Meredith Whitney Said Core Earnings Power for Banks is Negligible; Would Short Retail and Con Discretionary
More News related to RTH
- Raymond James Starts Gap, Aeropostale at Outperform, A&F, American Eagle at Market Perform (GPS, ARO, ANF, AEO)
- BMO Upgrades J. Crew (JCG) to Outperform
- July Retail Sales Show Unexpected Slump
- Retail Weak On Best Buy Downgrade (RTH)
- Retail HOLDRS (RTH) volatility low into June comp sales report on July 9
More News related to XLF
- Notable ETF Movers *Special Dubai World Edition* 11/27: UUP Higher; GAF, EEM, FXI, XLF Lower
- Financial Select Sector (XLF) volatility low prior to financials selling off on Dubai exposure
- Afternoon ETF Check: SMH Up; XLF, TAN, EWJ Down
- Despite Stabilizing Housing Market, Underwater Mortgages Pose Big Threat
- Notable Midday ETF Movers 11/19: UUP Higher; SMH, XLF, SPY Lower
More News related to XLY
- Meredith Whitney Said Core Earnings Power for Banks is Negligible; Would Short Retail and Con Discretionary
- Consumer Discretionary Sector SPDR (XLY) volatility flat at 46 as ETF rallies
- Consumer Discretionary ETF (XLY) Rips Higher As Investors Bet On Early-Cycle Plays
- Consumer Discretionary Sector SPDR (XLY) volatility Elevated at 78
- ETF Movers 7/28: Financial Select Sector (XLF) Lower, Biotech HOLDRs (BBH) Higher, More...
More News related to Trader Talk
- Bove Says US Banking System, Dollar to Benefit from Dubai Crisis
- GLD Bounces
- Active equity option families in first 30 minutes of trading: C BAC GE AAPL
- CBOE Volatility Index-VIX up 4.03 to 24.51
- UltraShort Gold ProShares (GLL) Up As Gold Is Weaker
On CNBC, bearish banking analyst Meredith Whitney said core earnings power for the banks (NYSE: XLF) is negligible. Meredith said 2010-2011 earnings for the banks will be below consensus.
Meredith also said consumer liquidity will undergo a massive contraction. Meredith would recommend shorting retail (NYSE: RTH) and consumer discretionary (NYSE: XLY).
Related Categories
Insiders' BlogTrader Talk
Stocks Mentioned
-1.10Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
