Deutsche Bank Says It May Issue A Profit Warning And The Stock Just Dipped
They fear earnings will disappoint investors with more losses than expected when the bank announces on January 29th.
The stock is down over 3% on this news.
There are a bunch of reasons why Deutsche could disappoint, chief among them being that the German bank must raise money in order to comply with European capital regulations. It has been selling assets in order to do so, but has sold less than expected.
The bank also has problems that we know all too well here in the U.S. - legal expenses. Deutsche had to pay $1 billion in fines in order to settle allegations related to rate rigging last month.
Last quarter, the bank reported a loss of almost $3 billion.
Analysts expect the bank to report profits of $946 million for Q4 2013, so we'll see what happens.
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