Swiss stocks fell for a second day, their first back-to-back losses this month, as Nestle (NESN) SA retreated after reporting slower growth in sales.
Nestle, which makes up 21 percent of the benchmark Swiss Market Index by weight, slid 2.6 percent after reporting the slowest first-half revenue growth in four years. Adecco SA jumped to a two-year high as the biggest provider of temporary workers posted income that exceeded projections. Transocean Ltd. (RIGN), the largest offshore-rig contractor, added 1.1 percent after posting a second-quarter profit.
The SMI slipped 23.02 points, 0.3 percent, to 7,953.26 at 4:19 p.m. in Zurich. The gauge rallied 2.1 percent last week as the European Central Bank said interest rates will remain low for an extended period of time and the Federal Reserve maintained its monthly bond purchases. The broader Swiss Performance Index lost 0.1 percent today.
��s we get into thinner and thinner trade in this part of the summer, the story will continue to be a tug of war between fundamental data and worries over central-bank stimulus,��Lorne Baring, who helps oversee about $500 million as managing director of B Capital SA in Geneva, said in a telephone interview. ��estle is a giant bellwether which many investors would look at as an indicator of the global picture.��
Hot Cheap Stocks To Own For 2015: CommunityOne Bancorp (COB)
CommunityOne Bancorp , formerly FNB United Corp., incorporated in 1984, is a bank holding company. The Company has two banking subsidiaries: CommunityOne Bank, N.A. (CommunityOne), a national banking association, and through Bank of Granite Corporation (Granite Corp.), Bank of Granite (Granite), a state-chartered bank headquartered in Granite Falls, North Carolina. As of December 31, 2011, CommunityOne had 45 branches, $843.9 million in loans and $1.4 billion in deposits. As of December 31, 2011, Granite had 18 branches, $373.9 million in loans and $688.5 million in deposits. Through its banking subsidiaries, it offers a line of consumer, mortgage and business banking services, including loan, deposit, cash management, investment management and trust services, to individual and business customers through operations located in Alamance, Alexander, Ashe, Burke, Caldwell, Catawba, Chatham, Gaston, Guilford, Iredell, Mecklenburg, Montgomery, Moore, Orange, Randolph, Richmond, Rowan, Scotland, Watauga and Wilkes counties in North Carolina. On October 21, 2011, it acquired Granite Corp., through the merger of a wholly owned subsidiary of the Company, Gamma Merger Corporation, merging into Granite Corp, with Granite Corp. continuing as the surviving corporation and as a wholly owned subsidiary of the Company. On June 8, 2013, CommunityOne Bank, N.A., the principal bank subsidiary of FNB United Corp. announced that it had completed the merger of its sister bank, Bank of Granite, into CommunityOne.
Lending Activities
The Company's loan portfolio segments are commercial and agricultural, real estate - construction, real estate - mortgage, and consumer loans. The commercial and agricultural portfolio includes owner occupied and non-owner occupied. The real estate - construction portfolio includes retail properties, multi-family, industrial and warehouse, and other commercial real estate. The real estate - mortgage portfolio includes one-to four-family residential and commercial and othe! r. As of December 31, 2011, its total loan portfolio totaled $1.2 billion.
Investment Activities
The Company�� available-for-sale investment securities portfolio includes obligations of the United Sates treasury and government agencies, obligations of the United Sates government sponsored agencies, obligations of states and political subdivisions, residential mortgage-backed securities- (government-sponsored enterprise (GSE)), residential mortgage-backed securities-(Private), and corporate notes. As of December 31, 2011, it no longer had securities in the held-to-maturity portfolio.
Sources of Funds
Traditional deposit accounts are the primary source of funds for the Company. As of December 31, 2011, deposits totaled $2.1 billion, consisting of approximately $234.6 million of non-interest-bearing demand deposits, $349 million of interest-bearing demand deposits, $68 million of savings deposits, approximately $431.7 million of money market deposits, $112 million of brokered deposits, $538 million of time deposits less than $100,000, and $398 million of time deposits $100,000 or more. As of December 31, 2011, it had $8.8 million of total short-term borrowings. As of December 31, 2011, its long-term debt included $58 million of Federal Home Loan Bank (FHLB) advances and $56 million of junior subordinated debt. Funds are borrowed on an overnight basis through retail repurchase agreements with bank customers and federal funds purchased from other financial institutions. Retail repurchase agreement borrowings are collateralized by securities of the United Sates Treasury and the United Sates Government agencies and corporations. As of December 31, 2011, CommunityOne and Granite had no lines of credit at the Federal Reserve Bank. As of December 31, 2011, CommunityOne had an available line of credit of $80.5 million with the FHLB and Granite had no line of credit with the FHLB.
Subsidiary Activity
CommunityOne owns three subsidiari! es, which! include Dover Mortgage Company (Dover), First National Investor Services, Inc. and Premier Investment Services, Inc. (Premier). Dover ceased operations during the year ended December 31, 2011, and filed for Chapter 11 bankruptcy on February 15, 2012. First National Investor Services, Inc. holds deeds of trust for CommunityOne. Premier is inactive. Through Granite Corp., it also own Granite Mortgage, Inc., which filed for Chapter 11 bankruptcy on February 15, 2012. FNB also owns FNB United Statutory Trust I, FNB United Statutory Trust II, and Catawba Valley Capital Trust II, which were formed to facilitate the issuance of trust preferred securities.
Advisors' Opinion:- [By Namitha Jagadeesh]
Cobham Plc (COB) retreated 4.6 percent to 272.9 pence, the biggest drop in six months. A shareholder of the world�� largest maker of airborne-refueling kit is selling 39.1 million shares in the company, terms obtained by Bloomberg News show.
- [By Sofia Horta e Costa]
Cobham Plc (COB), the world�� largest maker of airborne refueling kits, tumbled 4.6 percent to 272.9 pence. An investor, who was not named, was sold 39.1 million shares at 273.5 pence to market price, according to terms obtained by Bloomberg News.
Top 5 Bank Companies To Invest In 2014: Woori Finance Holdings Co Ltd (WF)
Woori Finance Holdings Co., Ltd., incorporated on March 27, 2001, is a financial holding company. The Company serves over 24 million corporate and retail customers with a range of financial services, including commercial banking, credit card, capital market, international banking, wealth management and bancassurance services. The Company�� domestic network consists of more than 1,300 branches and 8,500 cash terminals. Its banking subsidiaries include Woori Bank, Kwangju Bank and Kyongnam Bank. Its non-banking subsidiaries include Woori Investment & Securities, Woori AVIVA Life Insurance, Woori CS Asset Management, Woori Financial, Woori Finance Information System, Woori F&I and Woori Private Equity.The Company established a new wholly owned subsidiary, on March 16, 2011. The new entity is mainly engaged in banking business.
The Company�� products in retail banking include Low-Carbon Green Deposit, Mommy Relief Deposit, Plus Savings Deposit, Plus Revolving Time Deposit, Solid Success Time Installment Deposit and Happy Time Installment Deposit. Mommy Relief Deposit facilitates response to locate missing children; the fingerprints of children under 10 are digitally recorded by the bank and made instantly available nationwide if the child should go missing. Plus Savings Deposit is a fixed-interest installment-based time deposit account that offers preferential rates to customers who also apply for credit card products. It also provides bonus services for special occasions and foreign travel. Plus Revolving Time Deposit is a compound-interest time deposit especially for customers who want to access their funds in under three months. Solid Success Time Installment Deposit is a time installment deposit product for business owners. It offers a sliding scale of interest rates if the customer purchases additional products, such as a retirement annuity. Happy Time Installment Deposit is a fixed-interest time installment deposit account for individuals. It also provides extra services for occasio! ns, such as weddings, overseas trips and the birth of a child.
The Company provides one-stop services to corporate clients through joint account management by Woori Bank, Woori Investment & Securities, Woori CS Asset Management and Woori Private Equity. It also carries out various sales and marketing activities to promote its products and services to domestic companies of all sizes. The Company supports small and medium-sized enterprise (SME). In addition to financial products, it also provides professional consulting services. Woori Bank ahs developed the Woori Robot Era Loan and Woori Green Solar Loan. To help family-owned businesses, Woori Bank operates the Woori Family Business Succession Consulting program.
Woori Bank has an investment banking firm in Hong Kong. Woori Financial Group acts as a developer of client specific derivatives. Woori Bank acts as a dealer in overseas index products, including NIKKEI and HSCEI-indexed derivatives. The Bank also sells comForex, combining F/X and spot transactions. As of December 31, 2009, the Company had 9.3 million cardholders. Woori Financial Group provides its private banking clients with financial solutions. Woori Bank has consulting centers for private banking customers, which offers advice on taxes, real estate, asset management, overseas investments and financing solutions for emigrants and students studying abroad.
The Company provides wealth management solutions for its customers. Octo is the name of Woori Investment & Securities wealth management service for high-networth individuals. Octo customers can use a single platform to buy and sell equity-linked securities, bonds, repurchase agreements, bills and beneficiary certificates, and access their cash management accounts. The Company provides professional advice and a range of consumer insurance products to its clients. It offers a portfolio of 61 insurance products, which includes 35 life insurance, and 26 property and casualty. Woori CS Asset Management has! one exch! ange traded funds and 63 other products, including structured products, overseas asset funds and index funds.
Woori Finance Information System has developed integrated customer relationship management (CRM) and Groupware systems, information technology (IT) systems for Woori Bank�� overseas branches and a credit risk management system for Woori Investment & Securities. The Company also deployed a standardized asset & liability management system and an imaging system for managing utility bill payments. The Company has also integrated the IT infrastructure of Woori CS Asset Management, Woori AVIVA Life Insurance and Woori Financial into its system.
Advisors' Opinion:- [By Holly LaFon]
Question: Is Berkshire too big to fail? How about DF and how does it impact insurance and Wells Fargo (WF) and Goldman Sachs (GS)?
Warren: It won�� affect it to my knowledge. Capital ratios for long banks at high levels and affects return on equity. Cap ratios increase and return on equity will increase. Banking in the U.S. is stronger than in the past 20 years. Compared to the EU or 20 years ago, it�� dramatically stronger. Don�� worry about banking being the cause of the next bubble. Usually we don�� get to a bubble the same way we got to the last one. I feel good about our investments at MNT and WFC. We won�� earn as much return on equity because the rules change.
- [By Holly LaFon]
Question: Is Berkshire too big to fail? How about DF and how does it impact insurance and Wells Fargo (WF) and Goldman Sachs (GS).
Warren: It won�� affect it to my knowledge. Capital ratios for long banks at high levels and affects return on equity. Cap ratios increase and return on equity will increase. Banking in the U.S. is stronger than in the past 20 years. Compared to the EU or 20 years ago, it�� dramatically stronger. Don�� worry about banking being the cause of the next bubble. Usually we don�� get to a bubble the same way we got to the last one. I feel good about our investments at MNT and WFC. We won�� earn as much return on equity because the rules change.
Top 5 Bank Companies To Invest In 2014: Orange County Business Bank (OCBB)
Orange County Business Bank is Orange County's elite full-service commercial bank. The Company is a capitalized bank in Southern California.
The Company is serving the needs of businesses and professionals throughout Orange County. It offers relationship banking services for locally owned and operated businesses, professional practices, and commercial/industrial companies in Orange County and adjacent markets.
Advisors' Opinion:- [By CRWE]
Today, OCBB remains (0.00%) +0.000 at $7.15 thus far (ref. google finance Delayed: 2:07PM EDT August 1, 2013).
Orange County Business Bank previously reported financial results for the three months and six months ended June 30, 2013.
The Bank�� net income for the three months ended June 30, 2013 was $204 thousand versus a net loss of $47 thousand for the same period in 2012. The Bank reported net income for the first six months of 2013 of $649 thousand versus a net loss of $126 thousand for the same period in 2012.
The Bank�� net interest income for the three months ended June 30, 2013 was $1.4 million versus $1.1 million a year ago. The difference of $300 thousand in net interest income was primarily driven by an increase in the total loans outstanding. Net interest income for the six months ended June 30, 2013 was $2.6 million versus $2.4 million for the same period in 2012. The difference of $200 thousand was due to an increase in the total loans outstanding. The Bank continues to aggressively push into established and successful markets to develop profitable relationships. This push has resulted in the growth of loans, deposits and net interest income
Top 5 Bank Companies To Invest In 2014: Deutsche Bank AG (LBND)
Deutsche Bank AG is a global investment bank. The Company offers a variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. The Company operates through such divisions as: Private and Business Clients, Asset and Wealth Management, Corporate Banking and Securities, Global Transaction Banking and Non-Core Operations Unit. Deutsche Bank AG is active domestically and in various countries, through the network of numerous branches. In February 2014, the Company and its related bodies corporate ceases to a share holder in the capital of the Company. Advisors' Opinion:- [By Donald van Deventer]
Long-duration Treasury Exchange-Traded Funds: (TLH), , (IEF), (DTYL), (DLBL), (ILTB), (TENZ), (ITE), (TLO), (EDV), (VGIT), (VGLT), (TMF), (TYD), (LBND), (UBT), (UST), (TMV), (TYO), (DSTJ), (DSXJ), (SBND), (PST), (DTYS), (DLBS), (TBF), (TTT), (TYNS), (TYBS), (TBX).
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