Company Reports

KeyCorp 1Q15: LeBron Back, Loans Talking Smack

04/20/2015

Reported 1Q15 EPS of $0.26, a penny short of street consensus of $0.27. Despite stronger loan growth in the mid-single digits, KeyCorp disappointed on financial advisory and loan syndication fees which could have led to the slight miss.  Key Keycorp


Launch WFC: 1Q15 Beats; Buy Bonds, Buy Stock, Maintain CRM

04/16/2015

Reported 1Q15 EPS of $1.04 which exceeded street consensus of $0.98 as a result of strong loan growth, higher trust & investment fees, credit and debit card fees, and gains on debt securities sales.  $122 million above-trend debt securities gains added about 1 cent.  Earnings of $5.8 billion compared...


Bank of America: Regional Bank Putt-Putting Along

04/16/2015

Reported 1Q15 EPS of $0.27, but $0.30 on an adjusted basis which hit the Street consensus of $0.30. Earnings of $3.4 billion compared to $3.1 billion in the linked quarter and a $276 million loss in the prior year’s quarter.


JPM: 1Q15 Rebounds, GE/GECC Reflections on JPM

04/15/2015

Reported 1Q15 EPS of $1.45, and roughly $1.45 on an adjusted basis which beat street consensus of $1.39 by six cents. Adjustments related to non-recurring/one-off items included: (1) firm-wide legal expense ($0.13 add-back), a tax benefit ($0.03 reduction). JPM


JPM 10K Takes: Derivatives Discount – What To Do?

04/13/2015

The annual GSIB 10Ks season provides a tremendous amount of information that is scattered throughout the banking companies’ massive documents that can range from 250 to 500 pdf pages. 


WFC 10K Takes: Credit Quality Good, Disclosure Could Be Better

04/10/2015

The annual GSIB 10Ks season provides a tremendous amount of information that is scattered throughout the banking companies’ massive documents that can range from 250 to 500 pdf pages.  These information nuggets when distilled to their essential oils of action-oriented views are important for risk analysts of all sorts whether credit risk managers, investment managers, regulators, or other corporate strategic users.  


Launch Report: UBS – U B What?

04/07/2015

UBS’ franchise led by wealth management with its recurring earnings power; though still in restructuring mode for other key business unit.   Confronts wide-ranging menu of litigation costs similar to other global banks in Europe & the US.


BK 10K Takes: BK Knows Its Risks

03/31/2015

The annual GSIB 10Ks season provides a tremendous amount of information that is scattered throughout the banking companies’ massive documents that can range from 250 to 500 pdf pages.  These information nuggets when distilled to their essential oils of action-oriented views are important for risk...


MS 10K Takes:  MS-agical Transformation, Loan Loci

03/23/2015

The annual GSIB 10Ks season provides a tremendous amount of information that is scattered throughout the banking companies’ massive documents that can range from 250 to 500 pdf pages.  These information nuggets when distilled to their essential oils of action-oriented views are important for risk...


Citi 10K Takes: LatAm Next Credit Crunch?

03/16/2015

The annual GSIB 10Ks season provides a tremendous amount of information that is scattered throughout the banking companies’ massive documents...While the annual reports contain a re-write of the earnings releases, instead, we will focus on the discrete but usually ambiguous key risk areas.


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