BK posts
FeedPosted Apr 5th 2011 12:00PM by Joseph Lazzaro (RSS feed)
Filed under: Bank of New York (BK), Stocks to Buy
The share price of Bank of New York Mellon (BK), which I first wrote about on April 6, 2009, at a price of $28.16, pulled back during the winter, in healthy correction fashion, after pushing through $30 resistance. I still like the business model at this juncture.
Founded by Alexander Hamilton, the Bank of New York, a premier bank and wealth manager, has a stock that's likely to reward patient investors. The bank's 2011 revenue should rise 10% to 15%, then about 8% to 10% in 2012, on higher fees and improving margins. Asset management fees in its equities and fixed income business should record solid increases, on price gains in those markets and due to increased client deposits. New business wins add to the positive mix.
Continue reading Is the Bank of New York Undervalued?
Posted Feb 4th 2011 5:00PM by Joseph Lazzaro (RSS feed)
Filed under: Bank of New York (BK), Stocks to Buy
The Bank of New York Mellon (BK), which I first wrote about on April 6, 2009, at a price of $28.16, has pushed through $30 resistance, and the business model is obviously still favored in this neck of the woods. Here's why:
Founded by Alexander Hamilton, the Bank of New York, a premier bank and wealth manager, is a good stock to be patient with. BK's 2011 revenue will likely rise 8% to 10%, then about 7% to 9% in 2012, on higher fees and improving margins. Asset management fees in its equities and fixed income business should record solid increases, on price gains in those markets and due to increased client deposits. New business wins add to the positive mix.
Continue reading Is the Bank of New York's Stock Headed to $40 and Beyond?
Posted Dec 23rd 2010 1:30PM by Sheldon Liber (RSS feed)
Filed under: International Markets, Forecasts, Other Issues, General Electric (GE), Walgreen Co (WAG), Citigroup Inc. (C), JPMorgan Chase (JPM), Novartis AG ADS (NVS), Bank of America (BAC), Bank of New York (BK), CVS Corp (CVS), Goldman Sachs Group (GS), Teva Pharm Indus ADR (TEVA), Wells Fargo (WFC), Bargain Stocks, Chasing Value™, Travelers Companies Inc. (TRV)

To paraphrase
Mark Twain "The reports of
our death are greatly exaggerated". The world
economy has been in shambles for a few years now, and our nation has much work ahead of it. 2010 was an improvement over 2009 and I believe 2011 will show further improvement.
There are lots of ideas running through my mind as I consider where the economy might be heading in 2011. What opportunities lay in front of us waiting to be picked up or passed over? Just five trading days left, and market activity will slow down except among fund managers making adjustments for tax purposes or window dressing. You should examine your tax situation, too.
Continue reading Chasing Value: Pre-Christmas Quick Takes
Posted Dec 22nd 2010 11:30AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Bank of New York (BK), Analyst Initiations, KKR Financial (KFN), American Eagle Outfitters (AEO)
Analyst Upgrades
- SuperValu (SVU) to buy from hold at Hapoalim.
- Constellation Energy (CEG) to buy from hold at Citigroup.
- Doral Financial (DRL) to neutral from sell and ABB (ABB) to buy from neutral at Sterne Agee.
Analyst Downgrades
- American Eagle (AEO) to neutral from buy at SunTrust.
- Tenet Healthcare (THC) to market perform from outperform at Wells Fargo.
Continue reading Analyst Calls: AEO, BK, HTGC, KFN, PLD, STT, SVU, THC, VPHM ...
Posted Oct 7th 2010 11:40AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Citigroup Inc. (C), JPMorgan Chase (JPM), Agilent Technologies (A), Bank of America (BAC), Bank of New York (BK), Costco Wholesale (COST), Goldman Sachs Group (GS), Morgan Stanley (MS), Analyst Initiations, salesforce.com inc (CRM)
Analyst Upgrades
- Piper Jaffray upgraded Salesforce.com (CRM) to overweight from neutral, citing valuation following the recent sell-off and strong business trends. The firm has a $115 price target for shares.
- Keefe Bruyette upgraded M&T Bank (MTB) to market perform from underperform on valuation after AIB sold its stake in the company. The firm has a $72 price target for shares.
- Jefferies upgraded OGE Energy (OGE) to buy from hold following the announcement that ArcLight will purchase 9.9% of OGE's interest in Enogex for $183M and believes this deal highlights the hidden value associated with Enogex. The firm raised its price target to $51.50 from $43.
- Thomas & Betts (TNB) was upgraded to outperform from perform at Oppenheimer.
- Bayer (BAYRY) was upgraded to buy from neutral at UBS.
- Texas Roadhouse (TXRH) was upgraded to outperform from neutral at Baird.
Continue reading Analyst Calls: A, ARST, BAC, C, COST, CRM, DPS, GS, JPM, MS, MTB, VOD ...
Posted May 25th 2010 11:00AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Bank of New York (BK), News Corp'B' (NWS), Barrick Gold (ABX), Newmont Mining (NEM), Analyst Initiations, EMC Corp (EMC), General Dynamics Corp (GD)
Analyst Upgrades
- Deutsche Bank upgraded Barrick Gold (ABX) to buy from hold and reiterates a buy rating on Newmont Mining (NEM) after upping its 2011 gold forecast to $1,450 per ounce and 2012 forecast to $1,600 per ounce. The firm upped its target for Barrick shares to $53 from $45, for Newmont shares to $74 from $72, and on hold-rated Goldcorp (GG) and Kinross Gold (KGC) to $40 and $20, respectively.
- Citigroup upgraded General Dynamics (GD) to hold from sell following the recent pullback in shares. The firm keeps a $67 price target for the stock.
- UBS upgraded Public Service (PEG) to buy from neutral and has a $34 price target on the stock. The firm cites the company's solid balance sheet, earnings profile, and valuation for the upgrade.
- News Corp. (NWS) was upgraded to buy from hold at Soleil.
- AK Steel (AKS) was upgraded to neutral from underperform.
- Progress Energy (PGN) was upgraded to buy from neutral at BofA/Merrill.
- PNC Financial (PNC) was upgraded to outperform from market perform at Keefe Bruyette.
Continue reading Analyst Calls: ABX, AKS, BK, GBDC, GD, NEM, NWS, ODSY, PNC, UQM ...
Posted Jan 17th 2010 12:30PM by Trey Thoelcke (RSS feed)
Filed under: Earnings Reports, Forecasts, Citigroup Inc. (C), American Express (AXP), Bank of America (BAC), Bank of New York (BK), BB and T (BBT), Comerica Inc (CMA), Goldman Sachs Group (GS), Morgan Stanley (MS), Wells Fargo (WFC), SLM Corp (SLM), U.S. Bancorp (USB)
Last week, JPMorgan Chase & Co. (JPM) led off the coming parade of earnings from the big banks when it reported better-than-expected fourth-quarter and full-year earnings, though its revenue fell short of estimates.
Plenty more earnings from the financial sector are due out this week. Analysts surveyed by Thomson Reuters anticipate fourth-quarter earnings growth from American Express Co. (AXP), Bank of New York Mellon Corp. (BK), Hudson City Bancorp Inc. (HCBK), SLM Corp. (SLM) and US Bancorp (USB).
Continue reading The Week in Preview: Q4 Earnings Expectations for the Financial Sector
Posted Oct 24th 2009 2:20PM by Trey Thoelcke (RSS feed)
Filed under: Earnings Reports, Apple Inc (AAPL), Amazon.com (AMZN), McDonald's (MCD), 3M Corporation (MMM), Caterpillar (CAT), New York Times'A' (NYT), Bank of New York (BK), Hershey Co (HSY), Gannett Co (GCI), Morgan Stanley (MS), Kimberly-Clark (KMB), United Parcel'B' (UPS), Lockheed Martin (LMT), Broadcom Corp'A' (BRCM), SLM Corp (SLM)
Continue reading Earnings highlights: Amazon, Apple, Caterpillar, Hershey, McDonald's, UPS ...
Posted Jul 25th 2009 10:10AM by Trey Thoelcke (RSS feed)
Filed under: Earnings Reports, Microsoft (MSFT), Yahoo! (YHOO), Apple Inc (AAPL), Advanced Micro Dev (AMD), American Express (AXP), Bank of New York (BK), Intuitive Surgical Inc (ISRG)
Continue reading Earnings highlights: Apple, Microsoft, Yahoo!, Bank of New York, Capital One ...
Posted Jul 22nd 2009 1:00PM by Brent Archer (RSS feed)
Filed under: Major Movement, Earnings Reports, Bad News, Bank of New York (BK), Options, Technical Analysis
Bank of New York Mellon (NYSE:
BK -
option chain) stock is lower today after
the company reported a second-quarter profit this morning of $176 million, or 15 cents per share. Excluding one-time items, BK earned 23 cents per share, missing analysts' estimates of 53 cents per share. BK also announced its quarterly dividend of 0.09 per share down 62% from the previous 0.24. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on BK.
This morning, BK opened at $27.55. So far today the stock has hit a low of $26.48 and a high of $27.67. As of 11:40, BK is trading at $26.89, down $2.22 (-7.6%). The chart for BK looks bullish and
S&P gives BK a positive 4 STARS (out of 5) buy ranking.
Continue reading Bank of New York Mellon (BK) reports weak Q2 earnings, slashes dividend
Posted Jun 30th 2009 12:30PM by Elizabeth Harrow (RSS feed)
Filed under: Analyst Reports, Bank of New York (BK), NASDAQ
The Bank of New York Mellon Corp. (NYSE: BK) has become a minority equity investor in International Derivatives Clearing Group (IDCG), the derivatives clearing unit that's a subsidiary of Nasdaq OMX Group (NASDAQ: NDAQ). Financial terms of the deal were not disclosed, nor was the size of the stake -- but it's definitely a symbiotic pact. IDCG will use securities servicing products provided by the bank, and Bank of New York Mellon's chief executive of broker-dealer services, Art Certosimo, will join IDCG's board.
"This strategic partnership with Nasdaq OMX provides our buy side and sell side clients with a flexible platform that meets their derivatives trading, clearing and servicing needs," stated Bank of New York Mellon President Gerald Hassell. Bob Greifeld, CEO of Nasdaq OMX, added that the partnership "lends support to President Obama's proposed reforms of the [over-the-counter] derivatives market."
Continue reading Bank of New York Mellon invests in Nasdaq derivatives unit
Posted May 20th 2009 9:40AM by Jim Cramer (RSS feed)
Filed under: Hewlett-Packard (HPQ), Ford Motor (F), Market Matters, Bank of America (BAC), Bank of New York (BK), Wells Fargo (WFC), Cramer on BloggingStocks, Financial Crisis
TheStreet.com's Jim Cramer says this deal is hugely important -- today is the last stand for the bears. Today is make or break for the short-sellers, the SKFers, the bears on banks. I cannot stress how important the
Bank of America (NYSE:
BAC) (
Cramer's Take) deal is. The syndicate desk placed this stock with great hands, restricting flippers to one-fifth of their orders and giving mutual funds only about a quarter of what they wanted. Plus, given the stealth selling that BAC did ahead of this, the company seems done for now -- maybe forever -- although it can't give back TARP funds. However, it should be able to do bond financing that will put it in a good position to do so. And with the velocity of sales picking up at the same time as the new housing starts go down -- stunning figures there -- it is possible that we could see a reversal of some of Bank of America's soured loans while we see what happens with a big lender begins to get a major share of what can be a lucrative mortgage market. We might look back at BAC at $10 and say, "That was our last good chance to buy it," as there are many, many analysts set to reiterate their buys this morning.
Continue reading Cramer on BloggingStocks: Bank of America is now the fulcrum
Next Page >