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Stock Market & Financial Investment News

News Breaks
August 30, 2013
08:57 EDTRDN, MTG, FMCCRadian rises after striking deal with Freddie Mac
Shares of Radian Group (RDN) are trading higher in the pre-market session after its mortgage insurance subsidiary, Radian Guaranty, announced an agreement with Freddie Mac (FMCC) regarding a group of delinquent mortgage loans held by Freddie Mac that were insured by the Radian unit. WHAT'S NOTABLE: The agreement, which covers 25,760 first-lien mortgage loans that were delinquent as of December 31, 2011, caps Radian Guaranty’s total exposure on this group of loans to $840M. Radian Guaranty paid approximately $255M to Freddie Mac to cover claim exposure on these loans, and had previously paid $370M of claims on these loans. Radian said it expects to record an incurred loss of approximately $20M in its fiscal third quarter in connection with the deal. PRICE ACTION: Shares of Radian were up nearly 7% to trade above $14 in the pre-market session. OTHER'S TO WATCH: MGIC Investment (MTG), which is also a private mortgage insurer, was up nearly 4% in pre-market trading.
News For RDN;MTG;FMCC From The Last 14 Days
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September 30, 2014
12:49 EDTRDNRadian Group looking to monetize Financial Guaranty business
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07:45 EDTMTG, RDNJMP Securities to hold a conference
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September 26, 2014
06:39 EDTRDNRadian Group management to meet with JMP Securities
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September 23, 2014
06:22 EDTMTGMGIC Investment management to meet with JMP Securities
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September 17, 2014
13:28 EDTFMCCWells Fargo eases lending requirements for buying apartments, Financial Times says
Wells Fargo (WFC) is easing lending requirements for apartment purchases, reports the Financial Times. In an interview, the head of Wells Fargo mortgage production Franklin Codel said, “We’re tweaking our condo approvals to make them more consistent with what Fannie Mae (FNMA) and Freddie Mac (FMCC) allow." Reference Link
10:00 EDTRDNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AB InBev (BUD) upgraded to Hold from Sell at Societe Generale... Baker Hughes (BHI) upgraded to Outperform from Sector Perform at Howard Weil... Bank of the Ozarks (OZRK) upgraded to Buy from Hold at BB&T... Bill Barrett (BBG) upgraded to Buy from Neutral at Mizuho... Cepheid (CPHD) upgraded to Buy from Hold at Cantor... Cigna (CI) upgraded to Positive from Neutral at Susquehanna... Extra Space Storage (EXR) upgraded to Buy from Hold at Jefferies... GNC Holdings (GNC) upgraded to Outperform from Neutral at Wedbush... MB Financial (MBFI) upgraded at DA Davidson... Mondelez (MDLZ) upgraded to Buy from Hold at Societe Generale... Radian Group (RDN) upgraded to Buy from Neutral at Compass Point... Skullcandy (SKUL) assumed with a Overweight from Neutral at Piper Jaffray... Under Armour (UA) upgraded to Overweight from Neutral at Piper Jaffray.
06:16 EDTRDNRadian Group upgraded to Buy from Neutral at Compass Point
Compass Point upgraded Radian Group based on lower than expected losses in the legacy credit book and higher NIW estimates. Price target is $20.

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