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DOW
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viruz7667
Senior |
21-Apr-2008 19:30
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Bank of America Earnings Fall 77% on Writedowns for Bad Debt By David Mildenberg April 21 (Bloomberg) -- Bank of America Corp., the second- largest U.S. bank, said profit dropped 77 percent as job losses and falling house prices caused more people to miss payments on credit cards and home loans. First-quarter net income declined to $1.21 billion, or 23 cents a share, from $5.26 billion, or $1.16 a share, a year earlier, the Charlotte, North Carolina-based company said today in a statement. The average estimate of 21 analysts surveyed by Bloomberg was 41 cents. The slide casts doubt on Chief Executive Officer Kenneth Lewis's goal to increase profit by at least 20 percent this year. The bank's consumer unit, which contributed more than 60 percent of operating income in 2007, faces a nationwide jump in unpaid debt and the highest unemployment rate since 2005. Overdue U.S. credit-card bills are the most in more than three years and foreclosures soared 57 percent in March. ``The decline in housing prices has to be solved for things to get better,'' said Chris Hagedorn, portfolio manager at Fifth Third Asset Management in Cincinnati, in an interview before earnings were disclosed. ``In terms of the maximum point of pain, I don't think we're there yet.'' Fifth Third manages $22 billion and owns Bank of America shares. Revenue fell 6 percent to $17.3 billion. Profit decreased to $1.09 billion in the consumer and small business unit, and fell to $115 million from $1.48 billion at the corporate and investment bank. To contact the reporter on this story: David Mildenberg in Charlotte, North Carolina, at 6587 or dmildenberg@bloomberg.net. Last Updated: April 21, 2008 07:09 EDT |
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AK_Francis
Supreme |
21-Apr-2008 18:31
Yells: "Happy go lucky, cheers." |
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yio hulu, good echo loh. cheers. lets go for beer leow. DJ may hv some correction tonite. Nonetheless AK may come back by 2145hrs, avoiding drown by the beer last night. Leow chou today. AK opine that Kepland and Kepcorp still hv room for improvement, esp Kepland. My view. But AK chicken up, I dumped 10 lots Kepland 5 mins before closed as EU market seemed not that promissing leh. Ok loh, made some beer money ok leow loh. As wise saying stated Night Long Dreams More, in Chinese, simply means, take what you hv first loh, don't be greedy. Ahhh ahhh, don't tell people my friend always laugh at me like that .
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Hulumas
Supreme |
21-Apr-2008 18:11
Yells: "INVEST but not TRADE please!" |
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Dear AK Francis, You get the point, I agree with you. Avoid any negative thinking in the first place, then your investment decision making could be justified!!! |
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AK_Francis
Supreme |
21-Apr-2008 18:04
Yells: "Happy go lucky, cheers." |
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Ayo yo, think wild loh! Intercontinental crude oil pipelines sabotaged, deep sea oil rigs sunk due to storms, Bird Monkey announces rate cut to damper subprime crisis so USD weaken, disasters in Iran and North Korea Neuclear plant, leading to massive hazardous radiations, killing B of peoples and affect nearby countries loh. Worst ah, giant meteoric stones hit earth, earth doomed loh, discovery channel shown last few days ah. The moral of the story is, bro/sis relax lah, jangan tension. Lets the policy makers to worry loh. | ||||
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cheongwee
Elite |
21-Apr-2008 14:00
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Hi, do you mind i ask what will cause dow to drop a few hundred point from now on, since the credit crunch are generally assume to be bottom by the masses? PLs comment. I do think a few, but let hear you out first. |
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cheongwee
Elite |
21-Apr-2008 13:57
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Out of the 30 components that make up the Dow Jones industrial average, Bank of America Corp., American Express Co., Merck & Co., McDonald's Corp., AT&T, DuPont, Boeing Co., 3M Co. and Microsoft Corp. will be reporting quarterly results this week. Above for your info. How do you think they will fare? I think solid result, Why? cause the weak dollar , make them profitable, i think quite bullish. I have read rumour fund ready to buy up the dow.pls DYODD. pls take this as info. Disclaimer apply. You still got to answer for your action out of this. |
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AK_Francis
Supreme |
21-Apr-2008 08:51
Yells: "Happy go lucky, cheers." |
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Mai thu leow, own time own targets carry on. 10 mins for you to think, if you didn't your home work last night. Cheers. | ||||
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Green8
Senior |
21-Apr-2008 08:00
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Iran will always reject increase in oil production. If rice and wheat producing countries form one united union like OPEC and controlling the price of rice and wheat.......more countries will face stagflation.World economy will be affected. |
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cheongwee
Elite |
21-Apr-2008 01:43
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Even with oil at record and dollar beaten and inflation blowing hot, the DOW still rally. It show that fund are confident that crises already bottom. Fundamentally,this should not be,we are very likely to be recession .But what are we to say, if fund think so. Play along, but be very alert, ready to run. It is still a trading market. Or it is a ploy by BBB to suck small fishes like us in and let us hold the babies for along times . DOYDD.Hope not, hope rally for real and sustainable. |
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cheongwee
Elite |
21-Apr-2008 01:33
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The Dow Jones Industrials: You pretty much know what my models are saying for the Dow: It's headed down to at least 11,000, probably even lower. If the Dow closes below 12,000 at any time, look out because it could fall under 10,000 in a jiffy! But here's the real action to watch for in 2008. Once the Dow falls to the 11,000 area and holds up successfully, there is a very high chance that it will be creating a base for a new bull market to emerge. One that could see the Dow move all the way up to 20,000. What would cause such a move, especially if the U.S. is in a recession? The answer is inflation. The weaker dollar would turn the Dow and other stocks into such bargains for foreign investors that they would pour money back into the U.S. to scoop up bargains left and right. This influx of capital would right the Dow, and send it on a new leg higher. Keep in mind that the Dow has already lost 70% of its purchasing power over the last seven years. It has failed to keep pace with inflation, and is losing ground big time to tangible asset prices. At some point, that will change, and the Dow will catch up with inflation again The above is a paragraph i copy and paste form Larry Edelson of weiss research institute of US. His some of the commetery got sudstance. If this is so ,those who got deep pocket of gut who buy and hold will be a big winner. I am looking at some blues.DYODD |
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DnApeh
Master |
19-Apr-2008 23:04
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I think buy, or at least hang on to your winners. No more selling into strenght for the time being. | ||||
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cashiertan
Elite |
19-Apr-2008 19:59
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based on 3 circles i made, do you think we can buy or sell? |
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pikachu
Veteran |
19-Apr-2008 10:43
Yells: "Holy Cow!" |
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Dow up 228 points! Monday will be a very good day. NEW YORK (CNNMoney.com) -- Stocks rallied Friday, ending the week higher, after strong earnings from Google reassured investors that earnings outside the financial sector seem to be holding up despite the economic slowdown. Wall Street also appeared to bet that Citigroup's results provided further signs that the worst for the financial sector has passed. The Dow Jones industrial average (INDU) gained 1.8%. The broader Standard & Poor's 500 (SPX) index gained 1.8%. The Nasdaq composite (COMP) surged 2.6%. The Russell 2000 small-cap index added 1.9%. The major gauges rallied on the week as well, as investors welcomed upbeat earnings from influential companies such as IBM, Intel and Coca-Cola. "IBM had good news, Google had good news, and there's a sense that many companies outside of the financial sectors are not doing terribly," said Ken Kam, portfolio manager of the Masters 100 fund (MOFQX). "It's a big change to go from anticipating worse news to anticipating better news," Kam said. Investors seemed to take in stride big quarterly losses from a variety of financial companies, including Merrill Lynch, Washington Mutual and Wachovia and better-than-expected results from JPMorgan Chase. "I think the reaction you're seeing, particularly to the financial earnings, is a sense of relief that there doesn't seem to be anything coming out of these companies that hasn't been feared or anticipated," said Douglas Altabef, managing director at Matrix Asset Advisors. |
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idesa168
Elite |
19-Apr-2008 00:26
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Dun mention. We are here to share, dun bring good thing into our coffins...LOL. TA is about human behaviour towards greed and fear and the pattern always repeats inself. One thing ppl must take note that TA "might" work for the US mkt as their mkt is more transparent and their mkt is extremely huge. There is no way a fund can manipulate a certain counter. However, Singapore mkt is too small to really apply TA. It's a bit kelong since it can be manipulated easily as fund needed to do so is just a fraction of what is needed in US company. I suggest ppl invest in fundamental company rather than rely on TA to profit from the change of trend. Have a nice weekend!
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DnApeh
Master |
19-Apr-2008 00:08
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Alamak, idesa168, now then you tell me. Otherwise, could have loaded more, LOL. Thanks for the link. | ||||
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idesa168
Elite |
18-Apr-2008 23:42
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LOL...you sounded so poor thing. Let me help....not an expert though. DOW 12,800 dropped to 11,800 and rised back to 12,800 and retraced back to 12,200 before making an uptrend which we are seeing now. Yes, perhaps you are spot on a cup and handle pattern which is bullish in general. However, TA can be as a guide only, can't be replace a bibble to follow. There are always "quotes" after all analysis saying "please put a stop loss if..." becos he knows it's not a sure thing. Alternatively, you can watch this clips about the cup noodle pattern.
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Fairygal
Veteran |
18-Apr-2008 22:27
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I only know the DOW, Nasdaq and S & P figures are pleasing to the eyes...... | ||||
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DnApeh
Master |
18-Apr-2008 22:22
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You all very bad leh, why nobody replied to my question leh?
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Naproxen
Veteran |
18-Apr-2008 21:35
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Beautiful figures now.......... | ||||
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cyjjerry85
Elite |
18-Apr-2008 21:21
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we have to anticipate the market sentiments now...there seem to be more of a reverse psychology play nowadays in the global market... on next Monday, we will see Bank of America reporting the finances which many expects it to be weak too...once again....even if it is weak, if the market perceives it as above analysts' forecast...it will spring upwards... yesterday was actually a hint already when Merill Lynch reported worst than analysts' forecast but yet the market ended flat +1.22 and even went up above into the greenery of +30...on a personal basis, i think the market is numb to the negative news...and on the other hand, there's also anticipation of Fed talking about rate cuts again (although i dun really think they might cut as inflation is quite bad now)...last but not least, the word "recession" recent weeks had been overtaken by the words "bottom out"
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