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Jeg sidder lige og ser bloomberg. To fra Bear Sterns er blevet arresteret for "svindel" i forbindelse med den financielle krise - subprime og...gøgogggokke
Forstår det egentlig ikke. Har ikke lyttet så nøje for jeg synes det er oplagt, at det måtte ske.
I sidste ende er det Alan Green Spans og Bush's skyld, så hvorfor arresterer man ikke dem?.
Alan Greenspan sænkede renten fra 6-8% til 1 % og så er det da klart, at der er noget et eller andet sted, der skal gå galt.
Det burde være forbudt at sænke renten så meget. Han skal da i spjældet for uagtsomt mandrab - der er sikkert nogen, der har mistet både hjem og livet pga. den subprime krise. USA er jo yderlighedernes land.
Jeg vil godt have et vildt rally nu. Kommer det, så falder BQI nok lige som sidste år. Det er lidt underligt. Den er noget anticyclisk i forhold til de andre aktier. Den stiger i den kedelige varme sommmerperiode.
Fred være med om folk vil have den skal stige med XXX% i år.
Den kan den sikkert godt.
заглянуть начали mutter немного о новых бычьем рынке сегодня вечером
она не спит и не вывозится на "магазин", но перспективных inquisitively на акции она хотела бы купить
PIIP??
Sådan noget volapyk. Det var pipisk, så det er åbenlyst hvorfor det ser underligt ud.
Meget muligt, men jeg kan ikke køre længere når jeg ikke har flere penge til benzin.
Så kan de for min skyld parkere flere Hummers ude i grøften.
Derude skygger de kun for solcellerne.
Motorola, telecom-equipment stocks retreat in early action
By Jeffry Bartash
Last update: 10:08 a.m. EDT June 19, 2008
WASHINGTON (MarketWatch) - Motorola Inc. (MOT:
Motorola, Inc
MOT 7.79, -0.81, -9.4%) stock fell as much as 7% in early Thursday trades while shares of rivals Nortel Networks Corp. (NT:
NT
Gad vide hvor langt den skal ned.
Oil drops on report China raising fuel prices
Thursday June 19, 9:58 am ET
By John Wilen, AP Business Writer
Oil prices drop on report China raising fuel prices, which could dampen demand
NEW YORK (AP) -- Oil prices dropped Thursday morning on reports that China is raising fuel prices, a move that could significantly cut the booming Asian nation's oil consumption. Retail gas prices slid overnight.
Light, sweet crude for July delivery fell $1.83 to $134.85 a barrel on the New York Mercantile Exchange after dropping more than $3 earlier.
Growing Chinese demand for oil and fuel have underpinned the multiyear rally in oil prices. But higher prices could crimp that demand.
"This could change the psychology of the market completely," said James Cordier, president of Tampa, Fla.-based trading firms Liberty Trading Group and OptionSellers.com.
However, declines were limited Thursday by news of an attack on a Nigerian oil field, which has taken about 200,000 barrels of crude per day out of production.
At the pump, meanwhile, gas prices slipped 0.2 cent overnight to a national average of $4.073 a gallon, according to a survey of stations by AAA and the Oil Price Information Service.
Man kan købe Brøndby billigt.
Det er en kanon aktie, med et kæmpe potentiale.
http://finance.yahoo.com/echarts?s=BIFB.CO#chart1:symbol=bifb.co;range=my;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Jeg har hørt de ejer 1 hektar, hvor de borer efter olie.
Etrade, Momentum ønskes.
Det er ikke nok at de hæver indtjeningsskøn selvom det er rart at se. Det er nu nok ikke dårligt at den er 1 ud af 4 financials der er steget i år?. Læste det tilfældigvis et eller andet sted.
http://finance.yahoo.com/q/ae?s=ETFC
US stocks head for mixed open ahead of data
Thursday June 19, 6:54 am ET
By Madlen Read, AP Business Writer
Stocks head for mixed open before readings on jobless claims, Philadelphia manufacturing
NEW YORK (AP) -- U.S. stocks headed for a mixed open Thursday as investors awaited readings on last week's jobless claims and manufacturing in the Philadelphia area.
The Labor Department's report on initial claims for unemployment, scheduled to be released at 8:30 a.m. Eastern time, is expected to show a decline for last week compared to the previous week. The Philadelphia Federal Reserve's report on manufacturing, scheduled for 10 a.m. EDT, is anticipated to show that activity is contracting this month, but at a slower pace than in May.
Also at 10 a.m. EDT, Wall Street will also be examining the Conference Board's May index of leading indicators, which should provide some additional information on the direction of the economy. Economists are forecasting a flat reading.
So far this week, the Dow Jones industrial average has fallen more than 270 points. Concerns about tight credit returned the market after profit declines at major investment banks and signals that the industry is going to have to raise more cash. With the nation's money centers under stress, it appears the economy will have a hard time rebounding; borrowing is essential to growth.
Dow futures on Thursday rose 7, or 0.06 percent, to 12,035. Standard & Poor's 500 index futures rose 0.30, or 0.02 percent, to 1,339.10. Nasdaq 100 index futures fell 0.75, or 0.04 percent, to 1,960.75.
Bond prices were little changed ahead of the market's open. The yield on the benchmark 10-year Treasury note, which moves opposite its price, edged up to to 4.15 percent from 4.14 percent late Wednesday.
The dollar traded mixed against other major currencies, while gold prices moved lower.
Crude oil futures dipped 88 cents to $135.80 in premarket electronic trading on the New York Mercantile Exchange.
Overseas, Japan's Nikkei stock average sank 2.23 percent. In midday trading, Britain's FTSE 100 was flat, Germany's DAX index declined 0.05 percent, and France's CAC-40 fell 0.10 percent.
New York Stock Exchange: http://www.nyse.com
Nasdaq Stock Market: http://www.nasdaq.com
Kerkorian increases stake in Ford to 6.49 percent
Thursday June 19, 6:50 am ET
Billionaire investor Kirk Kerkorian increases stake in Ford to 6.49 percent from 5.5 percent
DETROIT (AP) -- Billionaire investor Kirk Kerkorian's Tracinda Corp. reports it has increased its ownership stake in Ford Motor Co. to 6.49 percent from 5.5 percent.
Tracinda says Thursday in a filling the Securities and Exchange Commission that it now owns 140.8 million shares in the automaker.
The filing comes two days after Chief Executive Alan Mulally and Executive Chairman Bill Ford met with officials from Tracinda including Kerkorian to discuss the Dearborn-based automaker's transformation plan.
A Ford spokesman didn't have an immediate comment early Thursday on the filing.
Kerkorian has tried to leave his mark on Detroit's auto companies during the past decade.
Focus - The Sichuan Earthquake
Report summary:
China Quarterly Update
The global slowdown has started to affect China’s growth. High food and commodity prices keep inflation elevated, while record external surpluses challenge China’s monetary and exchange rate policy. More
http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/EASTASIAPACIFICEXT/CHINAEXTN/0,,contentMDK:21809870~pagePK:141137~piPK:141127~theSitePK:318950,00.html
A live online chat with Louis Kuijs, Sr Economist and author of the report, will be scheduled soon.
Related conversations:
New Bank report confirms East Asia remains robust amid global slowdown
Sichuan earthquake leaves migrant workers worrying about left-behind children
From the China Quarterly Update, June 19, 2008
On May 12, 2008 an earthquake of magnitude 8.0 struck southwestern China with the epicenter in Wenchuan County of Sichuan Province. This occurred 57 miles northwest of Sichuan's capital Chengdu in the middle of the afternoon when public buildings and offices were fully occupied. Tremors were felt throughout Asia. More than 30 aftershocks occurred.
An estimated 34 million people have been affected by the disaster. Fatalities have risen to 70,000, around 18,000 people are still missing, and 374,000 have been injured, and more than 5.7 million people have been evacuated from their homes. Six Provinces were affected by the earthquake: Sichuan, Gansu, Shaanxi, Henan, and Yunnan, and Hubei. The mountainous topography of the affected area makes transportation difficult and access challenging.
The damage to the affected area is very serious:
Agriculture: more than 30,000 hectares of farmland, 100,000 hectares of rice paddies, and a large amount of farming facilities—including more than 30,000 farm machines—were seriously damaged. The quake also destroyed 7,635 kilometers of irrigation canals, affecting crops on nearly 224,000 hectares of farmland.
Water and Sanitation: Destruction of 88,615 source facilities affects 3.6 million people in Sichuan. Authorities warn of contamination of drinking water in quake zones due to the presence of dead bodies, medical waste and the repeated use of disinfectants and plague prevention drugs. Overall 7,800 km water pipes were damaged in the quake. The water supply network in urban areas of the quake zone has been badly damaged, leaving 1.1 million people completely cut off, while damage to tanks and water treatment works affect millions others. 21 massive landslides have dammed rivers. 34 quake-formed lakes pose a risk, 7 have been controlled. The most risky Tangjiashan quake-created lake near Beichuan County has stored about 113 million m3 of water, and 30,000 nearby residents have been evacuated. Downstream floods may also occur when water begins to cascade over the top of dams. All quake lakes are monitored around-the-clock to assess their flood risks.
Housing: Sichuan Provincial Government reports that 5.5 million houses have collapsed and that another 5.9 million were severely damaged. This has made millions of people homeless. In addition, afraid of after shocks, many people are reluctant to return to their apartments.
Infrastructure: More than 21 million buildings are damaged in the earthquake-affected areas. The damaged power transmission lines add up to 1,978 km. Nearly 2,300 dams—including two large ones and 28 medium ones—were damaged. The quake has wrecked 22,000 km of road and tunnels, affecting 21 expressways, 15 inter-provincial highways and 2,756 rural roads.
Impact on China’s economy
Although the damage to the affected area is huge, the affected area accounts for only a small part of China’s economy. Preliminary estimates put direct damage and losses from the earthquake at RMB200 billion (US$28.8 billion), with indirect damage much higher. This is equivalent to 0.7 percent of China's GDP. What is distinctive about the earthquake is not the overall amount of damage, but rather its extreme concentration in a small area.
In the face of this kind of natural disaster, China is fortunate to have a large and diverse economy that can continue to function well and that can finance quick reconstruction in the affected area. Central and local governments have allocated RMB 70 billion (US$10.1 billion) of this year’s budget for the establishment of a reconstruction fund for the quake-hit regions. The Chinese government disaster relief fund has increased to RMB 23.1 billion (US$3.4 billion). Domestic and foreign donations to China's quake-hit regions have reached RMB 43.7 billion (US$6.2 billion).
All of this relief and reconstruction funding is additional demand in the economy. Because inflation has already been running at about 8 percent, it is important to offset this additional demand somewhere else in the economy. The central government aims to slow down other public spending to accommodate the earthquake reconstruction, and has called on provincial governments to participate in this effort. If the central authorities are concerned this initiative to contain overall fiscal spending may not work, a complementary measure would be to allow further monetary tightening.
World Bank assistance
In the aftermath of the earthquake the World Bank offered China a $1.5 million grant to support technical assistance for the reconstruction effort. The Bank also mobilized a team of international experts, many with experience in other recent earthquakes such as Turkey, Gujarat, and Aceh. On June 12 this expert team met with counterparts in the central and local government charged with planning the reconstruction effort. The state council has set up nine working groups focusing on different areas. The Bank will be providing technical support to the groups working on infrastructure, social sectors, and economic recovery.
Hvis det falder, så falder det, og stiger det så stiger det.
Frit oversat og fortolket fra "Henton".
http://chart.etrade.com/graphs/NOW._COMPX.d15.gif
De skriver noget om faren for en større nedtur og accelereren...Det lyder ikke godt. Det er som min semicykel, når jeg er på vej ned fra Mount Mons med 70 i timen.
Men det er da morsomt, at...begrændse opsiden ellers åbner det op for uklare situationer og alternative scenarier.
Hvorfor skriver de ikke bare at de ikke ved hvad der skal ske.
Jeg er sikker på at vi på lidt længere sigt skal op - 6-9 måneder ude i fremtiden bør en del aktier være steget endnu mere. Bulk stiger nok igen, minerals...synes faktisk det virker lidt svagere end sidste efterår/vinter, men det er nok bare sommmerpausen.
Olien er i topdollar, så investeringerne der bør flyde som honning i Dubai, guldet stiger nok snart igen, men jeg køber nok ikke drooy.
Two More Homebuilders Go Bust
by: Michael Shedlock posted on: June 18, 2008 | about stocks: ABK
*
The Wall Street Journal is reporting Two More Builders Buckle.
Two more home builders have filed for Chapter 11 bankruptcy protection in the face of declining home sales and troubled credit markets.
Oakridge Homes LLC in California and M.W. Johnson Construction Inc., which builds homes in Minnesota, Wisconsin and Florida, both sought Chapter 11 protection Friday. The companies are two of many home builders in bankruptcy proceedings, including Levitt and Sons LLC and Tousa Inc.
M.W. Johnson, of Lakeville, Minn., reported assets and debts in the range of $50 million to $100 million in its bankruptcy petition and said it has between 200 and 999 creditors. The home builder's affiliate, M.W. Johnson Construction of Florida Inc., also filed for bankruptcy.
Oakridge Homes didn't state in court papers whether it intends to reorganize or liquidate its assets during its stay in Chapter 11. An attorney for the company didn't return a call seeking comment by Tuesday afternoon. Oakridge, of Valencia, Calif., listed assets and debts in the range of $10 million to $50 million in its bankruptcy petition.
Cascade Of Bankruptcies
In the grand scheme of things, the amounts here seem small. However, dozens of subcontractors will not get paid and hundreds of subcontractor employees will not get paid. To anyone not getting paid this is a big deal. Numerous people are headed for bankruptcy over this and some small regional bank or creditor is going to going to take a very big (for them) hit over this. These things all add up and they are adding up all over the country.
We have yet see one of the huge national builders blow sky high, but we will. And we have not seen a large regional bank blow up yet either but we will.
Ambac (ABK) To Terminate Contract With Fitch
In other news, Bloomberg is reporting Ambac Financial to Terminate Fitch Ratings Contract.
Ambac Financial Group Inc., the second-largest bond insurer, is terminating its ratings contract with Fitch Ratings.
"Our decision to refocus and realign our business around our core expertise in the public finance and infrastructure sectors has led us to re-evaluate our ratings needs," New York- based Ambac said today in a statement. "As part of this review, we have asked Fitch to remove its ratings on Ambac and all its subsidiaries effective immediately."
Ambac's request follows one by rival MBIA Inc., which in March asked Fitch to stop providing a financial strength rating on its insurance unit. Bond insurers lost their top ratings after straying from backing municipal bonds, which rarely default, to guaranteeing securities such as collateralized debt obligations, which package pools of securities, including those backed by subprime mortgages, and slice them into pieces of varying risk.
The Point Is Moot
Since Ambac's guarantee is worthless, there is not going to be much if any new business for Fitch to rate. And as for getting back to "core expertise" (assuming Ambac has any which I highly doubt), I have to ask: What good is expertise when your business model is dead and you have no customers?
One final point: The equity markets have finally realized that Ambac and MBIA have a date with Zero but the ramifications of the inevitable downgrade of hundreds of municipal bond issues has certainly not been felt .... yet.
Michael Shedlock
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DROOY er begyndt at tjene penge.
Trailing P/E 2,7.
Jeg køber den nok aldrig igen.
http://www.drdgold.com/ir/ir_intro.as
---------------
Nuna minerals http://finance.google.com/finance?q=nuna+minerals
Det kan godt være det var sådan markedet reagerede, men jeg kunne ikke genkende en skid af det der hvor jeg sidder.
Det startede med at vælte ind i august måned - det tidspunkt, hvor de begyndte at flippe ud over housing, resessioner og financials, mens det i virkeligheden accelerede mere og mere indenfor minerals.
De må opleve en anderledes verden end jeg gør. Det fortsætter med at vælte ind.
Jeg er ikke overbevidst om, at BQI skal stige meget mere.
Jeg har netop fundet olie i min altankasse og regner med at starte eksporten om to måneder.
Jeg har netop sat UXG på min hemmelige spamliste, så kan den stå der sammen med northgate minerals.
Den faldt fra 6 til 3 den sidste år - og steg så til 6 igen, hvor den er nu.
Man kan ikke stole på aktier.
Hvis min mor var i live ville jeg heller ikke stole på hende.
ATML falder en del tilbage.
Jeg må vist helllere starte semicyklen igen.
Snakkes. Godnatter.
Sådan har det vist ofte været med BQI.
Kan huske sidste sommer hvor jeg havde en hel del i den.
Sådan er det desværre ikke i år, men så har jeg da en del i AMD og KLIC. De kan nok stige en del, men BQI stoler jeg ikke på overhovedet. Den trades af for mange fanatikere, der har olie, hvor vi andre tænker på damer.
We keep on trucking bumbumda dum.
USA's største trucker...og det går da fint.
YRC Worldwide shares jump after 2Q guidance backed
Wednesday June 18, 10:51 am ET
By Ernest Scheyder, AP Business Writer
YRC shares rally after 2nd-qtr guidance backed; analyst wary, but CEO notes fuel surcharge
NEW YORK (AP) -- Shares of YRC Worldwide Inc. rallied in Wednesday morning trading after the trucking company reaffirmed its second-quarter profit outlook, though an analyst kept a cautious outlook.
The stock rose $1.48, or 8.8 percent, to $18.25 in the morning session.
ADVERTISEMENT
Overland Park, Kan.-based YRC said Tuesday that, excluding certain one-time items, it still expects profit of 30 to 40 cents per share.
That's above the 29 cents per share that analysts polled by Thomson Financial expect, on average, for the period.
Wachovia Capital Markets analyst Justin B. Yagerman kept an "Underperform" rating on shares and encouraged investors to take profits on any stock rally due to the guidance news.
"Although YRC appears on-track to hit its second-quarter guidance, we remain cautious given the challenging freight environment, an ongoing network realignment and high operating leverage," Yagerman said in a note to clients.
More than one quarter's results are needed to show a "sustainable turnaround is in effect" at YRC, he said.
Bill Zollars, YRC's chairman, president and chief executive, agreed more than one period's results are needed to show a change, but took issue with some of Yagerman's other points.
"Even though the environment is tough and the economy doesn't show signs of improving, we've done a reasonable good job of doing what we say we'd do," Zollars said in a phone interview.
Part of the reason why the company stuck with its forecast despite high fuel prices may be connected with a fuel surcharge that has been in place since 1996.
It is updated every week, and oil prices around $130 per barrel translate into a 40 percent surcharge, Zollars said.
Meanwhile, in an update on the trucking industry Wednesday, Goldman Sachs analyst Chris Hussey predicted some companies will benefit from increased bankruptcies in the sector, which should push prices up.
He kept an "Attractive" view on truckers.
"We expect failures to increase over the coming quarters, forcing capacity out of the system and improving the current supply-demand imbalance," Hussey said in a note to clients.
Shares of YRC have slipped 2 percent so far this year. Final second-quarter results are set to be released July 21.
Motorola er nede i 52 week low.
Pippe må gerne flyve hen og købe noget Gemini og vanilieis.
I don't think so.
Jeg er begyndt at trade lidt ind og ud igen.
Synes faktisk det går rimeligt, men man skal heller ikke trade for meget.
Droppede lidt drys i går og strøede så lige lidt i NM - de er korreleret så det er ikke så kvikt, - NM faldt nu længerer tilbage og har ikke endnu vist samme vilje til at rejse sig.
http://chart.etrade.com/graphs/NOW.NM.d15.gif
NM er i 9.6 nu, det synes jeg trods alt er rimeligt billigt med en PE på 4 og en PEG på 0,21. De regner med lav vækst i drys til næste år. OM det sker, I don't know.
Jeg ved ingenting.
Pippen synes det er et gevaldigt bullmarkede i Europa.
..øh...det var de forkerte briller, det var de grønne og så vendte de på hovedet. Nu går hun i seng igen, for hun er kun vågen, når det er et bullmarkede?
Gad vide hvordan hun opdager, hvornår det går skidt - og godt.
Det er en genial ide.
Hvor meget kan jeg så få for IKKE at gå på arbejde?
Det må gi' kassen, sikkert det dobbelte af hvad jeg får for at gå på arbejde
Kulicke and Soffa: Momentum is Picking up
by: John Gilluly posted on: June 18, 2008 | about stocks: KLIC Font Size: PrintEmail Kulicke and Soffa (KLIC) hit a new trading high on rising volume over the last two days (June 16-17, 2008) - 2 1/2 times normal – after Bill Ong from Am Tech Research upgraded the shares. He cited strength in high-end handset and mobile devices units (smart phones like Blackberries (RIMM), Palm Treos (PALM), iPhones (AAPL) and 3G capable handsets).
The higher end handsets require intense miniaturization in order to pack newer mobile applications into the same small phone space. Thus the nod to KLIC’s new bonder line mentioned in a previous article. Investors who bought then have been able to catch the entirety of this upgrade cycle. Although KLIC has advanced 65% from its March lows, Mr. Ong placed a $10 target on the stock, citing its valuation. The stock continues to have a low P/E (10.66).
I think the best still lies ahead. This could be a year for the history books for KLIC.
There are a lot of ifs - which, if they line up - could be stellar. The ongoing price of gold is going to make the new bonders [and the smaller die sizes they interconnect] look really attractive to chipmakers hammered left and right by commodity pricing.
If the turnaround that's occurring in the memory space "spills over" to the rest of the sector, then any new bonder that cuts costs and enhances productivity will be welcomed.
The more "customizable" die sets and bonding arrangements made possible with the new machines also have the capacity to grow production for copper-bonding applications; plus there is a new generation of white light LEDS entering the laptop and handset markets that can be turned out on bonders. There is the added possibility that the larger LEDs required for residential, commercial, hotel and landscape lighting will become mainstream in 2008-2009, creating a booming subset for die and wire bonders which are able to produce LEDs by the millions in a short amount of time.
With the hubbub surrounding alternative energy, it’s a glaring fact that 20% of the electricity consumed in the U.S. goes for lighting. LEDs consume 1/100 of the electricity – and with better color modulation – than the combination of existing incandescent, fluorescent and CFC bulbs. I think incentives will be included in the upcoming National Alternative Energy Act that encourages LED conversion along with the use of solar and windpower.
And lastly, there is the advent of KLIC’s new die bonder line with some greatly enhanced applications. If it gets favorable reviews, and the bugs are worked out in the testing phase, additional orders (cash $) will come streaming in for both die bonders and ball bonders during 2H’2008 and 1Q’2009.
Arguably, this has been a very tough correction for chip equip and chip makers, especially the memory makers, but Kulicke and Soffa has come out of trough industry conditions with a profitable balance sheet and a clear mission to de-lever the company in the coming year. It's a whole new ball game for KLIC. I continue to think a reasonable target is a P/E multiple of 20 with a price of $14. One might say I'm overly bullish, but if this emerging trend continues to be our friend, the facts will speak for themselves.
Gad vide, den kan vist ikke købes
Ok - det her linker ikke rigtigt: De søger en lang række teknikere.
18 medarbejdere til udvikling af bølgeenergi (329108843)
Wave Star Energy
Arbejdssted: Storkøbenhavn
Oprettet : 11-06-2008 Udløber : 26-07-2008
http://www.jobfinder.dk/index.hts?sc=&tc=1213768498941
http://www.wavestarenergy.com/
Kiggede bølgekraft igennem for 8 måneder siden. Ikke de store ideer men sådan er det altid med de områder. Ideerne kan man altid se når de er steget 50 gange.
Hold da op. Jeg fik desværre solgt de fleste FMD - pga ja man har jo brændt nallerne et par gange og så bliver man nemmere nervøs.
Ja FMD stiger også. Hurtige penge er også fine penge.
Banking turnaround likely in '09: Goldman
By Associated Press June 17
Four major hurdles must be crossed before a broad recovery in the banking sector, and that might not occur for another six to nine months, according to a new research report from Goldman Sachs.
The sector is only likely to rebound broadly when credit costs have stabilized, banks complete a process of recapitalization, consensus estimate ranges for earnings narrow and the yield curve steepens, Goldman Sachs analysts wrote in the report, which it based on looking at past credit cycles.
Goldman Sachs estimates credit losses resulting from continued deterioration in the mortgage and lending markets will not peak until early 2009, making a broad-based rally in the sector unlikely before the end of 2008. Goldman Sachs estimates peak losses will occur during the first quarter of 2009, with charge-off ratios reaching, on average, 1.39 percent.
Charge-off ratios were at about 0.95 percent during the first quarter, and Goldman Sachs expects them to rise to about 1.12 percent for the second quarter. Charge-offs are loans written off as not being repaid. The ratio measures charge-offs as a percentage of the size of a bank's total loan portfolio.
Banks also must continue to raise new capital before share prices can rebound. Goldman Sachs estimates the recapitalization process is about two-thirds complete for U.S. banks and the risk of insolvency has been significantly reduced. U.S. banks have raised about $120 billion and will need to raise an additional $65 billion, Goldman Sachs wrote in the report.
But with loss estimates still changing and some banks still needing to raise capital, analyst estimates vary widely from bank to bank, Goldman Sachs said.
The variations in future earnings estimates means there is no agreement where earnings or book value of banks will stabilize during the credit downturn, according to the report.
"We watch for a tightening of the consensus range, which is at record highs," Goldman Sachs said in the report. "When the range tightens, it will signal confidence in where book values stabilize."
The one factor likely already completed is the steepening of the yield curve, Goldman Sachs said. The Federal Reserve has significantly cut interest rates to try and help boost the financial markets and the economy, which has led to a steeper yield curve.
But, Goldman Sachs notes a steepening yield curve during this cycle might not provide the benefit of past cycles because banks earn more money on fees now and the easing by the Fed has yet to improve tight credit conditions.
Because of revisions to credit costs and loss estimates, Goldman Sachs also reduced price targets and 2008, 2009 and 2010 earnings estimates for some national, regional and trust banks because of the likely continued increase of credit-related losses.
Among 21 banks it covers in the space, Goldman Sachs, on average, cut 2008 estimates by 9 percent, 2009 estimates by 4 percent and 2010 estimates by 2 percent to account for greater credit losses.
Comerica Inc.'s 2008 estimate was cut the furthest. Goldman Sachs reduced its 2008 estimate for Comerica 34 percent to $1.75 per share.
Shares of Comerica fell 37 cents to $31.65 in afternoon trading as broader markets declined, including much of the financial sector.
Western Alliance Bancorp's 2009 and 2010 estimates were reduced the most. The 2009 estimate was cut 17 percent to $1 per share, while the 2010 estimate was lowered 14 percent to $1.25 per share.
Western Alliance shares fell 21 cents, or 2.3 percent, to $8.94.
Price targets among the group of banks were cut, on average, 14 percent. Huntington Bancshares Inc.'s price target was cut the most as Goldman Sachs reduced the target 43 percent to $6.
Shares of Huntington Bancshares fell 40 cents, or 6 percent, to $6.27.
Housing starts in May hit 1991 low
Tuesday June 17, 9:19 am ET
WASHINGTON (Reuters) - U.S. housing starts slid 3.3 percent in May to their lowest level in more than 17 years, while permits for future construction also fell, signaling more weakness ahead for the battered U.S. housing sector.
The Commerce Department on Tuesday said housing starts set an annual pace of 975,000 units in May, the lowest since March 1991. Economists polled before the report were expecting a 980,000 unit rate. The April starts figure was revised downward to 1.008 million from the 1.032 million originally reported.
U.S. stock futures remained positive after the release of housing data and a separate report on the producer price index, which was higher than expected. The U.S. dollar slipped and Treasuries held gains after the data was released.
Building permits fell to an annual rate of 969,000, slightly higher than the 960,000 rate expected by economists.
The housing market has been battered for months by failing mortgages and uncertainty about when the sector might recover. Across the regions, there were some mixed signals about the health of the housing sector.
The Northeast saw a 61.5 percent jump in May housing starts from the previous month while the region set a record low level of housing permits in single-family homes.
Starts were off in all other regions with building down 25 percent in the Midwest, 10.3 percent in the West and 4.4 percent in the South.
(Reporting by Patrick Rucker, editing by Neil Stempleman)
Bulkerne stiger idag. Papegøjen blev kølhalet.
Kællingen har jo selectiv hukommelse.
Hun glemmer de dage hvor markedet falder med 3% og mere.
De oliefolk har tabt snøvsen.
De kan snart ikke tænke på andet.
Hønselort har været en meget bedre forretning, så jeg forstår dig ikke helt.
TNH....kigger aldrig tilbage mere.
Hvis man venter længe nok så stiger hønselort også til 250 dollars pr. tønde.
BQI er næsten i 6.
Indtil videre har jeg da gevindster på alle dem jeg har skrevet jeg satser på.
- altså dem jeg har samlet større poster i, i de sidste 5-6 måneder.
At der så er en del småposter som indtil videre ligger smålunkne rundt omkring er en del af spillet.
Gemini er den jeg har den største post i, resten af drillerne har ikke været værd at satse på og jeg vil ikke bruge ret meget tid på dem. Det har været en lang skuffelse i de canadiske og de andre rundt omkring er steget for længe siden. Dem har jeg smidt ud.
Kede mig har jeg ikke haft tid til i en del år efterhånden. Hvordan du får tid til at grille fatter jeg ikke.
Ja drys...hvis det er den du tænker på, der har jeg 1000 dollars plus nu.
- og jeg har faktisk ikke fået ret meget ud af oliedrillerne siden det startede i 2004. Synes faktisk det er dybt deprimerende.
Du har jo brændsår over det hele, og har haft det i omtrent...ja vel snart i to år med alt det norske sorte pis.
Jeg tror han tager fejl, men det betyder ikke noget.
Jeg har mere i tech og andre områder end olie.
Level2 er vist begyndt at virke igen.
http://www.level2quotes.com/
Kigger lidt på drys. Min sidste dille efter jeg syntes jeg fik den relativt billigt. Gik de andre igennem også, der er flere der er faldet ret meget.
Det er også vigtigt at være opmærksom på, at olieaktierne sagtens kan falde tilbage og olien også sagtens kan falde. Så kan det godt være man først finder en fornuftig forklaring bagefter.