Seeking Alpha

First Niagara (FNFG) has a 20% upside following its sale of MBS, with proceeds used to pay off...

First Niagara (FNFG) has a 20% upside following its sale of MBS, with proceeds used to pay off debt, says Jefferies. The bank CFO says the sale positions the lender to benefit when interest rates "ultimately rise" (what if they don't?). Some of the hoped for 20% may have already been realized as the shares rose 5.7% yesterday ahead of the news.
Comments (1)
  • kingdad
    , contributor
    Comments (1041) | Send Message
     
    If the stock FNFG which has been trading at depressed prices for a few months now suddenly jumped 5.7% just ahead of this news shouldn't the SEC be working overtime to BUST these insider traders?

     

    There is no way this stock jumps 5+% without some insider knowledge leaking out. Any bets that the SEC actually investigates?
    I/m giving odds NOTHING is Done as that is the SOP for the SEC.
    Ex holder of FNFG with intents to repurchase later this yr.

     

    Your thoughts?
    28 Jun 2012, 09:45 AM Reply Like
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