Washington Mutual - Grösste Sparkasse der USA! Chancen & Risiken. (Seite 34368)

[humm]

Antwort auf Beitrag Nr.: 34.378.088 von wgumcd am 26.06.08 10:21:29

>>3 Jahre<< werden schnell zu 2 Monate an der Börse.
Heute Flop morgen Top.
Anbetracht die Tatsachen das da nichts Fundamentales solche Kurse rechtfertigt, gehe ich davon aus, dass zum Jahresende die Fonds Windowdressing, also Bilanzkosmetik, machen werden und die Bankaktien schnell nach oben gebracht werden. Es ist nicht nur WM der dieses Schicksal gestern erlitten hat, sondern die gesamte Branche. Sogar deutsche Banken die von der amerikanischen Finanzkrise kaum was abbekommen haben. Es ist zurzeit „IN“ Banken zu shorten.
Wie gesagt, ich rechne dass zum Jahresende es anders aussehen wird.

Wünsche uns alle starken Nerven um diesen Wahn zu überstehen.

[wgumcd]

Antwort auf Beitrag Nr.: 34.377.475 von humm am 26.06.08 09:09:36

ich sehe die situation ähnlich wie du... allerdings glaube ich das wir in den nächsten 3 jahren wenig spass mit dem papier haben werden. was solls ich lege heute nach!

Gruß

[humm]

Antwort auf Beitrag Nr.: 34.377.386 von kurssprung am 26.06.08 08:52:12

Gestern war das ein ShortAngriff. Es gab gar keine Gründe dafür! Da spielen Fundamentaldaten keine Rolle. Die Angst wird ausgenutzt. Die Frage ist nur wie lange wird es so noch weiter gehen...
Die Meldungen sagen ja dass WM nicht an der Lastschuld brechen wird und wahrscheinlich auch keine weitere Kapitalerhöhung brauchen wird. Was will man mehr? Es ist nur noch Zeitfrage bis es nach oben gehen wird. Ich werde warten, egal wie lange es dauern wird.
Ich hoffe Mitte Juli auf ein paar positive Überraschungen/Infos seitens WM.
Gestern hatte ich so ein ein Hass auf Shorties…

[kurssprung]

gestern bei 3,84 ausgestiegen - heute evtl. neuer kauf bei 3,50 - 3,60!

[humm]

http://www.reuters.com/article/businessNews/idUSBNG248031200…

Wed Jun 25, 2008 4:59am EDT

>>WaMu may avoid more capital raise: Bove

(Reuters) - Washington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz) may be able to withstand estimated losses of $36 billion and remain in business, and avoid an additional capital raise, said Ladenburg Thalmann analyst Richard Bove, who narrowed his 2008 loss forecast for the thrift.

The largest U.S. savings and loan on Tuesday said its shareholders approved two proposals at a special shareholder meeting that are related to the company's recent $7 billion cash infusion.

Bove said the $7 billion in new funds added to the $3 billion raised in December could cover an estimated $15 billion in pretax losses.

In addition, Washington Mutual has $4 billion in reserves so that from these sources the thrift can cover $19 billion in future estimated losses, he said.

Washington Mutual's pretax, pre-provision earnings over the next three years plus the amount it has on hand at the moment may help it withstand losses of $36 billion and remain in business, Bove said.

Washington Mutual has been one of the hardest hit by losses related to subprime mortgages and other loans.

He said the total estimated losses for the company may be $23.5 billion in the next three years or well below the estimated $36 billion available to cover those losses.

"Net result, the company survives to fight and hopefully win in the next mortgage cycle," he said.

Bove cut his price target on Washington Mutual shares to $5.50 from $10, but maintained his "neutral" rating.

He narrowed his 2008 estimate for the company to a loss of $3.03 per share, compared with his earlier estimate of a loss of $3.61 per share.

For 2009, he now expects a loss of 35 cents a share, compared with his earlier view of a profit of 2 cents a share. He cut his 2010 profit estimate to 20 cents per share from the previous $1.06.

Shares of Seattle-based Washington Mutual closed down 2.7 percent at $5.80 Tuesday on the New York Stock Exchange. They have fallen more than 85 percent from their 52-week high of $44.04 on June 28, 2007.

(Reporting by Dilipp S. Nag in Bangalore; Editing by Vinu Pilakkott)<<

[kurssprung]

gekauft 1 Tranche 290 st. für 3,75... weitere folgen evtl....

hoffen auf bessere zeiten...

[humm]

>>Washington Mutual "equal weight," target price reduced
11:08a.m. - Lehman Brothers

NEW YORK, June 24 (newratings.com) - Analysts at Lehman Brothers reiterate their "equal weight" rating on Washington Mutual Inc (WM). The target price has been reduced from $27.25 to $10.<<

[humm]

>>WaMu may face $30 bln credit losses through 2011: Lehman
Tuesday June 24, 11:52 am ET

(Reuters) - Washington Mutual Inc (NYSE:WM - News) may set aside as much as $30 billion for credit losses through 2011, according to Lehman Brothers Inc analyst Bruce Harting, who increased his forecast for losses this year at the largest U.S. savings and loan.<<

http://biz.yahoo.com/rb/080624/washingtonmutual_research_leh…

[humm]

habe weitere 600 St gekauft...

[wgumcd]

WaMu Raises Bet on Blemished Borrowers by Offering Credit Cards

By Ari Levy
June 24 (Bloomberg) -- Washington Mutual Inc., burned by subprime mortgage losses, has been issuing credit cards to borrowers with blemished credit records as it tries to rebound.

Washington Mutual, the biggest U.S. savings and loan, moved into credit cards in 2005 with the $6.45 billion takeover of Providian Financial Corp. It has since increased accounts 56 percent to 14.7 million as of February while running up the highest proportion of overdue loans among the top 15 providers, according to data compiled by trade publication Nilson Report.

Shareholders vote today on whether to approve the bailout plan from U.S. private-equity firm TPG Inc. after $9.1 billion of losses and writedowns from bad mortgages. The company's push into credit cards occurs as the industry's uncollectible debts climb at a faster pace than during the past two recessions. Investor David Dreman called last week for the ouster of Chief Executive Officer Kerry Killinger, blaming him for the 85 percent drop in Washington Mutual shares in 12 months.

``Lower earnings in the credit-card business are going to compound their earnings issues,'' said Moshe Orenbuch, an analyst at Credit Suisse Group in New York, who has a ``neutral'' rating on Washington Mutual.

The Seattle-based lender, known as WaMu, said in its annual report that it seeks customers who ``are often underserved by large prime/superprime-oriented credit-card issuers and who satisfy its underwriting criteria.'' That's somewhere between subprime and prime markets, according to Nilson publisher David Robertson.

Economy Matters

``When the economy starts to sour, that group is going to go belly-up faster,'' Robertson said from his office in Carpinteria, California.

Washington Mutual spokesman Alan Elias said the bank has taken a ``very prudent, fiscally conservative'' approach to the business and is not a subprime credit-card company. Bad subprime loans helped trigger the global credit crunch, which has caused $397.7 billion in losses and writedowns at the world's biggest financial companies, data compiled by Bloomberg show.

Of the 15 biggest card issuers, Washington Mutual had the most loans overdue for more than 30 days at 6.5 percent, compared with 5.3 percent in 2006, Nilson said. Killinger said in April that the company is reducing its risk by scaling back broad promotions and focusing on existing retail customers.

Washington Mutual was the eighth-biggest U.S. credit-card provider in 2007 with $27.2 billion in loans outstanding, according to the Nilson Report. Bank of America Corp. in Charlotte, North Carolina, was first at $164.2 billion followed by New York-based JPMorgan Chase & Co., Citigroup Inc. and American Express Co.

Profitable Cards

Washington Mutual added more than 666,000 card customers in the first quarter, with 38 percent coming from the bank's retail locations. The company is projecting credit losses of 9.5 percent to 10.5 percent this year based on an unemployment rate of 6 percent, Chief Operating Officer Stephen Rotella said in April. The jobless rate was 5.5 percent in May.

The card unit is profitable, with net income dropping to $199 million in the first quarter from $249 million a year earlier. The subsidiary's net interest income, or revenue from borrowers after deducting interest paid to depositors, rose 19 percent in the first quarter to $765 million, helped by an $85 million gain from Visa Inc.'s initial public offering.

That may reverse as uncollectible loans, or charge-offs, increase. Friedman, Billings, Ramsey Group Inc. analyst Scott Valentin predicted in a June 17 report that industry charge-offs may reach the highest since 1985.

Mortgage Outlook

``Credit cards are just a business we wouldn't go into at this point,'' said Dreman, whose Dreman Value Management LLC in Jersey City, New Jersey, owns 28.8 million Washington Mutual shares among its $15 billion in assets under management. ``They're up to their necks in everything bad.''

Washington Mutual has forecast mortgage-related losses through 2011 of as much as $19 billion. UBS AG analyst Eric Wasserstrom in New York said the number will reach $21.7 billion as foreclosures increase. The housing crisis has already forced the company to raise $7 billion from Fort Worth, Texas-based TPG, cut its dividend twice and strip Killinger of his position as chairman.

The bailout from TPG, led by David Bonderman, requires shareholders at today's special meeting in Seattle to vote on two proposals. The first would permit the conversion of preferred shares and warrants into common stock and the second would allow those securities to be exercised. The result may be a 48 percent dilution of the stake held by current investors, according to Gary Gordon, an analyst at Portales Partners LLC in New York.

TPG spokeswoman Marzena Jablonska declined to comment.

``We would hope that if they were to do this credit operation that they would do it with an eye toward the risk that's involved,'' said Chris Armbruster, an analyst at Al Frank Asset Management in Laguna Beach, California, which owned 117,000 WaMu shares at the end of March. ``Good credit-card companies like American Express have proven that it is a profitable business overall.''

To contact the reporter on this story: Ari Levy in San Francisco at [e-mail].