Habe soeben Wachovia zu 0,012 $ gekauft. Die Hürde von 0,007 wurde geknackt. Chartechnisch ist jetzt alles möglich. Kürzel: WAVAP WKN:812618
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NEW YORK -- Citigroup Inc., the nation's largest financial institution, and Wachovia Corp., a fast-growing regional bank based in Charlotte, N.C., reported strong first-quarter earnings on Friday, soundly beating analysts' projections.
KeyCorp, which is based in Cleveland, also came in with earnings above estimates.
All of the banks benefited from improved consumer credit performance, which lowered delinquencies and defaults on outstanding loans. Citigroup, which is headquartered in New York, said revenues for corporate and investment banking also were strong.
But the nation's banks could face challenges in coming months as consumer deposit growth slows, said James Schmidt, head of the financial institutions investment team at John Hancock Funds in Boston.
"As money market yields get better and the stock market becomes attractive, you can figure that people won't put all their money in the banks," Schmidt said. That will reduce the banks' access to low-cost funds "and could mean less fee income," he said.
On the positive side, "we're starting to see good commercial loan growth" to balance out the softness in retail banking.
Citigroup said its profits rose to a record $5.44 billion, or $1.04 per share, in the January-March period, up from $5.27 billion, or $1.01 per share, a year earlier. Analysts surveyed by research firm Thomson Financial forecast profit of $1.02 per share.
Revenue climbed 6 percent to $21.5 billion in the first quarter, driven by retail banking, fixed income markets and transaction services.
Citigroup also announced the board authorized up to $15 billion in additional share repurchases, boosting the company's total authorization to $16.3 billion.
Citigroup shares rose 35 cents, to close at $45.75 in Friday trading on the New York Stock Exchange.
Mark Batty, an equity analyst with PNC Advisors in Philadelphia, said Citigroup's decision to buy back stock "is a really positive statement by the board of directors" about the bank's future performance. Such a buyback reduces the number of shares outstanding, giving the remaining shareholders larger percentage ownership of the company.
Chief Executive Charles Prince said in a statement accompanying the report that the quarterly results reflected "strong growth in customer balances, which helped to offset the impact of spread compression from rising short-term rates." He added that fixed income and transactions services businesses "performed exceptionally."
Wachovia, meanwhile, posted record first-quarter profits of $1.62 billion, or $1.01 a share, up from $1.25 billion, or 94 cents, a year earlier. The bank attributed the strong results to gains by all its major businesses.
Excluding merger expenses, the Charlotte-based bank would have earned $1.65 billion, or $1.03 a share. That beat by two cents the $1.01 expected by analysts surveyed by research firm Thomson Financial.
Revenues for the quarter were $6.47 billion, up from $5.69 billion a year earlier.
Wachovia shares fell 59 cents to close at $49.52 on the NYSE.
"Credit quality continued to be stellar across the board," Ken Thompson, chairman and chief executive, told a conference call with bank analysts.
The only earnings trouble spot was Wachovia Securities, the retail brokerage operation, which saw business decline in the quarter in what the company described as a difficult market.
Thompson was asked if he thought the bank's stock price was affected by a Wall Street Journal report Friday that investment bank Morgan Stanley had considered merging with several banks, including Wachovia.
"I was as surprised as you to see our name in that article," Thompson said. "We are not contemplating anything like that."
In Cleveland, KeyCorp said first-quarter earnings rose 5.6 percent from a year ago, reflecting stronger demand for commercial loans and growth in fee income.
Net income increased to $264 million, or 64 cents per share, in the January-March period from $250 million, or 59 cents per share, a year earlier. Revenue rose to $1.18 billion from $1.12 billion last year.
Analysts surveyed by Thomson Financial expected earnings of 61 cents per share on sales of $1.15 billion in the latest quarter.
KeyCorp shares rose 75 cents, or 2.4 percent, to close at $32.27 on the NYSE.
KeyCorp's chairman and chief executive, Henry L. Meyer III, said the bank's nonperforming loans decreased for the 10th consecutive quarter to the lowest level in a decade.
"While a stronger economy contributed to these positive changes, they also reflect strategic business mix changes we've made to improve Key's risk profile," he said.
Looking ahead, the company said it expects second-quarter earnings to range from 62 cents to 66 cents per share, and predicts full-year income will range between $2.55 and $2.65 per share.
"We're cautiously optimistic, and maybe that is an overused term," Meyer said. "But this is a fragile marketplace."
KeyCorp, which is based in Cleveland, also came in with earnings above estimates.
All of the banks benefited from improved consumer credit performance, which lowered delinquencies and defaults on outstanding loans. Citigroup, which is headquartered in New York, said revenues for corporate and investment banking also were strong.
But the nation's banks could face challenges in coming months as consumer deposit growth slows, said James Schmidt, head of the financial institutions investment team at John Hancock Funds in Boston.
"As money market yields get better and the stock market becomes attractive, you can figure that people won't put all their money in the banks," Schmidt said. That will reduce the banks' access to low-cost funds "and could mean less fee income," he said.
On the positive side, "we're starting to see good commercial loan growth" to balance out the softness in retail banking.
Citigroup said its profits rose to a record $5.44 billion, or $1.04 per share, in the January-March period, up from $5.27 billion, or $1.01 per share, a year earlier. Analysts surveyed by research firm Thomson Financial forecast profit of $1.02 per share.
Revenue climbed 6 percent to $21.5 billion in the first quarter, driven by retail banking, fixed income markets and transaction services.
Citigroup also announced the board authorized up to $15 billion in additional share repurchases, boosting the company's total authorization to $16.3 billion.
Citigroup shares rose 35 cents, to close at $45.75 in Friday trading on the New York Stock Exchange.
Mark Batty, an equity analyst with PNC Advisors in Philadelphia, said Citigroup's decision to buy back stock "is a really positive statement by the board of directors" about the bank's future performance. Such a buyback reduces the number of shares outstanding, giving the remaining shareholders larger percentage ownership of the company.
Chief Executive Charles Prince said in a statement accompanying the report that the quarterly results reflected "strong growth in customer balances, which helped to offset the impact of spread compression from rising short-term rates." He added that fixed income and transactions services businesses "performed exceptionally."
Wachovia, meanwhile, posted record first-quarter profits of $1.62 billion, or $1.01 a share, up from $1.25 billion, or 94 cents, a year earlier. The bank attributed the strong results to gains by all its major businesses.
Excluding merger expenses, the Charlotte-based bank would have earned $1.65 billion, or $1.03 a share. That beat by two cents the $1.01 expected by analysts surveyed by research firm Thomson Financial.
Revenues for the quarter were $6.47 billion, up from $5.69 billion a year earlier.
Wachovia shares fell 59 cents to close at $49.52 on the NYSE.
"Credit quality continued to be stellar across the board," Ken Thompson, chairman and chief executive, told a conference call with bank analysts.
The only earnings trouble spot was Wachovia Securities, the retail brokerage operation, which saw business decline in the quarter in what the company described as a difficult market.
Thompson was asked if he thought the bank's stock price was affected by a Wall Street Journal report Friday that investment bank Morgan Stanley had considered merging with several banks, including Wachovia.
"I was as surprised as you to see our name in that article," Thompson said. "We are not contemplating anything like that."
In Cleveland, KeyCorp said first-quarter earnings rose 5.6 percent from a year ago, reflecting stronger demand for commercial loans and growth in fee income.
Net income increased to $264 million, or 64 cents per share, in the January-March period from $250 million, or 59 cents per share, a year earlier. Revenue rose to $1.18 billion from $1.12 billion last year.
Analysts surveyed by Thomson Financial expected earnings of 61 cents per share on sales of $1.15 billion in the latest quarter.
KeyCorp shares rose 75 cents, or 2.4 percent, to close at $32.27 on the NYSE.
KeyCorp's chairman and chief executive, Henry L. Meyer III, said the bank's nonperforming loans decreased for the 10th consecutive quarter to the lowest level in a decade.
"While a stronger economy contributed to these positive changes, they also reflect strategic business mix changes we've made to improve Key's risk profile," he said.
Looking ahead, the company said it expects second-quarter earnings to range from 62 cents to 66 cents per share, and predicts full-year income will range between $2.55 and $2.65 per share.
"We're cautiously optimistic, and maybe that is an overused term," Meyer said. "But this is a fragile marketplace."
Wachovia trifft Prognosen
Die US-Großbank Wachovia (Nachrichten) hat im ersten Quartal einen Nettogewinn von $1,62 Mrd bzw $1,01 je Aktie erzielt, nachdem im vergleichbaren Vorjahreszeitraum ein Gewinn von $1,25 Mrd bzw 94 Cents je Aktie erreicht worden ist. Abzüglich der Aufwendungen im Zusammenhang mit SouthTrust wurden $1,65 Mrd bzw $1,03 je Aktie verdient. Der Quartalserlös stieg von $5,69 Mrd auf $6,47 Mrd. Die von Thomson First Call erhobenen durchschnittlichen Analystenschätzungen liegen bei einem Gewinn von $1,01 je Aktie und Erlösen von $6,48 Mrd.
www.finanznachrichten.de/...ichten-2005-04/artikel-4677627.asp
Nachrichten | Wachovia trifft Prognosen
Die US-Großbank Wachovia (Nachrichten) hat im ersten Quartal einen Nettogewinn von $1,62 Mrd bzw $1,01 je Aktie erzielt, nachdem im vergleichbaren Vorjahreszeitraum ein Gewinn von $1,25 Mrd bzw 94 Cents je Aktie erreicht worden ist. Abzüglich der Aufwendungen im Zusammenhang mit SouthTrust wurden $1,65 Mrd bzw $1,03 je Aktie verdient. Der Quartalserlös stieg von $5,69 Mrd auf $6,47 Mrd. Die von Thomson First Call erhobenen durchschnittlichen Analystenschätzungen liegen bei einem Gewinn von $1,01 je Aktie und Erlösen von $6,48 Mrd.
www.finanznachrichten.de/...ichten-2005-04/artikel-4677627.asp
Nachrichten | Wachovia trifft Prognosen
Klingt interessant. Werde heute versuchen zu 0,01 reinzukommen! Wie gestern bei Smartire! Vielleicht gehen heute ja nochmal 40% !
fiel dann auf nur noch knapp 90%. WAVAP wird heute wieder 50% aufwärts steigen. Leider nur in den USA handelbar. Dürfte aber kein Problem sein. Mein KZ heute liegt bei 0,018. Also fast 100%. Warum? Schaut den Umsatz gestern an. Da ist noch viel Potenzial!
Vielleicht können wir heute die 0,01er Marke dauerhaft überschreiten
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