Posts for Ticker ‘SNV’

S&P Looking For More Bank Losses (WFC, CMA, USB, BBT, RF, COF, FITB, HBAN, SNV, WTNY, FAS)

burning-money-picStandard & Poor’s may still have at least some relevance in its debt ratings.  This morning we saw a wave of downgrades at banks by the debt ratings agency on systematic-risk and non-systematic risk.   We tried to shorten this up to the most concise report in rating groups as this is hitting many of the bank stocks pretty hard this morning. Wells Fargo & Co. (NYSE: WFC), Comerica (NYSE: CMA), USBancorp (NYSE: USB), BB&T Corp. (NYSE: BBT), Regions Financial Corp. (NYSE: RF), Capital One Financial Corp. (NYSE: COF), Fifth Third Bancorp (NASDAQ: FITB), Huntington Bancshares Inc. (NASDAQ: HBAN), Synovus Financial Corp. (NYSE: SNV) and Whitney Holding Corp. (NASDAQ: WTNY) were all in the wave of S&P downgrades.  This news has the extremely volatile Direxion Daily Financial Bull 3X Shares (NYSE: FAS) triple leverage financial sector ETF down 7% at $8.60.
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Posted on: June 17, 2009 – 11:40 am in Analyst Calls, Banking, Financial Stocks, , , , , , , , , , , , , , , , , ,

The 52-Week Low Club (RF)(SNV)(IP)(FITB)(CENX)

Sad_clownNOVA Chemicals  (NCX) Bad Q4 and a downgrade by RBC. Falls to $3 from 52-week high of $32.46.

Regions Financial (RF) Downgrade by Bernstein. Runs off to $3.40 from a 52-week high of $25.84.

Synovus Financial (SNV) Bad analyst call. Drops to $3.88 from 52-week high of $13.58.

International Paper (IP) Big quarterly loss. Sells off to $9.06 from 52-week high $33.77.

Fifth Third Bancorp (FITB) Bernstein downgrade sends shares plunging to $2.36 from 52-week high of $28.58.

Century Aluminum (CENX) Company plans to sell more stock. Dips to $3.43 from 52-week high of $80.52.

Douglas A. McIntyre

Posted on: January 30, 2009 – 4:05 pm in HI/LOW, , , , ,

Top 10 Pre-Market Analyst Upgrades & Downgrades (ACTI, BCE, KSU, MYL, TEVA, AXP, AAPL, ROCK, SNV, TKC)

Money_stack_picIt is getting rather thin in analyst coverage, but these are the top ten analyst upgrades and downgrades we have seen this Wednesday morning:

  • ActivIdentity (NASDAQ: ACTI) Started as Buy at Stanford Group.
  • BCE (NYSE:BCE) Raised to Buy at UBS.
  • Kansas City Southern (NYSE:KSU) Raised to Buy at UBS.
  • Mylan (NYSE:MYL) Started as Overweight at JPMorgan.
  • Teva (NASDAQ: TEVA) Started as Overweight at JPMorgan.
  • American Express (NYSE:AXP) Started as Reduce at SunTrust Robinson Humphrey.
  • Apple (NASDAQ: AAPL) Cut to Perform at Oppenheimer.
  • Gibralter (NASDAQ: ROCK) Cut to Sell at Piper Jaffray.
  • Synovus Financial (NYSE:SNV) Cut to Neutral at JPMorgan.
  • Turkcell (NYSE:TKC) Cut to Neutral at JPMorgan.

Jon C. Ogg
December 17, 2008

Posted on: December 17, 2008 – 8:37 am in Analyst Calls, , , , , , , , , ,

52-Week Low Club: Transport, Semiconductors & Financials (January 2, 2008)

Truckers led the drop after a fake $100 oil print and after a YRC Worldwide (NASDAQ: YRCW) acquisition write-down, pulling down Arkansas Best (NASDAQ: ABFS) and others.  With no surprise, airlines followed suit with Airtrain (AAI), AMR Corp. (NYSE: AMR), Continental Airlines (NYSE:CAL), Delta (NYSE: DAL), FedEx (FDX), Jetblue (NASDAQ:JBLU), Mesa Air (NASDAQ: MESA), Northwest Air (NYSE: NWA), Southwest Airlines (NYSE:LUV), US Air (NYSE: LCC).

Chip and tech stocks on 52-week lows: AMAT, AMD, ADTN, ARRS, ATML, BBND, CHRT, FCS, FEIC, IDTI, IM, KLAC, KLIC, LRCX, LSCC, LSI, MCRL, MRVL, MU, NSM, STM, TER, XLNX

Financial Giants on 52-Week lows: BAC, BBT, BSC, CYN, DFG, EFX, FIC, FITB, FHN, MCO, NCC, PNSN, SNV, SBP, WFC, ZION.

We kept the REIT’s and the usual suspects in retail off the list that have been here day in and day out (although many hit new 52-week lows).  Here is the huge list of others 52-week lows:

  • Automatic Data (ADP), Cardinal Health (CAH), Career Education (CECO), Diebold (NYSE: DBD), EchoStar (DISH), Superior Offshore (DEEP), Dow Chemical (DOW), Eastman Kodak (EK), Emmis (EMMS), Ford (F), Fortune Brands (FO), General Motors (GM), Hasbro (HAS), Helen of Troy (HELE), Interpublic (IPG), Mattel (MAT), McClatchy (MNI), Media General (MEG), Nortel Networks (NT), Owens Corning (OC), Paychex (OPAYX), PHH Corp. (PHH), Playboy (PLA), Radio Shack (RSH), Rite Aid (RAD), Sherwin Williams (SHW), Sprint Nextel (S), Starbucks (SBUX), Starwood Hotels (HOT), Sun Microsystems (JAVA), Symantec (SYMC), Travelzoo (TZOO), VF Corp (VFC), Warner Music Group (WMG), Waste Management (WMI), Weight Watchers (WTW), Wendy’s (WEN)

Imagine how large this list would have been if retailers and REIT’s were included.
Jon C. Ogg
January 2, 2008

Posted on: January 2, 2008 – 4:23 pm in HI/LOW, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Total Systems Services Finally Its Own Company (TSS, SNV)

Total Systems Services, Inc. (NYSE:TSS), also called TSYS, is finally getting the completion of its spin-off of majority outside ownership so that it will be its own company.  Synovus (NYSE: SNV) has announced the distribution ratio for the previously-announced spin-off of the shares of TSYS common stock currently owned by Synovus.

On December 31, 2007, Synovus will distribute 0.484 of a share of TSYS common stock for each share of Synovus common stock outstanding with a record date of 5:00 p.m. Eastern time on December 18, 2007.  Instead of receiving fractional shares for amounts of less than one TSYS share, Synovus shareholders will receive cash.

Synovus currently owns 80.6% of TSYS. The distribution of the 159,630,980 TSYS shares owned by Synovus will be made to Synovus shareholders on December 31, 2007 and will be done on a tax-free status to Synovus and its shareholders.

Synovus Financial closed at $24.10 yesterday and its 52-week trading range is $21.91 to $33.82.  TSYS shares closed at $26.72 yesterday and its 52-week trading range is $25.48 to $35.05.

You can join our own open email distribution list to hear about spin-offs, break-ups, merger-arb spreads, reorganizations, restructurings, and other key special situations.

Jon C. Ogg
December 19, 2007

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

Posted on: December 19, 2007 – 9:02 am in Shareholder Issues, Value Investing, ,

Pre-Market Stock News (December 18, 2007)

Below is the top news that 247WallSt.com is focusing on that is impacting stocks in pre-market trading activity:

  • Adobe Systems (ADBE) traded down 2% after beating earnings and slightly raised guidance.
  • ATS Medical (ATSI) received FDA approval for AP360 mechanical heart valve.
  • Best Buy (BBY) $0.53 EPS vs $0.41 est. and $9.92 Billion revenues vs. $9.45 Billion est.; shares traded up 4%.
  • Borg Warner (BWA) trades ex-split to reflect a 2 for 1 stock split today.
  • Cherokee (CHKE) retained Goldman, Sachs & Co. to explore strategic alternatives including possible sale of the company.
  • Dollar Financial (DLLR) raised fiscal 2008 guidance after formally closing its previously announced acquisition of 82 Florida financial-services stores.
  • Eli Lilly (LLY) announced that CEO Sidney Taurel will retire in March 2008.
  • First Solar (FSLR) noted as a stock pick with 5-years earnings visibility by Cramer on MAD MONEY.
  • Forest Labs (FRX) won FDA approval for its new high blood pressure beta blocker along with Maylan Labs.
  • Goldman Sachs (GS) set to report earnings with $6.61 EPS estimate (whisper of $7.00 and higher).
  • Natus Medical (BABY) put Q1 guidance $0.09-0.10 vs $0.12 estimate; sees 2008 EPS $0.68 to $0.70 vs. $0.63 estimate.
  • MedcoHealth Solutions (MHS) noted as a stock pick with 5-years earnings visibility by Cramer on MAD MONEY.
  • Mylan Labs (MYL) won FDA approval for its new high blood pressure beta blocker along with Forest Labs.
  • Range Resources (RRC) to replace Tribune in S&P 500 Index on Thursday after close.
  • Salix Pharmaceuticals (SLXP) will replace Coherent Inc. (COHR) in the S&P SmallCap 600 after the close TODAY.
  • Synovus (SNV) lowered its guidance.
  • Thornburg (TMO) reinstated dividend with $0.25 payment, says mortgage uncertainties continue.
  • Transocean (RIG) noted as a stock pick with 5-years earnings visibility by Cramer on MAD MONEY.

Jon C. Ogg
December 18, 2007

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

Posted on: December 18, 2007 – 8:15 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , ,

Cramer’s Got 2 More Financial Service Buyout Picks (TSS, ADP, ADS, BSG, FDC, SNV)

Cramer came on MAD MONEY saying he thinks that Total Systems Services (TSS-NYSE) is one that can be taken over next in a sector and $40.00 would be a fair price based on Alliance Data prices.  Synovis (SNV) is the parent and Third point is now being an activist investor.  The earnings growth of 18% is reason enough to own this.  The only issue he has in the sector is that Automatic Data Processing (ADP) might be acquired first.  Alliance Data Services (ADS) was just acquired, First Data (FDC) is going private, and even Bisys Group (BSG) got gobbled up.  We’ll see, but investors need to keep in mind that some of the premiums in this sector have been pidly.  ADS was nearly a 20% stock jump, but BSG was a horrible low-premium buyout.

Jon C. Ogg
May 21, 2007

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

Posted on: May 21, 2007 – 5:53 pm in Cramer, Financial Stocks, Mergers and Buy Outs, , , , , ,