This page has been archived and commenting is disabled.
State Street Next Blowup?
State Street (STT) stock tumbled 33% in premarket trading (last at $24/share). The world's largest money manager for institutions said 2009 profit will be little changed from last year after Q4 earnings fell 71%. What is curious is that according to Bloomberg out of the 18 analysts who cover the stock, 9 have a buy rating, 9 have a hold and 0 are at sell...yup, good to see sell-side research ahead of the ball on this one too. Dick Bove will have more reasons to vent his anger at Vikram, with his STT price target of $50.
*********UPDATE**********
Stock trading at $18 post open
*********UPDATE 2**********
Closed $14.89 - wow
»
- 745 reads
- Printer-friendly version
- Send to friend
- advertisements -