It hasn’t been easy being a big bank stock. JPMorgan Chase (JPM) has dropped 23% from its 52-week high, while Citigroup (C) has fallen 21%, and Bank of America (BAC) has declined 20%. The SPDR S&P Bank ETF (KBE) is off 17%. So yes, it’s been bad to be a U.S. bank. But at least they’re not European. The folks at Bespoke Investment Group explain:
timothy a. clary/Agence France-Presse/Getty Images
Everybody knows that banks have been under a world of hurt given the current ultra-low interest rate environment. Pull up a chart of any bank stock and the chart is the same; it starts at the upper left and ends at the lower right. The S&P 500 Bank Index looks the same, and from its high last year, it’s down 20%. From a long-term perspective, the group broke its uptrend line earlier this year, and after a nice rally offthe February lows, banks stalled out right at that uptrend line. From a technical perspective, the group is certainly in a precarious position.
Top 5 Tech Stocks To Buy Right Now: Super Micro Computer, Inc.(SMCI)
- [By Jim Robertson]
On Friday, small cap Super Micro Computer (NASDAQ: SMCI) fell 7.52% after receivingnotification letter from Nasdaq stating that the Company is not in compliance with Nasdaq listing rule 5250(c)(1), which requires timely filing of reports with the SEC. Super Micro Computer isa global leader in high-performance, high-efficiency server technology and innovation, is a premier provider of end-to-end green computing solutions for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and Embedded Systems worldwide. Supermicro’s advanced Server Building Block Solutions庐 offer a vast array of components for building energy-efficient, application-optimized, computing solutions. Architecture innovations include Twin, TwinPro, FatTwin, Ultra Series, MicroCloud, MicroBlade, SuperBlade庐, Simply Double, Double-sided Storage庐, Battery Backup Power (BBP庐) modules and WIO/UIO. Products include servers, blades, GPU systems, workstations, motherboards, chassis, power supplies, storage, networking, server management software and SuperRack庐 cabinets/accessories delivering unrivaled performance and value.
Top 5 Tech Stocks To Buy Right Now: Silicom Ltd(SILC)
- [By Lisa Levin]
Silicom Ltd. (NASDAQ: SILC) shares were also up, gaining 17 percent to $45.45. Silicom reported a major new design win with $17 million in purchase orders.
Top 5 Tech Stocks To Buy Right Now: Turkcell Iletisim Hizmetleri AS(TKC)
- [By Lisa Levin]
In trading on Wednesday, telecommunications services shares slipped by 0.08 percent. Meanwhile, top losers in the sector included Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE: TKC), down 2 percent, and Telefonica Brasil SA (ADR) (NYSE: VIV), down 2.5 percent.
Top 5 Tech Stocks To Buy Right Now: Tencent Holdings Ltd (700)
- [By Belinda Cao]
Sohu.com Inc. (SOHU), which sold a stake in its search unit to Tencent Holdings Ltd. (700), advanced 11 percent for the week to $72.06. It retreated 5.9 percent Sept. 20. Tencent, Chinas biggest Internet company by market value, paid $448 million for a 36.5 percent stake in Sohus Sogou unit last week and merge its own search service with Sogou.
Top 5 Tech Stocks To Buy Right Now: Extreme Networks Inc.(EXTR)
- [By Azam Zariff]
Extreme Networks, Inc. (NASDAQ: EXTR), a communication company, has been on a surge the past year. From the low of $2.32 to high of $8.11 in just over a year, this stock might continue to rise. Besides the strong financials, and positive acquisition news, EXTR current price is testing the high of $8.11 and once the price breaks above $8.11, we can expect the price to surge.