William Patalon III
Strategists at Bank of America Corp. (NYSE: BAC) are calling it “The Icarus Trade,” a reference to the story of the boy who ignored warnings and flew too close to the sun – and plunged to his death when his feather-and-wax wings melted from the heat.
The Bank of America prognosticators are using this tale from Greek mythology for the post-inauguration prediction that they’re making: A parabolic “melt-up” that carries global stock prices up another 10% in a continuation of the “Trump Reflation Rally” – followed by a total market “meltdown” later this year.
As we told you in a report last week, Stealth Profits Trader Editor D.R. Barton, Jr. – a colleague and good friend of mine here at Money Map Press – has made a call that’s almost the exact opposite of what the BoA folks are predicting.
D.R. believes U.S. stocks are going to stumble.
Top Bank Stocks To Own For 2018: First Commonwealth Financial Corporation(FCF)
- [By SEEKINGALPHA.COM]
The last year Netflix generated positive free cash flow (FCF), was 2010, which happens to coincide with the year it began significantly increasing its content library, per Figure 2 above. Since then, Netflix has burned through cumulative $3.6 billion in cash, per Figure 3, and the cash burn is only accelerating. In 2015, NFLX’s FCF sat at -$1.6 billion, and over the last twelve months, FCF has worsened to -$1.9 billion.
Top Bank Stocks To Own For 2018: Wells Fargo & Company(WFC)
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The only bank Cramer would avoid is Wells Fargo (WFC) , which could still see more big fines coming from its fraudulent account scandals.
Executive Decision: Taylor Morrison Homes
In his second “Executive Decision” segment, Cramer sat down with Sheryl Palmer, chairman, president and CEO of Taylor Morrison Homes (TMHC) , for a read on the state of the housing market.
- [By Craig Jones]
On CNBC's "Fast Money Halftime Report", Pete Najarian spoke about unusually high options activity in Wells Fargo & Co (NYSE: WFC).
- [By Ben Levisohn]
Earnings season is getting underway this week, with big banks JPMorgan Chase (JPM), Bank of America (BAC), and Wells Fargo (WFC) announcing their results on Friday. They’ll be followed by Citigroup (C) and Morgan Stanley (MS) on Jan. 17, and Goldman Sachs (GS) on Jan. 18.
Top Bank Stocks To Own For 2018: Canadian Imperial Bank of Commerce(CM)
- [By Logan Wallace]
Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Analysts at Desjardins reduced their Q2 2018 earnings per share estimates for Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Wednesday, May 2nd. Desjardins analyst D. Young now forecasts that the company will post earnings of $2.85 per share for the quarter, down from their prior estimate of $2.86.
Top Bank Stocks To Own For 2018: Ampco-Pittsburgh Corporation(AP)
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Mexico City (AP) — A powerful magnitude-7.2 earthquake shook south and central Mexico Friday, causing people to flee swaying buildings and office towers in the country's capital, where residents were still jittery after a deadly quake five months ago.
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Kabul, Afghanistan (AP) — A Taliban assault on the Intercontinental Hotel in Afghanistan's capital killed at least six people, including a foreigner, and pinned security forces down for more than 13 hours before the last attacker was killed on Sunday, with the casualty toll expected to rise.
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Anchorage, Alaska (AP) — A magnitude 8.2 earthquake off Alaska's Kodiak Island prompted a tsunami warning for a large swath of coastal Alaska and Canada's British Columbia while the remainder of the U.S. West Coast was under a watch.