Daily Discussion - Main Discussion thread

Discussion in 'Stock Market Today' started by T0rm3nted, Feb 8, 2021.

  1. stock1234

    stock1234 2017 Stockaholics Contest Winner

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  2. stock1234

    stock1234 2017 Stockaholics Contest Winner

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  3. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    SIVB is startup focused and it is not a great environment for startup right now with higher interest rates, looks like the management also had some missteps by suffering big bond losses too

    Bond Losses Push Silicon Valley Bank Parent to Raise Capital - WSJ
     
  4. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Thank you for finding that...I remember there was another bank that was somewhat in Silvergate's shoes, and I was wondering if it was SIVB since it is down so much today. But now I remember it was SBNY. All these banks being down confused me.

    Kinda non-traditional crash today. Techs did NOT lead it down (although small caps did). And rates starting to come down. SPX has to hold 3805 this month.
     
    #3484 anotherdevilsadvocate, Mar 9, 2023
    Last edited: Mar 9, 2023
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  5. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    SCHW is getting hammered along with the banks today, interesting :eek2: IBKR is not nearly down as much
     
  6. Smokie

    Smokie Well-Known Member

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    Maybe the TD Ameritrade deal....aren't the getting acquired by SCHW...??
     
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  7. Spud

    Spud Well-Known Member

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    Banks are in deeper trouble than they want you to know. Some are still sitting on Tbills that are technically worthless. Loans are faltering at a high percentage. Those claiming the economy is strong are smoking the Crack pipe. It's going to be a slow walk up the hill to get out of this mess. Credit Suisse is just the beginning. The little bank in Cali that crashed 70% today should be a signal.
     
  8. stock1234

    stock1234 2017 Stockaholics Contest Winner

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  9. Spud

    Spud Well-Known Member

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  10. hitman

    hitman Well-Known Member

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    $SIVB held by 10 Institutional with Swedish pension fund being the 4th largest, bad day for a Swede.
     
  11. hitman

    hitman Well-Known Member

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    If job numbers come in over 300K + many will be f**ked best pray it's below 200K
     
  12. emmett kelly

    emmett kelly Well-Known Member

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  13. Smokie

    Smokie Well-Known Member

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    They have halted trading on SIVB....the bank is looking for a buyer "emmett".
     
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  14. Spud

    Spud Well-Known Member

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    I guess I'll have drive to the place and snatch a few bushes to get some of my money back. :lauging:

    Word is GS may buy them out. Peter Thiel's puts paid off, that's all that matters. I gambled,I lost. Next.
     
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  15. Spud

    Spud Well-Known Member

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  16. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    10-year rate back below 4%. Tech stocks holding up.
     
  17. Smokie

    Smokie Well-Known Member

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    FDIC closes Silicon Valley Bank after bank fails to raise new capital
    (Yahoo Finance).

    Troubled lender Silicon Valley Bank has been closed by the FDIC after deposit outflows and a failed capital raise sent the firm into crisis this week.

    In a statement released late Friday morning, the FDIC said: "Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara (DINB). At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank."

    Shares of the bank's parent company, SVB Financial (SIVB), remained halted for trade on Friday after having lost 60% on Thursday and another 60% in pre-market trading on Friday.

    The FDIC's statement continued: "All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023. The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors."
     
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  18. Spud

    Spud Well-Known Member

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    I got Dibbs on the bushes and misc. landscaping. I want some of my thousand bucks back. :lauging:

    All the gold in California is in a Bank in the middle of Beverly Hills in somebody else's name. :D
     
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  19. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    SVB Financial Group, shut down by regulators on Friday after a run on deposits, is known for its close partnerships with tech companies. But it’s also a lender to clean energy firms, including Sunrun (ticker: RUN), the largest residential solar developer in the U.S. That relationship appears to be impacting Sunrun’s stock, which was down as much as 13% on Friday.

    The bank has promoted its relationship with Sunrun on its website, noting that it was an early believer in Sunrun’s business model. It lent the company money in 2014, a year before Sunrun went public.

    That relationship has continued. SVB (SVIB) was one of the lead banks arranging a $575 million loan for Sunrun in January that’s expected to finance solar panels the company places on people’s homes. Neither Sunrun nor the bank immediately responded to requests for comment on what the bank’s troubles might mean for their relationship.

    Other solar developers, including Sunnova Energy International (NOVA) and SunPower (SPWR), don’t mention SVB in their most recent annual reports.

    “The potential risk here is Sunrun loses some of its credit facility funding ability,” wrote Gordon Johnson, an analyst at GLJ Research who has been skeptical of Sunrun’s business model.

    Sunrun depends on outside lenders to finance its projects, because it pays for the equipment that gets installed on clients’ roofs in advance. Homeowners then pay Sunrun fees every month for the power their panels produce through contracts that can last 20 years. One analyst said that other banks are likely to step in even if SVB Financial Group SIVB 0.00% is forced to slow its lending, so investors shouldn’t worry.

    “SVB has been involved in lending to countless renewable energy companies… this is nothing unique with Sunrun,” wrote Raymond James analyst Pavel Molchanov in an email to Barron’s. “Even more to the point, the banking industry across the board has very strong appetite for lending to solar and other renewable energy projects. Banks love lending to these kinds of businesses because of the generally low risk involved, and also because it improves their ESG scores. So, if one lender exits the market, there is plenty of capacity elsewhere.”
     
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  20. stock1234

    stock1234 2017 Stockaholics Contest Winner

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