy at UBS.
MMR raised to Overweight at JPMorgan.
O raised to Outperform at Credit Suisse.
PRSP raised to Outperform at RBC.
PVG cut to Sector Perform at RBC.
SCOR started as Outperform at Credit Suisse; started as Hold at Jefferies; started as Mkt Perform at FBR; started as Buy at Deutsche Bank.
SEP started as Overweight at Lehman; started as Buy at Citigroup.; started as Outperform at Wachovia.
SPG raised to Outperform at Credit Suisse.
SPRD started as Overweight at Lehman; started as Outperform at Piper Jaffray.
TTWO raised to Peer Perform at Bear Stearns.
VOD raised to Buy at Citigroup.

Jon C. Ogg
August 6, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: August 6, 2007 – 7:02 am in Analyst Calls, , , , , , , , , , , , , , ,

Pre-Market Stock News (July 20, 2007)

(ACOR) Acorda COO resigned to pursue other interests.
(AMD) Advanced Micro Devices traded up 4% after revenues were ahead of plan on processor sales.
(AUY) Yamana Gold makes business combination offer for Meridian Gold.
(BVF) Biovail received a non-approval letter from the U.S. FDA for its NDA for BVF-033.
(C) Citigroup $1.24 EPS vs $1.13 estimate, Revenues $25.6 Billion vs. $24.88B est.
(CAT) Caterpillar $1.24 EPS vs $1.49 estimate.
(ERIC) Ericsson ADR’s trading down over 4% after earnings rose 12% overseas.
(MSFT) Microsoft traded down almost 1% after meeting expectations.
(OWW) Orbitz IPO priced 34 million shares at $15.00.
(GOOG) Google traded down 7% after missing EPS on higher expenses.
(PRSP) Prosperity Bancshares $0.52 EPS vs $0.52 estimate.
(RHHBY) Roche profit rose 24% overseas; named new chief for diagnostics unit.
(SLB) Schlumberger $1.02 EPS vs $0.95 estimate.
(SNDK) SanDisk trading up over 4% after beating earnings.
(SNTS) Santarus announces achievement of $5 million milestone payment under license agreement wit Schering-Plough.
(SON) Sonoco $0.56 EPS vs $0.59 estimate.
(WB) Wachovia $1.23 EPS vs $1.22 estimate.
(WHR) Whirlpool $2.00 EPS vs $1.83 estimate.

Jon C. Ogg
July 20, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: July 20, 2007 – 7:21 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , ,