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Stock Market & Financial Investment News

News Breaks
July 21, 2014
17:47 EDTCS, AFAstoria Financial to sell non-performing residential mortgages to Credit Suisse
Astoria Financial (AF) announced that the bank had entered into an agreement to sell certain non-performing residential mortgage loans, or NPL, to Credit Suisse (CS) for consideration of approximately $186M. The NPL Sale is expected to close on or about July 31, subject to usual and customary closing conditions. In anticipation of the NPL Sale, such non-performing loans were designated as held-for-sale as of June 30 and were written down from their carrying value of approximately $195M to their estimated fair value of $186M. As a result, the company recorded an $8.7M charge-off and a $5.7M loan loss release in Q2.
News For AF;CS From The Last 14 Days
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July 30, 2015
06:25 EDTCSSamson Resources plans to file for bankruptcy protection, NY Post reports
Samson Resources plans to file for bankruptcy protection "within days," the New York Post reports. KKR (KKR) is slated to lose its approximately $2B investment in the firm, the report says. Cerberus Capital Management, Silver Point Capital, and Credit Suisse (CS) are among the second-lien lenders that hold roughly $1B in debt and will take over Samson in exchange for their loans as part of a prepackaged bankruptcy, the report says. Reference Link
July 27, 2015
10:29 EDTCSCase against Credit Suisse over 'dark pools' prepped by NY AG, Fox Business says
New York Attorney General Eric Schneiderman is readying to bring a civil case against Credit Suisse over high-frequency trading abuses through its Crossfinder “dark pools,” according to Fox Business' Charlie Gasparino. Reference Link
July 23, 2015
13:50 EDTAFAstoria Financial downgraded to Neutral from Overweight at Piper Jaffray
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05:47 EDTCSCredit Suisse reports Q2 EPS CHF 0.61 vs. (CHF 0.45) last year
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July 22, 2015
16:39 EDTAFAstoria Financial reports Q2 EPS 29c, consensus 16c
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09:59 EDTCSCredit Suisse CEO considers possible acquisition, FT reports
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