MGIC (MTG) Fitch puts company on negative watch list. Plunges to $.70 from 52-week high of $14.99.
Pall Corporation (PLL) Profit falls 19%. Drops to $18.20 from 52-week high of $43.19.
Gibraltar (ROCK) Goldman Sachs says company could breach loan covenants. Sells off to $3.59 from 52-week high of $24.63.
Douglas A. McIntyre
MGIC Investment (MTG) Worries about mortgage defaults. Drops to $.93 from $15.
Johnson Controls (JCI) Moody’s downgrade. Off to $8.35 from 52-week high of $36.49.
Comtech Telecommunications (CMTL)- Ugly earnings. Drops to $19.56 from 52-week high of $51.21
Douglas A. McIntyre
MBIA Inc. (NYSE: MBI) is set to report earnings Tuesday, before the market opens. As the market has slid further, this troubled “guarantor” has gone with it and has again hit new 52-week lows this morning.
The prior 52-week range was $2.51 to $19.08, and it hit reached $2.42 this morning. This was over a $60.00 stock in 2007. It is hard to imagine that this beaten and battered stock has much influence or relevance any longer, but it still is followed.
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MGIC Investment (MTG) Money still moving out of bond insurers. Down to $8.75 from 52-week high of $62.94.
US Airways Group (LCC) Oil prices up driving airlines down. Company say fuel bill could move up $2 billion of year. Down to $3.11 from 52-week high of $36.81.
Royal Bank of Scotland (RBS) Still dropping for losses and concerns about balance sheet. Down to $4.18 from 52-week high of $11.50.
Bank of America (BAC) Worries over losses and buy-out of Countrywide (CFC) Sells down to $28.93 from 52-week high of $52.96.
Merrill Lynch (MER) Brokerage stocks still being hurt by Lehman (LEH) results. Sell off to $35.66 from 52-week high of $91.95.
Continental Airlines (CAL) Like the rest, pressured by high fuel prices. Drops to $12.08 from 52-week high of $39.79.
Gatehouse (GHS) Newspaper stocks continue to fall. Dips to $3.18 from 52-week high of $19.60.
East West Bancorp (EWBC) Regional banks keep falling on mortgage concerns. Drops to $9.86 from 52-week high of $40.88.
Douglas A. McIntyre
These are not the only calls that will be impacting stocks, but these are the initial calls that 247WallSt.com is focusing on this Monday morning:
Jon C. Ogg
April 21, 2008
Maguire (MPG) Possible sale of the company fails. Shares sell down to $12.42 from 52-week high of $38.08.
MGIC (MTG) Company closes common stock offering, dilution. Stock off to $9.60 from 52-week high of $67.05.
Wellpoint (WLP) Dowgrade from Lehman. Sells down to $43.02 from 52-week high of $90.
Apollo Group (APOL) Misses quarterly numbers. Down to $39.41 from 52-week high of $81.68.
VCA Antech (WOOF) No real news. Just drifting down. Hits low of $26.55 from 52-week high of $46.23.
Douglas A. McIntyre
Shares of Ambac Financial Group, Inc. (NYSE: ABK) are being crushed even harder today than yesterday by more than 60% to around $5.00. The problem is that Moody’s has put it under review for a possible downgrade and the company is "assessing the impact" this notice.
The implications of this are more than bad because of all the counter-party transactions that could collapse. But there could be one shot here, and that could be a man named Warren Buffett who runs a small company called Berkshire Hathaway (NYSE: BRK-A). Ambac shares have tumbled from $96.10 over the last year and around $5.00 this market cap is merely around $550 million. The company CEO is gone and the situation maybe nothing short of desperate. Buffett wouldn’t rule out the possibility of acquiring a bond insurer and he’s already opening up his own bond insurer.
The question is twofold here. First off, would Buffett bet the farm and take on a potentially ruined company even if it was just a subsidiary? Secondly, would Buffett be able to get some government guarantees or assurances that he wouldn’t be taking on limitless liability in a unit? We have said that many financial mergers may start being mandated rather than just preferred. Yes it is a bit controversial, but this is something that people in the financial sector are talking about. If Buffett does indeed come to the rescue, you can bet that the entity will be kept entire separated from the other insurance units inside the Berkshire Hathaway empire. Otherwise he’d be putting much much more at risk than just the initial investment.
When I started writing the stock was at $6.00…. now shares have dipped under $5.00. Normally this would be a situation where maybe the stock gets halted, but we aren’t in normal times. This is widespread panic and it is spreading into M B I A Inc. (NYSE: MBI) as well with its shares down 30% to under $10.00. MGIC Investment Corp. (NYSE: MTG) is trading down 15% to $13.60 today.
If Mr. Buffett really does want one of these insurers, they are his for the picking. If he sticks to his old mantra of buying only solid predictable companies, then he’s likely to just stick with his own new insurer. The only hope is that he thinks one of these have gone way below anything cheap.
Jon C. Ogg
January 17, 2008
These are not the only analyst calls impacting individual share prices, but these are the ones that 247WallSt.com is focusing on:
Jon C. Ogg
December 12, 2007
Radian Group (RDN) Mortgage insurance comanies being beaten to death. Drops to $9.72 from 52-week high of $67.35.
MGIC Investment (MTG) Mortgage insurance company has big loss, cuts dividend. Falls to $16.28 from 52-week high of $70.10
AMBAC (ABK) Fixed income insurance. Down to $40.54 from 52-week high of $96.10.
Countrywide. (CFC) The company has done everything wrong but go out of business. Drops to $12.07 from 52-week high of $45.26.
Time Warner Cable (TWC) Bad numbers of of industry leader Comcast. Down to $29.25 from 52-week high of $44.
Palm Inc (PALM) Analyst downgrades. Hit low of $8.28 against 52-week high of $19.50.
Comcast Corp (CMCSA) Cable on its last legs. Drops to $20.82 from 52-week high of $30.18. Blame the phone company.
Douglas A. McIntyre
Noah Education (NED) New China IPO, gets pulled down by drop in region’s stocks. Drops to $16.50 from recent high of $23.70.
Moneygram (MGI) Fitch cuts rating. Falls to $17.67 from 52-week high of $35.18.
MGIC Investment (MTG) Analyst puts "underweight" rating on mortgage lender. Down to $20.09 from 52-week high of $70.10.
Angiotech Pharmaceuticals (ANPI) Cuts guidance and get downgrade. Down to $4.18 from 52-week high of $9.67.
Douglas A. McIntyre
We reviewed our different portfolios of key stocks to see which ones performed the best today, and it wasn’t just the financials as a general class. At the end of the day, Jim Cramer’s old list of stocks from his "Mortgage Madness Portfolio" took the cake.
This is the list: MGIC Investment (MTG), Countrywide (CFC), Bear Stearns (BSC), KB Home (KBH), Centex (CTX), Citigroup (C), Goldman Sachs (GS), Blackstone (BX), MBIA (MBI), Thornburg (TMA), Beazer (BZH), and Washington Mutual (WM).
We ran the screen right before the close, but take a look at how this portfolio did after the 50/50 dual rate cut from the FOMC today (Ticker; Price; Changes ($,%); 52-week range):
MTG $33.55 +$2.75 (+8.93%) $21.00-70.10
CFC $19.91 +$0.64 (+3.32%) $15.00-45.26
BSC $119.87 +$4.49 (+3.89%) $99.75-$172.61
KBH $29.27 +$1.15 (+4.09%) $25.95-$56.08
CTX $29.22 +$1.38 (+4.96%) $25.59-58.42
C $48.33 +$2.30 (+5.00%) $44.66-57.00
GS $200.53 +$12.92 (+6.89%) $157.38 – 233.97
BX $24.36 +$0.71 (+3.01%) $21.30 – 38.00
MBI $61.95 +$4.47 (+7.78%) $48.95 – 76.02
TMA $13.50 +$0.30 (+2.27%) $7.49 – 28.40
BZH $11.37 +$1.90 (20.06%) $8.10 – 48.60
WM $37.70 +$1.74 (4.84%) $31.27 – 46.38
If you added in Hovnanian (HOV) for it saving itself with a homebuilder firesale last weekend and add in Lehman Brothers(LEH) because of its better than expected (and far less bad) earnings from this morning, then this entire portfolio would be the hottest smoking portfolio.
This blew past the tech stocks from Cramer’s old "NEW FOUR HORSEMEN OF TECH" and it blew well past our list of defensive stocks we gave for crummy markets.
Jon C. Ogg
September 18, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
On tonight’s MAD MONEY on CNBC, Jim Cramer said that today and this week proves sometimes you can’t be too bullish. You need a measure for an ‘all-clear’ signal to see when the market is safe to go back into. Cramer thinks Bernanke should cut rates, particularly with more spending in Iraq than helping here for those about to lose their homes. Here are the tickers for his news "CRAMER’S MORTGAGE MADNESS INDEX":
MGIC Investment (MTG), Countrywide (CFC), Bear Stearns (BSC), KB Home (KBH), Centex (CTX), Citigroup (C), Goldman Sachs (GS), Blackstone (BX), MBIA (MBI), Thornburg (TMA), Beazer (BZH), and Washington Mutual (WM).
Cramer said he’s not saying these are buys and aren’t sells, not yet anyway. This index is just representative of the names that you have to watch because if these are still falling then it means there isn’t a stabilizing market or group.
Jon C. Ogg
August 3, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
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