"Big Banks" Shares Rebound a Day After Moody's Ratings Cuts
Five Star Equities Provides Stock Research on Citigroup and JPMorgan
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 06/26/12 -- U.S. bank stocks posted solid gains last Friday, despite Moody's Investors Service cutting the credit ratings of 15 banks globally. "It's been like a cloud over the sector," said Brian Gendreau, market strategist at Cetera Financial. "And look at who's going up: bank stocks. There are obviously some people who thought it would be much worse." Five Star Equities examines the outlook for companies in the Banking Industry and provides equity research on Citigroup Inc. (NYSE: C) and JPMorgan Chase & Co. (NYSE: JPM).
Access to the full company reports can be found at:
Of the six largest U.S. banks, only Wells Fargo maintained its credit rating. The revenues of the 5 major U.S. banks that received cuts -- JPMorgan, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley - decreased 11 percent from the year prior. The rating cuts by Moody's were the first since the financial crisis. Morgan Stanley emerged as "the clear winner" according to analysts at investment bank Keefe Bruyette & Woods. Many analysts were expecting Morgan Stanley's rating to be cut by three notches instead of the two it received.
Five Star Equities releases regular market updates on the Banking Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
"These downgrades will increase the cost of doing business for banks, either through reduced, or more costly, access to funding or the need to lodge extra collateral with creditors," said Daiwa Capital Markets analyst Michael Symonds
HSBC, Royal Bank of Canada and JPMorgan were the banks that received the highest ratings from Moody's Investors Service. The trio has been regarded as "safe-haven" banks as they are funded by deposits from millions of retail customers and rely less heavily on risky capital markets. Banks such as Bank of America, Citigroup, Morgan Stanley and Royal Bank of Scotland received some of the lowest credit ratings.
Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
Contact:
Five Star Equities
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 26.06.2012 - 06:20 Uhr
Sprache: Deutsch
News-ID 1127737
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
NEW YORK, NY
Phone:
Kategorie:
Investment Services & Trading
Anmerkungen:
Diese Pressemitteilung wurde bisher 230 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
""Big Banks" Shares Rebound a Day After Moody's Ratings Cuts
"
steht unter der journalistisch-redaktionellen Verantwortung von
Five Star Equities (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
