At least 57 stocks were trading at 52 week low by Friday's mid-day trading. A majority of stocks indicating further sell-off pressure include small bankers like Allegiance Bank of North (NASDAQ: ABPA) Colonial Bancorp Inc. (NYSE: CNB), Corus Bancshares Inc. (NASDAQ: CORS), Coast Bancorp (NASDAQ: CTBP) and some other financials.
Such stocks are all trading in weak zone and all of them are showing further weakness with 50 days MA pointing lower than 200 days trailing MA.
The Federal Deposit Insurance Corp. says a group of private investment firms led by Starwood Capital Group LLC has won the right at auction to buy a 40% stake in a firm that holds assets of Corus Bank, which failed last month, for $554 million.
Asian stocks gain on commodity prices; Newcrest advances on record gold prices.ECB little reason to raise rates over next 12 months because of a muted inflation outlook: IMF.Fed should increase interest rates 'sooner rather than later,' Hoenig says.[More...]
Regulators shut down 3 more banks including Corus; total failed banks in ‘09 reach 92
Three more banks including Corus Bank NA, a subsidiary of Corus Bankshares (CORS), were shuttered by the U.S. regulators on Friday as the recession continues to take its toll on banks. This takes the total number of failed federally insured [...]
It would seem that investors need a clear theme as they start trading each week. Today the focus is on the potential for a trade war after the U.S. backed the complaint of the U.S. Steelworkers Union over $1.8 billion of Chinese tire sales to the U.S. In response the Chinese are looking at U.S. ...
Three more banks including Corus Bank NA, a subsidiary of Corus Bankshares (CORS), were shuttered by the U.S. regulators on Friday as the recession continues to take its toll on banks. This takes the total number of failed federally insured banks in this year to 92, compared to 25 in 2008 ...
U.S. stock futures are lower in Monday's pre-market trading. Broader-market stock trade looks to face carry-over selling pressure from Friday and as global stocks drop.[More...]
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