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Stock Market & Financial Investment News

News Breaks
March 5, 2014
04:55 EDTC, C, HIG, HIG, UNM, UNM, FNF, FNF, EV, EV, MTG, MTG, NTRS, NTRS, BOKF, BOKF, RF, RF, AXP, AXPBernstein to hold a summit
1st Annual Financials Summit is being held in Boston on March 5-6.
News For C;RF;BOKF;NTRS;MTG;EV;FNF;UNM;HIG;AXP From The Last 14 Days
Check below for free stories on C;RF;BOKF;NTRS;MTG;EV;FNF;UNM;HIG;AXP the last two weeks.
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July 14, 2014
07:01 EDTCCitigroup to take charge of approximately $3.8B pre-tax in Q2
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07:01 EDTCCitigroup to settle DOJ, FDIC claims for $7B
Citigroup announced that it has reached an agreement to settle the ongoing investigation of the Residential Mortgage-Backed Securities Working Group, part of the Financial Fraud Enforcement Task Force. Today’s agreement resolves actual and potential civil claims by the U.S. Department of Justice, several state attorneys general and the Federal Deposit Insurance Corporation relating to RMBS and collateralized debt obligations (CDOs) issued, structured or underwritten by Citi between 2003 and 2008. Under the terms of the settlement, Citigroup will pay a total of $4.5B in cash and provide $2.5B in consumer relief. The cash portion consists of a $4 billion civil monetary payment to the DOJ and $500M in compensatory payments to the State AGs and the FDIC. The consumer relief will be in the form of financing provided for the construction and preservation of affordable multifamily rental housing, principal reduction and forbearance for residential loans, as well as other direct consumer benefits from various relief programs. Citigroup has agreed to provide the consumer relief by the end of 2018. Michael Corbat, CEO of Citigroup, said, “The comprehensive settlement announced today with the U.S. Department of Justice, state attorneys general, and the FDIC resolves all pending civil investigations related to our legacy RMBS and CDO underwriting, structuring and issuance activities. We also have now resolved substantially all of our legacy RMBS and CDO litigation. We believe that this settlement is in the best interests of our shareholders, and allows us to move forward and to focus on the future, not the past.”
07:00 EDTCCitigroup announces settlement with RMBS Working Group
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05:51 EDTMTGStocks with implied volatility movement; MTG LNCO
Stocks with implied volatility movement; MGIC Investment (MTG) 59, LinnCo (LNCO) 23 according to iVolatility.
July 13, 2014
20:31 EDTCCitigroup's $7B U.S settlement on mortgages expected Monday, Reuters says
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July 11, 2014
15:59 EDTCOptions Update; July 11, 2014
iPath S&P 500 VIX Short-Term Futures down 33c to 28.25. Option volume leaders: AAPL C GILD X FB GOOG AMZN TWTR TSLA according to Track Data.
15:44 EDTCCitigroup technical comments ahead of results
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15:28 EDTCCitigroup July 47 straddle priced for 2.8% move into Q2
15:11 EDTMTGMGIC Investment expects would meet requirements of draft PMIERs
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15:10 EDTMTGMGIC Investment says beginning talks to modify existing reinsurance
MGIC, the principal subsidiary of MGIC Investment Corporation, said its preliminary assessment of the draft private mortgage insurer eligibility requirements released by FHFA for public input was that MGIC's Available Assets would be materially less than its Minimum Required Assets at both the projected effective date and two years thereafter and that we had alternatives to mitigate the shortfall. Using the factors and definitions in the Draft PMIERs, MGIC believes that its Available Assets, at December 31, 2014, would be approximately $5.3B and the Minimum Required Assets would be approximately $5.9B, resulting in a shortfall of approximately $600M. MGIC believes this shortfall would be reduced through operations so that at the end of the two-year transition period it would be approximately $300M. The shortfall projections at both dates include receiving full credit for MGIC's existing reinsurance, approximately $500M of credit at December 31, 2014, increasing to $600M of credit two years later. "However, we do not expect to receive full credit for our current reinsurance. As a result, we are beginning discussions with the reinsurance market to modify our existing reinsurance so that any reduction for reinsurance credit would be minimized," the company said.
15:08 EDTMTGMGIC sees available assets about $5.3B based on draft PMIERs
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14:52 EDTMTGMGIC Investment trading halted, pending news
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12:36 EDTMTGOn The Fly: Midday Wrap
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12:12 EDTCCitigroup to host conference call
Management holds a 2Q Fixed Income Investor Review conference call on July 18 at 11 am. Webcast Link
10:28 EDTCURS Corporation working with banks on potential sale, Reuters reports
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10:00 EDTMTGOn The Fly: Analyst Downgrade Summary
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09:37 EDTCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
09:09 EDTMTGOn The Fly: Pre-market Movers
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08:14 EDTMTGMGIC Investment downgraded to Buy from Conviction Buy at Goldman
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07:20 EDTCBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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