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Stock Market & Financial Investment News

News Breaks
December 13, 2012
10:58 EDTMBI, BACMBIA rallies after analysts predict possible BofA settlement
Bond insurer MBIA (MBI) is climbing after Reuters last night quoted analysts as saying that the company's litigation with Bank of America (BAC) may be settled in early 2013. The bank's leverage over MBIA has decreased after the bond insurer won approval to change its debt structure, reducing the possibility that it will default, the news service quoted analysts at research firm CreditSights as saying. Moreover, Bank of America last week said that it was proceeding with an offer to buy some of MBIA's bonds, CreditSights noted, according to Reuters. The bank may be looking to buy the bonds in order to conceal the terms of its settlement with MBIA, CreditSights believes. Meanwhile, in a note to investors earlier today, MKM Research analyst Harry Fong wrote that MBIA made convincing arguments in favor of its summary judgement motion during its case against Bank of America. The bank's Countrywide unit significantly understated the risks carried by securities on which MBIA provided insurance, MBIA argued, according to Fong. MBIA showed very clearly that loan breaches were "rampant" in the Countrywide securities that it insured and Countrywide's counter arguments weren't convincing, Fong wrote. The analyst expects MBIA to obtain billions of dollars from Bank of America and he maintained an $18 price target and buy rating on MBIA. In mid-morning trading, MBIA jumped 64c, or 7.86%, to $8.78.
News For MBI;BAC From The Last 14 Days
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May 18, 2015
16:00 EDTBACOptions Update; May 18, 2015
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09:46 EDTBACMPLX enters common unit sales agreement for up to $500M
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09:36 EDTBACActive equity options trading on open
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May 15, 2015
16:01 EDTBACOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
10:20 EDTMBIOptions with decreasing implied volatility
Options with decreasing implied volatility: NLNK ARWR CTRP RAX KING AOL WPZ RL Z MBI
10:15 EDTBACBank of America reports April default rate 2.93% vs. 2.94% last month
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06:17 EDTBACBank of America CEO still struggles to move past financial crisis, WSJ reports
Five years into his job as Bank of America CEO, Brian Moynihan is still struggling to move past the financial crisis, which is testing his reputation as a "fixer" as well as the patients of investors who are concerned about his progress in turning the bank around, The Wall Street Journal reports. Reference Link
May 14, 2015
16:00 EDTBACOptions Update; May 14, 2015
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May 13, 2015
09:39 EDTBACActive equity options trading on open
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07:29 EDTBACUBS to hold a conference
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May 12, 2015
14:13 EDTBACBove says it may be time to buy bank stocks
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May 11, 2015
16:41 EDTMBIMBIA reports Q1 EPS 37c, three estimates 16c
Reports Q1 revenue $219M, one estimate $111.90M. Reports adjusted book value per share $25.78, vs. $24.87 prior quarter.
16:00 EDTMBI, BACOptions Update; May 11, 2015
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09:58 EDTBACBarclays expected to pay GBP2B to settle forex rigging charges, FT says
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09:37 EDTBACActive equity options trading on open
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08:18 EDTBACBanks executives seek to push back on 'false, damaging' statements, WSJ reports
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May 8, 2015
16:05 EDTBACOptions Update; May 8, 2015
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09:36 EDTBACActive equity options trading on open:
Active equity options trading on open: AAPL BABA FB DIS MSFT TSLA NFLX AMZN BAC
06:48 EDTBACBanks to erase debt of bankrupt consumers from reports, NY Times says
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06:35 EDTBACShareholder support for Bank of America board drops, Reuters says
None of the four Bank of America directors up for reelection this week received more than 71.9% of votes, according to Reuters. Last year, none of the directors received less than 98% of votes, the news service stated. Reference Link
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