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Zacks Analyst Blog Highlights: J. Crew Group Inc., JPMorgan Chase, Fifth Third Bancorp, U.S. Bancorp and Zions Bancorp
Nov. 27 (Bloomberg) -- Carrefour SA, Europe’s biggest retailer, was rated “buy” in new coverage at Citigroup Inc., which said “the market will be surprised by the strength of earnings recovery in 2010.”
Nov. 27 (Bloomberg) -- Fortis, owner of Belgium’s biggest insurer, was rated “outperform” in new coverage at Credit Suisse Group AG, which said the stock was “fundamentally undervalued.”
Nov. 27 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading . Stock symbols are in parentheses and share prices are as of 8 a.m. in New York.
Nov. 27 (Bloomberg) -- DSG International Plc, the U.K.’s largest consumer-electronics retailer, was cut to “sell” from “neutral” at Goldman Sachs Group Inc., which cited “weak supply chain positioning and a high and fixed cost base.”
Nov. 27 (Bloomberg) -- Home Retail Group Plc, the owner of Argos stores in the U.K., was cut to “sell” from “neutral” at Goldman Sachs Group Inc., which cited “increased competition in all geographies.”
Nov. 27 (Bloomberg) -- Kesa Electricals Plc, Europe’s third- largest electronics retailer, was cut to “sell” from “buy” at Goldman Sachs Group Inc., which said the company “faces significant structural challenges.”
Nov. 26 (Bloomberg) -- Deutsche Bank AG appointed Thomas Mayer as its chief economist and head of research, the company said in an e-mailed statement.
Nov. 27 (Bloomberg) -- Japanese officials are more likely focused on the exchange rate of the yen versus China’s yuan rather than against the dollar, according to Citigroup Inc., citing the fact that China is Japan’s biggest trading partner.
Nov. 27 (Bloomberg) -- China’s real-estate prices will likely continue to gain in the next three to five months on strong liquidity and rising inflationary expectations, according to Deutsche Bank AG in a report.
Nov. 27 (Bloomberg) -- Goldman Sachs Group Inc. estimated Dubai’s attempt to reschedule its debt will have “a manageable impact” on HSBC Holdings Plc and Standard Chartered Plc.
NEW YORK (AP) -- Shares of some top finance companies are down at 10 a.m.: Bank of America fell $.33 or 2.1 percent, to $15.62. Citigroup fell $.08 or 1.9 percent, to $4.09. JPMorgan Chase fell $.46 or 1.1 percent, to $41.70.
Nov. 27 (Bloomberg) -- Royal Bank of Scotland Group Plc was the biggest underwriter of loans to Dubai World, the state company seeking to reschedule debt, while HSBC Holdings Plc has the most at risk in the United Arab Emirates, according to JPMorgan Chase & Co.
With the fallout from the Dubai debt crisis just hitting in the U.S., the big banks including HSBC, Citigroup and Goldman Sachs are taking it on the chin in Friday tradnig.
European banks have 13 billion euros' worth of exposure to debt-laden Dubai, Swiss lender Credit Suisse estimated on Thursday after the Gulf state shocked investors by moving to suspend some repayments.
Nov. 27 (Bloomberg) -- Royal Bank of Scotland Group Plc underwrote more loans than any institution to Dubai World, the state company seeking to reschedule debt, while HSBC Holdings Plc has the most at risk in the United Arab Emirates, according to JPMorgan Chase & Co.
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