Tuesday, March 09, 2010

Bank of Nova Scotia -- Pulled Punch?

Bank of Nova Scotia (BNS) announced Q1 earnings of just under $1 Billion. You have to wonder what are they holding back. There is lots of political back lash when a Canadian bank announces earnings over $1 Billion so by keeping this under the radar are the executives just staying comfortable and setting up future earnings. The stock is trading at its 52 week high and needs something to get it into the new range. To days earnings in an improving economy did not do the trick. Therefore how are the numbers massaged?