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Bank results Season: Tech Day sets a topsy turvy market right?

Tech Day cometh, and we reward BofA?

It took failing Google($10 bln/$9.5) ad rates despite growing display franchises, surly Intel with good results, okayish Microsoft with 6% Windows business drop ( with iPads selling 60 mln, PC shipments are down at least 4% from that move to Tablets, even as Thai supplies dry – more of that in the Digital diaries as PC shipments drop 10% or grow 20% if you include iPads in the mix), IBM’s race for the Top Dollar  and a sunny intervention from Apple on Tech day to launch school texts thru the iPad; A GE and a GE Capital to follow just falling on attriting bad assets with sales of $10.5 bln for realisation to dawn on the final pecking order in the Financials

Before we proceed, Microsoft results here, don’t take First post, Go Wash post for IBM results($29.5 bln/$4.71),  don’t bother the online ET and get Reuters for Google and GE, and Reuters again for Intel ($13.9bln/$0.64) or go to business week for all Four and GE. Transcripts for all are avl at seekingalpha

Bank of America adjusts to 0 earnings

After celevbrating the non existence of more holes for Capital immediately after results yesterday, the bank’s shares today start adjusting to a bleak earnings outlook as the bank suggests asset sales are more or less over. Barring more retail mortgage asset reserves, the low level of mortgage rates should let America’s Bank back into the ring even as the coming lending boom is likely to be no more than a full hearted push for lenders lie JP Morgan and Wells Fargo, the former relying on debt wings of its Deal makers in the Fee income business.

A big bang for Financials is due

Of course banks are due for a big uptick, but the volatile market reaction to results has been estopped by the fundamentally undervalued stocks even as VIX starts inching up from a low for the S&P right now. the S&P is also at th ecusp of a big move and frequent updating of estimates set the market up to a lot of immediate reactions to results that settled into more measured upswings in select counters still shoing integrity like Goldman Sachs and JP Morgan which have benefitted the most in this earnings season in their results.

Citi and BofA have probably come out on active lists however and hence the jubilant market reaction when they did not shut down as per the last market reports befor eresults, even looking at a $30 bln new writedown on Bank of America;s Countrywide balance sheet.

Compared with $1,84  earnings per share from Goldman, less than half of last year’s Q4 figure, Bank of America came out with a big fat Zero for the year but with a $25 bln topline for Q4. Though Wells Fargo’s $15.9 bln profit for the year did get some attention, J P Morgan’s $19 bln profits for the year were lost in the cacophony of expectations. In the end, Wells Fargo’s topline was not as good as the near perfect $97 bln from the JP Morgan, which was not good enough for the market on the Friday of the deed. Both JP Morgan and Citi were lost in another last minute rerating of sector expectations even as the others reported in two consecutive days thru yesterday.

Bank Results Season: J P Morgan reports $19 bln on $97 bln revenues | Insider Insight

Posted on January 13, 2012 by zyakaira — No Comments ↓

As mentioned yesterday, the leading lights of banking, now that Wall street is not the same, still managed to eke out $3.7bln in Income (Net Profit) on a $21 bln quarter to close 2011 with $97.234 bln revenues and a $18.976…

Bank Results Season: 2011: Citi tries the Emerging Markets crown | Insider Insight

Posted on January 17, 2012 by zyakaira — No Comments ↓

Citi analysts have been posting estimates based on its 58% Loans portfolio from the Emerging markets, the bank having grown 22% in the retail portfolio in the first nine months of the year in LatAm and 12% in Asia (FT)…

Bank Results Season: Goldman Sachs’ ends tryst with 2008? – $4.51 for 2011 ain’t a bad score | Insider Insight

Posted on January 18, 2012 by zyakaira — No Comments ↓

The firm that has been variously called out as a giant vampire squid, comes close to reporting its lowest annual revenues since 2008′s $22 bln with the expected $28.88 bln revenues. Q4 revenues are almost unchanged from last year at…

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Daily Archives: January 19, 2012

Bank Results Season: Bank of America with more provisions for 2011 | Insider Insight

Posted on January 19, 2012 by zyakaira

The bank has published results with new reserves of $15.6 bln on representation and warranties, $6.3 bln in litigation and another $7.3 bln in Legacy Assets servicing bringing Net Revenues down by $29.2 bln, more than Goldman Sachs produced for…

Bank Results Season: The unlikeliest bank on Wall Street (Morgan Stanley 2011) | Insider Insight

Posted on January 19, 2012 by zyakaira

Morgan Stanley minimised  its institutional securities business in Q4 to a wallflower, the company making $2.1 bln in Sales and trading revenue in 4Q over $17 bln for the year stopped at Q3 $6.4 bln trading income.  Global Wealth and Asset…

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This entry was posted on January 20, 2012 by in Amitonomics, Banking, US and tagged , , , , , , , , , , .


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