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State Street Corporation Message Board

  • smisoltr06 smisoltr06 Dec 11, 2009 12:41 PM Flag

    where is STT heading?

    been watching STT head straight down from $55 two months ago before earnings release. after touching $40 two weeks ago it went to $43.50 before tanking $4 including today's action. I have not been able to find any news on STT that would explain this drop today. Can anyone lend any advice? Thanks.

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    • Hi xxu,



      BOSTON (MarketWatch) -- Keefe, Bruyette & Woods on Friday upgraded shares of Northern Trust Corp. and State Street to outperform from market perform.

      Also, KBW lowered its price target on Bank of New York Mellon Corp. "Heading into 2010, we expect each of the trust and custody banks face lackluster revenue trends as a result of the low interest rate environment, pressure on transaction-based revenues and generally more modest levels of activity," the analysts wrote in a research note. "However, we believe longer-term secular trends remain favorable and Northern Trust and State Street are attractive for patient investors and thus raise our rating on each."

    • Hi xxu,

      I think the core business is very sound. Also, I believe the lawsuit is a political joke.


    • STT, would be in a consolidation phase, although they have hit a few bumps in the road, consider the fact it is the end of the year and traders are conserving their gains for the year and pressuring the stock.....that being said, it has dropped below the 40 dollar support level and could slide a bit further by a dollar or two, consider it a good buying point I really don't see to much further downward momentum, I own STT and have been adding to my position below 40.....BTW there is a good positive read in Barron's today on page 40......Good Luck.....

      • 1 Reply to harvardfas
      • I have to say that I am impressed with the level of knowledge people have on here. was wondering if anyone would dare take a stab at what can be expected from the financials reporting in January. Looking at STT it took off last Quarterly earning season which started with GS, JPM etc. And it rose to above $55 before STT even reported. But once it reported, it was straight down. Anyone expect banks earnings to outpace Q3? I mean, the banks have been dead money for the past 2 months, very tight trading ranges and no real momentum to the upside. Can earning spark another run in the financials? I think that STT might benefit from another run up. Anyone's thoughts?

    • Hi smiso,

      Clearly, the stock price is being manipulated (driven down) by some large institutions. This is an unethical, if not illegal practice (where is Obama's SEC on this?), that creates panic in the minds of many investors.

      Eventually, the stock will be terribly oversold and those persons behind this will be forced, by market events along with the natural economic laws of supply and demand, to disengage or help push the stock price back up to the $50 per share area (where the price ought to be).

      In the meantime, unfortunately, some folks will panic and take heavy losses on the stock. The best strategy, at this time, is to hold and even buy, if an investor has available cash.

      The 2009 4Q earnings report can go a long way to restoring confidence, if it meets market expectations. In the long run, it is EARNINGS that make the stock.


      • 1 Reply to tombardux
      • State Street Receives InfoWorld 100 Award for Information Technology Leadership
        Honored for Successful Company-wide IT Infrastructure Innovation Initiative

        Press Release
        Source: State Street Corporation
        On 2:00 pm EST, Friday December 11, 2009

        BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT - News), one of the world’s leading providers of financial services to institutional investors, announced today that International Data Group (IDG)’s InfoWorld magazine has named the company as one of the top 100 organizations for IT excellence for 2009.

        Related Quotes
        Symbol Price Change
        STT 39.40 -1.16

        The InfoWorld 100 Awards annually recognize the 100 most innovative uses of IT initiatives to further business goals. State Street received the InfoWorld 100 award for a company-wide IT infrastructure initiative called “Six Dimensions of Infrastructure Innovation/Transformation” that resulted in improved performance and reduced costs. The project formalized key principles, tools and techniques for IT infrastructure optimization and applied them to technology projects worldwide, allowing State Street to substantially improve infrastructure performance while reducing unit costs.

    • There are no buyers. Institutions won't start buying until January and small investors get in- get burned and get out never to come back to STT again. Analysts like STT because of the low multiple but how reliable is it with lawsuits hanging over the earnings? There is chatter again about commercial real estate collapse next year which also ways down on the stock. The stock offering back in May was at $39.00. I am guessing a bunch of those were dumped back the last couple of months. I thought that was over but apparently not. The good news is that if a big buyer starts buying- the stock will shoot up real fast. So far though- no sign of big buyers interested. Maybe they know something that isn't in the news yet.

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