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Stock Market & Financial Investment News

News Breaks
November 20, 2012
11:30 EDTMBI, BACMBIA says Bank of America tender offer not in best interest of note holders
MBIA Inc. (MBI), the parent of MBIA Insurance Corporation, announced that it recommends rejection of the unsolicited tender offer by Bank of America Corporation (BAC) on November 13 to purchase all of MBIA’s outstanding 5.70% Senior Notes due 2034. MBIA said it believes that BOA’s tender offer is not in the best interest of the holders of the Notes because, "as reflected in BOA’s own public statements, we believe the purpose of BOA’s tender offer is not to make an economic investment in MBIA Inc.'s debt securities, but rather to affect the outcome of MBIA Corp.'s RMBS-related put-back claims against BOA and obtain a preferential settlement of those claims and its other MBIA Corp. exposure. Such an outcome would be detrimental to all policyholders other than BOA; and, in combination with BOA’s stated intention that the consent solicitation amending the bond indentures fail, detrimental to all MBIA Inc. bondholders." MBIA also stated, "BOA has retained a right to terminate the tender offer under a number of specified circumstances, significantly reducing the likelihood that the transaction will be completed." MBIA said it is evaluating its legal options with respect to BOA’s tender offer, including whether it violates any applicable laws, and may take such actions as it believes are available to it and necessary to protect the interests of its insurance subsidiaries' policyholders and its security holders.
News For MBI;BAC From The Last 14 Days
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September 26, 2014
16:01 EDTBACOptions Update; September 26, 2014
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September 25, 2014
16:00 EDTBACOptions Update; September 25, 2014
iPath S&P 500 VIX Short-Term Futures up 2.09 to 30.38. Option volume leaders: AAPL TSLA NFLX BAC TWTR AMZN BP PBR GILD DOW according to Track Data.
15:10 EDTBACHolder resignation as AG positive for banks, says Rafferty Capital
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08:00 EDTBACBuy American Express and Bank of America into earnings, says Morgan Stanley
Morgan Stanley says to buy American Express (AXP) and Bank of America (BAC) going into Q3 earnings. The firm expects American Express to report accelerated credit card spending growth and views valuation as compelling and views Bank of America is a play on rising rates and improving expenses.
September 24, 2014
15:04 EDTBACGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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September 23, 2014
15:33 EDTBACBofA announces $10B Catalytic Finance Initiaive, to committ $1B in capital
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September 22, 2014
10:00 EDTBACBank of America rallies, levels to watch
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September 20, 2014
19:48 EDTBACBank of America could climb over 50%, Barron's says
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September 19, 2014
16:00 EDTBACOptions Update; September 19, 2014
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September 18, 2014
16:00 EDTBACOptions Update; September 18, 2014
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14:08 EDTBACBanks look to high-interest personal loans to boost revenue, WSJ says
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September 17, 2014
16:00 EDTBACOptions Update; September 17, 2014
iPath S&P 500 VIX Short-Term Futures down 24c to 27.63. Option volume leaders: AAPL TSLA BAC TWTR AMZN X WLT KO PBR according to Track Data.
13:16 EDTBACHolder says DOJ looking to charge bank executives, Washington Post says
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06:54 EDTBACNY Attorney General announces NYC bank identity-theft ring takedown
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September 16, 2014
16:00 EDTBACOptions Update; September 16, 2014
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14:44 EDTBACVirginia AG files $1.15B lawsuit against banks that sold RMBS during crisis
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13:15 EDTBACBank of America gives up $6B in revenue with new consumer strategy, Reuters says
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11:54 EDTBACBank of America reportedly cutting jobs in NY, Houston, DealBreaker says
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07:43 EDTBACRBC Capital to hold a conference
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06:03 EDTBACHuntington Bancshares completes acquisition of 24 Bank of America branches
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