News Breaks |
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| December 13, 2012 |
| 10:58 EDT |  | MBI, BAC | MBIA 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. |
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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 17, 2013 |
| 16:00 EDT |  | BAC | Options Update; May 17, 2013
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| 14:55 EDT | | MBI | Bank of America reports 6.06% passive stake in MBIA
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| 10:20 EDT |  | BAC | Bank of America rises, levels to watch
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| 06:35 EDT | | MBI | Stocks with implied volatility below IV index mean; CSCO MBI
Stocks with implied volatility below IV index mean; Cisco (CSCO), MBIA (MBI) according to IVolatility. |
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| May 16, 2013 |
| 11:27 EDT | | MBI | Options with decreasing implied volatility: LNCO MBI OPK THRX SGMO
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| 07:18 EDT |  | BAC | Investors bet on banks hit by credit crisis, Bloomberg reports
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| 06:41 EDT | | BAC | Big banks to benefit from U.S. concession on derivatives, NY Times says
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| 05:56 EDT | | MBI | Stocks with implied volatility below IV index mean; RAX MBI
Stocks with implied volatility below IV index mean; Rackspace (RAX), MBIA (MBI) according to IVolatility. |
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| May 15, 2013 |
| 11:16 EDT | | MBI | Options with decreasing implied volatility: RAX CSC SPPI MBI PANL
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| 10:13 EDT | | BAC | Bank of America reports April card write-offs 4.55% vs. 4.33% last month
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| May 14, 2013 |
| 13:57 EDT | | MBI | MBIA Insurance Corp. in agreement with ResCap, Ally Financial
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| 10:53 EDT | | BAC | Bank of America breakout continues, levels to watch
The breakout back above what was persistent resistance at the $12.50 area has now taken on a firmer bullish footing. Shares are trading at multi-year highs, last at $13.25. At that price, resistance is now at $13.56 and then at $13.84. Support is at $13.01. |
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| 08:44 EDT |  | BAC | Bank of America management to meet with Deutsche Bank
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| 08:33 EDT | | BAC | CFTC investigates swap contracts, FT reports
The Commodity Futures Trading Commission issued a “special call” asking Wall Street banks and other traders to provide documents that would prove recent derivatives transactions known as “exchanges of futures for swaps” were legal. Lawyers at the CFTC enforcement division are also scrutinizing the trades for possible violations. The probe is into the legitimacy of more than 1M energy and metals transactions by the biggest traders in commodities markets over the past two years.Reference Link |
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| 06:19 EDT | | BAC | Brokerage firms see market share drop, competition increase, Bloomberg reports
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| 06:15 EDT | | MBI | Stocks with implied volatility below IV index mean; RAX IBM
Stocks with implied volatility below IV index mean; Rackspace (RAX), MBIA (MBI) according to IVolatility. |
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| May 13, 2013 |
| 15:04 EDT | | BAC | Fed says large banks must submit midyear stress tests on July 5
Eighteen large U.S. bank holding companies are required to submit the results of their company-run, midyear stress tests to the Federal Reserve on July 5, the Federal Reserve said. The Dodd-Frank Wall Street Reform and Consumer Protection Act required that large bank holding companies and non-bank financial institutions that are designated for Federal Reserve supervision by the Financial Stability Oversight Council conduct two stress tests each year. In the midyear test, which is being conducted for the first time in 2013, each firm develops its own baseline, adverse, and severely adverse scenarios to best reflect its individual operations and risks. Each firm in the midyear test is required to release the results produced under its severely adverse scenario, helping promote market discipline and understanding of the financial conditions and risks of individual firms, between September 15 and September 30, the Fed added. |
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| 11:07 EDT | | MBI | Options with decreasing implied volatility: EZCH MM MAKO MBI FOSL
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| 06:13 EDT | | MBI | Stocks with implied volatility below IV index mean; RAX MBI
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| May 10, 2013 |
| 16:01 EDT | | MBI | Options Update; May 10, 2013
CBOE Volatility Index VIX down 56c to 12.57. Option volume leaders: BIDU AAPL TSLA GOOG C MBI MGM according to Track Data. |
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