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Stock Market & Financial Investment News

News Breaks
March 13, 2013
18:34 EDTDRLDoral Financial shares gain 9c, or 13.85%, after Q4 results
Doral Financial shares gained 9c, or 13.85%, to 74c during today's session after the company reported Q4 earnings this morning before the market open. Doral reported net income of $28.3M vs. a net loss of ($32.5M) in Q3, and net income of $11.7M in the same quarter a year ago. The company said it recognized an income tax benefit of $50.2M in Q4, which compared to a tax expense of $550,000 in Q3. The company said the $50.8M improvement was due mainly the conversion of Doral Insurance Agency to a limited liability company and the related release of a portion of Doral Financial's valuation allowance. Doral is holding a conference call to discuss its financial results at 10:00 am ET on March 14.
News For DRL From The Last 14 Days
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September 22, 2014
18:28 EDTDRLDoral Financial legal counsel issues statement as Hacienda trial concludes
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September 20, 2014
15:39 EDTDRLDoral Financial says Hacienda has put forth no evidence
Following the trial in the Doral Financial Corporation v. Hacienda court case, Doral Legal Counsel Matthew D. McGill issued the following statement: "For four months, Doral has been waiting for Hacienda to explain its attempt to nullify its $230M debt to Doral. Hacienda claimed that Doral obtained its 2012 tax agreement through a fraud, but after two days of trial, including testimony from Secretary Melba Acosta Febo herself, Hacienda has come forward with no evidence supporting that outrageous accusation. When this case is over, the people of Puerto Rico will have to ask whether they were well served by their government's unfounded attack on one of Puerto Rico's few remaining banks."

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