Yesterday when the Philly Fed number disappointed and the 10-year note yields moved down and the S&P took off to the upside, the 9:00 buy program showed us exactly what was going on. When we see buy programs on the half hour it usually means that mutual funds have stock to buy. The buying is executed electronically, buying baskets of stock on the half hour. When the big buy program hit at 9:00 and another buy program at 9:30 and 10:00 we knew there was a larger agenda and we pointed it out right away. After rallying, the ESZ stalled and eventually sold off a few handles and then immediately bounced into new highs. The Pit Bull says when it goes slow and the ESZ13 trades in a narrow range or what we call chop, it is actually the buyers accumulating futures. It's really hard to fight a tape when it's like that. Right now the S&P is still going up, but we do think that it may be nearing a threshold at the 1800 to 1850 level. Most traders we talk to think the S&P will correct in the first quarter and that a taper could come either at the end of December or going into the first Fed meeting in January. As always, use stops and keep an eye on the 10-handle rule. Don't forget to catch MrTopStep on The Closing Print video found under the OptionsTV page (top bar). We report directly from the SPX pits, wrapping up the day and positioning for trade tomorrow. OptionsProfits can be followed on Twitter at twitter.com/OptionsProfits MrTopStep can be followed on Twitter at twitter.com/MrTopStep For LIVE futures chat, more information on the 10-handle rule and futures educational content CLICK HERE FOR A SEVEN-DAY FREE TRIAL.
Hot Healthcare Equipment Companies To Invest In Right Now: OSI Systems Inc.(OSIS)
OSI Systems, Inc., together with its subsidiaries, designs and manufactures electronic systems and components for homeland security, healthcare, defense, and aerospace markets worldwide. The company operates in three divisions: Security, Healthcare, and Optoelectronics and Manufacturing. The Security division provides security and inspection systems under the Rapiscan Systems name. Its products include baggage and parcel inspection, cargo and vehicle inspection, hold baggage screening, and people screening products to search for weapons, explosives, drugs, and other contraband, as well as for the verification of cargo manifests for monitoring the export and import of controlled materials. This division also offers various turn-key security screening solutions under the S2 trade name. The Healthcare division provides patient monitoring, diagnostic cardiology, and anesthesia delivery and ventilation systems under the Spacelabs name that are used in critical care, emergency, and perioperative areas within hospitals, as well as physician?s offices, medical clinics, and ambulatory surgery centers. The Optoelectronics and Manufacturing division offers optoelectronic devices for the aerospace and defense, avionics, medical imaging and diagnostic, renewable energy, biochemistry analysis, pharmaceutical, nanotechnology, telecommunications, construction, and homeland security markets under the OSI Optoelectronics name; and electronics manufacturing services to original equipment manufacturers under the OSI Electronics name. This division also provides laser-based remote sensing devices to detect and classify vehicles in toll and traffic management systems under the OSI Laserscan name; blood pressure cuffs and unifusors under the Statcorp Medical name; and solid-state laser products for aerospace, defense, telecommunication, and medical applications under the OSI LaserDiode trade name. The company was founded in 1987 and is headquartered in Hawthorne, California.
Advisors' Opinion:- [By Travis Hoium]
What: Shares of electronics systems designer OSI Systems (NASDAQ: OSIS ) jumped as much as 21% in afternoon trading after reaching a settlement with the government.
- [By John Udovich]
Small cap security and surveillance stocks OSI Systems, Inc (NASDAQ: OSIS), Vimicro International Corporation (NASDAQ: VIMC), Analogic Corporation (NASDAQ: ALOG), Lifelock Inc (NYSE: LOCK) and View Systems Inc (OTCBB: VSYM) have been producing a steady flow of news lately that investors might want to take a closer look at. After all, the whole security and surveillance industry is pretty vast as it would include everything from airport scanners to security cameras to software securing everyone�� personal or online data. With that in mind, here is a look at the latest news from important small cap security and surveillance stocks:
- [By Stephen Quickel]
We are also adding two previously successful technology picks: Skyworks Solutions (SWKS), a supplier of analog and mixed signal semiconductors, and OSI Systems (OSIS), a specialist in mission-critical electronic systems and components.
- [By James E. Brumley]
For tech-savvy investors who know which companies make them, when they hear the words "weapons detection" or "body scanners", they tend to think of companies like American Science & Engineering, Inc. (NASDAQ:ASEI) and OSI Systems, Inc. (NASDAQ:OSIS). And well they should. OSIS and ASEI are two of the biggest North American providers of the kind of equipment you might see being used by airport security personnel screening passengers before allowing them to their gate. There's just one challenge in the average school system tapping OSI Systems or American Science & Engineering to help defend their school grounds.... their hardware starts with a six-figure price tag, and rapidly works its way up to higher-capacity and more powerful versions. For a school with multiple doors, it's simply not feasible. View Systems Inc. is a viable alternative.
Hot Healthcare Equipment Companies To Invest In Right Now: Gartner Inc (IT)
Gartner, Inc. (Gartner), incorporated on June 1, 1990, is an information technology (IT) research and advisory company. The Company operates in three business segments: Research, Consulting and Events.
Research provides objective insight on critical and timely technology and supply chain initiatives for chief information officers (CIO), other IT professionals, supply chain leaders, technology companies and the investment community through reports, briefings, tools, access to its analysts, peer networking services and membership programs that enables its clients to make better decisions about their IT and supply chain investments. Consulting provides customized solutions to client needs through on-site, day-to-day support, as well as tools for measuring and improving IT performance with a focus on cost, performance, efficiency, and quality. Events provide IT, supply chain and business professionals the opportunity to attend various symposia, conferences and exhibitions to learn, contribute and network with their peers.
Research
Gartner delivers independent, objective IT research and insight primarily through a subscription-based, digital media service. Gartner Research is the fundamental building block for all Gartner services and covers all technology-related markets, topics and industries, as well as supply chain topics. The Company combines its research methodologies with industry and academic relationships to create Gartner solutions that address each role within an IT organization.
The Company�� research agenda is defined by clients��needs, focusing on the critical issues, opportunities and challenges they face every day. Research analysts provide in-depth analysis on all aspects of technology, including hardware; software and systems; services; IT management; market data and forecasts; and vertical-industry issues. The Company�� research content is presented in the form of reports, briefings, updates and related tools, is delivered direc! tly to the client�� desktop via its Website and/or product-specific portals.
Consulting
Gartner Consulting deepens relationships with its research clients by extending the reach of its research through custom consulting engagements. Gartner Consulting brings together its research insight, benchmarking data, problem-solving methodologies and hands-on experience to improve the return on a client�� IT investment. Consulting solutions capitalize on Gartner assets that are invaluable to IT decision making, including: its research, which ensures that its consulting analyses and advice are based on a deep understanding of the IT environment and the business of IT; its market independence, which keeps its consultants focused on its client�� success.
Gartner Consulting provides solutions to CIOs and other IT executives, and to those professionals responsible for IT applications, enterprise architecture, go-to-market strategies, infrastructure and operations, programs and portfolio management, and sourcing and vendor relationships. Consulting also provides targeted consulting services to professionals in specific industries. Finally, the Company provides actionable solutions for IT cost optimization, technology modernization and IT sourcing optimization initiatives.
Events
Gartner Symposium/ITxpo events and Gartner Summit events are gatherings of technology�� senior IT professionals, business strategists and practitioners. Gartner Events offers relevant and actionable technology sessions led by Gartner analysts to clients and non-clients. These sessions are augmented with technology showcases, peer exchanges, analyst one-on-one meetings, workshops and keynotes by technology�� top leaders. They also provide attendees with an opportunity to interact with business executives from the technology companies.
Gartner Events attract high-level IT and business professionals who seek in-depth knowledge about technology products and serv! ices. Gar! tner Symposium/ITxpo events are strategic conferences held in various locations throughout the world for CIOs and other senior IT and business professionals. Gartner Summit events focus on specific topics, technologies and industries, providing IT professionals with the insight, solutions and networking opportunities to succeed in their job role. Finally, the Company offers targeted events for CIOs and IT executives, such as CIO Leadership Forum.
Advisors' Opinion:- [By ValueArtifex]
Engaged in the Management Consulting industry, the Hackett group "provides advisory, benchmarking, and transformation consulting services, including shared services, offshoring and outsourcing advice. The Company operates in the business and technology consulting services segment." Unsurprisingly, as a firm with a focus towards outsourcing, the Hackett group serves the North American and European geographic regions in addition, "through its REL group, Hackett offers working capital solutions focused on delivering cash flow improvements. Through its enterprise resource planning solutions group (ERP Solutions), Hackett offers business application consulting services that help maximize returns on information technology (IT) investments." Quoted material is courtesy of Google Finance.
Hot India Companies To Buy Right Now: Groundstar Resources Ltd (GSA)
Groundstar Resources Limited (Groundstar) is a development-stage oil and gas company. The Company is engaged in exploration, development and production opportunities in international areas of interest. Through its subsidiaries, the Company�� primary operations are related to its interests in a production sharing contract in Kurdistan (Iraq), concession agreements in Egypt and a petroleum prospecting license in Guyana. Advisors' Opinion:- [By Damian Illia]
The company�� revenues come from the fees charged for operating different domain names. Most domain names��fees are charged as per agreement terms with ICANN; however, fees received for operating the .gov registry are based on the terms of agreement with the U.S. General Services Administration (GSA). As of September 2013, revenues of $125.9 million came from active domain names ending with .com and .net. Even though the company has presence all over the globe, the U.S. contributes 64.8% of revenues, while Europe, the Middle East and Africa (EMEA) contribute 15.5%, Australia, China, India and other Asia Pacific countries (APAC), 15.0%, and other countries such as Canada or Latin American countries, contribute 4.7%. Competition is increasing, especially with Latin script ccTLD registries and IDN ccTLD registries, as well as with other name service providers such as Neustar Inc. (NSR) or ARI Registry Services, and search engine providers such as Google Inc. (GOOG) Microsoft, Corp. (MSFT).
Hot Healthcare Equipment Companies To Invest In Right Now: Sify Technologies Limited(SIFY)
Sify Technologies Limited provides enterprise and consumer Internet services primarily in India. The company offers various corporate network/data services comprising e-commerce and network connectivity solutions, such as end-to-end services network, application, and security services; voice origination and termination services; co-location and managed hosting services; and system integration services for data centre build, hardware distribution, security solutions, and turnkey projects. It also provides application services, including SLEMS and Microsoft Exchange messaging platforms; I-test for online assessment and LiveWire, which enable management of training processes across the organization; document management system for the management of documents electronically; and Forum, a forward supply chain solution. In addition, the company operates e-Ports that offer browsing, chat, email, gaming, utility bill payment, travel ticketing, hotel booking, mobile recharge, Intern et telephony, and online share trading services; and portals, which provide news, views, reviews, interactions, and services in the areas of movies, sports, finance, food, videos, astrology, online games, shopping, and travel, as well as offers content offerings and broadband services. Further, it provides infrastructure management services, such as network management, datacenter and helpdesk outsourcing, desktop and storage outsourcing, IT security outsourcing, LAN and WAN outsourcing, database and telecom outsourcing, and application monitoring and management services to automotive, chemical, media, and financial enterprises; and virtualization design, integration, and deployment services for servers, storage, networks, and end user clients. Sify has approximately 1,278 e-Ports in 200 towns and cities; and serves 1,06,000 broadband subscribers through 1500 cable TV Operators. The company, formerly known as Sify Limited, was founded in 1995 and is based in Chennai, India. Advisors' Opinion:
- [By Jake L'Ecuyer]
Leading and Lagging Sectors
Technology stocks gained Tuesday, with Ku6 Media Co (NASDAQ: KUTV) leading advancers. Among leading tech stocks, gains came from Rubicon Technology (NASDAQ: RBCN), Bitauto Holdings (NYSE: BITA) and Sify Technologies (NASDAQ: SIFY). Utilities shares dropped by 0.11 percent in the US market today. - [By Jake L'Ecuyer]
Leading and Lagging Sectors
Technology stocks gained Tuesday, with Ku6 Media Co (NASDAQ: KUTV) leading advancers. Among leading tech stocks, gains came from Rubicon Technology (NASDAQ: RBCN), Bitauto Holdings (NYSE: BITA) and Sify Technologies (NASDAQ: SIFY).
Hot Healthcare Equipment Companies To Invest In Right Now: Aristocrat Group Corp (ASCC)
ARISTOCRAT GROUP CORP. (AGC), incorporated on July 20, 2011, is a development-stage company. The Company has limited business operations. The development of its business has been limited to organizational matters, the preparation of its business plan, and the preparation of the financial statements and other information. Through Prenatal-Postpartum Supercare Centers, the Company is focused on to provide education services, health and fitness services, and emotional well-being spa services with the ability to purchase products designed especially for women who are in any phase of the childbearing process from planning a family through the newborn�� first year of life. As of July 25, 2011, the Company had not generated revenue.
The Company focused to engage certified childbirth educators and lactation consultants to provide on-site instructional services and educational expertise. Yoga Masters, licensed professional masseuses, nutritionists, licensed estheticians, as well as licensed professional therapists and certified fitness instructors will be engaged to provide their specific services. The Company is focused to offer a variety of educational and fitness and spa services with varying fees. The Company is focused to sell products designed for the expecting or new mother, as well as infant/toddler items. These products are focused to be sold through the Prenatal-Postpartum Supercare Center and on its Website, including maternity and infant products, nutritional, health and beauty products, and items regarding fitness and physical and emotional well-being. The Website focused to offer Education, Ask An Expert and On-line Communities (Chat Rooms)
The Company competes with R��Us, Toys R��Us, Wal-Mart, Curves for Women and Shapes for Women.
Advisors' Opinion:- [By CRWE]
Today, ASCC surged (+11.11%) up +0.060 at $.600 with 83,411 shares in play thus far (ref. google finance Delayed: 12:23PM EDT June 27, 2013).
As part of the big promotional push planned for the upcoming release of RWB Ultra-Premium Handcrafted Vodka, Luxuria Brands��he brand management division of the Aristocrat Group Corp. is investigating high-profile sponsorship opportunities in professional sports.
The company is gearing up to compete in the $21 billion U.S. spirits industry, in which many top brands grow their consumer loyalty with sports sponsorships.
Hot Healthcare Equipment Companies To Invest In Right Now: Cecil Bancorp Inc (CECB)
Cecil Bancorp, Inc. is the holding company for Cecil Bank (the Bank). The Bank is a Maryland chartered commercial bank, is a member of the Federal Reserve System and the Federal Home Loan Bank (FHLB) of Atlanta, and is an Equal Housing Lender. Its deposits are insured by the Deposit Insurance Fund (DIF) of the Federal Deposit Insurance Corporation (FDIC). The Bank conducts its business through its main office in Elkton, Maryland, and branches in Elkton, North East, Fair Hill, Rising Sun, Cecilton, Aberdeen, Conowingo and Havre de Grace, Maryland. On August 16, 2013, Cecil Bank completed the sale of its Aberdeen, Maryland branch office to Howard Bank, a wholly owned subsidiary of Howard Bancorp, Inc.
Lending Activities
The Bank offers mortgage loans on one-to four-family residential dwellings. Most of the loans are originated in amounts up to $350,000, on single-family properties located in the Bank�� primary market area. The Bank�� mortgage loan originations are generally for terms of 15, 20 and 30 years, amortized on a monthly basis with interest and principal due each month. The Bank offers adjustable-rate mortgage loans with terms of up to 30 years. The Bank also originates conventional fixed-rate mortgages with terms of 15, 20, 30 or 40 years. During the year ended December 31, 2011, the Bank originated $2,145,000 in adjustable-rate mortgage loans and $7,157,000 in fixed-rate mortgage loans. The Bank also offers second mortgage loans. These loans are secured by a junior lien on residential real estate. The total of first and second liens may not exceed a 90% loan to value ratio.
The Bank�� construction lending has primarily involved lending for construction of single-family residences, although the Bank does lend funds for the construction of commercial properties and multi-family real estate. Land loans granted to individuals have a term of up to 10 years and interest rates adjust every one, three or five years. Land loans granted to developers have te! rms of up to three years. The Bank originates loans on multi-family residential and commercial properties in its market area. The Bank�� permanent multi-family and commercial real estate loans are typically secured by retail or wholesale establishments, motels/hotels, service industries and industrial or warehouse facilities. Multi-family and commercial real estate loans generally have terms of 20 to 40 years, are either tied to the prime rate or have interest rate adjustments every one, three or five years.
The Bank offers commercial business loans and both secured and unsecured loans and letters of credit, or lines of credit for businesses located in its primary market area. The business loans have a one year term, while lines of credit can remain open for longer periods. The Bank�� consumer loans consist of automobile loans, deposit account loans, home improvement loans, and other consumer loans. Consumer loans are generally offered for terms of up to five years at fixed interest rates.
Investment Activities
The Bank maintains a portfolio of mortgage-backed securities in the form of Government National Mortgage Association (GNMA) and Federal Home Loan Mortgage Corporation (FHLMC) participation certificates. GNMA certificates are guaranteed as to principal and interest by the United States, while FHLMC certificates are guaranteed by the agency.
Sources of Funds
Deposits are attracted principally from the Bank�� market area through the offering of a range of deposit instruments, including savings accounts and certificates of deposit ranging in term from 91 days to 60 months, as well as regular checking, negotiable order of withdrawal (NOW), passbook and money market deposit accounts. Deposit account terms vary, principally on the basis of the minimum balance required; the time periods the funds must remain on deposit, and the interest rate. The Bank also offers individual retirement accounts (IRAs). Deposits have been the primary so! urce of f! unds for the Bank�� lending and investment activities and for its general business activities. The Bank is authorized, however, to use advances from the FHLB of Atlanta to supplement its supply of lendable funds and to meet deposit withdrawal requirements.
Advisors' Opinion:- [By CRWE]
Today, CECB remains (0.00%) +0.000 at $.410 thus far (ref. google finance Delayed: 1:10PM EDT August 30, 2013).
Howard Bancorp, Inc. and Cecil Bancorp, Inc. jointly previously reported their respective banking subsidiaries, Howard Bank and Cecil Bank, have completed the sale of Cecil Bank�� branch located at 3 West Bel Air Ave., Aberdeen, MD 21001 to Howard Bank pursuant to a purchase and assumption they entered into in March 2013.
Pursuant to the sale, Howard Bank has acquired $37.1 million in loans and $35.2 million in deposits from Cecil Bank.
Hot Healthcare Equipment Companies To Invest In Right Now: NK Lukoil OAO (LKOH)
NK Lukoil OAO (Neftyanaya Kompaniya LUKOIL OAO or NK LUKOIL OJSC) is a Russia-based integrated oil and gas company. The Company is engaged in the business of oil exploration, production, refining, marketing and distribution. It is an owner of refineries, gas processing, petrochemical plants and gas stations network located in Russia, Eastern and Western Europe, as well as Africa. The Company�� petroleum products are sold in the Russian Federation, the Commonwealth of Independent States (CIS) countries, Eastern and Western Europe, Asia and the United States. NK Lukoil OAO operates through numerous subsidiaries and affiliated companies. In April 2013, the Company acquired a 100% of Samara-Nafta ZAO and completed acquisition of CJSC Kama-Oil. In June 2013, it sold a 99.57% stake in Lukoil Odes'kyi NPZ PAT. The Company�� major shareholder is NKO ZAO NRD with a stake of 91.60%. In December 2013, it consolidated a 100% stake in ISAB Srl. Advisors' Opinion:- [By Julia Leite]
Brazil�� Ibovespa (IBOV) fell to a six-week low, while the real slid to its weakest level in four years, spurring central bank intervention. Housing Development Finance Corp. drove India�� S&P BSE Sensex down, while the rupee completed its worst month in a year. OAO Lukoil (LKOH), Russia�� second-largest oil producer, slipped 2.3 percent as crude slumped.
- [By Maria Levitov]
Russia�� Micex Index extended a five-day drop to 3.4 percent, led by OAO Lukoil (LKOH) and OAO Gazprom. Ukraine�� dollar-denominated bonds gained, sending yields to the lowest this week, as President Viktor Yanukovych announced possible investments from China. The PX Index slid to a seven-week low in Prague as Vienna Insurance Group AG plunged 4.2 percent.
Hot Healthcare Equipment Companies To Invest In Right Now: Communications Systems Inc.(JCS)
Communications Systems, Inc., together with its subsidiaries, manufactures and sells modular connecting and wiring devices, digital subscriber line filters, structured wiring systems, and media and rate conversion products primarily in North America, Europe, the Middle East, and Africa. The company?s Suttle segment manufactures and markets copper and fiber connectivity systems, enclosure systems, XDSL filters and splitters, and active technologies for voice, data, and video communications under the Suttle brand name; and residential structured wiring products under the SOHO Access brand name. This segment offers its products directly and through distributors to communication companies, smaller telephone companies, electrical/low voltage contractors, home builders, cable customers, and original equipment manufacturers. Its Transition Networks segment designs, assembles, and markets network interface devices, media converters, network interface cards, Ethernet switches, sma ll form factor pluggable modules, and other connectivity products under the Transition Networks and MILAN brand names. This segment sells its products through distributors, resellers, integrators, and original equipment manufacturers. The company?s JDL Technologies segment offers information technology (IT) solutions, including network design and integration IT service management, network security, desktop virtualization, and managed network operation center services. This segment serves educational clients, IT value added resellers, and managed service providers, as well as healthcare, enterprise, and government markets. Its Austin Taylor segment provides telephony and data networking products to telecommunications companies, distributors, and installers. This segment designs and manufactures external metal cabinets and internal metal boxes to industry standards and to customer specifications. The company was founded in 1969 and is headquartered in Minnetonka, Minnesota. Advisors' Opinion:
- [By Victor Selva]
On Dec.24, Mario Gabelli, the Chairman and Chief Executive Officer of GAMCO Investors, Inc. added Communications Systems Inc. (JCS) at an average price of $11.05 and currently holds 330,172 shares of the stock. It was the 5th time he added the stock during this year, which makes me feel that he is betting in favor of a positive future for the consumption of network capacity.
Recommendations of the Board
Communications Systems is engaged in the manufacture and sale of modular connecting and wiring devices for voice and data communications, digital subscriber line filters, and structured wiring systems, and through its Transition Networks business unit in the manufacture of media and rate conversion products for telecommunications networks.
Few months ago the firm announced�a series of actions to increase revenues and improve profitability. The first change was to operate as a holding company, monitoring and supporting all the business units: Suttle, Transition Networks (TN) unit and JDL Technologies. With this ��ew format�� each unit will operate with a high degree of autonomy. This will result in the reduction of labor costs, the emphasizing of accountability in the units as well as better recognition of performance. "While difficult decisions for the Board, we believe the changes we have taken to restructure our parent company as a holding company and to focus on individual business unit performance is in the best interest of our shareholders and will increase shareholder value" said Curtis A. Sampson, the Company's Board Chair and Interim CEO. Furthermore, strategic investments in the TN unit such as marketing, sales and product development will boost revenues in the future.
Severe Warning Signs
Not all are good news, we found three severe warning signs issued by GuruFocus: Piotroski F-Score of 2 is low, which usually implies poor business operation; revenue has been in decline over the past 3 years and operating margin has been in 5-year
Hot Healthcare Equipment Companies To Invest In Right Now: Deutsche Bank AG(DB)
Deutsche Bank Aktiengesellschaft provides investment, financial, and related products and services. The company?s Corporate and Investment Bank division engages in the origination, sale, structuring, and trading of bonds, equities and equity-linked products, exchange-traded and over-the-counter derivatives, foreign exchange, money market instruments, securitized instruments, and commodities to sovereign countries and multinational organizations; and medium-sized companies and multinational corporations. It also offers mergers and acquisitions advisory, corporate finance, and transaction banking, as well as trade finance, cash management, and trust and securities services for financial institutions and other companies. The company?s Private Clients and Asset Management division provides mutual funds and alternative investment products; manages real estate and infrastructure investments and private equity funds; offers advisory and portfolio management services to insurance companies; and provides investment solutions to institutional customers, high net worth individuals, and families. This division also offers a range of banking products and services, including current accounts, deposits and loans, and investment management and pension products to private and self-employed individuals, and small to medium-sized businesses. Its Corporate Investments division?s principal investment activities comprise private equity and venture capital investments, corporate real estate investments, a minority stake in Deutsche Postbank AG, credit exposures, and other non-strategic investments. As of December 31, 2010, the company operated 3,083 branches in approximately 74 countries worldwide, including 2,087 in Germany. Deutsche Bank Aktiengesellschaft was founded in 1870 and is headquartered in Frankfurt am Main, Germany.
Advisors' Opinion:- [By Teresa Rivas]
Deutsche Bank (DB) was down 4.5% at recent check, after a disappointing second-quarter report.
This morning, Deutsche said it earned to ��34 million ($443 million), o ��.32 per share, down from ��56 million in the same quarter last year.
Revenue rose 2% to ��.22 billon from ��.02 billion.
Analysts were looking for the company to earn ��.82 a share on revenue of ��.39 billion.
Legal costs were the big drag in the quarter, as Deutsche is involved in investigations into the manipulation of interbank rates and the U.S. mortgage business, among other issues. The quarter included a ��30 million charge for potential litigation and related costs, and Deutsche said it now has litigation reserves of �� billion, up from ��.4 billion at the end of the first quarter.
CFO Stefan Krause told analysts that the bank has already hit its targeted leverage ratio of 3% under European regulations put into law in June, but too many moving parts make calculating the ratio under new proposals impossible. Analysts are estimating the bank�� new leverage ratio is 2.3%.
S&P Capital IQ�� Frank Braden maintained a Buy rating on Deutsche�� American depositary shares, but lowered his earnings estimates for the year. ���e view the lower fixed income results as a product of the operating environment and not a change in the bank’s competitive position. Capital ratio improvements are tracking ahead of our expectations as the bank reported a Basel 3 capital ratio of 10.0% during the quarter.��/p>
- [By William L. Watts]
The highest echelons of the banking fraternity will be represented this year. In addition to Dimon, look for Goldman Sachs Group (GS) �CEO Lloyd Blankfein, Bank of America Corp. (BAC) �CEO Brian Moynihan, Deutsche Bank (DB) �co-CEO Anshu Jain and others.
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