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bull flag pendant formation..
looking good here
out all in cash now.. FNMA
Filled at 16.51 thanks!!!
Former Bank of America executive pleads guilty in bid-rigging scheme
Read more here: http://www.newsobserver.com/2014/02/10/3609064/former-bofa-executive-pleads-guilty.html#storylink=cpy
A former Bank of America executive has pleaded guilty to participating in a bid-rigging scheme that manipulated how contracts to invest municipal bond proceeds were awarded, the U.S. Justice Department announced Monday.
The executive, Phillip D. Murphy, worked in Charlotte as the bank’s managing director of municipal derivatives products from 1998 to 2002, court documents say.
According to federal prosecutors, Murphy was a player in a fraud conspiracy and wire fraud scheme that also involved a California broker known as CDR Financial Products.
The charges against Murphy are related to a wide-ranging government investigation of the U.S. municipal bond market. In December 2010, four federal agencies and 20 states announced a sweeping $137 million settlement with Bank of America for its role in a scam authorities said defrauded state agencies, cities and nonprofits that sought to invest with banks the millions they borrowed through bond offerings for hospitals, apartment complexes and other projects.
That settlement, which included $3.4 million for North Carolina, resulted from a 2007 leniency agreement the bank reached with the Justice Department, sparing it from criminal prosecution. Bank of America, which officials then said was the first and only company to self-report its activities in the case, paid restitution but no fines after it approached the Justice Department, prompting the investigation.
Other banks also have reached settlements over bid-rigging allegations. Wells Fargo & Co. in 2011 announced it would pay $148 million to resolve accusations that Charlotte’s Wachovia, which the bank bought in 2008, participated in the scheme. JPMorgan Chase & Co. settled similar charges in 2011 for $228 million.
Central to the cases are the funds that public bodies, such as state and local governments, raise from issuing bonds. The proceeds are designed to pay for public projects or as operating funds, but public bodies invest them until it’s time to use them for their intended purposes.
According to a July 2012 indictment, Murphy and co-conspirators manipulated the bidding process to win the investment contracts. CDR Financial Products would give out interest rate and other details on bid submissions in advance, the indictment says. Bidders competing for the contracts would decide ahead of time whose bid would win, the indictment says.
As a part of the conspiracy, Murphy and co-conspirators agreed to have kickbacks paid to CDR in exchange for the company’s help in manipulating the bidding process, the indictment says.
Bank of America increased its profits from the contracts by paying artificially determined and suppressed low interest rates, the indictment says.
The public bodies that issued the bids were led to believe the bidding process was competitive when it actually wasn’t, placing the tax-exempt status of the underlying bonds in jeopardy, prosecutors said. Prosecutors said Murphy conspired with CDR and others to increase the number – and profitability – of contracts awarded to Bank of America.
“Mr. Murphy ripped off hard-working American taxpayers and cash-strapped municipalities all in pursuit of his own lucre,” George Venizelos, assistant director in the FBI’s New York field office, said in a statement. “Let this serve as a reminder to others who are entrusted to act in the public’s best interest; your lack of candor won’t go without notice.”
Murphy has pleaded guilty to fraud conspiracy, false bank records conspiracy and wire fraud, according to the Justice Department.
The fraud conspiracy carries a maximum penalty of five years in prison and a $250,000 fine. The false bank records conspiracy carries a maximum penalty of five years in prison and a $250,000 fine.
The wire fraud charge carries a maximum penalty of 30 years in prison and a fine of $1 million.
Sentencing in the case is not expected until summer at the earliest.
Including Murphy, 17 individuals have been convicted or pleaded guilty in the Justice Department’s investigation. That number includes former Bank of America employees Douglas Campbell, who worked at the bank’s offices in Charlotte and New York, and Brian Zwerner, who worked in the bank’s offices in Chicago, court documents say.
In December, Bank of America agreed to pay $20 million to settle a 5-year-old related lawsuit that accuses it of rigging bids for municipal securities. That settlement is separate from the December 2010 deal.
Read more here: http://www.newsobserver.com/2014/02/10/3609064/former-bofa-executive-pleads-guilty.html#storylink=cpy
According to google finance it's
Feb 10, 2014
Q4 2013 Fannie Mae Earnings Release (Estimated)
Getting ready to see what's in store for us!! $$$$$
Bought more this morning @ 24.10 !!! holding
JBLU swings profit needs new reporting manager q4 beats analyst estimate
Cant type haha AAL new high
Its a great day at Americam Airlines!!!! AAL
JBLU buying pressure should start toward EOD and earnings schedule tomorrow before market..
Very exciting Blackstone Group!!! lovely price rising.. accumilate and hold!!!!!!
Buying pressure building before EOD, BAC..
Better than expected "added value for shareholders" AAL
The Blackstone Group L.P. : Blackstone Mortgage Trust Announces Public Offering Of Class A Common Stock01/08/2014 | 04:02pm US/EasternRecommend: 0 NEW YORK, Jan. 8,
2014 /PRNewswire/ -- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the "Company") today announced it has commenced an underwritten public offering of 8,500,000 shares of its class A common stock. The underwriters have been granted a 30-day option by the Company to purchase up to an additional 1,275,000 shares.
The Company intends to use the net proceeds from the offering to originate and purchase additional commercial mortgage loans and other target assets and investments consistent with its investment strategies and investment guidelines, and for working capital and other general corporate purposes.
BofA Merrill Lynch, Citigroup, J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers for the offering.
The offering will be made pursuant to the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission.
The offering of these securities may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained by contacting: BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department or email dg.prospectus_requests@baml.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, tel: 800-831-9146; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, tel: 1-866-803-9204; or Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152, at (800) 326-5897 or email a request to cmclientsupport@wellsfargo.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Blackstone Mortgage Trust
Blackstone Mortgage Trust, Inc. (NYSE: BXMT) is a real estate finance company that primarily originates and purchases senior mortgage loans collateralized by properties in the United States and Europe. The company is externally managed by BXMT Advisors L.L.C., a subsidiary of The Blackstone Group L.P., or Blackstone, and is a real estate investment trust traded on the NYSE under the symbol "BXMT." Blackstone Mortgage Trust, Inc. is headquartered in New York City.
About Blackstone
Blackstone (NYSE: BX) is one of the world's leading investment and advisory firms. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies it invests in, the companies it advises and the broader global economy. Blackstone does this through the commitment of its extraordinary people and flexible capital. Blackstone's asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds, and multi asset class exposures falling outside of other funds' mandates. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services.
Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to future financial results and business prospects. The forward-looking statements contained in this press release are subject to certain risks and uncertainties including, but not limited to, the risks indicated from time to time in Blackstone Mortgage Trust Inc.'s Form S-3 (File No. 333-190191), as amended, and the documents incorporated in the registration statement, including Blackstone Mortgage Trust, Inc.'s Form 10-K for the fiscal year ended December 31, 2012 and Form 10-Q for the fiscal quarters ended March 31, 2013, June 30, 2013 and September 30, 2013. Blackstone Mortgage Trust, Inc. assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.
SOURCE Blackstone Mortgage Trust, Inc.
http://www.4-traders.com/THE-BLACKSTONE-GROUP-LP-51975/news/The-Blackstone-Group-LP--Blackstone-Mortgage-Trust-Announces-Public-Offering-Of-Class-A-Common-St-17768738/
FNMA $$$$$$$$$$$$$$$ Yesss!!!!!
Nice!!! $$$$$$$$$$$$$$$$$$ FNMA a gift at these levels!!!!
You're right I expect a rise towards the weeks ahead and price appreciation as well !!!
Thanks for the great DD ospreyeye on some added bonus to look forward to for FNMA....
Just a gentle reminder $$$$$$$$$$$ Q4 is coming up this month!!!!!!!!!!!!!!
Blackstone had a great year!!!! Next year will be better!!!!!
Volume at the end of the day and after hour was setting off some alert ONVO something is happening!!!!!
Lock and loaded FNMA!! Will be the #1 stock to hold in 2014 waiting for up listing into Nasdaq !!!
I wonder if it had something to do with the settlement 1.9 billion.. That is a nice chunk of change!! Both FnF looking prime for the next leg up ..
FMCC moving towards the power Zone baby!!! power
Boom boom!! #FNMA
Valuation from most analyst including JP Morgan indicates that AAL is still undervalued with price target above 37.. Nasdaq heavy weights are here.. Travel is expected this holiday to spike up higher.. Don't think that we will see the dip too far down if any.. Reading from the charts AAL has held its own... Americas favorite Airline is back!!!!
UPDATE: FHFA eyes $400K limit for mortgages WASHINGTON (MarketWatch) -- With officials continuing to work on housing-finance reform, federal regulators asked Monday for public comments on a proposal that would cut the size of mortgages that can be purchased by Fannie Mae (FNMA) and Freddie Mac (FMCC). The Federal Housing Finance Agency's proposal would cut the conforming-loan limit for single-unit properties by 4%, translating to a new ceiling of about $400,000 in most of the U.S., while higher-cost areas would see a new limit of $600,000. The goal is to contract the government's presence in housing finance, but critics have been concerned about moves that they say could undermine the market's recovery. FHFA wants the public to comment on the schedule for loan-limit cuts, and the appropriate amount of notice. Proposed changes would not impact loans originated before Oct. 1, 2014. Comments are due by March 20. -Ruth Mantell; 415-439-6400; AskNewswires@dowjones.com (END) Dow Jones Newswires December 16, 2013 15:33 ET (20:33 GMT) Copyright (c) 2013 Dow Jones & Company, Inc.
adding more shares of AAL into Portfolio stair climbing here proved to be a healthy chart thus far!!
If FNMA was winding down there is no real signs of that in mortgage structure being implemented.. We have records housing sales and great profits..My belief is FnF is going stay...
1 for 1 share to AAL from AAMRQ would make a lot of people happy!!!!
Now JPMorgan has added American Airlines to its focus list. Analyst Jamie Baker writes:
The merger between American Airlines and US Air closed yesterday. We are Overweight American Airlines with a YE14 equity price target of $37. We are adding [American Airlines] to the J.P. Morgan US Equity Analyst Focus List, reflecting both our integration confidence and higher forecasted upside potential than anywhere else in our coverage universe.
http://blogs.barrons.com/stockstowatchtoday/2013/12/11/american-airlines-added-to-jpmorgan-focus-list-shares-jump/
Blue Skies up ahead AAL
Valuation for AAL are much higher this is just the beginning.. So glad it up listed back to Nasdaq!! More investors now can participate..
. CRT Capital initiates AAL with a Buy and price target of $31 which assumes 5.5x its '15 EBITDAR estimate of $7.4 billion, the mid-point of the 4.5x to 6.5x historic range. As new equity is distributed over the next 120 days, short-term volatility is expected to create opportunities for investors focused on the improving fundamentals and attractive valuations. The main risk is merger integration. The reward for execution? A re-rating of the shares. AAL is one of firm's favorite ideas.
Dear friends Colleague and shareholders, See you at the opening bell Monday to welcome American Airlines into the Nasdaq!!!
American Airlines Group, Inc. (Nasdaq:AAL); Doug Parker, chairman and CEO, US Airways, and incoming CEO of the new American Airlines; and the employees of the new American, will help ring The NASDAQ Stock Market Opening Bell remotely from Dallas/Fort Worth International Airport in celebration of the completed merger of AMR Corporation and US Airways Group, Inc. and the listing of the common stock of the combined company on the NASDAQ Stock Market.
Where:
Dallas/Fort Worth International Airport
When:
Monday, December 9, 2013
8:15 a.m. to 8:30 a.m. Central Time / 9:15 a.m. to 9:30 a.m. Eastern Time
Contact:
American Airlines Media Relations
(817) 967-1577
mediarelations@aa.com
NASDAQ Media Contacts:
Will Briganti
(646) 964-8169
william.briganti@nasdaqomx.com
Christine Barna
(646) 441-5310
christine.barna@nasdaqomx.com
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Fiber Line (Encompass Waterfront): 4463
Gal 3C/06C 95.05 degrees West18 mhz Lower
DL 3811 Vertical
FEC 3/4
SR 13.235
DR 18.295411
MOD 4:2:0
DVBS QPSK
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FnF got some tough battles ahead share holders need to reunite I like the way fairholmes and Ackman approach to this.. We have good well intention men out there to save these two very very important entity out there.. As a shareholder I want FnF to survive.. 2014 is the year!! It's going to be a great year..
I have Frank Sinatra song in my head I think he was eluding to american airline
Dear owners of American Airlines you are witnessing the #1 airline in the World!! Lets ride!!
Fannie gets the unfair hand shake with banks and congress--since the 90's the affordable homes act left the companies FnF vulnerable.. The tides are changing I think FnF is heading in the right direction .. 2014 will be exciting to watch them pay off their debt with interest.. And report quarter 4.. The housing market has improved dramatically.. Awaiting good news!!!
http://www.hud.gov/offices/adm/hudclips/acts/naha.cfm