the price is the price is the price
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Zero Damages Just Like Greenberg
Imagine going through 10 years of Fanniegate headaches, win a trial and get zero damages and zero for your stock.
Without the US government's capital backing and credit rating, the stocks aren't worth anything.
Tough pill to swallow.
Fannie is TBTF & are agents of TBTF Banks
that dump all of their bad credit on the US Taxpayer.
So, most of that TBTF nonsense stuff you guys are doing on twitter is completely twisted.
Peter Wallison is laughing his adult diapers off right now.
Ask Rosner, he will confirm this fact.
Swing U Up, Swing U Down, & the Fool is left Wondering
What happened? It all started off so good??
Breaking Down to September '14 Prices
Not sure what will hold. Everyone is fully allocated w/ their capital losing money, and unable to put further money in this trade.
This is gonnna be musical chairs and duck duck goose all the way to the low $1's.
I hope govt provides Assisted Living Hospitals
For all the crazies that have nervous breakdowns when this goes back to $1 by Labor Day.
One Dismissal away from oblivion and a lifetime of misery
Only bidder out there @1.51 for 5,000 shares
That may be the temporary bottom.
You're lucky 2 get more than $0.00 for FNMA shares
Be thankful for anything you are able to get from selling.
At this point it is just a tax write-off.
Bright Side: Youll Never Make a Worse Purchase
in your life. You're in the paper Shredding business.
Withdraw all the cash in your bank accounts and have a bonfire with smores to celebrate. Don't jump in.
It just gets worse and worse
The next 40 minutes are gonna get bad
Speculator Leather Belt and Shoe Strings Confiscated
and you have been placed in conservatorship so that you do not engage in self-harm
Change ticker on your screen to FNMAX
It'll make you think the stock is trading at $13.39 and confirm all of your delusions and denials!
Is the Red Cross Available for Speculators in FNMA?
Cover the wound and stop the bleeding. Testing $2 this week could send the stock into a Death Spriral immediately to $1.50.
When will Sweeney Dismiss b/c Lack of Jurisdiction?
It'll be painful after years of discovery when she flat out says, "sorry, but I can't hear this case, you need to go talk to Judge Lamberth."
What a waste of money.
Watt to move FNMA to FullTilt.com?
Time to recognize what this stock really is, a parlour game where everybody loses everything to the house.
Speculators Unite!
Open @ 2.25 Close @ 2.15
Put you bets on.
Welcome to the Monday morning Fannie Casino.
Speculator's Unite.
FNM is Biggest Disaster Banking System Has Ever Known
100% relies on US government's credit rating and credit line.
They are owned by taxpayers. So-called former shareholders have no rights anymore, just as it should be.
Bye bye, you are dismissed. Lamberth!
Closing @ lows of day & week + Greece
Equals a test of the $2 level this week.
People actually still think that US Government would end conservatorship of 2 companies w/ no capital, trillions in liabilities, and let former shareholders start taking dividends?
Would you let your blind grandmother drive a car? No, you keep her in the nursing home and in conservatorship so she is safe and doesn't hurt herself or the taxpaying public
What Ackman Does When He Doesn't Get What He Wants
Just sub Fannie for Penney and guess the date this is coming. Another sleepless night in Fannieland.
Ackman Moves to Dump Entire Stake in J.C. Penney
Citigroup Agrees to Sell Hedge Fund's Shares to New Buyers at $12.90 Each
By EMILY GLAZER, MATT JARZEMSKY and SUZANNE KAPNER
Updated Aug. 26, 2013 8:21 p.m. ET
Hedge-fund manager Bill Ackman moved to dump his entire stake in J.C. Penney Co., ending a failed bet on the retailer that cost his fund more than $600 million, resulted in the loss of thousands of jobs and left the 1,100-store chain still struggling to right itself.
Hedge-fund manager Bill Ackman of Pershing Square is selling his entire 18% stake in J.C. Penney. What does that mean for the activist investor and the retailer? WSJ's Emily Glazer joins MoneyBeat.
Mr. Ackman's Pershing Square Capital Management LP is unloading its 39 million shares—nearly 18% of Penney's stock—with help from Citigroup Inc., which underwrote the sale.
KEY PLAYERS IN THE BOARDROOM DISPUTE
ENLARGE
SINKING SHARES
Track the closing price of J.C. Penney's stock and key events over the past 10 years.
ENLARGE
Citigroup reached agreements to sell the shares to new buyers at $12.90 each, a person familiar with the matter said. That was well below their closing price Monday of $13.35 and close to half the roughly $25 apiece that Pershing Square paid for the shares, mostly in 2010 and 2011.
Mr. Ackman resigned from Penney's board earlier this month after a conflict with fellow directors over the choice of a chief executive spilled out into the open. He had become a divisive figure at the company by backing the appointment of Apple Inc. retail executive Ron Johnson as CEO and supporting a strategy that ended up pushing the retailer deep into the red by the time it removed Mr. Johnson in April and brought back his predecessor Myron Ullman.
A CRUCIAL TIME FOR J.C. PENNEY
See key events in the company's history since it was founded in 1902.
ENLARGE
More photos and interactive graphics
It was the hedge-fund manager's third bad bet on the retail industry, following an investment in the now-defunct bookseller Borders Group in 2006 and a proxy-fight defeat at Target Corp. in 2009.
In a letter to Pershing Square investors last week, Mr. Ackman conceded those "mistakes," and said he would consider selling his stake in Penney. "Clearly, retail has not been our strong suit, and this is duly noted," he wrote.
ENLARGE
Mr. Ackman's exit leaves Penney still facing the uphill job of winning shoppers back to its stores and recovering from a deep drop in sales.
Mr. Johnson's strategy of eliminating discounts and doing away with popular house brands without first testing those ideas led to a 25% drop in Penney's sales and a loss of nearly $1 billion in his first full year on the job. Those losses took a toll on the company's workforce. Penney, which had provided at least 150,000 people with full- or part-time work for almost a decade, had just 116,000 employees when its most recent fiscal year ended Feb. 2.
Retailers fight hard for every point of sales growth, and a drop of Penney's magnitude won't be easy to fix, according to industry executives. Moreover, the chain's sales have continued to decline.
The retailer said last week that its sales at stores open at least a year sank by 12% in the quarter ended Aug. 3, as shoppers gave its new home departments a poor reception. The company posted a loss of $586 million for the period.
"To bet the ranch on some kind of wild return to growth in a short time period wouldn't be prudent," Mr. Ullman, the CEO, said on a conference call to discuss earnings last week.
Soon after his resignation from the board, Mr. Ackman and Penney agreed on a framework under which he could sell his stock. The terms allowed Pershing Square to make up to four large sales a year, as long as each exceeded five million shares.
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Mr. Ackman also won the right to appoint a person to serve on Penney's board in his place. But with the sale of his entire stake, he will forfeit that right, people familiar with the situation said.
Pershing Square, which has about $11.7 billion of assets under management, is selling its stock through a deal with Citigroup, which agreed to buy the entire stake and then marketed the shares to fund managers late Monday, according to a filing.
Unclear is whether another dissident Penney director, Steven Roth, chairman of Vornado Realty Trust, plans to remain on the board or sell his company's remaining shares.
Vornado sharply reduced its stake in Penney in March, selling stock valued at $160 million. On Monday, Mr. Roth didn't respond to a request for comment.
Penney's board, having seen off one activist, adopted a shareholder rights plan last week intended to prevent new investors from gaining control of the company. The rights plan, also known as a poison pill, is designed to dilute the value of the stock by potentially flooding the market with additional shares, making it expensive for an investor to acquire a controlling stake.
The company adopted the plan as other investors built big stakes in the stock. They include George Soros, who now controls the second-largest stake in the company–9.1%–through his Soros Fund Management LLC. Meanwhile, hedge fund Perry Capital LLC has taken a 7.3% stake.
Write to Emily Glazer at emily.glazer@wsj.com, Matt Jarzemsky at matthew.jarzemsky@dowjones.com and Suzanne Kapner at Suzanne.Kapner@wsj.com
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Glen Bradford PumpNDump Failed
3 Seeking Alpha articles in 1 week and the stock drops a dime
http://seekingalpha.com/symbol/FNMA
Rush 4 Liquidity as Weekend Starts
Get out now at 2.30 before the big hurt kicks in
Nobody holds this stock overnight anymore.
Ackman says Extinguish Common Equity
Commoner Invades Pfd Board
Thinks Ackman really cares about him
Ackman shorted the ----- out of the stock in 08 and all over CNBC trashing the company.
Be careful who you get in bed with.
He has 3% of his portfolio in the stock, and he will throw it away in a heartbeat.
Guy is multi-billionaire, doesn't wear the same thing twice, Fannie is just a broken throw-away trade for him.
Assume Fetal Position
Pray stock doesn't plummet on the new Royce Shut-down Bill
Highway to the Danger Zone
$2 and below
Fannie, Freddie CEO Pay Could Spur Legislation -- Market Talk
DOW JONES & COMPANY, INC. 8:16 AM ET 7/2/2015
9:16 EDT - Fannie (FNMA) and Freddie (FMCC) yesterday announced their CEOs' annual target compensation would rise to $ 4M from $600K under a change approved by FHFA chief Mel Watt. The move could improve the chances that lawmakers approve some form of targeted legislation related to the GSEs, says Isaac Boltansky of Compass Point Research--possibly including restrictions to comp or a broader bill which would forbid Treasury from disposing of its stake in the companies without Congress' approval. Rep. Ed Royce (R., Calif.) said yesterday he would advance legislation on the CEO- pay issue. (joe.light@wsj.com; @joelight)
(END) Dow Jones Newswires
07-02-150916ET
Copyright (c) 2015 Dow Jones & Company, Inc.
Hemlock Cocktails over a 3-Day Weekend
Holding this stock overnight for 4 nights with no ability to sell is very dangerous right now.
Lt. Mitchell - You are instructed to land that plane. This is an order!
Bottom of Grocery Bag is Wet
Bottom Falling Out
Frozen like a possum
You're scared and you want to sell. You're on your broker's website about to click sell.
You don't and then you get run over by the elephants as they sell before you.
Trust me it's good advice. Get out while there is still some value.
Anything is better than zero
Take 2.31 or regret it
Pathetic Stock Trades in Half Pennies!
Not even entire pennies!
What happens if you sell an odd lot and get half a penny, lol!
This truly is like flying a cargo plane full of rubber dog doo out of Hong Kong, Maverick.
Pre-conservatorship Owners Need Their Own Lawsuit
The current hedge fund lawsuits are only about the 3rd amendment.
Fannie and Freddie Pension funds and other Mutual Funds should sue over the conservatorship
First order of business is to pay off Sr. Preferred (if they will let you) and then retain earnings for 10 years to build $200 billion in capital.
2nd order, exit conservatorship after FHFA considers you well-capitalized
3rd order, pay pfd dividends at same time you begin paying common dividends. Non-cumulative pfd dividends never get paid unless common are getting divs at the same time. Otherwise there is no incentive to pay the divs.
Make no mistake, pfd shareholders have no voting rights. That's a big reason Berkowitz came in with his power grab, break-up plan where he would get voting rights and control of Newco. Gotta remember, this is no ordinary bankruptcy.
I bought Penny Stock off info from an Internet Chat Room
and you're telling me it's worthless?
But Glen Bradford from Seeking Alpha told me it was worth $20 and it was going to make me rich and famous - all for doing absolutely nothing.
Did he pump me and dump me?
Never Hold FNMA over a 3 Day Weekend
Could be the costliest and last mistake of a trading career.
Market opens on Monday around $1 after another dismissal and kill bill
That's just the reality of the situation. Living on borrowed time every time you hold this stock overnight. Who would hold it for 4 straight sleepless nights with no ability to sell?
Buyer beware, companies have no capital and shareholders have no rights
This morning was last chance to get out
July 4th Fire Sale rest of today and tomorrow.
I'd take the 100,000 bid if you can get it first
Fannie CEO Makes Same as Redskins Starting QB
Robert Griffin 3rd!
Shelby's Depends are overflowing right now!
Matty I actually like u and have been trying to give u good advice
as a friend.
I don't like Davie Stevens either, but I'm not willing to go bankrupt to prove a point.
Close your eyes and sell at market
If you don't you're just holding the price up so somebody else can sell at a better price than you.
Pfds take advantage of 80yr old woman
Low down dirty
She was born in 1934!
Clayton paid by Pfd S/H to Screw Commons
That plan gives zero value to commons. Just the jr pfd paying poor retired politicos to pump a plan that will never happen.
The companies have zero capital, so they are not on solid footing and able to exit conservatorship.
It'd take 10 years of retaining earnings and paying no dividends to the government for the companies to be well-capitalized, able to exit conservatorship, and pay jr. pfd dividends.
Im falling & Im Never Getting Up Again
Nobody left to catch common s/h. Ackman already maxed out what he can buy, and there's nobody else that will touch it.