XLF, Banking and Financial Sector Stocks
- KirkL
- SteveT
- MichaelC_AU
- MichaelC_AU
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» KirkL - Goldman Sach's IPO
Goldman Sachs shares soar in first day of tradingNEW YORK, May 4 (Reuters) - Shares of Goldman Sachs Group Inc. (GS - news) on Tuesday opened at a hefty 43 percent premium to their initial public offering price, showing that investors were willing to pay up for one of Wall Street's premier investment banks.
Goldman's stock opened at $76 in Tuesday morning trading on the New York Stock Exchange, up $23, or 43 percent, from its initial offering price of $53. The exchange at first had delayed trading in the shares because a flood of buy orders created an order imbalance.
-- posted by KirkL
» SteveT - Robert E. Rubin to join Citigroup
Former U.S. Secretary of the Treasury Robert E. Rubin is heading to financial powerhouse Citigroup, joining top executives Sanford I. Weill and John S. Reed in a newly created three-person office of the chairman.
http://biz.yahoo.com/apf/991026/rubin_ci..."
I was going to lighten up some on C, but think I will wait awhile and see if we get a run up. This is not news that will add to earnings today but could over the next several years. Even talked in chat last night( you should have been there it was great) with David about writing some covered calls. Will wait on that also.
-- posted by SteveT
» MichaelC_AU - Bank Sector Outlook?
Where can you find out more about the outlook for bank stocks?I have a major percentage of my assets in a $10B regional bank. After rocketing 25% in 1996, 75% in 1997, it has been hovering at 30% off of it's Spring '98 high, for 18 months.
I would have been as well off in SPY.
Hangin on,
-- posted by MichaelC_AU
» MichaelC_AU - Boring Banks
No one wants to comment on banks, but they will talk to the hilt about loser.com that won't make a dime until 2010!Banks might be the next hot sector, I hope so, then I will diversify.
-- posted by MichaelC_AU
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