The last twenty years or so have been a mixed period for financial stocks, and for big banks like Wells Fargo & Co (NYSE:WFC). WFC stock had, like most other stocks, vastly overshot its intrinsic value during the dot-com bubble. Wells Fargo stock fell by about a third in late 1999.
But then came the good times — from then until the mortgage....More>>>
2017 was said to be the year of the buyout, and so far, it appears that the M&A prediction is coming true. Last year’s market saw several industries struggling and left some solid companies beaten down. That put them in a vulnerable position as some of their more stable competitors looked for ways to profit from the challenging environment.
We continue to believe that financial stocks are quite undervalued as well. During the quarter we made a new investment in Ally Financial (NYSE:ALLY). Ally was founded nearly a century ago as General Motors Acceptance Corporation. Its purpose then was to provide financing to GM dealers and retail customers. Today, Ally is no longer owned by GM. It serves a wide variety of dealers (including Ford,....More>>>
Wells Fargo (WFC) has come a long way since its account-opening scandal–enough that it makes you wonder if that scandal has been forgotten on Wall Street. Not Argus analyst Stephen Biggar, who cut Wells Fargo today, arguing that the scandal remains an overhang for the banking giant following its earnings miss last week:
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We are downgrading....More>>>
General Electric Company (NYSE:GE) has missed earnings estimate only once in last 26 quarters.
Boston, Massachusetts-based industrial giant General Electric Company(NYSE:GE) is scheduled to report its first-quarter 2017 earnings on Friday, 21st Aprilbefore the market opens. GE has had a rough 2016 with revenues and margins coming under pressure. While GE certainly did not earn....More>>>
Stocks gained today as corporate earnings shined and inflation data showed no need for the Federal Reserve to rush a rate hike.
The S&P 500 rose 0.6% to 2,139.60 today, while the Dow Jones Industrial Average advanced75.54 points, or 0.4%, to 18,161.94. The Nasdaq Composite gained 0.9% to 5,243.84.
Citigroup’s Andrew Hollenhorst contends the inflation....More>>>