I have been talking for a time about the US Gov buying its own debt. I do not think they will stop with the QE. They cant. They cant because they will not be able to keep the lights on for one, but also because they cant allow a major financial institution to fail or we have global dominoes and a collapse of the financial system. What does that mean? Hyperinflation at some point. I sure hope you have taken measures to protect yourself. I have and sleep well at night. Hedge manager Sprott sees trouble when easing ends US government is new “dead man walking”, investor says By Alistair Barr, MarketWatch NEW YORK (MarketWatch) – When so-called quantitative easing by central banks ends, the world economy may slip back into trouble, Canadian hedge fund manager Eric Sprott ...

BB&T Corporation’s (BBT) third quarter earnings of 23 cents per share were in line with the Zacks Consensus Estimate. However, this compares unfavorably with earnings of 65 cents in the year-ago quarter. The year-over-year decrease in earnings was due primarily to a 94.8% increase in provision for credit losses and other costs related to the credit environment. However, strong growth in revenue, net interest margin and non-interest-bearing deposits were impressive during the quarter. The quarter was also characterized by strong capital levels, increased production in mortgage banking operations and strong growth in commercial loans as well as low-cost client deposits. The results were also positively impacted by the Colonial acquisition. On Aug. 14, BB&T assumed all of the deposits and certain assets of Colonial Bank (Colonial) after it was seized by regulators. This is the biggest acquisition in BB&T’s history, creating the nation's eighth-largest financial ...

U.S. Bancorp (USB) has signed a deal with BB&T Corp. (BBT) to acquire the latter’s banking operations in Nevada . As per the agreement, U.S. Bank National Association, U.S. Bancorp’s lead bank, will purchase about $800 million in deposits and certain branches of BB&T’s Nevada banking operations.   The deal is subject to regulatory approval and is expected to close in early 2010. The acquisition involves deposits of those branches that BB&T had recently acquired from the Federal Deposit Insurance Corporation (FDIC) as receiver for Colonial Bank.  The purchase will fortify U.S. Bancorp’s business in Nevada . The company expects this acquisition to meet or exceed the company’s internal rate of return and earnings per share accretion targets.  Last week, US Bancorp has announced that its lead bank, U.S. Bank, has agreed to buy the bond trustee business of First Citizens Bank, a subsidiary of ...

Based on a ranking analysis released on Wednesday by Virginia-based research firm SNL Financial, Bank of America Corporation (BAC) still remains the highest ranked banking institution in U.S. by second-quarter total assets. The analysis was based on the filings of Federal Deposit Insurance Corporation (FDIC). According to the filing, as of June 30, 2009, Bank of America has total assets of $2.3 trillion and total deposits of $971 billion.   Earlier this week, Bank of America offered to repay a part of the $45 billion it had received from the U.S. government in relation to its participation in the Troubled Asset Relief Program (TARP). Also, the repayment offer was aimed to end a loss-sharing deal with the government related to its acquisition of Merrill Lynch & Co. The completion of the payments would enable Bank of America to reduce part of government involvement in its affairs....

U.S. banks are going bad as quickly as a bunch of over-ripe peaches in the summer heat. On the heels of the Colonial Bank failure comes another sizable bank failure.

Guaranty Bank in Texas became the 81st U.S. bank to fail this year. It was the 11th largest bank failure in U.S. history. This kind of thing is becoming so regular it is hardly news when it happens.

But what’s interesting to point out about this one is that the FDIC sold Guaranty to Banco Bilbao Vizcaya Argentaria of Spain. This is the first time regulators have sold a failed bank to a foreign lender. Such a turn of events would have been unthinkable only a decade ago.

So the world turns. When it comes to the question of who has the money, it’s often a non-U.S. buyer these days.

Speaking of foreign buyers, there is probably no group of buyers more watched and

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Three more U.S. banks failed; tally reaches 84 this year Bank failures continue unabated as U.S. regulators on Friday closed down three more banks in California, Maryland and Minnesota. This takes the total number of failed federally insured banks this year to 84, compared to 25 in 2008 and 3 in 2007. The failed banks were Ventura, California-based Affinity Bank, with about $1 billion in assets and $922 million in deposits; Baltimore-based Bradford Bank, with $452 million in assets and $383 million in deposits; and Forest Lake, Minnesota-based Mainstreet Bank, with $459 million in assets and $434 million in deposits. Failure of these banks represents another sizable impact on the Federal Deposit Insurance Corporation’s (FDIC) fund for protecting customer accounts, as it has been appointed receiver for these banks. The failure of Affinity Bank is expected to cost the deposit insurance fund an estimated $254 million; ...

Deutsche Bank Securities Inc., the New York unit of Germany's Deutsche Bank AG (DB), has a $42 million unsecured claim against mortgage lender Taylor, Bean & Whitaker Mortgage Corp. Taylor Bean filed for Chapter 11 bankruptcy protection on August 24 as it was forced to shut its mortgage lending operations on August 5. The filing in the U.S. Bankruptcy Court listed the claim as disputed and ranked it as the largest unsecured claim against Taylor Bean. Taylor Bean said the claim was related to Ocala Funding, an entity set up by Taylor Bean to borrow money for short periods to fund home loans. The filing also listed a $9 million claim from James G. Hicks of Lawrenceville related to money owed for the acquisition of a mortgage company made by Taylor Bean. The company said approximately 100 Taylor Bean bank accounts were frozen by Colonial ...

Yesterday, Taylor, Bean & Whitaker Mortgage Corporation filed for Chapter 11 bankruptcy protection after it was forced to shutter its mortgage lending operations earlier this month. The Ocala, Florida-based company had captured 1.7% market share nationwide by creating $17 billion of mortgage loans from January to June, 2009. On that basis, it was the 12th largest mortgage lender in the U.S. Taylor was also one of the largest U.S. home loan providers not owned by a large bank. As a result, there was lack of significant amount of deposits that could help cushion its capital position in the troubled market environment. The company filed for bankruptcy due to recent actions taken against it by the Department of Housing and Urban Development, and mortgage financiers Freddie Mac (FRE) and the Government National Mortgage Association (Ginnie Mae). Further, the negative developments at Taylor were related to ...

For Immediate Release

Chicago, IL – August 25, 2009 – Zacks Equity Research highlights Transcept Pharmaceuticals (TSPT) as the Bull of the Day and Nabors Industries (NBR) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Guaranty Financial Group Inc. (GFG), Banco Bilbao Vizcaya Argentaria (BBVA) and BB&T Corporation (BBT).

Full analysis of all these stocks is available at http://at.zacks.com/?id=2676

Here is a synopsis of all five stocks:

Bull of the Day:

We recently initiated coverage of Transcept Pharmaceuticals (TSPT) with an Outperform rating and $12 price target. We think Intermezzo is a product that can fill a much needed void for insomnia patients with chronic nocturnal awakenings.

An FDA decision on the pending new drug application is expected in late October 2009. We think approval is a high likelihood event at that time.

With the commercialization

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PennyOmega.com Stock Report!

PennyOmega.com Hot Stock News & Alerts!

 

Thursday August 20, 2009

PennyOmega.com Stock Report!

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Medis Technologies (Nasdaq: MDTL) today announced that, subsequent to its notification by Nasdaq that Nasdaq considers Medis to be out of compliance with various Nasdaq requirements including the maintenance of certain levels of net worth, Medis’ common stock will be delisted from the Nasdaq Global Market effective at the open of business tomorrow and is expected to be quoted on the Pink Sheets beginning at the opening of the market tomorrow. The ticker symbol will remain the same: MDTL.

The LGL Group, Inc. (NYSE Amex: LGL), today announced results for the quarter ended June 30, 2009. LGL is the holding

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