The Pittsburgh Pirates may not be putting much on the field these days, but Pittsburgh-based PNC Financial Services Inc. (NYSE: PNC) has jockeyed itself into a lead position in the financial recovery.

Since hitting its lows in March, at just below $20, PNC is up around 150% at its current price of near $50. I think that the stock will continue to lead the financials higher as its strong balance sheet and diversified revenue fuel a considerable rally.

Continue reading World Series trade #4: PNC Financial Services (PNC)

World Series trade #4: PNC Financial Services (PNC) originally appeared on BloggingStocks on Sun, 01 Nov 2009 09:00:00 EST. Please see our terms for use of feeds.

Baseball fans worldwide continue to warm themselves around the glow of the television to watch the Phillies and Yankees battle it out in the World Series.

Well, sports fans, I know you're psyched, but I have something just as exciting for you: six home run trades.

Peter Lynch had his "take a walk down Main Street" style of investing, so let's call this the "take me out to the ball game" approach to trading. I'm going to give you six trades that I think will knock it out of the park.

Continue reading Six home run World Series trades

Six home run World Series trades originally appeared on BloggingStocks on Sat, 31 Oct 2009 09:00:00 EST. Please see our terms for use of feeds.

PNC Financial Services (NYSE: PNC) reported this morning it raised more than $600 million through an at-the-market offering of 15 million shares launched May 14.

Additionally, PNC said it has no plans to convert its preferred shares, and it expects to redeem the U.S. Treasury's $7.6-billion investment in its preferred shares "as soon as appropriate."

Continue reading PNC Financial raises $600 million in capital; investors yawn

PNC Financial raises $600 million in capital; investors yawn originally appeared on BloggingStocks on Wed, 27 May 2009 10:40:00 EST. Please see our terms for use of feeds.

JP Morgan (NYSE: JPM) is recently trading at $20.56 in pre-open trading, above its close of $19.51. JPM reduced its quarterly dividend to 5c and provided an inline Q1 update. JPM March 20 straddle is priced at $5.55, June 20 straddle is priced at $9.55. JPM March option implied volatility of 123 is above its 26-week average of 89, according to Track Data, suggesting large price movement.

PNC Financial Services (NYSE: PNC) Financial Services closed at $24.61. PNC March option implied volatility is at 137; June is at 108; above its 26-week average of 77, according to Track Data, suggesting larger near term price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Options Update: JP Morgan options expensive into dividend reduction originally appeared on BloggingStocks on Tue, 24 Feb 2009 09:00:00 EST. Please see our terms for use of feeds.

National City (NYSE: NCC) closed at $3.10. NCC is scheduled to report Q3 EPS on October 21. NCC November 3 straddle is priced at $1.55 according to Track Data, suggesting large price fluctuations.

Citigroup (NYSE: C) closed at $18.62. Citi is scheduled to report EPS on October 16. Citi October 20 straddle is priced at $1.43, November 20 straddle is priced at $4.74, and Citi November option implied volatility of 98 is above its 26-week average of 54 according to Track Data, suggesting larger price movement.

PNC Financial Services (NYSE: PNC) closed at $63.04. PNC is expected to report EPS on October 16. PNC October 62.5 straddle is priced at $6.80, November 62.5 straddle is priced at $13.70. PNC November option implied volatility of 79 is above its 26-week average of 45 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: Bank volatility elevated into EPS & outlooks originally appeared on BloggingStocks on Wed, 15 Oct 2008 11:40:00 EST. Please see our terms for use of feeds.

SunTrust Banks (NYSE: STI) closed at $43.97 Thursday. STI July option implied volatility of 64 is above its 26-week average of 41 according to Track Data, suggesting larger price uncertainty.

PNC Financial Services (NYSE: PNC) closed at $59.73 Thursday. PNC July option implied volatility of 41 is above its 26-week average of 35, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: SunTrust Banks and PNC Financial Services volatility up originally appeared on BloggingStocks on Fri, 13 Jun 2008 10:22:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Deutsche Bank initiated shares of McDonald's Corporation (NYSE: MCD) and Yum! Brands Inc (NYSE: YUM) with Buy ratings and a $61 target and $76 target, respectively, and shares of Panera Bread Company (NASDAQ: PNRA) and Chipotle Mexican Grill Inc (NYSE: CMG) with Hold ratings an a $54 target and $83 target, respectively.
• Wachovia initiated shares of CB Richard Ellis with an Outperform rating, as it views CBG as a compelling investment opportunity giving its leading position in the top real estate markets and breadth of services.
• Wachovia also initiated shares of Jones Lang LaSalle with an Outperform rating, as it expects JLL to benefit from international services given the increasing flow of real estate dollars across boarders and to less well developed regions of the globe.

• Citigroup initiated shares of GameStop Corp (NYSE: GME) with a Buy rating and $46 target.
• Citigroup also initiated shares of The PNC Financial Services Group Inc (NYSE: PNC) with a Buy rating and $84 target.
• Soleil initiated shares of Salesforce.com Inc (NYSE: CRM) with a Buy rating and $50 target.
• Goldman Sachs initiated shares of 3M Company (NYSE: MMM) and LM Ericsson Telephone Company (NASDAQ: ERIC) with Neutral ratings.

Analyst initiations 6-08-07: Restaurants, CBG and JLL originally appeared on BloggingStocks on Fri, 08 Jun 2007 10:36:00 EST. Please see our terms for use of feeds.