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News For BLK;MET;FCY;AEG;MTG;JPM;MS;BBT;BAC;FRE;FNM From The Last 14 Days Check below for free stories on BLK;MET;FCY;AEG;MTG;JPM;MS;BBT;BAC;FRE;FNM the last two weeks. |
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| May 6, 2013 | | 16:39 EDT |  | BAC | On The Fly: Closing Wrap
The Wall Street averages were mixed as a light news flow and light volume did little to catalyze a further advance. Still, with its positive close, the S&P 500 managed to set a new all-time closing high. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Bank of America (BAC) and MBIA (MBI) announced a comprehensive settlement to resolve all claims between the two companies. As part of the settlement, Bank of America will pay MBIA $1.6B in cash, receive warrants to purchase a 4.9% equity stake in MBIA and provide a $500M credit facility to the bond insurer. Bank of America also said it would take $1.3B in Q1 charges related to the settlement and that its first quarter earnings would be negatively impacted by 10c per share. Shares of MBIA, which spiked higher near noon after Dow Jones first reported the settlement, closed up $4.46, or 45.37%, to $14.29. Bank of America shares added 64c, or 5.23%, to $12.88... A team of private-equity firms led by Bain Capital and Golden Gate Capital agreed to buy BMC Software (BMC) for $46.25 per share in cash, or $6.9B. BMC shares, which have added more than 14% year-to-date amidst reports of negotiations for the deal, closed unchanged at $45.42. MAJOR MOVERS: Among notable gainers was Arkansas Best (ABFS), up $4.18, or 39.62%, to $14.73 after reaching a tentative labor agreement with the Teamsters union. Also higher was Tesla (TSLA), up $4.95, or 9.07%, to an all-time closing high of $59.50 after Barclays raised its price target on shares to $56 from $38 and the company named Aston Martin's lead vehicle engineer as VP of vehicle engineering. Among the noteworthy losers were LINN Energy (LINE), down $1.97, or 5.21%, to $35.75, and its spin-off LinnCo (LNCO), down $2.59, or 6.2%, to $39.24, following a cautious mention in this weekend's Barron's magazine. Also lower were shares of Tyson Foods (TSN), down 83c, or 3.33%, to $24.10 after its earnings report. INDICES: The Dow was down 5.07, or 0.03%, to 14,968.89; the Nasdaq was up 14.34, or 0.42%, to 3,392.97; and the S&P 500 was up 3.08, or 0.19%, to 1,617.50. | | | 15:48 EDT |  | BAC | MBIA to receive $1.7B net payment in settlement with Bank of America
 Subscribe for More Information | | | 15:44 EDT | | BAC | BofA receives warrants for 9.94M shares of MBIA stock as part of settlement
| | | 15:42 EDT | | BAC | MBIA to receive $1.7B net payment in settlement with Bank of America
Subscribe for More Information | | | 15:35 EDT | | BAC | BofA confirms settlement with MBIA, lowers Q1 EPS by 10c
Subscribe for More Information | | | 15:31 EDT |  | BAC | BofA says MBIA pact, related issues cuts Q1 net EPS by 10c per share
Subscribe for More Information | | | 15:29 EDT | | BAC | Bank of America confirms comprehensive settlement With MBIA
Subscribe for More Information | | | 12:59 EDT |  | BAC | Bank of America, MBIA in $1.7B mortgage settlement, WSJ reports
Subscribe for More Information | | | 12:53 EDT | | BAC | On The Fly: Midday Wrap
Subscribe for More Information | | | 12:33 EDT | | BAC | Merrill Lynch Wealth Management names Ashvin Chhabra CIO
Subscribe for More Information | | | | 12:30 EDT | | MTG | MBIA, peers jump following report of settlement with Bank of America
Subscribe for More Information | | | 12:16 EDT | | BAC | MBIA continues rise, up 39% after Dow says to settle suit with BofA
Subscribe for More Information | | | 12:12 EDT | | BAC | Bank of America up 3% after Dow reports settlement of suit with MBIA
Subscribe for More Information | | | 12:09 EDT | | BAC | Bank of America to take 5% stake in MBIA, pay $1.6B in cash, DJ reports
Subscribe for More Information | | | 09:43 EDT | | BAC | NY to sue Wells, BofA over mortgage settlement violations, NYT says
Subscribe for More Information | | | 07:45 EDT |  | BAC | Bank of America legal news a significant positive, says JPMorgan
JPMorgan notes that late on Friday, New York State Attorney General, Delaware State Attorney General, and Federal Housing Finance Authority said they will no longer object to Bank of America's (BAC) $8.5B mortgage settlement with private investors that was first agreed upon in 2011. JPMorgan views the development as significant positive legal news for Bank of America since several objectors to the settlement have now been removed. The firm adds, however, that few objectors remain, most notably AIG (AIG). JPMorgan keeps an Overweight rating on shares of Bank of America. | | | 07:30 EDT | | BAC | Objections to BofA mortgage-backed securities settlement removed, WSJ reports
Subscribe for More Information | | | 07:17 EDT |  | BAC | Summit Business Media holds a conference
Subscribe for More Information | | | 06:07 EDT | | JPM | Warren Buffett says JPMorgan has the 'right CEO'
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