The stocks of U.S. banks like Bank of America (NYSE:BAC) and Citigroup (NYSE:C), not to mention smaller regional players like Zions (Nasdaq: ZION), Regions (NYSE:RF), and Synovus (NYSE:SNV),
have enjoyed strong rebounds on the back of the clean-up trade –
ongoing improvements in bad debt inflow, credit ratios, and so on.
As bad as things got in the U.S., they were much worse in Europe and Societe Generale (Nasdaq:SCGLY)
teetered on the brink of going the way of Lehman Brothers and
Washington Mutual. Since going almost to the very edge of the cliff,
though, SocGen management has been working hard to clean up the
business, shore up its capital, and reposition the company for
profitable growth. Although there is still a lot left to be done, and
ample doubts as to whether they can do it, a strong second quarter and
ongoing improvements are a good sign.
Please read more here:
http://www.investopedia.com/stock-analysis/080713/societe-generale-continues-clean-its-act-scgly-bac-c-san.aspx
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