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News 

Tax cuts helped propel banks to $236.7 billion in profits in 2018

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“Annual bank profits rose $72.4 billion to $236.7 billion, the regulatory agency said” reports washingtonexaminer.com. CORRECTION: A previous version of this article incorrectly stated bank profits rose to $140.2 billion, instead of $236.7 billion.Lower taxes and substantially increased loan profits drove much of the growth, as banks benefited from both the 2017 tax reform law and rising interest rates.But loan losses, as measured against total revenue banks generated, decreased slightly. Source: washingtonexaminer.com

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News Stocks 

Fresh Del Monte to suspend its dividend; stock remains halted for news

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“The stock’s previous quarterly dividend was 15 cents a share, with the annual rate of 60 cents a share implying a dividend yield of 2.05% at Tuesday’s closing price” writes Reporter Editor for marketwatch.com. The stock has now tumbled 36.7% over the past 12 months while the S&P 500 SPX, +0.18% has gained 2.5%.FDP, -5.14% dropped 1.7% after resuming trade Wednesday, after the fruit and vegetable producer said it will suspend its quarterly cash dividend, “in light of the terms of the company’s credit facility.”. The stock’s selloff comes after…

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News Stocks 

CenturyLink’s stock plummets to 2-decade low after dividend chopped in half

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“But the company said it was lowering its annual dividend rate to $1.00 a share from $2.16 a share, beginning with the next dividend declaration” writes Reporter Editor for marketwatch.com. Based on Wednesday’s stock closing price of $14.70, the previous rate implied a dividend yield of 14.69%.No less than two analysts followed by downgrading the stock and at least eight analysts cut their price targets.At the new annual dividend rate, the yield would still be the highest in the S&P 500 at 7.67% at current prices.The dividend cut will reduce…

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News Stocks 

L3 Technologies boosts dividend by 6.3%

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“LLL, +0.61% said Tuesday it raised its quarterly dividend by 6.3% to 85 cents a share from 80 cents a share” writes Reporter Editor for marketwatch.com. L3’s stock has rallied 9.0% over the past three months, while the industrial ETF has gained 3.5% and the S&P 500 has slipped 0.6%.The provider of communication and electronic systems to the government said its new dividend will be payable March 15 to shareholders of record on March 1.Based on Monday’s stock closing price, the new annual dividend rate implies a dividend yield of…

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News Regulators 

2 notorious recession signals are descending into the danger zone, and they have some Wall Street strategists convinced that a meltdown is fast approaching

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“The first widely-used recession indicator that SocGen is watching is the yield curve, or the difference between interest rates on the 2- and 10-year notes” writes Akin Oyedele for businessinsider.com. “History shows that, on average since 1960, after an inversion of the 2y/10y yield curve the S&P 500 returns 29% before it peaks.”. Yet, the firm contended that the yield curve may not be a reliable precursor of recession this time around. Source: businessinsider.com

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News 

Treasurys follow European yields lower after cut to eurozone growth forecasts

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“The German 10-year bond yield TMBMKDE-10Y, -24.31% retreated 4.4 basis points to 0.121%, while the Italian 10-year yield rose 7.5 basis points to 2.912%” writes Sunny Oh for marketwatch.com. The central bank also snipped its growth expectations for the United Kingdom to 1.2% this year from 1.7%.Treasury yields fell in early Thursday trading, dragged lower by a slide in European yields after eurozone growth expectations for this year were slashed, adding to mounting concerns a global economic slowdown was under way.On the other hand, Italian government paper sold off as…

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Markets News Stocks 

Markets Right Now: Earnings gains drive stocks higher

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“Stocks are closing broadly higher on Wall Street as strong earnings reports from several U.S. companies put investors in a buying mood” reports thebusinessjournal.com. Stocks are moving broadly higher in midday trading on Wall Street as investors welcomed some strong earnings reports from U.S. companies.Stocks are opening higher on Wall Street as investors welcomed some strong earnings reports from U.S. companies. Source: thebusinessjournal.com

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News Stocks 

Time for stock-market investors to shake off the 3rd ‘recession scare’ of the cycle, analyst says

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“Dwyer argued stocks can push to new highs in 2019” writes Deputy Markets Editor for marketwatch.com. They argued that a decline in long-end Treasury yields signals unease over the economic outlook that will eventually come to haunt bullish investors.Moreover, the pivot suggests that an inversion of the 2-year Treasury yield TMUBMUSD02Y, -0.80%  versus 10-year Treasury TMUBMUSD10Y, -0.60%  is much less likely in coming months, he said. Source: marketwatch.com

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Markets News 

Treasury yields log largest daily drop in 4 weeks as Fed’s dovish turn fuels bond market bulls

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“The 30-year bond yield TMUBMUSD30Y, -1.16% fell 4.9 basis points to 3.003%, leaving it down 1.7 basis points for the month” writes Sunny Oh for marketwatch.com. The 2-year note yield TMUBMUSD02Y, -2.24% slipped 6.6 basis points to 2.458%, leading to a 3.8 basis point drop in January.The 10-year Treasury note yield TMUBMUSD10Y, -1.97% tumbled 6.3 basis points to 2.631%, its lowest since Jan. 3, contributing to a monthlong drop of 5.3 basis points.When debt rolls off a bond fund portfolio, the average maturity of the portfolio will fall, drifting away…

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