AMSTERDAM, NETHERLANDS–(Marketwire – Jan. 29, 2013) - Icron Technologies Corporation, a leader in USB and KVM extension technology, is pleased to announce that syscomtec Distribution AG, specialists in visualization technologies, signal management and control in the field of professional audio-visual media, is the first European distributor to carry Icron’s USB 3.0 SpectraT 3022 extender and will have it on display at Integrated Systems Europe (ISE) 2013 in Amsterdam, January 29-31.
Category : World News
SAMVRIDDHI got the mandate for creating 65Customer Service Points (CSPs) from a Regional Rural Bank (SKGB) sponsored by StateBank of India, the largest commercial Bank in India in the State of Bihar,India.
The Bank has also mandated SAMVRIDDHIto create 22 Ultra Small Branch (USB) out of 65 CSPs as per the Government ofIndia guidelines to distribute various subsidies granted to the Bottom of thePyramid people through these USBs. Besides, there are at least 32 schemes wherethe benefits are to be transferred to the beneficiaries and adoption ofelectronic benefit transfer would greatly enhance the efficiency of suchtransfers, besides reducing the scope of malpractices. In this project, theBank has provided Financial Inclusion software taken from ‘c-edge’, a Technology outfit jointly promoted by State Bank of India and TCS (TataConsultancy Services).
See the original post: JZZ Technologies, Inc. (JZZI: OTC Link) | New Banking Mandate From Regional Rural Bank
Jim Cramer says he is concerned that earnings from the industrial, financial, energy, and tech sectors will probably be weak.
The rest is here: Cramer: Expect A Tough Earnings Season
Lindsey Bell and Scott Redler, chief strategic officer at T3Live.com, reveal how to trade stocks on Wednesday’s news.
Excerpt from: Europe Squashes Oversold Bounce
NEW YORK (TheStreet) — Commerce Bancshares was the winner among the largest U.S. financial names on Tuesday, with shares rising 2% to close at $40.45.
The broad indexes all pulled back as investors fretted over events in Europe, as Greece’s conservative New Democracy party failed to form a new government after winning the most votes in Sunday’s election. A failure to form a new government willing to cooperate with the austerity measures required under the European bailout deal increase the likelihood of Greece defaulting on its debt and exiting the euro.
The KBW Bank Index declined 1% to close at 47.24, with 21 of the 24 index components showing declines. …
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Go here to see the original: Commerce Bancshares: Financial Winner
NEW YORK (TheStreet) — CHANGE IN RATINGS
Blackstone was initiated with a Buy rating at Stifel Nicolaus. $20 price target. Alternative investment strategies continue to attract assets, Stifel Nicolaus said.
CH Robinson was upgraded at Deutsche Bank from Hold to Buy. Valuation call, based on a $79 price target, Deutsche said.
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NEW YORK (TheStreet) — With expectations of strong mortgage banking results, continued commercial loan growth and improvement in consumer credit, Morgan Stanley analyst Betsy Graseck on Monday listed five favored bank stocks.
Citing Federal Reserve data “which reflects C&I growing +12% y/y and +15% q/q in most recent week, along with other improved economic indicators, a domestic market share grab by U.S. banks from European banks pulling back, along with “excess capital and liquidity at select banks, and an increased willingness to lend,” Graseck said that Morgan Stanley favored four super-regionals, heading into earnings season, including U.S. Bancorp , PNC Financial Services Group , BB&T and Wells Fargo ,” and also listed Capital One as favored, among credit card lenders.
Graseck also expects investment banking fees to rebound for the four “Money Center Banks” covered by Morgan Stanley, and estimates that total capital markets volume for the group will rise 14% during the first quarter from the fourth quarter, although the volume will still be down 9% year-over-year:
For Bank of America , Morgan Stanley expects investment banking advisory and underwriting fees to total $1.4 billion during the first quarter, increasing 33% from the fourth quarter, but declining 8% from the first quarter of 2011. Graseck raised here first-quarter earnings estimate for BAC to six cents a share, on lower expected mortgage putback costs. The analyst estimates the company will earn 55 cents a share this year, followed by EPS of 97 cents during 2013. Graseck rates the shares “Equal Weight,” with a $9.00 price target.
Morgan Stanley estimates that Citigroup will report first-quarter investment banking revenue of $1.0 billion, increasing 60% from the fourth quarter, and 20% year-over-year. On March 18, Graseck had raised her first-quarter EPS estimate for Citi to 88 cents from 66 cents, because of the improved capital markets volume, lower credit card loan losses, and “gains in special asset pool on credit spread tightening.” The analyst noted that here estimate excluded “$700m of debit valuation adjustment losses (16c per share) and $1.1b gain on sale of its stake in the Indian lender Housing Development Finance Corp. (24c per share).” Graseck has a neutral rating on Citigroup, with a $42 price target, and estimates the company will earn $3.67 a share this year, followed by 2013 EPS of $4.40.
For JPMorgan Chase , Graseck estimates first-quarter investment banking revenue of $1.7 billion, increasing 49% from the fourth-quarter, but down 7% from a year earlier. Graseck has an “Overweight” rating on JPMorgan, with a $60 price target. The analyst on March 18 raised her first-quarter EPS estimate for JPM to $1.22 from $1.07, on the stronger expected investment banking volume, as well as “stronger mortgage banking origination results driven by higher gain on sale, greater market share given BAC’s pull-back and higher estimated industry-wide origination volumes from refis,” and lower credit card losses. Graseck estimates the company will earn $4.88 a share during 2012, followed by 2013 EPS of $5.63.
Morgan Stanley expects Goldman Sachs to post first-quarter investment banking revenue of $1.1 billion, increasing 26% from the previous quarter, but down 15% from a year earlier. Graseck on March 18 raised her first-quarter EPS estimate for Goldman to $3.25 from $2.16, on stronger underwriting and trading revenues, and “positive marks in the investing and lending segment given rising asset prices this quarter.” Graseck has a neutral rating on the shares, and estimates Goldman will earn $11.10 a share this year, followed by 2013 EPS of $13.21.
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(Updated with Jefferies earnings results)
NEW YORK (TheStreet) — Analysts are beginning to raise estimates for first- quarter earnings for banks as the macro-economic environment improves.
On Thursday, Bernstein Research analyst John McDonald raised earnings estimates for 2012 and 2013 as well as price targets for six banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo.
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View original post here: 3 Things Driving Bank Earnings From Bernstein (Update 1)
NEW YORK (MainStreet) — Banks and credit card issuers may be beefing up their digital offerings, but it’s going to be a long time before the plastic credit card disappears.
While efforts are being made to move away from plastic, consumers are reluctant to adopt mobile payments because they’re unclear of the benefit they provide and security concerns persist. Many people also don’t have the technology — to make mobile payments you need a smartphone or other mobile device equipped with an NFC chip, the mobile equivalent of a credit or debit card’s magnetic strip (which is actually more secure, since the codes associated with them change periodically).
The functionality of credit cards is evolving, even if the plastic itself remains the same.
“To work the average consumer away from their cards is going to take a while,” says JJ Hornblass, executive editor of the blog Bank Innovation. “Plastic works. It’s hard to get consumers to change payment methods.”
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Visit link: The Credit Cards of the Future