been waitin' for the train
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
LOL! His wife told him to buy on Monday.
A BIG WooHoo for the rest of us that did.
Credit to MTC Charts
Good call this morning Long
Looking forward to the rest,
1.20 works for me!
oops! too early, up 8% <eom>
S&P Assigns Negative Outlook To US Concrete >RMIX
Last update: 2/22/2010 2:44:34 PM(MORE TO FOLLOW)
Dow Jones Newswires (212-416-2400)
February 22, 2010 14:44 ET (19:44 GMT)
S&P Cuts US Concrete To 'CC' From 'CCC+'
The South Financial Group Recognized for Excellence in Small Business Banking
Last update: 2/19/2010 4:30:00 PM
GREENVILLE, S.C., Feb 19, 2010 (BUSINESS WIRE) -- The South Financial Group, Inc. (TSFG) was recently recognized as a national and regional winner of 2009 Excellence in Small Business Banking awards from Greenwich Associates. The South Financial Group is one of nineteen banks to be recognized in the "Overall Satisfaction" category on a national level. Carolina First Bank, The South Financial Group's banking subsidiary, operates as Carolina First in the Carolinas and Mercantile Bank in Florida.
"These awards illustrate our commitment to understanding the needs of business owners and working together to meet their specific needs," said Ernie Diaz, President of Mercantile Bank. David Lominack, Market President for Carolina First Bank, continued, "Delivering on our relationship banking model continues to be our goal, and these awards reflect the value our bankers place on exceeding customer expectations."
The South Financial Group was recognized in the following categories for Small Business Banking:
-- Overall Satisfaction, National Winner
-- Relationship Management Performance, National Winner
-- Overall Satisfaction, South Regional Winner
Greenwich Associates evaluated more than 750 banks across the country to determine the 2009 award winners. This evaluation was based on over 17,000 interviews with leaders at businesses with annual sales of $1 million to $10 million.
Anyone? What will their debt restructure entail?
I think the 10-K will be delayed for starters.
Also, just curious, how did today play-out?
Profits at open, buys at bottom, stopped-out along the way?
U.S. Concrete to Explore Alternatives to Improve Capital Structure
Last update: 2/19/2010 3:57:00
Engages advisors and amends Senior Credit Facility
HOUSTON, PRNewswire via COMTEX/ -- U.S. Concrete, Inc. (RMIX) today announced that it has engaged Lazard Freres & Co. LLC and AlixPartners as its financial advisors, and Kirkland & Ellis LLP as its legal advisor, to assist the Company in assessing potential alternatives to strengthen its balance sheet. These alternatives include addressing the Company's 8 3/8% senior subordinated notes due April 1, 2014.
U.S. Concrete also announced that it has entered into an amendment of its senior credit facility to, among other items, temporarily lower the springing fixed-charge coverage ratio availability trigger from $25 million to $20 million to provide the Company an additional $5.0 million in short-term liquidity until April 30, 2010. The Company also received a waiver through April 30, 2010 regarding a default for any non-payment of the interest payment on the senior subordinated notes due April 1, 2010. The full amendment will be attached as an exhibit to the Company's Form 8-K, which will be filed shortly.
"We believe that engaging in discussions with our bondholders to improve our capital structure and provide financial flexibility is in the best interest of the Company and its constituents," said Michael W. Harlan, U.S. Concrete's President and Chief Executive Officer. "As we have previously disclosed, we continue to face economic headwinds which, combined with the recent inclement weather we have experienced in each of our markets, has placed added pressure on our liquidity. We believe the amendment of our senior credit facility provides us with additional access to liquidity to continue to provide quality service and products to our customers throughout this process."
Ameritrade has stopped online buying
Name change close my guess. How do you think price will be affected? Any change to share structure?
I'm out, nice 16% week here
Let it rest, consolidate, and digest financial news
Do it again soon..
PMI 4Q Loss Widens
Bigger Loan Losses Outweigh Revenue Gain
Last update: 2/16/2010 6:30:14 AM
DOW JONES NEWSWIRES
PMI Group Inc.'s (PMI) fourth-quarter loss widened as the mortgage insurer's loss expenses outpaced a revenue gain.
Although revenue rose by nearly a third as improved markets gave PMI investment and credit-default-swap gains following losses a year earlier, its losses and loss-adjustment expenses surged even more than that, rising 38%. Its reserve for them also rose 20%.
Most housing-demand indicators weakened at the end of last year after months of strengthening, increasing losses mortgage insurers take from delinquencies and foreclosures. The companies, which cover potential lender losses on loans to borrowers who can't come up with a 20% down payment, saw claims skyrocket as the credit crunch made it more difficult for borrowers to refinance and for lenders to resell foreclosed properties.
PMI posted a loss of $228.2 million, or $2.76 a share, compared with a year-earlier loss of $178.8 million, or $2.19 a share.
Revenue increased 31% to $249.8 million because of gains rather than losses from investments and credit default swaps, but net premiums written fell 12%.
A survey of analysts by Thomson Reuters predicted a $1.67 loss on $180 million in revenue. PMI's U.S. mortgage-insurance operations loss widened as revenue climbed 11%. In December, Fitch Ratings downgraded PMI's mortgage insurance unit four notches because of increasing prime delinquencies.
In December, the company sold its entire investment in RAM Holdings Ltd., the holding company for RAM Reinsurance Ltd. PMI had impaired its investment in RAM Holdings the year prior and reduced the carrying value of the investment to zero.
PMI shares fell 4.6% to $2.30 in premarket trading.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com (END)
Dow Jones Newswires
February 16, 2010 06:30 ET (
Earnings reminder - Tuesday 6:00 a.m. EST
Although negative, an improvement over last quarter and year is expected.
I'll second that move!
A nice close after a good day. 650k up-tick at close and more A/H. None of the intraday sell-off. Can you say "GAPPER" - Been way too long.
Admit the 3 month doesn't look too impresive yet but shorter term indicators sure turned North. And even if this move fails, next week it will start hitting pincher scans, so we could get a lot of attention there.
Still waiting myself
A lot of potential here but just not investment grade right now.
"The next earnings announcement from RMIX is expected the week of March 1, 2010."
Ameritrade's estimate looks bad, -.72, much worse than last year.
I'm going to keep it on watch (I know what you're saying about infrastructure plays, but its just not working yet)
Need a few $1B contracts to get turned around IMO.
I don't see anything that unusual
The last S-8 was 8/7/09 for 500K
The convertibles do not appear to be restricted, so they would have hit the market long before now.
The O/S tripled in the last year, stock price fell by factor of 10
Those dont match, so I suppose large holders are wary of large commercial defaults to come.
The conference call did specify (unloading) high risk liabilities, so in a sense they have also written off future profits as well.
Quarterly Financial Data Supplement
Fourth Quarter 2009
Link to Report
Common share history - p.2
Average common shares outstanding,
For the quarters ended
December 31, 2009, 215,365,464
September 30, 2009 174,426,381
June 30, 2009 90,986,862
March 31, 2009 82,223,190
December 31, 2008 74,505,656
I forgot a third option - BUY BACK
It could happen!
Quit LOL.
Are you In or are you Waiting?
Another item of concern - Delisting
At least this is further off than I thought but OTC or R/S are going to be issues soon enough.
DEAR STUCK,
Sounds like several of us are suprised at the continued downtrend.
I am a firm believer in the bounce play after missed earnings. Analysts are just another part of market manipulation, I like to find cos. that can overcome that.
So maybe I'm too impatient, all financials in my watch list were in the red today! Given the current market sentiment and banking sector mandates, (NEVERMIND, there I go wanting to give this a positive spin, never works)
Disclosure: avg cost .584
I added at .44 but not sure I can follow this down further.
Need to go investigate those technicals and will get back to you ASAP
OUCH! I retract anything positive said about TSFG
the bottom, the bounce, the chart patterns,
What a crock?
Any rumor going around?
Mortgage Insurers Drop On Industry Data
Last update: 1/29/2010 5:36:30 PM
By Alistair Barr
Mortgage insurers fell Friday, led by MGIC Investment Corp. (MTG), after industry data showed home loan defaults increased at the end of 2009.
Mortgage Insurance Companies of America, an industry group, said there were 94,651 primary insurance defaults in December. That was up from 89,772 in November. So-called cures, which measure loan problems that have been resolved, were 61,032 last month, up from 55,437 in November, the industry group added.
MICA reports data from MGIC; PMI Group Inc. (PMI); Radian Group Inc. (RDN); United Guaranty, which is the mortgage insurance unit of American International Group Inc. (AIG); Genworth Financial Inc. (GNW); and Old Republic International Corp. (ORI).
Mortgage insurance helps home buyers who don't have enough money for a down-payment, which traditionally was 20% of the purchase price. As house prices have slumped rising defaults have sparked a surge in claims that have hit companies such as MGIC hard.
MGIC shares fell 7.2% to close at $6.05 on Friday. Radian declined 4.5% to close at $6.43, while PMI shed 3.2% to close at $2.15. Genworth climbed 1.5% to close at $13.84. The insurer said late Thursday that its U.S. mortgage insurance business lost $74 million during the fourth quarter. That was better, however, than losses of more than $100 million in the previous quarter. The improvement helped Genworth's overall fourth-quarter profit exceed analyst expectations. AIG shares gained 7 cents to close at $24.23 and Old Republic rose 1 cent to $10.59.
-Alistair Barr; 415-439-6400; AskNewswires@dowjones.com (END)
Dow Jones NewswiresJanuary 29, 2010 17:36 ET (22:36 GMT)
Great to see this enthusiasm here...
When I heard the news and saw the daily chart, I had one of those "I suck as a trader" moments. But, with you guys support, I realized this is Not That Bad. Hell, I was buying .58's just two weeks ago.
I start thinking, I could have easily flipped this for a quick $200, but looking at the chart, it could also easily be that 10-bagger we dream about. Patience and perseverance.
Thats two weeks of mostly negative performance
Not sure if its the market correction or more problems for the morgage sector. MBI kept gaining until the last two days.
I'm holding off until I get some good news. My gut feeling says earnings "not pretty", and more problems coming.
I do like to play the T/A so maybe a bounce just below 2.00
Looks fine to me, a little selloff is good
Lots of things were on sale today but I've already averaged up on this one, so as long as it can ride that 20-DMA, were in the money. Earnings will be the kicker.
Anybody watch BOFL today, I couldn't believe it. Why them? Not us.
PMI Announces Conference Call February 16,2010
January 14, 2010 (PR NewsWire)
The PMI Group, Inc. (NYSE: PMI) will host a conference call to review fourth quarter and full year 2009 financial results on Tuesday, February 16, 2010 at 9:00 a.m. PST (12:00 p.m. EST). Financial results for the fourth quarter and full year of 2009 will be released at approximately 3:00 a.m. PST (6:00 a.m. EST) on February 16, 2010.
The conference call and webcast can be accessed at PMI's website: http://www.pmigroup.com/shareholders/. The dial-in number for the conference call is (888) 790-9746 (U.S.) or 1-(210)-234-7030 (International). The passcode "PMI" is required to access the call. For those individuals who cannot listen to the call live, there will be a replay of the webcast and conference call available at this site approximately two hours after the call ends, and will be available for one month. A telephonic audio replay will be available approximately one hour after the call and can be accessed until March 17, 2010 by dialing (800) 365-0063. The passcode "5000" is required to access the audio replay.
Carolina First Bank Approved for Preferred Lender Status
Last update: 1/14/2010 4:30:01 PM
GREENVILLE, S.C., Jan 14, 2010 (BUSINESS WIRE) -- Carolina First Bank, the banking subsidiary for The South Financial Group, Inc. (TSFG), announced it has been approved as a preferred lender under the U.S. Small Business Administration ("SBA") Preferred Lender Program ("PLP"). Only the most experienced lenders are designated as PLP lenders and delegated the authority to process, underwrite, close, and service SBA guaranteed loans without prior SBA review.
"Carolina First is excited to receive this designation, which enhances our efforts to attract and strengthen our banking relationships with small businesses in the Carolinas and Florida," said Richard Bradshaw, Executive Vice President and Director of SBA Lending. "Plus, it's consistent with our overall relationship bank strategy. This includes targeting small business customers where we know our customers, understand their businesses, and provide outstanding service."
In August 2009, Richard Bradshaw joined Carolina First to establish and manage a SBA lending unit to generate new customers by focusing on small business lending opportunities in Carolina First Bank's North Carolina and South Carolina markets and Mercantile Bank's Florida markets. Bradshaw, who has over 20 years of banking experience, including 15 years of SBA experience, has hired 17 experienced SBA professionals for the new lending unit.
Nice, I had a lowball re-entry bid but it's just not working.
If we hold 1.00 this week, then my guess is launch time coming.
I hate to chase but this is looking very solid. (Got to get away from the financial sector, thats crazy right now.)
Dates for 4th Quarter 2009 Financial Results Release
Last update:1/8/2010 7:45:00 AM
GREENVILLE, S.C., Jan 08, 2010 (BUSINESS WIRE) -- The South Financial Group, Inc. (TSFG) announced it will release fourth quarter 2009 financial results on Tuesday, January 26, 2010 after the market closes. The press release and quarterly financial data supplement will be available at that time in the Investor Relations section of TSFG's website, . The South Financial Group will hold a conference call/webcast on Wednesday, January 27th at 10:00 a.m. ET to review fourth quarter financial results. Additional material information, including forward-looking statements such as trends and projections, may be discussed during the conference call. Financial review presentation slides will accompany the conference call/webcast and be available in the Investor Relations section of TSFG's website.
To participate in the conference call or webcast, please follow the instructions listed below.
Conference Call: Please call 1-888-405-5393 or 1-517-645-6236 using the access code "The South." A 7-day rebroadcast of the call will be available via 1-866-430-4720 or 1-203-369-0923.
Webcast: To gain access to the webcast, which will be "listen-only," please go to under the Investor Relations tab and click on the link "Webcast/The South Financial Group 4th Quarter Financial Results Conference Call." For those unable to participate during the live webcast, it will be archived on The South Financial Group's website until February 10, 2010.
General Information
The South Financial Group is a bank holding company focused on serving small businesses, middle market companies, and retail customers in the Carolinas and Florida. At September 30, 2009, it had approximately $12.3 billion in total assets and 177 branch offices. TSFG operates Carolina First Bank, which conducts banking operations in North Carolina and South Carolina (as Carolina First Bank), in Florida (as Mercantile Bank), and on the Internet (as Bank CaroLine). At September 30, 2009, approximately 45% of TSFG's total customer deposits were in South Carolina, 43% were in Florida, and 12% were in North Carolina. Investor information is available at .
SOURCE:
The South Financial Group, Inc.
James R. Gordon, Senior EVP & Chief Financial Officer 864-552-9050 or
Mary M. Gentry, EVP -- Investor Relations 864-421-1068
Copyright Business Wire 2010
You guys are whacked!!! LOL
JUST SHOW ME THE MONEY!!!!!!!!!!!
My A-trade news ticker started flashing green, and then I'm WHOA. This has got to be a GOOD thing. CYA in VEGAS
great day for financials
have to reconsider MBI here too +16%
What game are they playing today?
Down 3% - Buy/Sell ratio 2:1
MBI up 10% ???
I'm out, but watching closely
Chart looks like a week or two needed to consolidate, and then it will be quick IMO.
Wanted to flip but got my funds tied up elsewhere.
I had a moment of "exuberant enthusiasm"
So, to be serious, I was impressed at Morris' concern for this board and individual's questions. Not many CEO's are this forthcoming.
I also like the market potential of Lecere's product. I think CB said an upgrade would be welcome, and I know the number of new restaurants here is constant.
WooHoo! I BELIEVE!
Pulled my bidwhacker and will give this some more time.
Mr. Morris, thank you for your update.
CB, thank you for sharing your experience.
GLTA