Just when you thought it was safe to look at financials again. Today Wachovia handed their CEO, Kennedy Thompson, his walking papers. Speculation is that this signals another quarterly loss for the troubled bank. Thompson was instrumental in growing Wachovia through acquisitions since his tenure started in 2000. Look out below financial sector! Which CEO will be next?
We were so close to a breakthrough just a few weeks ago in the Thoroughbred Folio. We were racing toward the break-even point. Yet here we sit in week 24, down again past the $100 mark. Not a surprise as oil continues to squash the economy. I have taken to riding my bicycle to work so my wife can drive our Honda instead of the Suburban.
There was one dividend this week from Rohm & Haas (ROH), $0.56 vs $0.50 last quarter. Wrigley and Nucor are fighting it out for first place still as Family Dollar takes third. Perhaps the Thoroughbreds know best, as we have seen weakness in our financial stocks for the last few weeks. This week is no exception as Fifth Third and Regions are still dragging. Gannett is the only thing keeping a clean sweep of financials across the bottom.
Next week, I will be traveling to Baltimore for work. I’m not sure if time will permit an update, but I guess we will find out next Monday.
Thoroughbred Performance (Week 24 of 52): $-132.29 (-4.41%) Dividends To Date: $35.08
Top 3 Stocks
- Nucor Corp $21.33 (28.45%)
- WM Wrigley $21.24 (28.32%)
- Family Dollar $8.87 (11.83%)
Bottom 3 Stocks
- Fifth Third Bancorp $-22.85 (-30.46%)
- Regions Financial $-20.11 (-26.82%)
- Gannett Co $-15.07 (-20.10%)
Stocks used in this post:
- (FDO: 24.82, -1.35%, Yield: 1.95%)
- (FITB: 13.12, +20.70%, Yield: 10.86%)
- (GCI: 13.20, +3.45%, Yield: 12.54%)
- (NUE: 34.28, -12.75%, Yield: 5.52%)
- (RF: 11.49, +29.98%, Yield: 14.03%)
- (ROH: 70.64, +0.73%, Yield: 2.22%)
- (WWY: 0.00, N/A, Yield: N/A%)
June 5th, 2008 at 5:37 pm
I am not very sympathetic. When you cut my dividend, it makes me a little agitated.
Best Wishes,
D4L