HSBC is heavily exposed to credit card assets. In that light, it is similar to Capital One, which earlier this year slashed its earnings estimates by over 20 percent due to high default rates and building losses. We see potential for a negative impact to HSBC’s earnings from this exposure as well. HSBC credit […]
HSBC has been criticized by some analysts for the purchase of Household. Merrill Lynch & Co. and at least six other brokers cut their 2005 earnings estimates for HSBC on March 1, a day after the bank reported the slowest earnings growth in 2 1/2 years as earnings from consumer lending in the U.S. declined. […]
March 2, 2005
WASHINGTON (Reuters) - Costco Wholesale Corp. , the largest U.S. warehouse club, posted quarterly earnings and sales just below estimates on Wednesday, sending its stock 2.7 percent lower in premarket trading. — end of quote –
Household - HSBC Watch, a watchdog organization, said Costco managed to disappoint even though profits were up. […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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