The mortgage REIT sector (MORT -1%) continues under pressure, today led by Western Asset Mortgage (WMC -7.6%) as its book value blew up in Q1 thanks to portfolio losses. American Capital Agency (AGNC -1.5%) - which started the downturn when it reported losses 2 weeks ago - nears a 52-week low, Armour Residential (ARR -3.1%) hits one. One trader suggests Capstead Mortgage (CMO -1.4%) with a portfolio of mostly reset ARMs the least affected by rising rates. CYS Investments (CYS -0.7%) - trading at a 10% discount to book and also owning ARMs - is attractive as well. [View news story]
i agree, the company had a bad quarter, but the business model isnt broken. The dividend announcement in a few weeks will push $AGNC right back to $31.
More on Tesla: The company announces it's offering 2.7M shares (current value of $244M) and $450M in convertible debt due 2018 in a public offering. Elon Musk plans to buy $100M worth of shares - $45M through the offering, $55M through a private placement. Tesla expects $830M in gross proceeds. TSLA now +6.8% AH. [View news story]
More on Tesla: The company announces it's offering 2.7M shares (current value of $244M) and $450M in convertible debt due 2018 in a public offering. Elon Musk plans to buy $100M worth of shares - $45M through the offering, $55M through a private placement. Tesla expects $830M in gross proceeds. TSLA now +6.8% AH. [View news story]
My guess is that investors were worried about a bigger offering given the huge run in the stock. This is a relatively small sale, and the CEO is buying it hard, hence the pop.
More on Tesla: The company announces it's offering 2.7M shares (current value of $244M) and $450M in convertible debt due 2018 in a public offering. Elon Musk plans to buy $100M worth of shares - $45M through the offering, $55M through a private placement. Tesla expects $830M in gross proceeds. TSLA now +6.8% AH. [View news story]
Plus the underwriters option for an additional 405k shares and $67.5 in debt, plus the private placement to Musk.
"It is alarming that CommonWealth's (CWH +1.5%) board would take a mulligan," says Corvex and Related, commenting on the immediate re-appointment of a director after he failed to receive enough shareholder votes to remain. "They have complete and utter disregard for (shareholder) rights and will stop at nothing to further the Portnoy's self-serving agenda." The stock has turned nicely higher. Is it possible this act of chutzpah by the board was the last straw? [View news story]
I cant believe they'd re-appoint a director who didnt get enough votes. Its absurd. They'll be teaching this case study at business schools in a few years, no doubt about it.
The mortgage REIT sector (MORT -1%) continues under pressure, today led by Western Asset Mortgage (WMC -7.6%) as its book value blew up in Q1 thanks to portfolio losses. American Capital Agency (AGNC -1.5%) - which started the downturn when it reported losses 2 weeks ago - nears a 52-week low, Armour Residential (ARR -3.1%) hits one. One trader suggests Capstead Mortgage (CMO -1.4%) with a portfolio of mostly reset ARMs the least affected by rising rates. CYS Investments (CYS -0.7%) - trading at a 10% discount to book and also owning ARMs - is attractive as well. [View news story]
Lower long term bond prices would increase BV, and hurt the spread, not crater BV and increase spread
Catalysts Coming For Magnum Hunter Resources [View article]
Gary Evan's presentation today put a value on Eureka Hunter's assets of $750 mil to $1 billion (MHR owns 60%) and said that the company is still looking to add 30,000 or 40,000 acres to its Utica position, mostly by expanding on the fringes of its existing acreage.
Utica Results Next Catalyst For Magnum Hunter Resources [View article]
Gary Evan's presentation today put a value on Eureka Hunter of $750 mil to $1 billion (MHR owns 60%) and said that the company is still looking to add 30,000 or 40,000 acres to its Utica position, mostly by expanding on the fringes of its existing acreage.
More Wild Trading In Magnum Hunter Resources [View article]
Gary Evan's presentation today put a value on Eureka Hunter of $750 mil to $1 billion (MHR owns 60%) and said that the company is still looking to add 30,000 or 40,000 acres to its Utica position, mostly by expanding on the fringes of its existing acreage.
The mortgage REITs are lit up bright red (MORT -1.9%), again led by American Capital Agency (AGNC -3.5%) and American Capital Mortgage (MTGE -3%), with Annaly (NLY -3.1%) not far behind. Yes, the 10-year Treasury yield is a 3 bps higher, but there's also rare action in Fed Funds futures, now pricing in a whopping 50 bps in rate hikes by this time 2016. AGNC presents at the JMP Conference at 2 ET. [View news story]
Every central bank on earth is focused solely on keeping the credit markets open. Its hard to imagine short term credit markets drying up with the Fed and Japan both printing trillions of dollars a year.
Do Not Panic Out Of American Capital Agency [View article]
Historically, the stock runs into the dividend, allowing you to take advantage of the increase in price of the options to profit. You have to be careful to trade around the dividend dates tho.
The mortgage REIT sector (MORT -1%) continues under pressure, today led by Western Asset Mortgage (WMC -7.6%) as its book value blew up in Q1 thanks to portfolio losses. American Capital Agency (AGNC -1.5%) - which started the downturn when it reported losses 2 weeks ago - nears a 52-week low, Armour Residential (ARR -3.1%) hits one. One trader suggests Capstead Mortgage (CMO -1.4%) with a portfolio of mostly reset ARMs the least affected by rising rates. CYS Investments (CYS -0.7%) - trading at a 10% discount to book and also owning ARMs - is attractive as well. [View news story]
More on Tesla: The company announces it's offering 2.7M shares (current value of $244M) and $450M in convertible debt due 2018 in a public offering. Elon Musk plans to buy $100M worth of shares - $45M through the offering, $55M through a private placement. Tesla expects $830M in gross proceeds. TSLA now +6.8% AH. [View news story]
More on Tesla: The company announces it's offering 2.7M shares (current value of $244M) and $450M in convertible debt due 2018 in a public offering. Elon Musk plans to buy $100M worth of shares - $45M through the offering, $55M through a private placement. Tesla expects $830M in gross proceeds. TSLA now +6.8% AH. [View news story]
More on Tesla: The company announces it's offering 2.7M shares (current value of $244M) and $450M in convertible debt due 2018 in a public offering. Elon Musk plans to buy $100M worth of shares - $45M through the offering, $55M through a private placement. Tesla expects $830M in gross proceeds. TSLA now +6.8% AH. [View news story]
"It is alarming that CommonWealth's (CWH +1.5%) board would take a mulligan," says Corvex and Related, commenting on the immediate re-appointment of a director after he failed to receive enough shareholder votes to remain. "They have complete and utter disregard for (shareholder) rights and will stop at nothing to further the Portnoy's self-serving agenda." The stock has turned nicely higher. Is it possible this act of chutzpah by the board was the last straw? [View news story]
The mortgage REIT sector (MORT -1%) continues under pressure, today led by Western Asset Mortgage (WMC -7.6%) as its book value blew up in Q1 thanks to portfolio losses. American Capital Agency (AGNC -1.5%) - which started the downturn when it reported losses 2 weeks ago - nears a 52-week low, Armour Residential (ARR -3.1%) hits one. One trader suggests Capstead Mortgage (CMO -1.4%) with a portfolio of mostly reset ARMs the least affected by rising rates. CYS Investments (CYS -0.7%) - trading at a 10% discount to book and also owning ARMs - is attractive as well. [View news story]
Utica Results Next Catalyst For Magnum Hunter Resources [View article]
Catalysts Coming For Magnum Hunter Resources [View article]
http://yhoo.it/10oHx0Y
Utica Results Next Catalyst For Magnum Hunter Resources [View article]
More Wild Trading In Magnum Hunter Resources [View article]
http://yhoo.it/10oHx0Y
More Wild Trading In Magnum Hunter Resources [View article]
3 Reasons It's Time To Take Profits In Bank Of America Shares [View article]
More Wild Trading In Magnum Hunter Resources [View article]
The mortgage REITs are lit up bright red (MORT -1.9%), again led by American Capital Agency (AGNC -3.5%) and American Capital Mortgage (MTGE -3%), with Annaly (NLY -3.1%) not far behind. Yes, the 10-year Treasury yield is a 3 bps higher, but there's also rare action in Fed Funds futures, now pricing in a whopping 50 bps in rate hikes by this time 2016. AGNC presents at the JMP Conference at 2 ET. [View news story]
Do Not Panic Out Of American Capital Agency [View article]