Regional SunTrust Banks swings to $183.5 million loss

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

  1. 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.

    Expected Earnings SUNTRUST BANKS 07/22/2009 06/2009 -0.51
  2. Let me guess.. 20% gap up on "less bad than expected" losses ? :cool:
  3. ?......they were "short" the S&P on the way up. :cool: