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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (12602)	12/7/2007 9:42:01 AM
From: Smiling Bob	Read Replies (1) \| Respond to of 19256

MA mastercard- debated yesterday whether to add puts here or COF yesterday. Another costly blunder. Very hard to keep on top of what I need to while continuing to operate store. --- Ahead of the Bell: Capital One Financial Friday December 7, 9:12 am ET Analysts Cut Ratings on Capital One As Co. Seen Facing Larger-Than-Expected Peak Card Losses NEW YORK (AP) -- Shares of Capital One Financial Corp. tumbled in premarket trading Friday as a pair of analysts cut their ratings on the credit card issuer and bank. Shares of Capital One fell $3.43, or 6.5 percent, to $49 premarket. Shares have traded between $47.91 and $83.84 during the past year. Morgan Stanley Kenneth Posner lowered his rating to "Underweight" from "Overweight" citing a downturn in the credit market that he said will be worse than investors anticipate. He also lowered his price target to $45 from $88. Posner estimates credit card losses will peak at 6.5 percent, while investors currently expect a range of 5 percent to 5.5 percent. The increase in losses will likely be tied to rising unemployment through 2008 and 2009 and a recent increase in bankruptcy filings, Posner wrote in a research note. Based on increases in charge-offs -- loans written off as not being repaid -- Posner anticipates Capital One will earn $7.04 per share in 2008 and $6.33 per share in 2009. Posner expects charge-offs for auto, credit card and bank loans to rise over the next two years and credit card losses to peak in 2009. On average, analysts polled by Thomson Financial expect income of $7.29 per share in 2008 and $8.32 per share in 2009. Meanwhile, Merrill Lynch analyst Kenneth Bruce downgraded Capital One to "Sell" from "Neutral."