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VIDEOTicker Shock: McDonald's Satisfies; Caterpillar, Home Depot Get Out the Axe
Monday's top stories and stocks with potential to move.
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Anyone else sick? I’m starting to see more and more people sneezing and coughing (and not so much covering their mouths) and now I’m feeling a little under the weather. I can’t stand this time of year!
Not much action in Asia overnight. The Hang Seng was closed for Chinese New Year. The Nikkei, however, was off less than 1%. Meanwhile, European stocks were showing me some green earlier this morning. Here, in the US we're currently trading higher.
Here's what had my attention on this bitter cold Monday morning:
Barclay's (BCS):
Good news from a player in the banking sector? It seems so! And it apparently came in a letter from company execs, in which the bank said "it will bring forward the release of its results to February 9th and that its income will absorb 8 billion pounds ($10.8 billion) in gross credit-markets writedowns"And the really big kicker: Barclays isn't "seeking subscription for further capital - either from the private sector or from the UK government.”
I think this will be viewed as a positive by the investment community, as it will dispel a great deal of the uncertainty out there. After all, there's been a fair amount of hand wringing that nationalization could be around the corner, and that the end of the world is near.
Does Barclay’s appear as pure as the driven snow? No - but I think this news will give the shares a nice goose in today’s action. A quick gander at a 12-month chart shows clearly that investors could use a bit of positive news.
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