PREMARKET ALERT: Deutsche Bank (DB)

Posted in General 
July 28th, 2009

Deutsche Bank AG (NYSE: DB) shares are down 8 percent to $67.87 and are among the most active premarket issues with 19,600 shares traded by about 7:45 a.m. Eastern. The company’s net profit rose 68% to 1.09 billion euros ($1.56 billion) from 649 million euros a year earlier, and net revenue rose 46% to 7.9 billion euros from 5.4 billion euros. Also, the bank’s capital position improved. But the company’s provisions for credit losses rose more than 7-fold to 1 billion euros from 135 million euros a year earlier, and was worse than analyst expectations of 634 million. Meanwhile, debt sales and trading revenue was 2.57 billion euros, down from 3.76 billion euros in the first quarter — Mike Tarsala

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