Financial Sector Update: Stocks to Watch

Strategic Insights -

The Financial sector has been experiencing a mixed trading day with some stocks pushing lower and others gaining. The Dow Jones Industrial Average is up 60 points (0.3%) at 17,380, while the NYSE advances/declines ratio is at 2,141 issues advancing vs. 842 declining with 156 unchanged. The Financial sector is currently up 0.5% versus the S&P 500, which is up 0.4%.

Key Takeaways:

  • Canadian Imperial Bank of Commerce (CM) is one of the companies pushing the Financial sector lower today, down $1.14 (-1.5%) to $75.38 on average volume.
  • Credit Suisse Group (CS) is also down, -$1.26 (-5.4%) to $21.96 on heavy volume, with 2.6 million shares exchanged hands compared to its average daily volume of 1 million shares.
  • Simon Property Group (SPG) is down $1.36 (-0.7%) to $198.71 on average volume, with 578,713 shares exchanged hands compared to its average daily volume of 1.4 million shares.
  • TheStreet Ratings rates Canadian Imperial Bank of Commerce as a hold, while Credit Suisse Group is rated as a sell. Simon Property Group is rated as a buy.
  • The company's strengths can be seen in multiple areas, such as Canadian Imperial Bank of Commerce's expanding profit margins and notable return on equity, while Credit Suisse Group's weaknesses include its generally disappointing historical performance and weak operating cash flow.
  • Simon Property Group's strengths include its solid stock price performance, revenue growth, notable return on equity, and expanding profit margins.

Statistics:

  • The Dow Jones Industrial Average is up 60 points (0.3%) at 17,380.
  • The NYSE advances/decline ratio is at 2,141 issues advancing vs. 842 declining with 156 unchanged.
  • The Financial sector is up 0.5% versus the S&P 500, which is up 0.4%.
  • Canadian Imperial Bank of Commerce is down 11.0% year-to-date as of Thursday's close.
  • Credit Suisse Group is down 7.4% year-to-date as of Thursday's close.
  • Simon Property Group is up 9.9% year-to-date as of Thursday's close.

Sources:

  • TheStreet
  • TheStreet.com (http://www.thestreet.com/)
  • TheStreet Quant Ratings
  • TheStreet Ratings
  • TheStreet.com quote
  • NYSE
  • S&P 500
  • Dow Jones Industrial Average
  • Canadian Imperial Bank of Commerce (http://www.thestreet.com/quote/cm.html)
  • Credit Suisse Group (http://www.thestreet.com/quote/cs.html)
  • Simon Property Group (http://www.thestreet.com/quote/spg.html)
  • Financial Select Sector SPDR (http://www.thestreet.com/quote/XLF.html)
  • Proshares Short Financials (http://www.thestreet.com/quote/SEF.html)