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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (9623)	5/22/1998 1:33:00 PM
From: Jenna	Read Replies (1) \| Respond to of 120523

BMO, RY, BNS Going through next weeks earnings.. Not a whole lot of possibles,but what caught my eye were the number of Canadian Banks reporting. I've played these banks two quarters ago very successfully. Now we have RY reporting on 5/28 as well as BMO. BNS reports May 26th. If you search you will find good trading stocks in this market. You have to just be aware of slump in tech stocks margins especially the semiconductor sector. Day trades are still fine and stocks such as LOW,ROST,DH,TLB are still making good gains. Here is an article I turned up while researching these banks: Canadian banks seen turning in solid Q2 earnings By Jeffrey Hodgson TORONTO, May 22 (Reuters) - Canada's biggest banks are expected to report a solid string of second-quarter profits starting on Tuesday, with a rebound in the stock market helping to boost earnings. Analysts said the country's Big Six banks have probably seen profit gains on two fronts. While a steady North American economy supports their core lending business, the brokerage arms of the banks are also getting a boost from stronger financial markets. "Second-quarter earnings will be relatively strong. I expect them to be up about 12 percent from a year earlier. Asset growth, loan growth is expected to remain healthy," said Kevin Choquette, banking analyst with Levesque Beaubien Geoffrion Inc. "There may be continued pressure on retail margins, but capital markets (revenues) are expected to be strong, and up a bit from the first quarter," he said. The second-quarter reporting season for Canadian banks will likely kick off in the early morning hours of May 26, when Bank of Nova Scotia <BNS.TO> announces its results. Scotiabank, which bills itself as Canada's most international bank, is holding this year's board meeting in Singapore. Because of the time difference, the bank's earnings are likely be released in the middle of the night in North America. Royal Bank of Canada <RY.TO> and Bank of Montreal <BMO.TO>, which proposed merging in January, will report earnings the same day. They will be followed on May 28 by Toronto-Dominion Bank <TD.TO> and National Bank of Canada <NA.TO>, the smallest of Canada's Big Six banks. Canadian Imperial Bank of Commerce <CM.TO>, which has proposed merging with TD Bank, will close out he reporting season on June 4. Analysts said the Big Six will probably exceed their collective first-quarter profits of almost C$1.89 billion. Bank profits should "be better than the prior quarter as trading revenues rebound and the banks benefit from robust capital market activities in North America," Nigel Dally, a New York-based bank analyst with Morgan Stanley Dean Witter wrote in a commentary. The largest Canadian banks each own one of the country's major brokerages, and the rebound in financial markets during the quarter likely meant more underwriting and other related business. When the banks' reported first-quarter earnings three months ago, analysts noted profits were hurt by a fall-off in stock and other financial markets. But the benchmark Toronto Stock Exchange 300 jumped 14.4 percent during the banks' second fiscal quarter, rising from 6700.20 on January 30 to 7,664.99 on April 30. Dally said increased volatility in currency markets during that period also likely boosted the banks' trading revenues. A survey of analysts by New York-based First Call found Scotiabank was expected to report second-quarter earnings of C$0.64 a share, up from C$0.58 a year earlier adjusted for a stock split. Royal Bank is expected to report second-quarter earnings of C$1.35 a shares, up from C$1.20 a year earlier. Bank of Montreal is seen reporting a profit of C$1.23, up from C$1.11. TD Bank is seen reporting earnings of C$0.95 a share, up from C$0.76, while Quebec-based National is seen reporting earnings of C$0.53 per share, up from C$0.44 a year earlier. CIBC is expected to report profits of C$0.88 a share, up from C$0.84 a year earlier.