Business & Finance
Business and Finance
Business and Finance
Thu, May 17, 2012 Shares of Major Banks Fall as Political Uncertainty in Greece Grows
May 17, 2012 08:20 ET
Shares of Major Banks Fall as Political Uncertainty in Greece Grows
Five Star Equities Provides Stock Research on Citigroup and Morgan Stanley
NEW YORK, NY--(Marketwire - May 17, 2012) - Year-to-date, banking stocks have been some of the strongest performers on Wall Street. The SPDR S&P Regional Banking ETF (KRE) has risen over 11.5 percent in 2012. But shares of the big banks have fallen recently amid growing concerns over Europe's debt crisis. Five Star Equities examines the outlook for companies in the Banking Industry and provides equity research on Citigroup Inc. (
Access to the full company reports can be found at:
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[ www.FiveStarEquities.com/MS ]
Concerns over Europe's debt crisis have been growing as a result of recent political problems in Greece. Political parties in Greece have debated over a power-sharing arrangement that would create a new government. As talks drag on, there is growing uncertainty and concerns of Greece missing their next debt payment and possibly dropping out of the euro currency. If European officials fail to halt the financial crisis major U.S. banks could be exposed to losses as credit markets freeze and supply of critical funds are cut off.
Five Star Equities releases regular market updates on the Banking Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at [ www.FiveStarEquities.com ] and get exclusive access to our numerous stock reports and industry newsletters.
Citigroup has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. The company last month reported net income of $2.9 billion, or $0.95 per diluted share, for the first quarter 2012 on revenues of $19.4 billion. CVA/DVA was a negative $1.3 billion during the first quarter, resulting from the tightening of Citi's credit spreads, compared to a negative $256 million in the prior year period.
Morgan Stanley last month reported net revenues of $6.9 billion for the first quarter ended March 31, 2012 compared with $7.6 billion a year ago. For the current quarter, the loss from continuing operations applicable to Morgan Stanley was $78 million, or a loss of $0.05 per diluted share compared with income of $984 million, or $0.51 per diluted share, for the same period a year ago.
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