Surety & Title Insurance

(PMI) Stock Market News for May 2, 2013 – Market News

Mixed domestic reports along with discouraging economic data from China dragged the major indices into negative territory. Weaker-than-expected corporate results also added to negative investor sentiment. These developments offset the optimism created by the Federal Reserve’s decision to continue...

2May2013 | | Comments Off on (PMI) Stock Market News for May 2, 2013 – Market News | Continued

(FNF) Fidelity National Financial Hits 52-Week High

On Apr 11, 2013, shares of Fidelity National Financial, Inc. (FNF) reached a 52-week high of $26.78.

Fidelity National has a consistent track record of acquisitions and partnerships to strengthen its existing lines of businesses....

21Apr2013 | | Comments Off on (FNF) Fidelity National Financial Hits 52-Week High | Continued

(MTG) MGIC Investment Corporation Raises Capital

MGIC Investment Corporation (MTG) has raised capital worth $1145.35 million. The capital has been raised in two parts with $695.25 million from the issue of shares and $450 million from the issue of 2.00% convertible senior notes due...

8Mar2013 | | Comments Off on (MTG) MGIC Investment Corporation Raises Capital | Continued

(PMI) Stock Market News for September 5, 2012 – Market News

A report suggesting contraction in US manufacturing activity took a toll on investor sentiment and benchmarks ended mostly lower on Tuesday. While markets looked en route for a bigger fall, tech-bellwether Apple’s shares rallied strongly to cut some of the losses by the end of the day.

The...

5Sep2012 | | Comments Off on (PMI) Stock Market News for September 5, 2012 – Market News | Continued

(FNF) Fidelity National Financial – Value – Zacks Rank Buy

Fidelity National Financial Inc.‘s (FNF) second quarter 2012 earnings surpassed the Zacks Consensus Estimate by 12.8%. This represents the third-straight quarter with a positive earnings surprise for this title insurance underwriter....

27Aug2012 | | Comments Off on (FNF) Fidelity National Financial – Value – Zacks Rank Buy | Continued

(FNF) Fidelity Prices Notes Worth $400 Million

In a concerted effort to fortify its long term financials and refinance an earlier debt, Fidelity National Financial, Inc. (FNF), is issuing notes worth $400 million. The company, on August 21, announced the pricing of the notes which...

25Aug2012 | | Comments Off on (FNF) Fidelity Prices Notes Worth $400 Million | Continued

(PMI) U.S. Jobless Data Shows Decoupling

This morning’s economic data is giving investors the clearest possible evidence of divergence in global economic growth outlook, with the U.S. economy decoupling from Europe and China. We have another better-than-expected read on Initial Jobless Claims in the U.S., while readings of the manufacturing...

9Apr2012 | | Comments Off on (PMI) U.S. Jobless Data Shows Decoupling | Continued

(PMI) European Central Bank Tries Quenching Thirsty Banks

The European Central Bank (ECB) has been overwhelmed by the rush for cheap three-year loans. The demand for these loans has far exceeded expectations — a fact that underscores the difficult times the banking system is going through.

A system...

24Dec2011 | | 0 comments | Continued

(PMI) PMI Group Incorporated – Bear of the Day

PMI Group Inc.’s (PMI) second-quarter operating loss was worse than the Zacks Consensus Estimate and widened year over year as the company continued to suffer mortgage losses. We expect losses and loss adjustment expenses from...

22Aug2011 | | 0 comments | Continued

(PMI) U.S. Manufacturing Outlook Not That Bad

The busy economic docket of this first day of July notwithstanding, Stocks may not do much today ahead of the July 4th weekend. But they have done plenty lately. In fact, the sharp gains in the last few days enabled the market to recoup earlier losses and effectively break-even for the quarter. And...

1Jul2011 | | 0 comments | Continued

(MTG) MTG Investment Corporation Downgraded to Neutral

We are downgrading our recommendation on the shares of MGIC Investment Corp. (MTG) to Neutral from Outperform, following the company’s first quarter 2011 results, which missed the earnings guidance due to higher paid losses, lower...

29Jun2011 | | 0 comments | Continued

(PMI) PMI Group Incorporated – Bear of the Day

PMI Group Inc’s (PMI) fourth quarter operating loss widened from Zacks Consensus Estimate due to continued large losses and lower premiums earned partially offset by lower underwriting and operating expenses. We expect losses...

5May2011 | | 0 comments | Continued

(PMI) PMI Group Analyst Downgrades Shares to Underperform

We have recently downgraded PMI Group Inc. (PMI) to Underperform, as we expect losses and loss adjustment expenses from mortgage insurance operations, increased valuation allowances, lower premiums earned and shrunken investment income...

18Feb2011 | | 0 comments | Continued

(ABK) Ambac Financial Group Plunges on Wider Loss

Share price of Ambac Financial Group Inc. (ABK) plunged approximately 23.3% on Tuesday to close at $1.12 after the company reported its first quarter 2010 adjusted net loss of $0.68 per share, compared with adjusted net loss of $3.22...

24May2010 | | 0 comments | Continued

(ABK) Ambac Financial Group Reverses Loss

After the closing bell on Thursday, Ambac Financial Group (ABK) reported fourth quarter earnings of $1.93 per share. Last year, the company reported a loss of $8.14 per share. Earnings were aided by tax benefit of $472 million and...

13Apr2010 | | 0 comments | Continued

(ABK) Ambac Financial Group Sees Moody’s Rating Cut

Last week, rating agency Moody’s cut Ambac Financial Group’s (ABK) debt rating to “C” from “Ca.” This move was fueled by Ambac’s announcement that it might seek bankruptcy protection if it is unsuccessful in restructuring...

30Mar2010 | | 0 comments | Continued

(ABK) Ambac Financial Group Unit Faces Standard & Poor’s Downgrades

Yesterday, the rating agency Standard & Poor’s slashed the rating of Ambac Assurance (“AAC”), a unit of Ambac Financial Group (ABK), to “R” from “CC.” This move was fueled by the announcement of the...

29Mar2010 | | 0 comments | Continued

(PMI) PMI Group Wins Freddie Mac Approval

California-based PMI Group Inc.’s (PMI) principal operating subsidiary PMI Mortgage Insurance Co. (“MIC”), announced yesterday that it has won approval from Freddie Mac (FRE)...

25Mar2010 | | 0 comments | Continued

(MBI) MBIA Incorporated Reports Smaller Loss

MBIA Inc.’s (MBI) fourth quarter operating loss of $1.16 per share was a penny more than the Zacks Consensus Estimate of a loss of $1.15. The company had reported a loss of $5.21 per share in the prior-year quarter. Results were...

3Mar2010 | | 0 comments | Continued

(MTG) MGIC Investment Corporation Sees Rating Action

Last week, rating agency Fitch withdrew its long-term issuer rating “B-“ of MGIC Investment Corp. (MTG) along with withdrawing the “BB-“ insurer financial strength rating of its subsidiary, Mortgage Guaranty Investment Corp....

19Jan2010 | | 0 comments | Continued

(ABK) Ambac Financial Group Sues Credit Suisse

Ambac Assurance Corp, a unit of Ambac Financial Group Inc. (ABK) has sued Credit Suisse Group (CS), alleging the company misrepresented the risks of mortgage-backed...

14Jan2010 | | 0 comments | Continued

(MBI) MBIA Downgraded to Underperform

We are downgrading our recommendation on the shares of MBIA Inc. (MBI) to Underperform as macroeconomic conditions continue to contribute to losses on the group’s structured finance products.

MBIA insures mortgage-backed securities...

13Jan2010 | | 0 comments | Continued

(MBI) MBIA Incorporated – Bear of the Day

We are downgrading our recommendation on the shares of MBIA Inc. (MBI) to Underperform as macroeconomic conditions continue to contribute to losses on the company’s structured finance products.

MBIA’s third quarter...

13Jan2010 | | 0 comments | Continued

(PMI) PMI Group Sells Entire Investment in RAM Holdings

PMI Mortgage Insurance Co., a division of PMI Group Inc. (PMI), said on Thursday that it has sold its entire investment in RAM Holdings Ltd. (RAMR), the holding company...

28Dec2009 | | 0 comments | Continued

(ORI) Standard & Poor’s Ratings Services Downgrades 5 Mortgage Insurers

Standard & Poor’s Ratings Services downgraded credit ratings of five U.S. mortgage insurers on Tuesday as losses of these mortgage insurers were bigger than S&P’s expectations. The rating agency also expects that unemployment will continue to rise through the second quarter of 2010...

23Dec2009 | | 0 comments | Continued

(ABK) Ambac Financial Group Falls Below NYSE Standards

Ambac Financial Group (ABK) yesterday announced that it has received notice from New York Stock Exchange (NYSE) that the company has breached the exchange’s listing standard with regard to its share price.

The NYSE requires...

10Dec2009 | | 0 comments | Continued

(ABK) Ambac Financial Group Faces Liquidity Crunch

In its quarterly filing on Monday, Ambac Financial Group (ABK) revealed that it is facing liquidity constraints. At the end of the third quarter of 2009, the company’s liquidity consisted of $164.7 million of cash, short term investments...

14Nov2009 | | 0 comments | Continued

(MBI) MBIA Incorporated Misses Earnings Estimates

MBIA Incorporated’s (MBI) third quarter operating loss of $3.50 per share substantially missed the Zacks Consensus Estimate of a loss of 99 cents per share. Last year, the company had reported a loss of $3.42 per share. Results were...

11Nov2009 | | 0 comments | Continued

(PMI) PMI Group’s Loss Lowers

PMI Group, Inc.’s (PMI) third quarter loss from continuing operations came in at $1.06 per share, much better than the Zacks Consensus estimated loss of $1.38. This was also better than the loss from continuing operations of $1.83...

9Nov2009 | | 0 comments | Continued

(ABK) Ambac Financial Group’s Loss is Wider than Expected

Ambac Financial Group’s (ABK) third-quarter loss of $2.35 per share was wider than the Zacks Consensus Estimate of a loss of $1.22 per share. Last year, the company had reported a loss of $7.81 per...

8Nov2009 | | 0 comments | Continued