Frank Barkocy
Frank Barkocy
actions costs degree difficult headline high lawsuits magnitude might potential risk
Today's actions were pretty well discounted and well telegraphed. It's much more difficult to ascertain what the magnitude of the potential costs from lawsuits might be. So there's still a high degree of headline risk for the brokerages.
bank looking near number performance questions sluggish stocks
Without the Bank of America-Fleet announcement today, we'd be looking at a much more sluggish performance for bank stocks in the near term. There are still a number of questions about the economy.
excited prospects somewhat terribly turned
Expectations for the brokers have turned somewhat more negative. We're not terribly excited about the near-term prospects for a lot of these stocks.
branches work
They'll have to do some work to get the branches up to snuff.
absence banking given investment less
Given the absence of investment banking relationships, these analysts can be less delicate.
catalyst line move
Fundamentals will probably be in line with expectations but that won't be the catalyst to move these stocks,
actions
Today's actions were pretty well discounted and well telegraphed,
currently engaged equals fit limited merger months next number odds percent players suggested third union year
They said the odds of First Union doing a merger of equals in the next 24 months is 10 percent or less, ... and in the third year it is probably about 33 percent. They suggested there are only a limited number of players out there that would fit with them and many of them are currently engaged in digesting their own acquisitions.
brought built strongest united
For an institution that was brought to its depths, Citigroup has built one of the strongest franchises in the world, not just the United States.
balanced bringing goodwill key unusual
It's unusual to be that accommodating. But it's kind of balanced by the goodwill consideration of bringing a key (tourism) destination to town.
banks environment
In that environment banks should do well psychologically as well as fundamentally.
catalyst domino major market waiting
The market has been waiting for a major announcement like this to be a catalyst for more deals. There could be a domino effect.