Opening Bell: 04.23.09

Author:
Publish date:

Credit Suisse Tops Analysts, Up In Swiss Trading (Bloomberg)
"Credit Suisse rose as much as 8.2 percent in Swiss trading after reporting net income of 2 billion Swiss francs ($1.7 billion), twice the median estimate of analysts surveyed by Bloomberg News. The Zurich-based bank rebounded from a 2.15 billion-franc loss in the year-earlier period."
US Reconsiders Releasing Bank's Needs After Tests (Bloomberg)
The government is considering revamping their stress test silence rules to include disclosure about which banks are going to need further capital injections (and to what degree) and which aren't.
Reuters Survey Suggests Sales Of Existing Homes Down Slightly (Reuters)
"Economists surveyed by Reuters expect sales of existing homes to have declined slightly to a 4.7 million annual rate in March from 4.72 million units in February."
SunTrust Banks Shows First Quarter Loss (Reuters)
The southern regional had a $714.8MM Goodwill charge due to real estate which significantly affected it's earnings:
"The net loss applicable to common shareholders was $875.4 million, or $2.49 per share, compared with a profit of $281.6 million, or 81 cents a share, a year earlier. Excluding the goodwill charge, Atlanta-based SunTrust said the loss was $160.6 million, or 46 cents per share. Analysts on average forecast a loss of 46 cents per share, according to Reuters Estimates. Revenue on a taxable equivalent basis rose 1 percent to $2.24 billion. Analysts expected $2.09 billion."
Madoff's Trading Firm Draws Offers (DealBook)
"Irving H. Picard, the trustee liquidating Mr. Madoff's assets, said Wednesday that he had received three additional competing offers for the business. Last month, Mr. Picard struck a tentative deal to sell the business to Castor Pollux Securities of Boston for $15 million."

Related