Check it out:
For a great way to watch a
specific industry, go to http://www.wirehouse.com/ and
look on the right hand column for the link to the
banks, fin services, investment, Nasdaq 100, and the
internet stocks (first and second tier). You can see who
is moving and why. The center column has the stocks
on the move. It is up to date even for the recent
IPOs. There is also information on the site about
internet IPO fundamentals. They respond to comments and
suggestions quickly. The searches page has many useful
applications as well.
They are offering free issues
of business magazines such as Forbes, Money,
Fortune, Barrons etc.. to people who visit the site. Just
look on the bottom.
STI won't move again until it has proven to the
market it can digest the Crestar acquisition and the
market rewards STI with a run-up in stock price.
Interesting rumors about NatCity and Key--NCC was rumored to
be looking hard at WB. Check out the WB boards--they
have had a series of senior management changes, with
the speculation that their "top guns" are grabbing
parachutes before selling out.
cause real money would scare me to death. NB
calimed they paid 2.75x book in the propoganda they put
out at the time of the Boatman deal....PR Newswire
also says 2.75. Whatever.... I'll be watching FSR with
greater interest now that you've brought it to our
attention....sounds like a very agressive group with a real mission
on their mind. Ain't it fun! I enjoy and appreciate
dig into the archives, Nations paid over 4x book
for Boatmans. By the way did you see the article in
American Banker where their analyst put a 12 month price
target of $81 on FSR (someone more optomistic than
me!!). I guess a bet for bragging rights only, I'll post
a message as to your superior intellect and insight
if I'm wrong.
I'll stay in touch. Best of
FSR overpaid for MTL....3.4 x book. The bigger St
louis Bank sold for 2.7 x to NB not too long ago..
Aggressive acquirers don't command a very high PE in the
bank business,unless it's a supa deal...this one's
not. When the market figures this out and hammers the
stock, maybe that's when STI or someone else will move
on them..... OK, what's the bet, I'm on>
forget 1999 EPS and concentrate on 2000 when the
old FSR and now the MTL mergers will be in full
effect. I'll make you a friendly wager, FSR will hit 60
by the end of the year (barring a global financial
crisis). If you haven't followed FSR in the past (the old
Star bank) remember they are up over 700% in the last
five years, did a 3-1 split a little over 2 years ago
at 100 and got back there again. The CEO has said he
can make 100 again within two years and I don't doubt
him a bit.
Am I a cheerleader for FSR, you
bet. I worked for a bank that was acquired by Star in
Feb 1998. The deal was announced 9/97 at 44/shr (post
split equivalent of $13 and change).