Regional SunTrust Banks swings to $183.5 million loss

Discussion in 'Stocks' started by ASusilovic, Jul 22, 2009.

  1. ASusilovic

    ASusilovic

    SunTrust said it swung to a second-quarter loss of $183.5 million, or 41 cents a share, after loan-loss provisions of $962.2 million and the year-earlier sale of Coca-Cola shares. The Atlanta bank earned $530 million, or $1.52 in the year-earlier period. Revenue fell 16% to $2.19 billion. Analysts polled by FactSet Research had forecast a loss of 49 cents a share.

    http://www.marketwatch.com/story/suntrust-banks-swings-to-1835-million-loss

    Expected Earnings SUNTRUST BANKS 07/22/2009 06/2009 -0.51
     
    #1     Jul 22, 2009
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  2. makloda

    makloda

    Let me guess.. 20% gap up on "less bad than expected" losses ? :cool:
     
    #2     Jul 22, 2009
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  3. nazzdack

    nazzdack

    ?......they were "short" the S&P on the way up. :cool:
     
    #3     Jul 22, 2009
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