Company Reports

Launch Report Credit Suisse: Clipper Ship's New Captain, New Strategy?


Upcoming new CEO signals a strategic shift away from high-capital intensive trading towards high intellectual-capital investment banking & wealth management 

Citigroup 1Q15 FI Call: Who Wants to Buy This Debt Deluge?


In its 1Q15 fixed income investor call, Citi provided a more thorough review of its capital structure and potential actions to increase its total loss absorbing capacity (TLAC), as well as solid information regarding its liquidity profile than was provided in the prior week’s 1Q15 earnings call...

Launch BNY Mellon 1Q15: FX and Servicing Revenues Lead Growth


Reported 1Q15 EPS of $0.67, blasting pass street consensus of $0.60.  Profitability was not enhanced by any 1x items, although above-trend strong earnings from FX trading due to high levels of FX volatility contributed to the beat. 

Launch Regions: 1Q Miss, Needs a New Region?


Reported 1Q15 EPS of $0.16, missing the Street consensus of $0.18.  The difference was related to an extinguishment of higher cost debt charge - redemption of $250 million ($43 million or $0.03) and a charge for office space optimization ($9 million or $0.01).

SunTrust 1Q15: Chipping Away the Costs


Reported 1Q15 EPS of $0.78, beating street consensus of $0.72.  Net income growth coming from greater operational efficiency and credit cost savings as loan portfolio continued to improve.

Launch Fifth Third 1Q15: Ho-Hum, Where is the Pizazz?


Reported 1Q15 EPS of $0.44, but $0.37 on an adjusted basis which was a penny short of street consensus of $0.38. Fifth Third fully disclosed the significant pre-tax items that led to the $0.07 difference including: 1) a positive valuation adjustment on Vantiv warrants ($70 million),...

Launch Morgan Stanley: 1Q15 Beat, 6-Point Spot On!


Reported 1Q15 EPS of $1.18, but $1.14 excluding DVA. Backing out the non-recurring net discrete tax benefit of  $0.29, adjusted EPS was 0.85 that beat street consensus of $0.77, by eight cents.

Launch Goldman Sachs: 1Q15 Soars, Private Equity Turnover Titan


Reported 1Q15 EPS of $5.94 versus Street consensus of $4.19 for a gargantuan beat of $1.75.  While we know that macro market factors contributed to this beat and that Goldman Sachs also concurs to an extent...

Citigroup 1Q15: LatAm & Asia, New Credit Checks


Reported 1Q15 EPS of $1.51, which significantly surpassed the street consensus of $1.39, as net income jumped 21% primarily from lower legal and repositioning costs.  

Launch U.S. Bancorp 1Q15: Quality Lender Waiting For More Growth


We launch on US Bancorp with a Buy on its debt, but Hold on its stock Risk & Regulatory Stack has low risk.



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