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.
Mine hit today. :)
August 2nd PR Interesting if they get their delinquent loans under control furthur they will become a cash king. I have e-mailed IR to get the historical deliquency numbers and will post when and if I receive them. * Q2 EPS $1.03 vs loss/shr $4.31, last yr
* Books gains of $193.8 mln from investments in Q2
* Q2 primary delinquent loans fall by 5 percent sequentially
* Shares jump 27 pct (Adds conference call details, analyst comment, update stock movement)
BANGALORE, Aug 2 (Reuters) - Mortgage insurer Radian Group Inc swung to a second-quarter profit from a year-ago loss and said it expects claims to trail down after it reached its peak this quarter, sending its shares up 27 percent.
The no.2 U.S. mortgage insurer also saw a decline in mortgage insurance delinquencies for the sixth straight quarter.
For the second quarter, mortgage insurance claims paid were $512.6 million, compared with $337.3 million a year ago.
"Though the new business they have been writing is sound, they are still seeing the effects of some of their legacy loans from the crisis. It'll take them a while to turn around the corner," Standard & Poor's analyst Dick Smith said.
In the face of a housing market slump and high unemployment rates, Radian posted better capital ratios than its peers.
Mortgage insurers like MGIC Investment , Genworth and Old Republic International have been struggling to meet capital adequacy benchmarks and have time and again sought waivers to continue writing business in many states in the United States.
PMI Group Inc has had to get a waiver to continue writing insurance in a majority of the 16 states where it failed to meet the minimum risk-to-capital ratios.
However, Radian's risk-to-capital ratio -- a measure of its statutory capital relative to its insured risk in force -- came in comfortably at 19.8:1, compared with the benchmark of 25:1.
Genworth's U.S. MI segment risk-to-capital ratio as of June 30 was an estimated 25:1.
"Our risk-to-capital ratio and financial flexibility gives us a competitive edge," Radian Chief Executive S A Ibrahim said in a statement.
NEW MORTGAGES DIP
Sequentially, the company wrote only $2.3 billion in new mortgages, compared with $2.6 billion in the first quarter; which it attributed to a "record low origination market."
S&P analyst Dick Smith said, "mortgage origination is a problem. I don't think there's much of that type of business out there."
The company, which turned to profit in the first quarter after a string of losses, posted a second-quarter profit of $137.1 million or $1.03 a share, compared with a loss of $475.1 million or $4.31 a share, a year ago.
Radian booked gains of $193.8 million from its investments versus losses of $587.8 million in the year-ago.
The company's primary delinquent loans fell by 5 percent from the first quarter.
Shares of the Philadelphia-based company were trading up 82 cents at $3.90 in morning trade Tuesday, making them the top percentage gainer on the New York Stock Exchange. (Reporting by Rachel Chitra in Bangalore; Editing by Viraj Nair and Gopakumar Warrier)
You think stockcharts will ever have a way to put in your own values in order to make charts of your own? Investment returns, tracking a businesses sales, ect... Just a thought of extra value.
This one was a learning experience for me. Good luck on your investments.
booyah! There she blows! ha ha
Me too I own from pre-September, but Etrade has no idea when or if the shares will come through.
Whats going on here? Running with the market or was the news that good? Maybe folks starting to wise up with this one.
I am still holding a few shares in an IRA at a 2.25 average. Seawell just bought another company today. Anyone done any quick research, you think its worth the long? or dump it? The research I have done looks like I should hold longer term, but not sure how I cash in the new shares.
Anyone watching the volume?
Thats $2700.00 You take much more than that on vacation. Thats not much at all in the grand scheme of things.
HA HA Hey thanks for the input. We shall see what the big picture looks like then.
I am still watching, wishing I had purchased more. Sitting with my original position with an average in the 5's. I may be gone at 14 or so, depending on the divy. I have them in Roth IRA's.
Good news. Thanks eom
Incredible stock. I think we get bought out soon, but not enough m&a's yet. The big money is still scared for the long haul. It is developing a profitable chart to trade though.
There are some sorry companies out there and some good ones. I am holding long, the uplisting will have me adding. These stocks do take PAYtience though.
he he he Keeping it clean. Thanks
We have to know this dog is still alive and I cant get a response from IR. This company not too long ago had some real great products with some real opportunities. These folks have been around along time, so someone scooping them up might be an option. We need to know they are alive, imo....
Just holding cash waiting for opportunities. I need to do some more dd, but thinking about starting to go long and try to grab a cheap average.
I am in following on twitter when out of the office. Lurking and playing.
Yep I agree. Wise words to live by. Watching CNBC and the others intices me into making the wrong choices as one of my pitfalls. When I get a chance to trade I do 4-5 charts the night before, make notes, print them, then only watch the overall market to see a bigger picture. Never stop learning with the market. Thanks for your insight.
Thanks for the update. Trying to grab some DNAB for the long average. This market is crazy. Hoping to be around when BP finally stops that leak for a big bounce.
BId
.055
.045
.04
Ask
.085
.10
Level 2 shows the 6 seller gone
LOL Tomorrow I will hit the ask if no fill in the AM. Looking for another 20k or so to add to an IRA.
Tried to pick up some at .055 today with no sellers. Come on guys give up some shares will ya?
Jumped in for a few today at the ask. Company looks like the real deal.
OT :Options expiration had a bit to do with it also, imo. Friday had a bad smell to it.
yep and tomorrow's always a day away.
The volume is double the 10 day avg She may finally blow captain!
its Etrade. No one ever seems to know. LMAO
Thanks for the response.eom
I picked up a few a while back.
OT: Can you tell me what happens to the far out options when a reverse split occurs? Do the options multiply by the split point? TIA
Agree. The real issue here to me is what does the government do to the average long term investor and trader when the topic finally comes up? Does the average guy like myslef, who manages most of his own stuff and might flip one in five minutes or 6 months get targeted here. What else can Etrade make money at? Can they possibly merge this thing with C and make the gov't own a nice little gem? Just a good conspiracy I guess. Still holding.