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News For MBI;BAC From The Last 14 Days Check below for free stories on MBI;BAC the last two weeks. |
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| May 7, 2013 | | 13:01 EDT |  | BAC | AIG can sue BofA over mortgages, judge says, WSJ reports
A federal judge has ruled that American International Group (AIG) has the right to sue Bank of America (BAC) over more than $7B of mortgage-investment losses, reports the Wall Street Journal. U.S. District Judge Mariana Pfaelzer said that AIG did not give up its right to pursue certain legal claims when it unloaded the investments as part of its 2008 bailout. Reference Link | | | 12:40 EDT |  | MBI | Options with decreasing implied volatility: FIRE EBIX MBI UNXL SWI
| | | 11:26 EDT |  | MBI, BAC | MBIA rally continues after Bank of America settlement
 Subscribe for More Information | | | 10:20 EDT | | BAC | Banks accused of restraining swaps market competition, Bloomberg says
A sheet metal workers union in Cleveland claimed in federal court that Goldman Sachs Group (GS), Citigroup (C) and 10 other banks have restrained market competition" for credit default swaps, violating U.S antitrust law, says Bloomberg. Other banks named in the complaint include Bank of America (BAC), Deutsche Bank (DB), and UBS (UBS), added Bloomberg. Reference Link | | | 09:38 EDT | | MBI, BAC | Active equity option families trading
Subscribe for More Information | | | 09:17 EDT | | MBI, BAC | On The Fly: Pre-market Movers
Subscribe for More Information | | | 05:50 EDT | | BAC | Mortgage lenders ease standards for 'prime' borrowers, WSJ reports
Subscribe for More Information | | | May 6, 2013 | | 16:39 EDT |  | MBI, BAC | On The Fly: Closing Wrap
The Wall Street averages were mixed as a light news flow and light volume did little to catalyze a further advance. Still, with its positive close, the S&P 500 managed to set a new all-time closing high. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Bank of America (BAC) and MBIA (MBI) announced a comprehensive settlement to resolve all claims between the two companies. As part of the settlement, Bank of America will pay MBIA $1.6B in cash, receive warrants to purchase a 4.9% equity stake in MBIA and provide a $500M credit facility to the bond insurer. Bank of America also said it would take $1.3B in Q1 charges related to the settlement and that its first quarter earnings would be negatively impacted by 10c per share. Shares of MBIA, which spiked higher near noon after Dow Jones first reported the settlement, closed up $4.46, or 45.37%, to $14.29. Bank of America shares added 64c, or 5.23%, to $12.88... A team of private-equity firms led by Bain Capital and Golden Gate Capital agreed to buy BMC Software (BMC) for $46.25 per share in cash, or $6.9B. BMC shares, which have added more than 14% year-to-date amidst reports of negotiations for the deal, closed unchanged at $45.42. MAJOR MOVERS: Among notable gainers was Arkansas Best (ABFS), up $4.18, or 39.62%, to $14.73 after reaching a tentative labor agreement with the Teamsters union. Also higher was Tesla (TSLA), up $4.95, or 9.07%, to an all-time closing high of $59.50 after Barclays raised its price target on shares to $56 from $38 and the company named Aston Martin's lead vehicle engineer as VP of vehicle engineering. Among the noteworthy losers were LINN Energy (LINE), down $1.97, or 5.21%, to $35.75, and its spin-off LinnCo (LNCO), down $2.59, or 6.2%, to $39.24, following a cautious mention in this weekend's Barron's magazine. Also lower were shares of Tyson Foods (TSN), down 83c, or 3.33%, to $24.10 after its earnings report. INDICES: The Dow was down 5.07, or 0.03%, to 14,968.89; the Nasdaq was up 14.34, or 0.42%, to 3,392.97; and the S&P 500 was up 3.08, or 0.19%, to 1,617.50. | | | 16:03 EDT | | MBI | Options Update; May 6, 2013
Subscribe for More Information | | | 15:51 EDT | | MBI | MBIA says settlement substantially improves liquidity, capital risk profile
Subscribe for More Information | | | | 15:48 EDT | | BAC, MBI | MBIA to receive $1.7B net payment in settlement with Bank of America
Subscribe for More Information | | | 15:44 EDT | | MBI, BAC | BofA receives warrants for 9.94M shares of MBIA stock as part of settlement
| | | 15:42 EDT | | MBI, BAC | MBIA to receive $1.7B net payment in settlement with Bank of America
Subscribe for More Information | | | 15:37 EDT | | MBI | MBIA trading halted, pending news
| | | 15:35 EDT | | BAC, MBI | BofA confirms settlement with MBIA, lowers Q1 EPS by 10c
Subscribe for More Information | | | 15:31 EDT |  | MBI, BAC | BofA says MBIA pact, related issues cuts Q1 net EPS by 10c per share
Subscribe for More Information | | | 15:29 EDT | | MBI, BAC | Bank of America confirms comprehensive settlement With MBIA
Subscribe for More Information | | | 12:59 EDT | | MBI, BAC | Bank of America, MBIA in $1.7B mortgage settlement, WSJ reports
Subscribe for More Information | | | 12:53 EDT | | BAC, MBI | On The Fly: Midday Wrap
Subscribe for More Information | | | 12:34 EDT | | MBI | MBIA volatility increases on settlement with BofA
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