State Street: Earnings Scorecard
State Street Corporation (STT – Analyst Report) reported its second-quarter 2010 results on July 20. Operating earnings for the reported quarter were in line with the Zacks Consensus Estimate. However, investors were clearly not buoyant with these results. As a result, the share price plummeted following the earnings release. The overall response has been negative with respect to estimate revisions over the last 7 days as analysts covering the stock had sufficient time to absorb and consider the near-term fundamental downsides. Let’s now cover the results of the recent earnings announcement, subsequent analyst estimate revisions and the Zacks ratings for both the short term and the long term outlook for the stock. Earnings Report Review Achievement of the estimates should be a positive for the stock price and this inspires optimism for a stable future. But t Full post…