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Stock Market & Financial Investment News

News Breaks
March 25, 2013
15:43 EDTMBIMBIA May and August volatility elevated on wide price movement
MBIA April call option implied volatility is at 63, May is at 72, August is at 71; compared to its 26-week average of 66 according to Track Data, suggesting large May and August price movement.
News For MBI From The Last 14 Days
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October 7, 2014
12:17 EDTMBIMBIA notified of 'huge data leak,' KrebsonSecurity reports
The IT security blog KrebsOnSecurity reported that on Monday it notified MBIA (MBI) that a misconfiguration in a company server exposed customer account numbers, balances and other sensitive data and that the company "quickly disabled" the vulnerable site after being notified about the breach. The blog noted that data from Cutwater Asset Management, a subsidiary slated to be acquired by BNY Mellon (BK), was impacted. Reference Link
October 6, 2014
08:23 EDTMBIBNY Mellon confirms acquisition of Cutwater Asset from MBIA
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08:21 EDTMBIMBIA agrees to sell Sutwater Holdings to BNY Mellon subsidiary
MBIA (MBI) announced that it has signed an agreement to sell its wholly-owned subsidiary Cutwater Holdings to a subsidiary of BNY Mellon (BK). The company currently conducts its asset management advisory services business through Cutwater. The sale is expected to close at the beginning of the first quarter of 2015, subject to regulatory approval and other customary closing conditions. The transaction is expected to have a positive but immaterial impact on the company’s financial position and results of operations. The company also announced that it received a $220M dividend from its wholly-owned subsidiary National Public Finance Guarantee Corporation on October 3, 2014.

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