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Stock Market & Financial Investment News

News Breaks
March 20, 2013
07:46 EDTMBI, BAC, CSMBIA risks running out of cash within four months, NY Post says
MBIA (MBI) may run out of cash in about four months and if its cash flow problems are not resolved shortly, state regulators will likely step in and seize the unit that insures mortgage securities, according to The New York Post. MBIA, which is involved in suits with Bank of America (BAC), Credit Suisse (CS) and Ally Financial’s ResCap unit, has a goal of collecting $3.6B from claims against the banks. To reach its goal, MBIA would need to collect $3B from BofA, but that bank wants to settle for closer to $1B, the report said, citing a source. Reference Link
News For MBI;BAC;CS From The Last 14 Days
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August 21, 2014
09:03 EDTBACBank of America to pay $16.65B in settlement with DOJ, Bloomberg reports
08:41 EDTBACBank of America, DOJ settlement to be announced today, CNBC reports
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06:43 EDTBACRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
18:29 EDTBACBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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17:12 EDTBACOn The Fly: Closing Wrap
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14:35 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
Bank of America along with federal and state authorities agreed upon a $17B settlement for the bank in connection with the sale of mortgage-backed securities in the run-up to the 2008 financial crisis, says AP. Reference Link
14:20 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
08:38 EDTBACRevolution Lighting enters loan, security agreement with BofA
Revolution Lighting (RVLT) announced that it has entered into a three year loan and security agreement with Bank of America (BAC). The agreement allows Revolution Lighting to borrow up to $25M on a revolving basis. Borrowings under the agreement are determined on specified percentages of eligible receivables and inventory, and bear interest either on the base rate plus specified margins or at LIBOR plus specified margins, at the election of Revolution Lighting. The loan provides Revolution Lighting with favorable interest rates with an initial interest rate of 3%. The agreement contains customary covenants and restrictions typical of these agreements.
August 19, 2014
06:20 EDTBACBofA COO transfers, senior manager assumes role, Bloomberg says
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August 18, 2014
06:47 EDTBACU.S. banks consider Ireland fitting spot for EU divisions, FT says
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August 17, 2014
13:30 EDTCSCredit Suisse played role in Banco Espírito Santo demise, WSJ says
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August 15, 2014
10:07 EDTBACBank of America reports July default rate 3.01% vs. 3.24% last month
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10:01 EDTMBIOn The Fly: Analyst Upgrade Summary
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09:10 EDTMBIOn The Fly: Pre-market Movers
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07:35 EDTMBIMBIA upgraded to Buy from Neutral at BTIG
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August 14, 2014
08:28 EDTBACBofA, DOJ still in talks over $17B settlement, NY Post says
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August 12, 2014
09:35 EDTBACActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GOOG C TSL EXAS BAC DNDN JNJ TSLA
07:48 EDTBACBanks posted second-highest profit in 23 years in second quarter, WSJ says
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August 8, 2014
09:37 EDTBACActive equity options trading on open
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07:18 EDTBACRegulators direct banks to steer mortgage aid to hard-hit areas, FT says
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