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Stock Market & Financial Investment News

News Breaks
February 6, 2013
05:12 EDTFBC, AGOAssured Guaranty Flagstar Bancorp awarded $90M in case against Flagstar Bank
Following the decision by Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York in Assured Guaranty's (AGO) case seeking recoveries from Flagstar Bank (FBC) for breaches of representations and warranties, or R&W, in insured residential mortgage-backed securities, or RMBS, Assured Guaranty President and CEO Dominic Frederico said: "Judge Rakoff gave us an important victory, awarding us substantially all the damages we had sought, including approximately $90M as compensation for claims paid, as well as interest, costs and attorneys' fees still to be determined. This is the first trial related to RMBS R&W putbacks that has come to a final court ruling, and it sets a strong precedent in support of the rights of Assured Guaranty in these cases. The court recognized and clearly articulated the responsibility of an R&W provider to honor its contractual obligations to purchase defective mortgage loans." The decision is consistent with preliminary rulings from other courts in legal actions that have called on RMBS R&W providers to take responsibility for contractual commitments.
News For AGO;FBC From The Last 14 Days
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February 9, 2016
10:00 EDTFBCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ArcelorMittal (MT) upgraded to Neutral from Sell at Goldman... Electronic Arts (EA) upgraded to Buy from Neutral at Hilliard Lyons... First Interstate (FIBK) upgraded to Outperform from Market Perform at Fig Partners... Flagstar Bancorp (FBC) upgraded to Buy from Hold at Sandler O'Neill... Frontline (FRO) upgraded to Buy from Neutral at Clarksons Platou... Grifols (GRFS) upgraded to Buy from Hold at Berenberg... Grupo Financiero (GGAL) upgraded to Neutral from Underweight at JPMorgan... Kinross Gold (KGC) upgraded to Outperform from Neutral at Credit Suisse... Luxottica (LUX) upgraded to Hold from Underperform at Jefferies... PrivateBancorp (PVTB) upgraded on growth outlook at SunTrust... SS&C (SSNC) upgraded to Outperform from Market Perform at Raymond James... Salesforce (CRM) upgraded to Hold from Underperform at Jefferies... TCF Financial (TCB) upgraded to Neutral from Sell at Compass Point... TreeHouse (THS) upgraded to Overweight from Neutral at JPMorgan... WPX Energy (WPX) upgraded to Overweight from Equalweight at Capital One... Yelp (YELP) upgraded to Neutral from Sell at B. Riley.
07:59 EDTFBCFlagstar Bancorp upgraded to Buy from Hold at Sandler O'Neill
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