For Immediate Release
Chicago, IL – July 10, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Citigroup (C), Bank of America (BAC), Wells Fargo (WFC), JPMorgan Chase (JPM) and US Bancorp (USB).
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Here are highlights from Thursday’s Analyst Blog:
CRE Mauling to Continue
Clearly, as more companies downsize and retailers close their doors, small and regional banks may experience substantial risk of severe losses from commercial real estate loans. The pressures are not expected to improve until economic improvements are experienced — specifically, when consumers and businesses start spending money again.
With unemployment hitting 9.5% in June 2009, new construction projects have come to a virtual standstill, which moderates the number of construction jobs that are being worked on and moderates tax revenue for local governments. Currently, the national commercial real estate market is not expected to hit bottom for at least three years.
Recently it was noted that the Federal Reserve has been focusing commercial real estate loans banks’ books as losses from the sector continue to expand. As such, the Fed has expanded its training of its bank examiners in order to be prepared to deal with rising losses from the commercial real estate industry.
While small and regional banks would experience hits, institutions such as (but not limited to) Citigroup (C), Bank of America (BAC), Wells Fargo (WFC), JPMorgan Chase (JPM) and US Bancorp (USB) as well.
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Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
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