: iStockAnalyst.com Symbols Feed

State Street : 8-K filed: Very Large Increase in Unrealized Losses, Proforma TCE Ratio with Conduits Under 1%?

Mon, 19 Jan 2009 19:43:00 GMT

JP Morgan is out with some negative comments on State Street (NYSE:STT) that filed an 8-K after market close on Friday to disclose very large increase in unrealized losses in its securities portfolio and in its conduits. By firm's estimates, proforma tangible common equity ratio with the conduits would likely fall from an already thin level of 3% at 9/30 to below 1% at 12/31/08. TCE ratio for its on balance sheet assets would be about 3.5% including deferred tax benefit, down from 4.8% at 9/30. STT also disclosed a $78 mil securities impairment charge in 4Q08. 4Q results will include previously announced $450 mil charge for managed accounts. There was also a charge of $160 mil in 1Q08 for these managed accounts. [More...]

No light at the End of Funnel

Wed, 17 Sep 2008 05:19:00 GMT

Below is a repeat of detailed summary of the reasons for my views (as presented on this forum last month) that this will turn out to be the worst financial crisis since the Great Depression and the worst US recession in decades (hyperlinks to my relevant[More...]

Shadow Banking Collapse

Sun, 14 Sep 2008 20:25:00 GMT

It is now clear that we are again – as we were in mid- March at the time of the Bear Stearns collapse – an epsilon away from a generalized run on most of the shadow banking system, especially the other major independent broker dealers (Lehman, Merrill Lynch, Morgan Stanley, Goldman Sachs). If Lehman does not find a buyer over the weekend and the counterparties of Lehman withdraw their credit lines on Monday (as they all will in the absence of a deal) you will have not only a collapse of Lehman but also the beginning of a run on the other independent broker dealers (Merrill Lynch first but also in sequence Goldman Sachs and Morgan Stanley and possibly even those broker dealers that are part of a larger commercial bank, I.e. JP Morgan and Citigroup). Then this run would lead to a massive systemic meltdown of the financial system. That is the reason why the Fed has convened in emergency meetings the heads of all major Wall Street firms on Friday and again today to convince them not to[More...]

Lehman Hits Lowest Level Since 2000

Tue, 01 Jul 2008 17:49:35 GMT

Lehman Hits Lowest Level Since 2000 Amid Buzz: “Lehman Brothers Holdings Inc. shares tumbled on Monday to their lowest level since 2000 on yet another swirl of speculation that the Wall Street firm is in trouble, including possibly having to sell itself f[More...]

ABCP Shrivels Up, Banks Leverage Up

Thu, 26 Jun 2008 13:40:47 GMT

Asset Backed Commercial Paper (ABCP) outstanding continues to shrivel up…[More...]

AmBase Reports Second Quarter and Six Months Results

Tue, 04 Aug 2009 18:51:00 GMT

GREENWICH, Conn., Aug. 4 /PRNewswire-FirstCall/ -- AmBase Corporation (the "Company") (BULLETIN BOARD: ABCP) announced today a net loss of $515,000 or $0.01 per share and $1,374,000 or $0.03 per share for the second quarter and six months ended June 30, 2009, respectively.
For the second quarter and six months ended June 30, 2008, the Company recorded a net loss of $1,120,000 or $0.03 per share and $3,438,000 or $0.08 per share respectively.
A more complete discussion of the Company's affairs is included in AmBase Corporation's Quarterly Report on 10-Q for the quarterly period June 30, 2009, filed with the Securities and Exchange Commission.

[More...]

AmBase Reports First Quarter Results - May 13 2009 12:54PM

Wed, 13 May 2009 16:49:00 GMT

GREENWICH, Conn., May 13 /PRNewswire-FirstCall/ -- AmBase Corporation (OTC Bulletin Board: ABCP) (the "Company") announced today a net loss of $859,000 or $0.02 per share for the three months ended March 31, 2009.
For the three months ended March 31, 2008, the Company recorded a net loss of $2,318,000 or $0.05 per share.
A more complete discussion of the Company's affairs is included in AmBase Corporation's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2009, filed with the Securities and Exchange Commission.

[More...]

AmBase Reports First Quarter Results

Wed, 13 May 2009 15:56:00 GMT

AmBase Corporation announced today a net loss of $859,000 or $0.02 per share for the three months ended March 31, 2009.[More...]

AmBase Reports Full Year Results - Mar 27 2009 4:56PM

Fri, 27 Mar 2009 20:51:00 GMT

GREENWICH, Conn., March 27 /PRNewswire-FirstCall/ -- AmBase Corporation (OTC Bulletin Board: ABCP) (the "Company") announced today a net loss of $4,431,000 or $0.10 per share for the full year ended December 31, 2008.
For the full year ended December 31, 2007, the Company recorded a net loss of $3,936,000 or $0.09 per share.
A more complete discussion of the Company's affairs is included in AmBase Corporation's Annual Report on Form 10-K for the year ended December 31, 2008, filed with the Securities and Exchange Commission.

[More...]

AmBase Reports Full Year Results - Mar 27 2009 11:48AM

Fri, 27 Mar 2009 15:41:00 GMT

AmBase Corporation announced today a net loss of $4,431,000 or $0.10 per share for the full year ended December 31, 2008.[More...]

AmBase Reports Third Quarter and Nine Months Ended September 30, 2008 Results

Wed, 12 Nov 2008 19:01:00 GMT

AmBase Corporation announced today a net loss of $628,000 or $0.01 per share and $4,066,000 or $0.09 per share for the third quarter and nine months ended September 30, 2008, respectively.[More...]

AmBase Reports Second Quarter and Six Months Quarter Results

Mon, 28 Jul 2008 20:47:00 GMT

AmBase Corporation announced today a net loss of $1,120,000 or $0.03 per share and $3,438,000 or $0.08 per share for the second quarter and six months ended June 30, 2008, respectively.[More...]