Ripoff Report Needs Your Help!
X  |  CLOSE
Report: #414124

Complaint Review: Advanta Dennis & Gisela Alter 'Advanta - Internet

  • Submitted:
  • Updated:
  • Reported By: San Francisco California
  • Author Confirmed What's this?
  • Why?
  • Advanta Dennis & Gisela Alter 'Advanta 7111 SHEAFF LN Internet U.S.A.

Advanta Dennis & Gisela Alter 'Advanta Stupido Lowlife Scumbag' Good Lord has answered our prayers! Advanta stock is on life support! Internet

Show customers why they should trust your business over your competitors...

Is this
Report about YOU
listed on other sites?
Those sites steal
Ripoff Report's
content.
We can get those
removed for you!
Find out more here.
How to fix
Ripoff Report
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Advanta shares dive after weak report, downgrade


By: The Associated Press | 20 Jan 2009 | 03:36 PM ET

CHARLOTTE, N.C. - Advanta Corp. shares fell more than 40 percent to a new low Tuesday afternoon after the credit card issuer reported credit deteriorated in December, and an analyst downgraded the company, saying it is "unlikely to survive."
Advanta stock shed 76 cents, or 39 percent, to $1.19 in afternoon trading. The stock hit a new year low of $1.04 earlier in the session. It has traded in a 52-week range of $1.58 to $10.63.
The Spring House, Pa.-based company said Tuesday total delinquencies jumped from 7.96 percent to 9.43 percent for December, while net losses rose to 12.91 percent.
Stifel Nicolaus & Co. analyst Chris Brendler downgraded Advanta to "Sell" from "Buy" on the news. He also lowered his 2008 earnings estimate to a loss of 34 cents per share, from a previous forecast for a loss of 22 cents per share.
On average, analysts polled by Thomson Reuters expect a loss of 11 cents per share.
"Early amortization appears unavoidable without a significant improvement in credit quality and that appears highly unlikely in this macro environment," Brendler wrote in a client note. "With over $4 billion in outstanding bongs, even Advanta's substantial cash hoard will likely prove insufficient and we believe the company will be forced into bankruptcy if the trust does indeed amortize early.
"Since we now believe Advanta will no longer be able to survive, we are forced to cut the stock to 'Sell,'" the analyst wrote.

http://www.cnbc.com/id/28756434/for/cnbc/

http://philadelphia.craigslist.org/vnn/1000581278.html

Yes We Can!
San Francisco, California
U.S.A.

This report was posted on Ripoff Report on 01/20/2009 02:54 PM and is a permanent record located here: https://www.ripoffreport.com/reports/advanta-dennis-gisela-alter-advanta/internet/advanta-dennis-gisela-alter-advanta-stupido-lowlife-scumbag-good-lord-has-answered-ou-414124. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
Featured Reports

Advertisers above have met our
strict standards for business conduct.

X
What do hackers,
questionable attorneys and
fake court orders have in common?
...Dishonest Reputation Management Investigates Reputation Repair
Free speech rights compromised

WATCH News
Segment Now