About Us | Contact Us
May 23, 2012 1:20 AM EDT
Updated: Aug 19, 2010 6:44 AM EDT  

Financials

Lindblom, Ledwith, Mayerhofer (212) 829-5482

News and Views

 Financials finished better Wednesday up 0.45% after giving back its earlier gains. The market got a nice boost mid-morning. Regional banks jumped as the Barclays takeover speculation with STI went around again. Fitch report on the large banks repurchasing troubled mortgages from Fannie and Freddie brought financials back a bit, as Fitch estimates losses of $20 to $27 bln. Financial services lagged the sector off (0.12%), credit cards and online brokers the top culprits.


Active Names

 

Big Banks  -  BAC, C, WFC, JPM, GS, MS, FITB, STT, USB, HBAN, HCBK, PBCT, FHN, RF, BBT

Mid/SmallcapBanks/S&L-  FBP, WAL, EWBC, GSBC, HMPR, IBKC, PRWT, RBPAA, WBCO,NYB,DCOM,SBIB,CVBF,GAIN,LKFN,TFSL,IBCP,BRKL

Brokers  KCG, SCHW, AMTD, ETFCD

Asset Managers/Inv co’s-  BX, FIG, GLG, GROW, JNS, LAZ, MF, LM,KFN

Insurance-  GNW, HIG, MET, ALL, TRV

CreditCards-  AXP, COF, MA, V, DFS

Specialty Finance/Mort Insurers-   ACAS, ABK, MBI, MTG, RDN


Sector News, M&A, Capital Raises

 MasterCard (MA) to acquire DataCash Group for 360p/share in cash (234p)
The purchase will be £333M ($520M) altogether. In 2009, the 362-employee payment service provider posted revenue of £36.9M and an EBITDA margin of 46%. MasterCard expects the purchase of DataCash to be approximately $0.05 dilutive to its Q4 EPS due to amortization and one-time transaction costs. MasterCard expects the transaction to be breakeven with respect to EPS for 2011 and accretive in 2012. The transaction is expected to close by the end of October. Conference call: 09:00 ET, 866-831-6224 (US) and +1-617-213-8853 (international), passcode 39132639.


Research Away

 

FCNCA FBR Capital Markets Reiterates First Citizens Bancshares Inc. (FCNCA) At Outperform With $230 Price Targe

EV Eaton Vance downgraded to Sell from Hold at Citigroup


News and Views

 Financials finished better Wednesday up 0.45% after giving back its earlier gains. The market got a nice boost mid-morning. Regional banks jumped as the Barclays takeover speculation with STI went around again. Fitch report on the large banks repurchasing troubled mortgages from Fannie and Freddie brought financials back a bit, as Fitch estimates losses of $20 to $27 bln. Financial services lagged the sector off (0.12%), credit cards and online brokers the top culprits.


Sector News, M&A, Capital Raises

 MasterCard (MA) to acquire DataCash Group for 360p/share in cash (234p)
The purchase will be £333M ($520M) altogether. In 2009, the 362-employee payment service provider posted revenue of £36.9M and an EBITDA margin of 46%. MasterCard expects the purchase of DataCash to be approximately $0.05 dilutive to its Q4 EPS due to amortization and one-time transaction costs. MasterCard expects the transaction to be breakeven with respect to EPS for 2011 and accretive in 2012. The transaction is expected to close by the end of October. Conference call: 09:00 ET, 866-831-6224 (US) and +1-617-213-8853 (international), passcode 39132639.


Disclaimer: Prepared by staff of Cantor Fitzgerald & Co. ("Cantor") and is for information purposes only. It is not intended to form the basis of any investment decision, should not be considered a recommendation by Cantor or any other person and does not constitute an offer or solicitation with respect to the purchase or sale of any investment nor is it a confirmation of terms. Any calculations and valuations presented herein are intended as a basis for discussion. Sources of information are believed to be reliable but Cantor makes no representation and gives no warranty that the information contained herein is accurate or complete. Any opinions or estimates given may change. Cantor undertakes no obligation to provide recipients with any additional information or any update to or correction of the information contained herein. This material is intended solely for institutional investors and investors who Cantor reasonably believes are institutional investors. Cantor, its officers, employees, affiliates and partners shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in the information contained herein or any reliance on that information. Cantor may have positions in financial instruments mentioned, may have acquired such positions at prices no longer available, and may have interests different or adverse to your interests. No liability is accepted by Cantor for any loss that may arise from any use of the information contained herein or derived here from. This product may not be reproduced or redistributed outside the recipient's organization. Sources: Cantor Fitzgerald & Co., Reuters, Bloomberg, CNBC, Dow Jones, Marketwatch, Trade-Alert, and the Wall Street Journal. ***All eco data from Bloomberg and DJ
Lindblom, Ledwith, Mayerhofer (212) 829-5482

News and Views

 Financials finished better Wednesday up 0.45% after giving back its earlier gains. The market got a nice boost mid-morning. Regional banks jumped as the Barclays takeover speculation with STI went around again. Fitch report on the large banks repurchasing troubled mortgages from Fannie and Freddie brought financials back a bit, as Fitch estimates losses of $20 to $27 bln. Financial services lagged the sector off (0.12%), credit cards and online brokers the top culprits.


Active Names

 

Big Banks  -  BAC, C, WFC, JPM, GS, MS, FITB, STT, USB, HBAN, HCBK, PBCT, FHN, RF, BBT

Mid/SmallcapBanks/S&L-  FBP, WAL, EWBC, GSBC, HMPR, IBKC, PRWT, RBPAA, WBCO,NYB,DCOM,SBIB,CVBF,GAIN,LKFN,TFSL,IBCP,BRKL

Brokers  KCG, SCHW, AMTD, ETFCD

Asset Managers/Inv co’s-  BX, FIG, GLG, GROW, JNS, LAZ, MF, LM,KFN

Insurance-  GNW, HIG, MET, ALL, TRV

CreditCards-  AXP, COF, MA, V, DFS

Specialty Finance/Mort Insurers-   ACAS, ABK, MBI, MTG, RDN


Sector News, M&A, Capital Raises

 MasterCard (MA) to acquire DataCash Group for 360p/share in cash (234p)
The purchase will be £333M ($520M) altogether. In 2009, the 362-employee payment service provider posted revenue of £36.9M and an EBITDA margin of 46%. MasterCard expects the purchase of DataCash to be approximately $0.05 dilutive to its Q4 EPS due to amortization and one-time transaction costs. MasterCard expects the transaction to be breakeven with respect to EPS for 2011 and accretive in 2012. The transaction is expected to close by the end of October. Conference call: 09:00 ET, 866-831-6224 (US) and +1-617-213-8853 (international), passcode 39132639.


Research Away

 

FCNCA FBR Capital Markets Reiterates First Citizens Bancshares Inc. (FCNCA) At Outperform With $230 Price Targe

EV Eaton Vance downgraded to Sell from Hold at Citigroup


News and Views

 Financials finished better Wednesday up 0.45% after giving back its earlier gains. The market got a nice boost mid-morning. Regional banks jumped as the Barclays takeover speculation with STI went around again. Fitch report on the large banks repurchasing troubled mortgages from Fannie and Freddie brought financials back a bit, as Fitch estimates losses of $20 to $27 bln. Financial services lagged the sector off (0.12%), credit cards and online brokers the top culprits.


Sector News, M&A, Capital Raises

 MasterCard (MA) to acquire DataCash Group for 360p/share in cash (234p)
The purchase will be £333M ($520M) altogether. In 2009, the 362-employee payment service provider posted revenue of £36.9M and an EBITDA margin of 46%. MasterCard expects the purchase of DataCash to be approximately $0.05 dilutive to its Q4 EPS due to amortization and one-time transaction costs. MasterCard expects the transaction to be breakeven with respect to EPS for 2011 and accretive in 2012. The transaction is expected to close by the end of October. Conference call: 09:00 ET, 866-831-6224 (US) and +1-617-213-8853 (international), passcode 39132639.


Disclaimer: Prepared by staff of Cantor Fitzgerald & Co. ("Cantor") and is for information purposes only. It is not intended to form the basis of any investment decision, should not be considered a recommendation by Cantor or any other person and does not constitute an offer or solicitation with respect to the purchase or sale of any investment nor is it a confirmation of terms. Any calculations and valuations presented herein are intended as a basis for discussion. Sources of information are believed to be reliable but Cantor makes no representation and gives no warranty that the information contained herein is accurate or complete. Any opinions or estimates given may change. Cantor undertakes no obligation to provide recipients with any additional information or any update to or correction of the information contained herein. This material is intended solely for institutional investors and investors who Cantor reasonably believes are institutional investors. Cantor, its officers, employees, affiliates and partners shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in the information contained herein or any reliance on that information. Cantor may have positions in financial instruments mentioned, may have acquired such positions at prices no longer available, and may have interests different or adverse to your interests. No liability is accepted by Cantor for any loss that may arise from any use of the information contained herein or derived here from. This product may not be reproduced or redistributed outside the recipient's organization. Sources: Cantor Fitzgerald & Co., Reuters, Bloomberg, CNBC, Dow Jones, Marketwatch, Trade-Alert, and the Wall Street Journal. ***All eco data from Bloomberg and DJ