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Credit Market Commentary: Market Derived Signal: CDS Investors Express Fear Of Financials Sector Oct 11 Product Image

Credit Market Commentary: Market Derived Signal: CDS Investors Express Fear Of Financials Sector Oct 11

  • ID: 1931272
  • October 2011
  • Standard & Poors

FEATURED COMPANIES

  • Bank of America Corp.
  • Citigroup Inc.
  • Goldman Sachs & Co.
  • JPMorgan Chase & Co.
  • Morgan Stanley
  • MORE

Abstract
As uncertainty about the global economy persists, expected third-quarter earnings growth for S&P 500 firms has decreased since the beginning of the third quarter, to less than 13% as of Oct. 5 from 16.9% on July 1. Yet, the cuts have been most severe in the financials sector. On July 1, analysts polled by Capital IQ expected financials to report earnings per share of $4.29, implying an increase from the third quarter of 2010 of 14.5%. As of Oct. 5, analysts expect a collective per-share profit of $3.83, or growth of 2.2%. Worries about contagion in the U.S. from Europe is one factor driving the revisions. According to a Wall Street Journal report on Sept. 30, Morgan Stanley's share price...

Companies mentioned in this report are:
- Bank of America Corp.
- Goldman Sachs & Co.
- Morgan Stanley
- JPMorgan Chase & Co.
- Citigroup Inc.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

Note: Product cover images may vary from those shown

- Bank of America Corp.
- Goldman Sachs & Co.
- Morgan Stanley
- JPMorgan Chase & Co.
- Citigroup Inc.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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