Market Currents

• Wednesday, December 23, 2009

• 11:17 AM Top mortgage insurer MGIC Investment (MTG -8.9%) has been sued by BofA's (BAC) Countrywide unit in a dispute over denied claims. MGIC's stock has slipped about 75% over a period covering nine straight quarterly losses. Comment!
• 09:00 AM Premarket gainers: PSDV +65%. CGEN +65%. BLDP +17%. TIBX +7%. STEM +7%. RHT +6%. TSEM +5%. IOC +4%.
  Losers: MTG -3%. Comment!

• Friday, December 4, 2009

• 09:00 AM Premarket gainers: BIG +13%. SNV +10%. LDK +10%. MRVL +9%. RDN +6%. GT +6%. JAVA +6%. AKAM +5%. RMBS +5%. SEED +5%. STEM +5%. PMI +4%. SOLF +4%. ID +4%. MTG +4%. RF +4%.
  Losers: TTWO -31%. SWHC -14%. GSS -8%. REG -5%. WES -5%. NG -4%. Comment!

• Tuesday, December 1, 2009

• 11:47 AM Radian Group (RDN) up 13% after the mortgage insurer's CFO Bob Quint says loan delinquencies are less than expected. New business has the lowest default rate in Radian's history. Other insurers climbing: [[MTG]] +7.5%, [[PMI]] +7.1%, [[AIG]] +9.9%. 2 Comments

• Monday, October 19, 2009

• 13:51 PM Weak third-quarter operating results, including delinquencies moving into prime loans, lead S&P to downgrade a unit of MGIC (MTG -3.3%) two notches, and to lower the outlook on the parent company to negative from stable. 1 Comment

• Friday, October 16, 2009

• 09:00 AM Premarket gainers: TRGT +23%. SPPI +7%. FAZ +6%.
  Losers: MTG -14%. MEA -7%. AMD -6%. FAS -6%. BAC -6%. SHO -5%. AIB -5%. CIT -5%. ING -4%. PMI -5%. IBM -5%. SNY -4%. AEG -4%. MT -4%. GNW -4%. SYMC -4%. Comment!
• 08:13 AM MGIC Investment (MTG): Q3 EPS of -$4.17 misses by $2.55. Revenue of $413M (-10.5%) vs. $437M. Shares -12.6% premarket. (PR) 6 Comments
• 00:05 AM Notable pre-market earnings: AOS, BAC, FHN, GE, GPC, HAL, MAT, MTG Comment!

• Thursday, July 16, 2009

• 13:54 PM Troubled mortgage insurer MGIC (MTG) goes from -14% premarket to +19%, amid reports it will stop writing new business and try to capitalize a fresh enterprise, hopefully with a Treasury investment. Fitch may downgrade the firm. Denninger: It's a disaster for housing. Comment!
• 09:00 AM Premarket gainers: BFRM +42%. MOS +11%. HGSI +7%. ING +6%. ELN +5%. BUCY +4%. ANPI +4%. SAY +4%. BIIB +4%. ESLR +4%. PCX +4%. SNDK +4%.
  Losers: NOK -12%. MTG -11%. SLT -10%. TRGT -8%. XLNX -6%. CELL -7%. RFMD -5%. MOT -5%. HOG -5%. AIG -4%. Comment!
• 07:09 AM MGIC Investment (MTG): Q2 EPS of -$2.74 misses by $1.54. Revenue of $454.5M (+7.1%) vs. $432.9M. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: APH, BAX, BIIB, CY, FCS, GPC, HOG, JPM, MAR, MMR, MTG, NOK, NXY, PPG Comment!

• Wednesday, May 13, 2009

• 13:15 PM S&P leaders: GM +7%. MRK +3%. PFE +3%. FHN +3%. JEC +3%. Laggards: GNW -24%. LIZ -23%. ODP -18%. MTG -16%. FITB -15%. DDR -15%. HBAN -14%. AKS -14%. HIG -13%. ATI -12%. GT -12%. ACAS -12%. IP -12%. MI -12%. MTW -12%. AIG -12%. RF -11%. JNY -11%. UIS -11%. PLD -11%. DOW -10%. CBG -10%. GCI -11%. MEE -10%. ZION -10%. TEL -9%. TIE -9%. LUK -9%. HAR -9%. MWV -9%. AA -9%. NUE -9%. XL -9%. WYN -9%. AIV -9%. MAS -9%. Comment!

• Wednesday, April 29, 2009

• 09:00 AM Premarket losers: ETFC -25%. MTG -9%. BCRX -8%. BWLD -8%. PNRA -6%. AET -6%. PMTC -5%. TXT -4%. NVAX -4%. SAP -4%. MT -4%. Comment!
• 07:30 AM MGIC Investment (MTG): Q1 EPS of -$1.49 misses by $0.12. Revenue of $435M (+2.7%) vs. $436M. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: ABX, AET, AMG, AMT, ARW, BHI, BKC, CNP, ENDP, FCN, GD, GT, HES, IACI, JNY, MCO, MHS, MT, MTG, MWV, NYB, PX, Q, RAI, RDS.A, ROK, SAP, SEE, SI, SO, SPIL, SPW, TEL, TLM, TWC, TWX, UMC, VPHM, WMI, WYE, WYN Comment!