Tag Archives: FNMA.OB

Wall Street Breakfast: Must-Know News

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French economy slips into recession. France slid into recession during Q1 as the French economy contracted 0.2% Q/Q after shrinking by the same amount in Q4. With unemployment at record levels and President François Hollande’s popularity at all-time lows, the country faces an uphill battle to right the ship as it struggles to bring its deficit in line with the EU-mandated 3%, while simultaneously restoring growth. Economists project a 0.2% contraction for the full year and a survey of French citizens shows just 11% believe Hollande can bring down the jobless rate by year’s end.

CBO slashes deficit estimate. The federal deficit will narrow to $642B in the fiscal year ending in September, the CBO said Tuesday — a meaningful improvement from February’s projection of $845B. The revision comes courtesy of higher tax receipts and dividend payments to the Treasury from Fannie (FNMA.OB) and Freddie (FMCC.OB).


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Are Any Of Your Stocks Members Of The Triple Digit Club?

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Hickey and Walters (Bespoke) submit:

With a 10% rally in the S&P 500 during the first quarter, it has certainly been a good year for equities so far. It has been so good, in fact, that there are twenty US stocks that began the year with a market cap of more than $100 million that have seen year to date gains of 100% or more in the first quarter. Topping the list are shares of AMR (AAMRQ.PK), the parent company for American Airlines with a gain of 422%. Even though the company is in bankruptcy, it may have just seen its largest three month rally ever.

While you may have never heard of a lot of the names on the list, there are actually ten companies that have average daily volumes of more than 500K shares. The most


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Interesting Developments In Fannie Mae And Freddie Mac

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By David Sims:

With the volatile swings in Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) shares over the past week, many investors have been left scratching their heads. The biggest impetus for a stock rally appears to be the possibility that Fannie Mae will recognize its massive Deferred Tax Asset with its 4th-Quarter 2012 earnings. Earnings have been delayed as the accountants, regulators, and politicians deliberate. It’s reported to be more than $60 billion and has been building up over the years with a valuation allowance against it to offset its value.

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Outside of these facts, it’s hard to imagine why Fannie Mae common stock would more than double. Last August 17, the Treasury instituted a dividend sweep of each GSE’s net worth that will potentially pull every single cent of profit to the Treasury. However, with the recognition of the Deferred Tax Assets in


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Wall Street Breakfast: Must-Know News

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Wall Street Breakfast Editors submit:

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Cyprus seeks salvation in Russia and the Church. Cypriot President Nicos Anastasiades has been holding emergency meetings with party leaders and troika representatives after the country’s parliament rejected a proposal to tax bank deposits as part of an EU bailout. Salvation could come from Cyprus’s orthodox church, which has offered to mortgage its considerable assets in order to invest in government bonds. Meanwhile, Finance Minister Michael Sarris is in Moscow to see if he can get a deal out of the Russians.

American Realty offers $5.7B for Cole Credit Property Trust. American Realty Capital Properties (ARCP) has offered to acquire Cole Credit Property Trust for $5.7B in cash and stock, or over $9B including debt, in a deal that would create the biggest publicly traded REIT in the net lease sector. American Realty has also asked Cole to end the purchase of its external adviser, Cole


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Wall Street Breakfast: Must-Know News

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Wall Street Breakfast Editors submit:

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Cyprus scraps proposed tax on small deposits. The crisis in Cyprus has again hit global markets – although not by as much as yesterday – ahead of a scheduled vote in the country’s parliament at 6 pm local time (12 pm ET) about whether to approve a raid on bank deposits. The latest draft bill scraps the proposed levy on deposits of under €20,000 but doesn’t make up for the “lost” revenue by increasing the tax on larger accounts.

Boeing wins massive Ryanair order for 175 737 jets. Boeing (BA) has obtained an order for 175 737-800 jets from Dublin-based Ryanair (RYAAY) in a deal worth $15.6B at list prices. The booking should make up for some of Boeing’s hurt at losing out on a $24B order from Indonesia’s Lion Air.

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ARM CEO Warren East to retire. ARM Holdings (ARMH) CEO Warren


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