is enjoying a new career in health care
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
HURN broke through through 20.50 -NICE-
ALD bottom bounce and analyst upgrade play
ALD running on analyst upgrade and chart bottom bounce
ALD up 8% in pre-market Chart and Analyst upgrade play
HURN looking strong during the CC -Do you have a 5-min and 15-min chart available?
HURN -BOOM- Broke through $20
HURN Broke thru $19 surging hard the last 10 minutes going to be a run for EOD
BB squeezing tightly on HURN, indicators moving up, volume coming in that MA 21 looks good
with 20k shares- I'm glad you dumped also, I was watching it after your post but have been playing it conservative lately & didn't buy -my reservations are now confirmed
Dropped 25% on the earnings release (see below)
SAN FRANCISCO (MarketWatch) -- Blockbuster Inc. (BBI:$0.86,00$0.02,002.38%) said late Thursday that its second-quarter loss narrowed to $39.7 million, or 21 cents a share, from $44.7 million, or 23 cents a share, in the year-ago period. Excluding one-time items, the video chain would have reported a loss of 19 cents a share for the latest period. Revenue fell to $1.02 billion from $1.3 billion last year. Analysts surveyed by FactSet Research estimated a quarterly loss of 10 cents a share on revenue of $1.11 billion.
BBI trending back toward HOD
Sorry penny, I haven't had a chance to talk to anyone since my day job has been brutal (60hrs) this week -hope to get a chance to socialize with my old team next week.
Believe it or not I'm actually a recipient of email notifications from that Ihuber (think it's the same person) ONLY to be aware of plays to stay away from when looking at charts, trends and volume alerts.
It's always good to know when a play is P&D based so I know to ignore it on alerts~
Hope the P-Shift board is enjoying their weekend
STKL -Nice weekly trend, will have to look at the other short term charts
info to provike thought....
JPMorgan, Goldman Sachs Profit Surge is an Accounting Mirage, Not a Sustainable Sector Trend
By Jason Simpkins
Managing Editor
Money Morning
It takes more than two to make a trend.
JPMorgan Chase & Co. (NYSE: JPM) yesterday (Thursday) became the second major U.S. investment bank – following Goldman Sachs Group Inc. (NYSE: GS) – to this week report windfall profits for the second-quarter. That’s helped fuel a four-day advance in U.S. stocks that’s seen the Dow Jones Industrial Average surge 7%.
Unfortunately, these two decidedly positive developments don’t necessarily indicate that better days have arrived for the U.S. banking sector.
To the contrary, many analysts – including Money Morning Investment Director Keith Fitz-Gerald – say these profits are merely a mirage created by an obscure accounting rule that allows banks to transform “toxic debt” on their balance sheets into income.
JPMorgan, the second-largest U.S. bank, said that that second-quarter profits were $2.7 billion, a jump of 36% from a year ago and 27% from the previous quarter.
A $1.1 billion, one-time reduction that resulted from the decision to repay $25 billion in Troubled Asset Relief Program (TARP) funds was offset by strong gains at the firm’s investment banking division.
Profit at JPMorgan’s investment banking division more than tripled as a result of record investment-banking fees and the strong performance in the fixed-income market. The investment-banking operations generated $1.47 billion of profit, almost quadruple the amount earned in last year’s second quarter.
Investment-banking fees – which zoomed 29% from a year ago and 62% from the first quarter – totaled $2.2 billion, and were a "record for any investment bank in any quarter," according to JPMorgan Chief Financial Officer Michael J. Cavanagh.
JPMorgan’s earnings in the first half of 2009 grew 11% to $4.86 billion, or 68 cents a share, from $4.38 billion, or $1.20 a share, in the first six months of 2008. Revenue jumped 43%, reaching $50.6 billion, from $35.3 billion last year.
JPMorgan’s announcement follows an equally impressive earnings report by rival Goldman Sachs, the largest investment bank in the country. Goldman said Tuesday that its revenue in the three months ended June 26 was $13.8 billion, compared with $9.43 billion in the first quarter and $9.42 billion in the second quarter a year earlier. Net income rose to $3.44 billion, or $4.93 a share.
Still, despite these banks’ stellar results, analysts are hesitant to say that the U.S. financial sector has bottomed, meaning that a rebound is under way.
Fitz-Gerald said last month that large investment banks like Goldman Sachs and JPMorgan would almost certainly generate record profits in the first half of the year as a result of less competition, favorable interest rates, and relaxed accounting standards.
Indeed, the Financial Accounting Standards Board has made it possible for the biggest U.S. banks to book profits on loans that have not been fully repaid.
“Called ‘accretable yield,’ these mega banks will book income on loans that have ‘reduced credit quality’ by recognizing the value of the bonds on their balance sheets and the cash flow those securities are expected to earn,” Fitz-Gerald said. “Please understand, we’re not talking about cash that’s already been earned, and not cash in the bank … we’re talking about cash flow those banks are expected to earn.”
In JPMorgan’s case, the firm took on $118.2 billion in toxic debt when it acquired Washington Mutual Inc. last year. As a receiver of that debt, JPMorgan was allowed to mark that debt down to “fair value,” or $88.65 billion. But now, the bank says that those same debts may appreciate by some $29.1 billion over the life of the loans. And as those loans are paid back, that money is booked as profit.
Sign up below…
and we’ll send you a new investment report for free:
“Credit Crisis Report.”
Of course, this distorts banks’ earnings and camouflages the deterioration in other banking segments.
For instance, consumer-loan losses continued to rise, as did losses on businesses loans. Retail banking earnings of $15 million were down sharply from earnings of $474 million in the first quarter, and $503 million in the second quarter of 2008. The consumer lending division reported a net loss of $955 million, compared with a net loss of $171 million in the prior year and $389 million in the prior quarter.
Home equity charge-offs jumped 4.61% to $1.3 billion. The bank warned that prime mortgage losses may be $600 million “over the next several quarters,” and that subprime losses may be $500 million.
Credit cards lost $672 million, compared to income of $250 million in the second-quarter last year. The bank warned that losses in its Chase credit-card portfolio may be 10% next quarter and will be “highly dependent” on unemployment after that. The unemployment rate rose to 9.5% in June, its highest level in two decades.
The managed charge-off rate, which generally tracks unemployment, climbed to 10.03% from 7.72% in the first quarter and 4.98% in the year-earlier period.
“For JPMorgan Chase, the challenge going forward is going to continue to be deterioration of credit,” Gerard Cassidy, a banking analyst at RBC Capital Markets, said in a Bloomberg Radio interview.
JPMorgan, Goldman Sachs Profit Surge is an Accounting Mirage, Not a Sustainable Sector Trend
By Jason Simpkins
Managing Editor
Money Morning
It takes more than two to make a trend.
JPMorgan Chase & Co. (NYSE: JPM) yesterday (Thursday) became the second major U.S. investment bank – following Goldman Sachs Group Inc. (NYSE: GS) – to this week report windfall profits for the second-quarter. That’s helped fuel a four-day advance in U.S. stocks that’s seen the Dow Jones Industrial Average surge 7%.
Unfortunately, these two decidedly positive developments don’t necessarily indicate that better days have arrived for the U.S. banking sector.
To the contrary, many analysts – including Money Morning Investment Director Keith Fitz-Gerald – say these profits are merely a mirage created by an obscure accounting rule that allows banks to transform “toxic debt” on their balance sheets into income.
JPMorgan, the second-largest U.S. bank, said that that second-quarter profits were $2.7 billion, a jump of 36% from a year ago and 27% from the previous quarter.
A $1.1 billion, one-time reduction that resulted from the decision to repay $25 billion in Troubled Asset Relief Program (TARP) funds was offset by strong gains at the firm’s investment banking division.
Profit at JPMorgan’s investment banking division more than tripled as a result of record investment-banking fees and the strong performance in the fixed-income market. The investment-banking operations generated $1.47 billion of profit, almost quadruple the amount earned in last year’s second quarter.
Investment-banking fees – which zoomed 29% from a year ago and 62% from the first quarter – totaled $2.2 billion, and were a "record for any investment bank in any quarter," according to JPMorgan Chief Financial Officer Michael J. Cavanagh.
JPMorgan’s earnings in the first half of 2009 grew 11% to $4.86 billion, or 68 cents a share, from $4.38 billion, or $1.20 a share, in the first six months of 2008. Revenue jumped 43%, reaching $50.6 billion, from $35.3 billion last year.
JPMorgan’s announcement follows an equally impressive earnings report by rival Goldman Sachs, the largest investment bank in the country. Goldman said Tuesday that its revenue in the three months ended June 26 was $13.8 billion, compared with $9.43 billion in the first quarter and $9.42 billion in the second quarter a year earlier. Net income rose to $3.44 billion, or $4.93 a share.
Still, despite these banks’ stellar results, analysts are hesitant to say that the U.S. financial sector has bottomed, meaning that a rebound is under way.
Fitz-Gerald said last month that large investment banks like Goldman Sachs and JPMorgan would almost certainly generate record profits in the first half of the year as a result of less competition, favorable interest rates, and relaxed accounting standards.
Indeed, the Financial Accounting Standards Board has made it possible for the biggest U.S. banks to book profits on loans that have not been fully repaid.
“Called ‘accretable yield,’ these mega banks will book income on loans that have ‘reduced credit quality’ by recognizing the value of the bonds on their balance sheets and the cash flow those securities are expected to earn,” Fitz-Gerald said. “Please understand, we’re not talking about cash that’s already been earned, and not cash in the bank … we’re talking about cash flow those banks are expected to earn.”
In JPMorgan’s case, the firm took on $118.2 billion in toxic debt when it acquired Washington Mutual Inc. last year. As a receiver of that debt, JPMorgan was allowed to mark that debt down to “fair value,” or $88.65 billion. But now, the bank says that those same debts may appreciate by some $29.1 billion over the life of the loans. And as those loans are paid back, that money is booked as profit.
Sign up below…
and we’ll send you a new investment report for free:
“Credit Crisis Report.”
Of course, this distorts banks’ earnings and camouflages the deterioration in other banking segments.
For instance, consumer-loan losses continued to rise, as did losses on businesses loans. Retail banking earnings of $15 million were down sharply from earnings of $474 million in the first quarter, and $503 million in the second quarter of 2008. The consumer lending division reported a net loss of $955 million, compared with a net loss of $171 million in the prior year and $389 million in the prior quarter.
Home equity charge-offs jumped 4.61% to $1.3 billion. The bank warned that prime mortgage losses may be $600 million “over the next several quarters,” and that subprime losses may be $500 million.
Credit cards lost $672 million, compared to income of $250 million in the second-quarter last year. The bank warned that losses in its Chase credit-card portfolio may be 10% next quarter and will be “highly dependent” on unemployment after that. The unemployment rate rose to 9.5% in June, its highest level in two decades.
The managed charge-off rate, which generally tracks unemployment, climbed to 10.03% from 7.72% in the first quarter and 4.98% in the year-earlier period.
“For JPMorgan Chase, the challenge going forward is going to continue to be deterioration of credit,” Gerard Cassidy, a banking analyst at RBC Capital Markets, said in a Bloomberg Radio interview.
JPMorgan, Goldman Sachs Profit Surge is an Accounting Mirage, Not a Sustainable Sector Trend
By Jason Simpkins
Managing Editor
Money Morning
It takes more than two to make a trend.
JPMorgan Chase & Co. (NYSE: JPM) yesterday (Thursday) became the second major U.S. investment bank – following Goldman Sachs Group Inc. (NYSE: GS) – to this week report windfall profits for the second-quarter. That’s helped fuel a four-day advance in U.S. stocks that’s seen the Dow Jones Industrial Average surge 7%.
Unfortunately, these two decidedly positive developments don’t necessarily indicate that better days have arrived for the U.S. banking sector.
To the contrary, many analysts – including Money Morning Investment Director Keith Fitz-Gerald – say these profits are merely a mirage created by an obscure accounting rule that allows banks to transform “toxic debt” on their balance sheets into income.
JPMorgan, the second-largest U.S. bank, said that that second-quarter profits were $2.7 billion, a jump of 36% from a year ago and 27% from the previous quarter.
A $1.1 billion, one-time reduction that resulted from the decision to repay $25 billion in Troubled Asset Relief Program (TARP) funds was offset by strong gains at the firm’s investment banking division.
Profit at JPMorgan’s investment banking division more than tripled as a result of record investment-banking fees and the strong performance in the fixed-income market. The investment-banking operations generated $1.47 billion of profit, almost quadruple the amount earned in last year’s second quarter.
Investment-banking fees – which zoomed 29% from a year ago and 62% from the first quarter – totaled $2.2 billion, and were a "record for any investment bank in any quarter," according to JPMorgan Chief Financial Officer Michael J. Cavanagh.
JPMorgan’s earnings in the first half of 2009 grew 11% to $4.86 billion, or 68 cents a share, from $4.38 billion, or $1.20 a share, in the first six months of 2008. Revenue jumped 43%, reaching $50.6 billion, from $35.3 billion last year.
JPMorgan’s announcement follows an equally impressive earnings report by rival Goldman Sachs, the largest investment bank in the country. Goldman said Tuesday that its revenue in the three months ended June 26 was $13.8 billion, compared with $9.43 billion in the first quarter and $9.42 billion in the second quarter a year earlier. Net income rose to $3.44 billion, or $4.93 a share.
Still, despite these banks’ stellar results, analysts are hesitant to say that the U.S. financial sector has bottomed, meaning that a rebound is under way.
Fitz-Gerald said last month that large investment banks like Goldman Sachs and JPMorgan would almost certainly generate record profits in the first half of the year as a result of less competition, favorable interest rates, and relaxed accounting standards.
Indeed, the Financial Accounting Standards Board has made it possible for the biggest U.S. banks to book profits on loans that have not been fully repaid.
“Called ‘accretable yield,’ these mega banks will book income on loans that have ‘reduced credit quality’ by recognizing the value of the bonds on their balance sheets and the cash flow those securities are expected to earn,” Fitz-Gerald said. “Please understand, we’re not talking about cash that’s already been earned, and not cash in the bank … we’re talking about cash flow those banks are expected to earn.”
In JPMorgan’s case, the firm took on $118.2 billion in toxic debt when it acquired Washington Mutual Inc. last year. As a receiver of that debt, JPMorgan was allowed to mark that debt down to “fair value,” or $88.65 billion. But now, the bank says that those same debts may appreciate by some $29.1 billion over the life of the loans. And as those loans are paid back, that money is booked as profit.
Sign up below…
and we’ll send you a new investment report for free:
“Credit Crisis Report.”
Of course, this distorts banks’ earnings and camouflages the deterioration in other banking segments.
For instance, consumer-loan losses continued to rise, as did losses on businesses loans. Retail banking earnings of $15 million were down sharply from earnings of $474 million in the first quarter, and $503 million in the second quarter of 2008. The consumer lending division reported a net loss of $955 million, compared with a net loss of $171 million in the prior year and $389 million in the prior quarter.
Home equity charge-offs jumped 4.61% to $1.3 billion. The bank warned that prime mortgage losses may be $600 million “over the next several quarters,” and that subprime losses may be $500 million.
Credit cards lost $672 million, compared to income of $250 million in the second-quarter last year. The bank warned that losses in its Chase credit-card portfolio may be 10% next quarter and will be “highly dependent” on unemployment after that. The unemployment rate rose to 9.5% in June, its highest level in two decades.
The managed charge-off rate, which generally tracks unemployment, climbed to 10.03% from 7.72% in the first quarter and 4.98% in the year-earlier period.
“For JPMorgan Chase, the challenge going forward is going to continue to be deterioration of credit,” Gerard Cassidy, a banking analyst at RBC Capital Markets, said in a Bloomberg Radio interview.
We'll see tomorrow- IF I'm using my logical analysis I would deduce that the news had very little effect on the pps true value (news was priced in, already or fin news was expected in current climate, etc.) except for a few sellers who were in for a swing and hoping for more positive financial results (play the news).
IMO if traders were expecting different news the volume AH (40,985) would have been much more representative of volume we saw today (2.21 Million) during the open market trading session.
60 days ago FRP pps was approx 200% of todays HOD
Hopefully IF it dips it is short-term (should be IMO)- Below are the T&S stats for AH trading
FRP T&S AH (very low volume in comparison to the trading volume today during market hours)
0.61 1000 NYE 19:51:07
.61 2891 NYE 19:24:56
0.60 109 NDD 19:24:26
0.60 1361 NLS 19:17:22
0.61 1500 NYE 19:15:31
0.62 2000 NLS 18:53:06
0.60 639 NLS 18:52:16
0.60 1000 NLS 18:52:16
0.63 200 NYE 18:50:52
0.62 1600 NLS 18:37:08
0.63 100 NLS 18:36:48
0.62 100 NYE 18:36:47
0.63 2000 NLS 18:33:56
0.64 2000 NLS 18:32:31
0.64 3361 NYE 18:13:28
0.61 2500 NDD 18:08:16
0.63 2500 NLS 18:05:52
0.6401 5000 ISE 17:52:01
0.65 1000 NLS 17:51:45
0.68 1000 NLS 16:52:48
0.71 1584 NDD 16:46:46
0.71 840 NDD 16:19:39
0.70 6000 NDD 16:11:15
0.70 700 NYE 16:11:15
0.71 26000 NYE 16:02:16
0.70 5100 ISE 15:59:54
0.704 1500 NDD 15:59:54
0.70 2400 ISE 15:59:53
0.70 1500 ISE 15:59:53
0.70 2300 ISE 15:59:52
FRP T&S AH (very low volume in comparison to the trading volume today during market hours)
0.61 1000 NYE 19:51:07
.61 2891 NYE 19:24:56
0.60 109 NDD 19:24:26
0.60 1361 NLS 19:17:22
0.61 1500 NYE 19:15:31
0.62 2000 NLS 18:53:06
0.60 639 NLS 18:52:16
0.60 1000 NLS 18:52:16
0.63 200 NYE 18:50:52
0.62 1600 NLS 18:37:08
0.63 100 NLS 18:36:48
0.62 100 NYE 18:36:47
0.63 2000 NLS 18:33:56
0.64 2000 NLS 18:32:31
0.64 3361 NYE 18:13:28
0.61 2500 NDD 18:08:16
0.63 2500 NLS 18:05:52
0.6401 5000 ISE 17:52:01
0.65 1000 NLS 17:51:45
0.68 1000 NLS 16:52:48
0.71 1584 NDD 16:46:46
0.71 840 NDD 16:19:39
0.70 6000 NDD 16:11:15
0.70 700 NYE 16:11:15
0.71 26000 NYE 16:02:16
0.70 5100 ISE 15:59:54
0.704 1500 NDD 15:59:54
0.70 2400 ISE 15:59:53
0.70 1500 ISE 15:59:53
0.70 2300 ISE 15:59:52
IMO if it gaps down based in the LOW AH volume then I'd expect a bounce back to todays avg of .66 or higher
IMO the AH volume shouldn't dictate where tomorrow opens/ends since the volume isn't close market volume today
AH volume was less then 1% of total daily volume
PPS movement is on VERY low volume -less then 1% of the volume during todays market hours
FRP HIT .71s in last 5 minutes-going strong into the close
FRP printing .71s
Tell that seller @ .72 w/ 20980 share to back off....not much selling volume (after that) until .75 & .87
I had SQNM for months (mid-3$ avg), sold for a small loss right before the new up-trend and now look at it.... would have made thousands.... it happens to us all!
FRP breaking out of .70
FRP breaking through .70
I've done the same thing....dumped something I held for months only for it to run a few days after I sold
FRP breaking .70 and 320K in trade volume (between .68-.69) within the last 15min -large volume spike-
Nate did you dump your FRP already?
FRP 15min chart looking to breakout over .70 if volume continues increasing- Volume's been increasing 20% every 15min or so over the last 90 minutes
FRP broke out above your .62 -currently at .66
CVM weekly chart (link back) looks extremely strong -next week break through .54 & .60?
I would love to see the .60 break - it would definitely be WEEEE!
CVM back to .52 for you
CVM popping on volume
CVM moving up again on volume