Kraft Foods began with James Lewis Kraft using a horse and wagon to sell wholesale cheese to local merchants in Chicago.
Hewlett Packard launched after Bill Hewlett and Dave Packard hunkered down in a rented Palo Alto garage.
Ben & Jerry's was born after Ben Cohen and Jerry Greenfield turned a rundown Burlington, Vt., gas station into an ice cream shop.
SMART SMALL BUSINESS: These entrepreneurs get a taste of success
SOCIAL MEDIA: Digital tools play big role in small business growth
Those entrepreneurs, like countless others, were able to grow a fledgling firm into a strong, viable company. Successfully taking a company beyond the start-up stage and growing it into a stable small, medium or large-sized firm is admirable -- as well as incredibly difficult.
Top 5 European Companies To Buy For 2015: Bellway PLC (BWY)
Bellway p.l.c. is a United Kingdom-based holding company, owning subsidiary undertakings, which is engaged principally in housebuilding in the United Kingdom. The Company�� subsidiaries include Bellway Homes Limited, Bellway Properties Limited, Bellway (Services) Limited, Litrose Investments Limited, Bellway Financial Services Limited, Bellway Housing Trust Limited and The Victoria Dock Company Limited. Advisors' Opinion:- [By Sofia Horta e Costa]
Bellway Plc (BWY) added 1.4 percent after the homebuilder said reservations in the past four months rose 31 percent as buyers had greater access to mortgages. Elan (ELN) Corp. jumped to a 10-month high in Dublin after Royalty Pharma increased its offer for the Irish drugmaker to as much as $6.7 billion. BT Group increased 3.7 percent as Barclays Plc recommended investors buy shares of the U.K.�� largest fixed-line company.
10 Best Diversified Bank Stocks To Watch For 2014: Acxiom Corporation(ACXM)
Acxiom Corporation provides marketing technology and services that enable marketers to manage audience, personalize consumer experiences, and create customer relationships. It operates in two segments, Information Services and Information Products. The Information Services segment offers customer data integration, multichannel marketing services, infrastructure management services, and consulting services. This segment also develops, sells, and delivers industry-tailored solutions, including the design and creation of marketing databases and data warehouses; data integration and customer-recognition systems; marketing applications; list processing; and information technology services. The Information Products segment develops and sells various data products, including segmentation products and domestic fraud and risk mitigation products, as well as online advertising products. This segment provides InfoBase-Xa, a customer-centric foundation for various marketing needs with a collection of the United States consumer information available in one source; PersonicXa, a household segmentation and visualization system; and Acxiom Relevance-Xa, an online advertising network that lets marketers reach the consumers interested in their particular product or service. The company serves clients in financial services, insurance, information services, direct marketing, media, retail, consumer packaged goods, technology, automotive, healthcare, travel, and telecommunications industries. It offers its products and services in the United States, Europe, the Asia Pacific, and the Middle East. The company was founded in 1969 and is headquartered in Little Rock, Arkansas.
Advisors' Opinion:- [By Sally Jones]
Acxiom Corporation (ACXM): ReducedUp 47% over 12 months, Acxiom Corporation has a market cap of $1.84 billion; its shares were traded at around $24.98 with a P/E ratio of 33.40 and a P/B of 3.00.
10 Best Diversified Bank Stocks To Watch For 2014: Gerdau SA (GGB)
Gerdau S.A. (Gerdau), incorporated on November 20, 1961, is a producer of long rolled steel. Gerdau operates steel mills that produce steel by direct iron-ore reduction (DRI) in blast furnaces and in electric arc furnaces (EAF). In Brazil, the Company operates four integrated steel mills, including its mill, Acominas mill, an integrated steel mill located in the state of Minas Gerais. It has a total of 60 steel producing units globally, including joint ventures and associate companies. The joint ventures include a unit located in the United States for the production of flat rolled steel and another unit in India. The associate companies are Aceros Corsa in Mexico; Corporacion Centroamericana del Acero in Guatemala, and Industrias Nacionales (INCA) in the Dominican Republic. Through its subsidiaries and affiliates, the Company also engages in other activities related to the production and sale of steel products, including reforestation, electric power generation projects; coking coal, iron ore and pig iron production, as well as fab shops and downstream operations. On August 12, 2010, Gerdau acquired the remaining 49.1% interest in the Cleary Holdings Corp. On October 21, 2010, Gerdau, through its wholly owned subsidiary Gerdau Ameristeel acquired TAMCO Steel.
Gerdau offers a range of steel products, which are manufactured according to a variety of customer specifications. Its product mix includes crude steel (slabs, blooms and billets) sold to rolling mills, finished products for the construction industry, such as rods and structural bars, finished products for industry, such as commercial rolled steel bars and machine wire and products for farming and agriculture, such as poles, smooth wire and barbed wire. The Company also produces specialty steel products utilizing technology and normally with a certain degree of customization for the manufacture of tools and machinery, chains, locks and springs, for the automotive and mechanical industries. As of December 31, 2010, the Company operat! ed 19 steel production units in the United States and Canada through its principal entity, Gerdau Ameristeel Corporation. Gerdau operates in four business segments: Brazil (Brazil Business Operation), includes Brazil�� operations, except specialty steel; North America (North America Business Operation), includes all North American operations, except Mexico and specialty steel; Latin America (Latin America Business Operation), includes all Latin American operations, except for Brazil, and Specialty Steel (Specialty Steel Business Operation), includes the specialty steel operations in Brazil, Spain and the United States.
Crude Steel (Billets, Blooms and Slabs)
Crude steel products include billets, blooms and slabs. Billets are bars from square sections of long steel that serve as inputs for the production of wire rod, rebars and merchant bars. They are the main product of the Acominas mill. Blooms are used to manufacture products, such as springs, forged parts, heavy structural shapes and seamless tubes. Slabs are used in the steel industry for the rolling of a range of flat rolled products. Slabs are mainly used to produce hot and cold rolled coils, heavy slabs and profiles. Crude steel products are produced using either the continuous casting or conventional process.
Common Long Rolled Products
Common long rolled products represent a major portion of the Company�� production. The Company�� main long rolled products include rebars, merchant bars and profiles, which are used mainly by the construction and manufacturing industries.
Drawn Products
Drawn products include barbed and barbless fence wire, galvanized wire, fences, concrete reinforcing wire mesh, nails and clamps. These products are not exported and are sold to the manufacturing, construction and agricultural industries.
Specialty Steel Products
Gerdau produces specialty and stainless steel used in tools and machinery, chains, fasteners! , railroa! d spikes and special coil steel at its Acos Villares and Piratini units in Brazil, at Corporacion Sidenor units in Spain and at the MacSteel units in the United States. In the United States, Gerdau Ameristeel produces special sections, such as grader blades, smelter bars, light rails, super light I-beams, elevator guide rails and other products that are made on demand for the Company�� clients, which are mainly manufacturers. It is a joint venture with the Kalyani Group in India, in which Gerdau has a 73.2% interest in the joint venture.
Flat Products
Gerdau�� Acominas mill produces slabs, which are rolled into flat products, such as hot and cold steel coils, heavy plates and profiles. In addition, the Company�� distribution subsidiary, Comercial Gerdau, resells flat steel products manufactured by other Brazilian steel producers. Gerdau Ameristeel also supplies flat steel to its customers through its joint venture Gallatin located in Kentucky. Gallatin is a joint venture with ArcelorMittal, Canada, a flat steel producer, and has nominal installed capacity of 1.4 million tons of flat steel per year.
The Company competes with Commercial Metals Company, Nucor Corporation, Steel Dynamics Inc., ArcelorMittal Inc., ArcelorMittal Brasil, Usiminas Group and CSN.
Advisors' Opinion:- [By Victor Selva] -largest producer in the sector.
Why Not No. 1?
Brazil-based Gerdau has three main advantages. Size ��though it�� a strong pro ��is not necessarily one of them. To start with, Gerdau is a highly integrated company, with annual iron ore production capacity totaling 11.5 million metric tons, enabling it to be over 80% and 40% self-sufficient in Brazil and the U.S., respectively, and thus hedging itself from volatility in raw material prices.
Second, the company has a relatively modern fleet of furnaces, mainly composed of electric arc furnaces (EAFs), which are more energy-efficient than traditional blast furnaces and should result on a more flexible supply.
Last, the location is also a positive factor: with a high geographical diversification, Gerdau has still managed to maintain a strong leadership in the markets where it operates (particularly in Brazil and the U.S.). This allows it, on the one hand, to supply many different markets and therefore reduce risks of local economic underperformances and, on the other hand, to profit from low-cost labor in Brazil. In addition, the upcoming sporting events ��2014 World Cup and 2016 Olympics ��are expected to generate a strong inflow of investments in infrastructure in the country, with Gerdau as a potential beneficiary of this.
In spite of being the biggest worldwide, I believe that ArcelorMittal doesn�� count with these characteristics. Further, as players in the industry are so atomized, being the No. 1 producer implies having only 6% of the global market share, which doesn�� give ArcelorMittal a superior bargain power than its peers. And though it�� still a very diversified and vertically integrated group, its costs will tend to be higher than those of Gerdau, since its furnaces are primarily blast furnaces and its labor expenses are higher as the company is based in Europe.
US Steel will also have to deal with an old and inefficient fleet of furnaces, w
10 Best Diversified Bank Stocks To Watch For 2014: AutoNation Inc (AN)
AutoNation, Inc. (AutoNation), incorporated on May 30, 1991, is an automotive retailer in the United States. As of December 31, 2011, the Company had three operating segments: Domestic, Import, and Premium Luxury. As of December 31, 2011, it owned and operated 258 new vehicle franchises from 215 stores located in the United States, predominantly in metropolitan markets in the Sunbelt region. Its stores sell 32 different brands of new vehicles. The core brands of vehicles that it sells, representing approximately 90% of the new vehicles that it sold during the year ended December 31, 2011, was manufactured by Ford, Toyota, Nissan, General Motors, Honda, Mercedes-Benz, BMW, and Chrysler. The Company offers a diversified range of automotive products and services, including new vehicles, used vehicles, parts and automotive repair and maintenance services , and automotive finance and insurance products, which includes the arranging of financing for vehicle purchases through third-party finance sources. The Company retailed approximately 400,000 new and used vehicles through its stores in 2011. It acquired one automotive retail franchise and related assets during 2011.
Domestic segment consists of retail automotive franchises that sell new vehicles manufactured by General Motors, Ford, and Chrysler. Its Import segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Toyota, Honda, and Nissan. Its Premium Luxury segment is consists of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes-Benz, BMW, and Lexus. The franchises in each segment also sells used vehicles, parts and automotive repair and maintenance services, and automotive finance and insurance products. For the year ended December 31, 2011, Domestic revenue represented 34% of total revenue, Import revenue represented 37% of total revenue, and Premium Luxury revenue represented 28% of total revenue. Corporate and other is consist of its other businesses, incl! uding collision centers, e-commerce activities, and an auction operation, each of which generates revenues, as well as unallocated corporate overhead expenses and retrospective commissions for certain financing and insurance transactions that it arranges under agreements with third parties.
The Company�� stores acquires vehicles for retail sale either directly from the applicable automotive manufacturer or distributor or through dealer trades with other stores of the same franchise. it acquires used vehicles from customer trade-ins, auctions, lease terminations, and other sources. It recondition used vehicles acquired for retail sale at its stores��service facilities and capitalize costs related thereto as used vehicle inventory. Through its VVOs, which are located on existing store facilities, it sells vehicles that it would have traditionally wholesaled with an average retail price lower than that of used vehicles it typically retail. Used vehicles that the Company do not sell at its stores or VVOs generally are sold at wholesale prices through auctions.
The Company offers a variety of automotive finance and insurance products to its customers. The Company arranges for its customers to finance vehicles through installment loans or leases with third-party lenders, including the vehicle manufacturers��and distributors��captive finance subsidiaries, in exchange for a commission payable to the Company. It also offers its customers various vehicle protection products, including extended service contracts, maintenance programs, guaranteed auto protection (GAP, this protection covers the shortfall between a customer�� loan balance and insurance payoff in the event of a casualty), tire and wheel protection, and theft protection products. The vehicle protection products that its stores offers to customers are underwritten and administered by independent third parties, including the vehicle manufacturers��and distributors��captive finance subsidiaries. The Company sells t! he produc! ts on a straight commission basis; however, it also participate in future underwriting profit for certain products pursuant to retrospective commission arrangements. Commissions that it receives from these third-party providers may be subject to chargeback, in full or in part, if products that it sells, such as extended service contracts, are cancelled. Its stores also provide a range of vehicle maintenance, repair, paint, and collision repair services, including warranty work that can be performed only at franchised dealerships and customer-pay service work. The Company has entered into framework agreements with vehicle manufacturers and distributors. It operates each of its new vehicle stores under a franchise agreement with a vehicle manufacturer or distributor.
Advisors' Opinion:- [By tonyg34]
In a recent interview right here on GuruFocus, Tom Gayner of Markel (MKL) had a few things to say about CarMax (KMX). This prompted me to give the company a closer look. What follows is a business analysis. We will save considerations of stock analysis, such as price, for a later discussion.
I think that is a business that will continue to grow. I don't see any reason why you can't have a Carmax in a lot of towns way beyond what they're talking about right now. I think being the number one dealer, and having the number one market share in used car arena gives you great information on what transaction prices are. Then you work on the process to be as quick and as cost efficient in fixing the car and getting it sold, and have the confidence from customers when you offer warranties on the products. Those factors create a virtuous cycle. The more you do, the more you can do, the better the pricing is, the more the customers like you, the more your brand matters. The company will be around for a good long time. The management has done a very good job of creating the system and executing it.
CarMax was formed as a unit of Circuit City in 1993 and was spun off in 2002. Used-car sales account for about 80% of revenue. Competitors include, but certainly are not limited to, AutoNation (AN) and America's Car-Mart (CRMT) as well as private party sellers. - [By Brian Pacampara]
AutoNation (NYSE: AN )
Penske Automotive Group (NYSE: PAG )Sources: S&P Capital IQ and Motley Fool CAPS.
- [By Rich Smith]
Automakers' gross sales statistics notwithstanding, it's not always easy to understand how car sales are stacking up in the real world. Nation's largest automotive retailer AutoNation (NYSE: AN ) knows, and on Tuesday, it announced its latest sales figures for new-car sales for the month of May.
10 Best Diversified Bank Stocks To Watch For 2014: MRC Global Inc (MRC)
MRC Global Inc., formerly known as McJunkin Red Man Holding Corporation, incorporated on November 20, 2006, is a holding company. The Company is the distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company offers a range of PVF and oilfield supplies encompassing a complete line of products from its global network of suppliers to its more than 12,000 customers. The Company operates in two segments: North American segment and International segment. Its North American segment includes over 180 branch locations, six distribution centers in the United States, one distribution center in Canada, 11 valve automation service centers and over 170 pipe yards located in the oil and natural gas regions in North America. Its International segment includes over 40 branch locations throughout Europe, Asia and Australasia with distribution centers in each of the United Kingdom, Singapore and Australia and 10 automation service centers in Europe and Asia. On June 9, 2011, it acquired Stainless Pipe and Fittings Australia Pty. Ltd. (MRC SPF). On July 22, 2011, it acquired Valve Systems and Controls (VSC). In January 2013, the Company's subsidiary, McJunkin Red Man Corporation,acquired operating assets of Production Specialty Services, Inc. In July 2013, MRC Global Inc announced that it has completed the previously announced acquisition of the operating assets of Dan H. Brown, Inc., D/B/A Flow Control Products (Flow Control). In December 2013, MRC Global Inc acquired Flangefitt Stainless Ltd. Effective January 6, 2014, MRC Global Inc a unit of GS Capital Partners LP subsidiary of Goldman Sachs Group Inc's Goldman Sachs & Co unit, acquired Stream AS.
The Company distributes products globally, including in PVF intensive, oil and natural gas exploration and production (E&P) areas, such as the Bakken, Barnett, Eagle Ford, Fayetteville, Haynesville, Marcellus, Niobrara and Utica shales in North America. Its Canadian subsidiary Midfield Supply ULC and its! subsidiaries (MRC Midfield), provides PVF products to oil and natural gas companies operating primarily in Western Canada, including the Western Canadian Sedimentary Basin, Alberta Oil Sands and heavy oil regions. It offers more than 150,000 stock keeping units (SKUs), including a range of PVF, oilfield supply, automation, instrumentation and other general and specialty industry supply products.
The Company is the majority owned subsidiary of PVF Holdings LLC. Its wholly owned subsidiary, McJunkin Red Man Corporation and its subsidiaries (MRC), are global distributors of pipe, valves, fittings and related products and services across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining, petrochemical processing and general industrials) markets. The Company serves the global oil and natural gas industry, generating approximately 90% of its sales from supplying products and services to customers throughout the energy industry. Of its total sales, 62% of sales are comprised of valves, fittings and flanges and other industrial supply products and 38% are tubular products, mainly line pipe and oil country tubular goods (OCTG) as of September 30, 2011.
North American Operations
The Company distributes PVF products, primarily used in applications in the energy infrastructure sector, from its global network of suppliers. The products it distributes are used in the construction, maintenance, repair and overhaul of equipments. The products include Valves and Specialty Products, Line Pipe, OCTG, Carbon Steel Fittings and Flanges and Stainless Steel and Alloy Pipe and Fittings and others. The products under valves and specialty products include ball, butterfly, gate, globe, check, needle and plug valves, which are manufactured from cast steel, stainless/alloy steel, forged steel, carbon st! eel or ca! st and ductile iron. Specialty products include lined corrosion resistant piping systems, valve automation and top work components used for regulating flow and on/off service, and a range of steam and instrumentation products used in various process applications within its refinery, petrochemical and general industrial sectors.
Carbon line pipe is used in high-yield, high-stress, abrasive applications, such as the gathering and transmission of oil, natural gas and phosphates. Line pipe is part of its tubular product category. OCTG is part of its tubular product category, includes casing (used for production and to line the well bore) and tubing pipe (used to extract oil or natural gas from wells) and is either classified as carbon or alloy depending on the grade of material. Carbon steel fittings and flanges include carbon weld fittings, flanges and piping components used primarily to connect piping and valve systems for the transmission of various liquids and gases. These products are used across all the industries in which it operates. Stainless steel and alloy pipe and fittings include stainless, alloy and corrosion resistant pipe, tubing, fittings and flanges. These are used in the chemical, refining and power generation industries, as well as across all of the sectors in which the Company operates. Alloy products are principally used in high-pressure, high-temperature and high-corrosion applications typically seen in process piping applications.
The products under other category include natural gas distribution products, oilfield supplies, and other industrial products, such as mill and safety and electrical supplies. Natural gas distribution products include risers, meters, polyethylene pipe and fittings and various other components and industrial supplies used primarily in the distribution of natural gas to residential and commercial customers. It offers a range of oilfield and industrial supplies and completion equipment, and products offered include high density polyet! hylene pi! pe and fittings, valves, well heads, pumping units and rods. In addition, it supplies a range of specialized production equipment, including meter runs, tanks and separators used in its upstream sector.
The Company provides its customers with a range of services, including multiple deliveries each day, zone store management, valve tagging and system interfaces that directly tie the customer into its information systems. Its information system, which provides for customer and supplier electronic integrations, information sharing and e-commerce applications, provides service to its customers. The Company sources the products it distributes from a global network of suppliers. The remainder of the products it distributes are sourced from manufacturer representatives, trading companies and, in some instances, other distributors.
The Company competes with Wilson Industries, Inc., National Oilwell Varco, Inc. and Ferguson Enterprises.
International Operations
The Company�� International segment represents its valve and stainless and alloy pipe, fitting and flange distribution business to the energy and general industrial sectors, across each of the downstream and upstream sectors, through its distribution operations located throughout Europe, Asia, Australasia and the Middle East. Through its over 40 branch and service facilities throughout Europe, Asia, Australasia and the Middle East, it distributes a complete line of valve and stainless and alloy pipe, fittings and flanges and specialty products. Its Valve products offered include ball, butterfly, gate, globe, check, needle and plug valves, which are manufactured from cast steel, stainless/alloy steel, forged steel, carbon steel or cast and ductile iron. Valves are used in oilfield and industrial applications to control direction, velocity and pressure of fluids and gases within transmission networks. Specialty products include lined corrosion resistant piping systems, valve automation and top work compo! nents use! d for regulating flow and on/off service and a range of steam and instrumentation products used in various process applications within its offshore, refinery, petrochemical and general industrial sectors.
Stainless steel products are used in all sectors in which it operates, including oil and gas, mining and mineral processing, water treatment and desalination, and petrochemical. It provides its customers with a range of services, including multiple daily deliveries, zone stores management, valve tagging and system interfaces that directly tie the customer into its information systems.
The Company competes with Econosto.
Advisors' Opinion:- [By Monica Wolfe]
MRC Global (MRC)
Over the duration of the second quarter, Columbia Wanger upped their position in MRC Global by 258.43%. The fund purchased 1,809,000 shares of the company�� stock at an average price of $29.69. Since their increase, the price per share has dropped -18.9%.
- [By Eric Volkman]
MRC Global (NYSE: MRC ) now officially has a new asset in its portfolio. The company announced it has finalized the acquisition of the operating assets of Flow Control Products. It describes the once privately held firm as "a leading provider of pneumatic, electric and electro-hydraulic valve automation packages and related field support to the Permian Basin energy industry, including production facilities, pipelines, and plant operations." According to MRC Global, the company posted $28 million in revenues last year.
10 Best Diversified Bank Stocks To Watch For 2014: Pinnacle Financial Partners Inc.(PNFP)
Pinnacle Financial Partners, Inc. operates as the bank holding company for Pinnacle National Bank that provides commercial banking products and services to individuals, small-to medium-sized businesses, and professional entities in Tennessee. It offers various deposit products, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts. The company also offers commercial loans comprising equipment loans and working capital loans; commercial and residential real estate loans, and construction and development loans; and loans to individuals for personal, family, investment, and household purposes, including secured and unsecured installment and term loans, residential first mortgage loans, home equity loans, and home equity lines of credit. In addition, it provides various investment products, such as mutual funds, variable annuities, money market instruments, the United States treasury securities, bonds, fixed annuities, stocks , financial planning, asset management accounts, and listed options; fiduciary and investment management services for individual and commercial clients, including personal trust, endowments, foundations, individual retirement accounts, pensions, and custody services; investment advisory services; and insurance products primarily in the property and casualty area. Further, the company offers telephone and Internet banking, debit cards, automated teller machines, remote and direct deposit, and cash management services. As of January 17, 2012, it operated 29 offices in 8 Middle Tennessee counties and 3 offices in Knoxville. The company was founded in 2000 and is headquartered in Nashville, Tennessee.
Advisors' Opinion:- [By Brian Pacampara]
What: Shares of Pinnacle Financial (NASDAQ: PNFP ) climbed 10% today after the regional bank's quarterly results topped Wall Street expectations.
- [By Monica Gerson]
Pinnacle Financial Partners (NASDAQ: PNFP) is estimated to post its Q3 earnings at $0.42 per share on revenue of $56.99 million.
Commerce Bancshares (NASDAQ: CBSH) is projected to report its Q3 earnings at $0.72 per share on revenue of $254.92 million.
10 Best Diversified Bank Stocks To Watch For 2014: SunTrust Banks Inc.(STI)
SunTrust Banks, Inc. operates as the holding company for SunTrust Bank, which provides various financial services in the United States. The company?s Retail Banking segment offers consumer deposits, home equity lines, consumer lines, indirect auto, student lending, bank card, and other consumer loan and fee-based products. Its Diversified Commercial Banking segment provides commercial lending, financial risk management, capital raising, commercial card, and other treasury and payment solutions; insurance premium financing; and equipment and lease financing. The company?s Commercial Real Estate segment offers construction, mini-perm, and permanent real estate financing; capital raising services; financial risk management; treasury and payment solutions; and investment advisory and management services, as well as tailored financing and equity investment solutions. Its Corporate and Investment Banking segment provides investment banking products and services, such as strate gic advice, capital raising, and financial risk management; and traditional lending, leasing, treasury management, and institutional investment management services. The company?s Mortgage segment offers residential mortgage products. Its Wealth and Investment Management segment provides brokerage, professional investment management, and trust services; family office solutions; administration and custody services; administrative and investment solutions; escrow; and investment advisory services. The company also offers mortgage banking, credit-related insurance, asset management, securities brokerage, and capital market services. SunTrust Banks, Inc. serves individuals and families; businesses; institutions; and governmental agencies through its network of traditional and in-store branches, automated teller machines, Internet, and telephone. As of December 31, 2011, the company operated 1,659 full-service banking offices. The company was founded in 1891 and is headquartered in Atlanta, Georgia.
Advisors' Opinion:- [By John Maxfield]
While I'm not as well versed in insurance stocks, there are a couple of important things to note here with respect to banks. These companies appear cheap for a reason. Many, like S&P component SunTrust Banks (NYSE: STI ) , are still atoning for sins committed in the lead up to the financial crisis. Their costs are high because of heightened mortgage-servicing standards and loan-loss provisions while their revenues are down thanks to the compression of interest rates.
- [By John Grgurich]
SunTrust Banks (NYSE: STI ) is the holding company and publicly traded side of SunTrust Bank, one of the country's biggest regional banks. SunTrust primarily does three kinds of banking: consumer banking and private-wealth management; wholesale banking; and mortgage banking.
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