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Stock Market & Financial Investment News

News Breaks
February 28, 2014
06:25 EDTFHN, FMCCFirst Horizon enters definitive resolution agreement with Freddie Mac
First Horizon National (FHN) announced last night that it has entered into a definitive resolution agreement with the Federal Home Loan Mortgage Corp. (FMCC) regarding the loan repurchase process. The agreement with Freddie Mac follows an agreement with Fannie Mae that First Horizon entered into in Q4. First Horizon said the developments, along with other adjustments, will cause it to change its previously-reported consolidated net income available to common shareholders for the year ended December 31, 2013 by an insignificant amount. Specifically, First Horizon will report $23.8M, or 10c per common share.
News For FHN;FMCC From The Last 14 Days
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October 22, 2014
08:18 EDTFHNFirst Horizon acquires TrustAtlantic in stock, cash transaction
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October 20, 2014
15:08 EDTFMCCHousing regulator reveals plan to ease tight credit, NY Times says
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08:32 EDTFHNFirst Tennessee to offer Apple Pay
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October 19, 2014
16:17 EDTFMCCFannie Mae, Freddie Mac near deal to loosen lending, WSJ says
Fannie Mae (FNMA), Freddie Mac (FMCC) together with mortgage lenders are near to an arrangement that would lower barriers and lending standards on home buyers with weak credit, says the Wall Street Journal. Reference Link
October 17, 2014
12:26 EDTFMCCFannie Mae, Freddie Mac close to deal to boost mortgage lending, WSJ reports
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07:14 EDTFHNFirst Horizon targeting long-term NIM 3.5%-4% annualized
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07:12 EDTFHNFirst Horizon says NIM likely to decline to about 2.9% range
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07:03 EDTFHNFirst Horizon reports Q3 EPS , consensus 17c
Reports Q3 revenue $317.36M, consensus $282.29M. Reports Q3 Tier 1 capital ratio 14.37%. Reports Q3 net charge-offs 0.28%.
October 16, 2014
15:26 EDTFHNNotable companies reporting before tomorrow's open
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07:03 EDTFMCCThe FDIC to hold a symposium
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October 14, 2014
12:36 EDTFHNFirst Horizon unit selects Novantas
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October 10, 2014
08:07 EDTFMCCFairholme Funds files notice of appeal of Fannie/Freddie court ruling
Fairholme Funds filed a notice of appeal in the U.S. Court of Appeals for the District of Columbia of a ruling by District Court Judge Royce Lamberth that dismissed lawsuits filed by Fairholme and other plaintiffs against the U.S. Government. The lawsuits relate to the Fannie Mae (FNMA) / Freddie Mac (FMCC) Preferred Stock Purchase Agreement and subsequent amendments. Fairholme issued the following statement via its legal counsel, Charles J. Cooper of Cooper & Kirk, PLLC: “Fairholme believes strongly that the Net Worth Sweep – imposed four years after the financial crisis – was not authorized by the Housing and Economic Recovery Act of 2008 and must be unwound. Fairholme also believes strongly that the Federal Housing Finance Agency has contractual and fiduciary duties to the preferred shareholders of Fannie Mae and Freddie Mac, and that these duties can and will be enforced.”
05:57 EDTFMCCAckman added to Fannie, Freddie stakes, NY Post reports
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