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Non-U.S. Banks - May 13 2009 9:38AM

Wed, 13 May 2009 13:40:00 GMT

In general, we believe it is still a bit early to get involved with non-US bank stocks as the fundamental outlook remains weak -- asset quality will continue to deteriorate as individuals and companies default on loans, and revenues should continue to fall as loan growth falters and investment banking faces a dearth of new business in the face of economic slowing. Consumer job losses and sluggish business conditions are increasing worldwide, which will tend to dampen demand for credit, even assuming banks are capable of lending more. Moreover, these factors will also hurt asset quality and increase losses on the existing "good" loan portfolios, even apart from considerations of toxic assets. Combined with top-line pressure due to weakening economic conditions, non-US banks face a daunting outlook. That said, we believe that banks in stable emerging economies, such as Chile, Brazil or India, may be more attractive investments, similar to what we[More...]

Unibanco Downgraded on Merger - Analyst Blog

Mon, 01 Dec 2008 18:04:00 GMT

We are reducing our rating on Unibanco Uniao de Bancos Brasileiros SA (UBB) to Hold from Buy following the merger agreement with Banco Itau Holding Financeira S.A. (or Itau) (ITU). On November 3, 2008, UBB and Itau announced a merger, creating the largest bank in Brazil, with R$575 billion in assets, 4,800 branches, and a 19% share of the Brazilian loan market. The transaction, expected to be completed in first half 2009, should be immediately accretive to earnings. Pro forma for the merger with Itau and based upon our current estimates, we expect net income in 2009 to increase 5% to R$11,351 million. However, we show a decline in US$ after taking into account the negative impact of[More...]

Brazilian Bank Merger For Emerging Market's Largest

Tue, 04 Nov 2008 15:36:00 GMT

The merger announced yesterday will have repercussions outside of the Brazilian stock market. Banco Itaú Holdings S.A. (U.S. ADR: ITU) and Unibanco (ADR: UBB) will merge in an all stock deal to form Itaú Unibanco Holding S.A. The merger will have a ripple[More...]

Flowserve: Impressive Again

Wed, 29 Oct 2008 14:40:00 GMT

Despite owning very few names, I continue to keep up with many companies monitoring their results, cash levels, commentary on order flow and if the "death of the entire globe" story is a bit overdone. It's a moot point talking about commodities or financials as they spin in their own universes but a company like Flowserve (FLS) which has been thrown into the "global growth" garbage pail is one name I am interested in for multiple reasons. (note: unrelenting bitter sarcasm ahead) We owned this name for a short time and lost a little money despite the company raising guidance last time around (Jul 31: Flowserve Mighty Impressive[More...]

Can Brazilian Stocks Bounce Back?

Tue, 28 Oct 2008 19:09:00 GMT

Yesterday the major Brazilian stock index, Bovespa Sao Paulo, fell to a new 3 year low and closed 60% below the 52 week high reached in May 2008. U.S. investors holding Brazilian stocks as either ADRs or the Brazil focused ETF EWZ have faired even worse[More...]

Six Profit Plays From South Of The Equator

Fri, 24 Oct 2008 17:30:00 GMT

By Martin Hutchinson Contributing Editor Money Morning Like most other markets, Brazil has been battered by the credit crisis – the BOVESPA index is currently down 28% in October alone... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first. [More...]

Short Setups For Wednesday

Wed, 15 Oct 2008 14:15:00 GMT

Although we may have room to rally, I am finding far more attractive setups on the short side. Buying has lacked volume, and yesterday saw a large number of reversals in sector ETF's and individual stocks. Here are a few that I am watching for today:- MMP is in the oil transportation and storage business. It has seen a huge rally off the lows, and is now at resistance. I am short already.- PAA is in the same business, with a similar pattern. I'm short[More...]

Banks World-Wide Feeling the Impact - Zacks Analyst Interviews

Thu, 18 Sep 2008 12:48:00 GMT

To find out how the U.S. financial crisis is beginning to play out in foreign markets, we spoke late last week with Zacks senior analyst Ann Heffron, CFA recently about how banks around the world under her coverage are currently being affected.[More...]

Brazilian Banks/Asset Managers Continue to Gain Assets

Fri, 12 Sep 2008 14:21:00 GMT

With Brazil's emergence onto the global economy, there have undoubtedly been some excellent investment opportunities. But, most of the gains have been concentrated in the energy and natural resource spaces. As Brazil continues to emerge as a growing nation with a strong economy, I've turned my focus to the next wave of investments to make in Brazil. And, I think it can come from a sector that has been touched on by many before, but has never really garnered the spotlight. I'm talking about Brazilian banks and asset managers. Over the long term, their financial landscape will continue to evolve and the underlying financial firms are poised to benefit, seeing as Brazil has now become a net foreign creditor. Also, due to the booming economy, many Brazilians have started to enjoy new-found wealth and are turning to banks/asset managers looking for a place to put their hard earned money to work.Institutional[More...]

Analyst Comments: U.S. Steel, Ciena, MTG Investment, CVS Caremark, I-Flow, CastlePoint, Banco Itau, Cameron, Ericsson, National Semi, Affirmative Insurance

Tue, 09 Sep 2008 13:10:00 GMT

United States Steel Corp.?s (X) near-term profitability is expected to be strong due to higher flat-rolled contract prices and relatively low costs due to backward integration. The company also has strong cash flow, enabling increased dividend payments, s[More...]

Fed Chairman Sees Trouble With Taking Over Banks

Thu, 19 Feb 2009 17:50:00 GMT

Feb. 19--WASHINGTON -- Federal Reserve Chairman Ben Bernanke said Wednesday that there would be drawbacks to the federal government nationalizing banks and that the Obama administration remains committed to a quick return to private hands if that becomes necessary.
"There is the additional problem if you have a government-run institution, you tend to lose their franchise value, and counterparties don't like to deal with you because they don't know your future.
Sen. Lindsey Graham, R-S.C., told the Observer this week that the government should weigh nationalization because it has already poured billions into banks with little to show for the economy.

[More...]

Itau Private Sponsors Tournament in the United States

Fri, 03 Apr 2009 11:56:00 GMT

This month, Florida will host one of the five main tennis events of the world, the Sony Ericsson Open. Itau Private Bank International is once again present at the competition, this time as host sponsor, and will provide its clients with a privileged view of the main court during the 12 game days. The 25th edition of the event at Crandon Park in Key Biscayne, Florida, will convene 153 of the best players of both genders from more than 35 countries.[More...]

Approval of the Merger Between Itau and Unibanco

Fri, 20 Feb 2009 14:34:00 GMT

ITAU UNIBANCO BANCO MULTIPLO S.A , UNIBANCO - UNIAO DE BANCOS BRASILEIROS S.A. and UNIBANCO HOLDINGS S.A. are pleased to announce that:[More...]

Webcast Alert: Itau Unibanco Banco Multiplo S.A. Announces Webcast of 2008 Earnings Conference Call

Thu, 19 Feb 2009 12:53:00 GMT

Itau Unibanco Banco Multiplo S.A. announces the following webcast:[More...]

BenchmarkJournal.Com (Complimentary) Analyst Review for ITU, RIO, CELG and UAUA

Wed, 17 Dec 2008 16:13:00 GMT

Benchmark Journal brings independent company and sector research together, utilizing top financial advisors and investment tactics to provide you with a clear picture of investment opportunities.
Our company profiles will be at your fingertips, presented in a clearly laid out format that allows you to easily comprehend the dynamics of our featured companies.
Today we began tracking Banco Itau Holding Financeira S.A. (NYSE: ITU), COMPANHIA VALE ADS (NYSE: RIO), Celgene Corporation (NASDAQ: CELG) and UAL Corporation (NASDAQ: UAUA).

[More...]

Itausa and Itau Unibanco Banco Multiplo Announce Apimec Meeting - Dec 4 2008 8:21AM

Thu, 04 Dec 2008 11:57:00 GMT

The Executive Boards of Itausa - Investimentos Itau S.A. and Itau Unibanco Banco Multiplo S.A. are pleased to extend this invitation to the presentations they will make to members of the Association of Capital Markets Analysts and Investment Professionals, shareholders and any other interested parties.[More...]

Zacks Analyst Blog Highlights: Unibanco Uniao De Bancos Brasileiros SA, Banco Itau Holding Financeira S.A., ADC Telecommunications, SAP AG and Cephalon Inc.

Wed, 03 Dec 2008 11:13:00 GMT

Zacks.com announces the list of stocks featured in the Analyst Blog.
Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include: Unibanco Uniao de Bancos Brasileiros SA (NYSE: UBB), Banco Itau Holding Financeira S.A. (or Itau) (NYSE: ITU), ADC Telecommunications (NASDAQ: ADCT), SAP AG (NYSE: SAP) and Cephalon Inc. (NASDAQ: CEPH).

[More...]

Itausa and Itau Unibanco Banco Multiplo Announce Apimec Meeting - Dec 1 2008 12:41PM

Mon, 01 Dec 2008 14:48:00 GMT

Seven Summits Research Releases Comments on JPM, MO, INFY, BMY, and ITU

Fri, 21 Nov 2008 15:11:00 GMT

Seven Summits Research releases NewsBites on key stocks.[More...]

Banco Itau Holding Financeira S.A. Announces Interest on Capital

Tue, 18 Nov 2008 10:39:00 GMT

We wish to inform our Stockholders that at a meeting of the Board of Directors of Banco Itau Holding Financeira S.A. held on November 17 2008, it was decided to assign the interest on capital provisioned in the audited financial statements dated September 30, 2008, allocated to the amount of mandatory dividend for the year 2008, as follows:[More...]

Banco Itau Holding Financeira S/A Announcement

Thu, 13 Nov 2008 08:48:00 GMT

Itausa - Investimentos Itau S.A. , Banco Itau Holding Financeira S.A.[More...]