Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

DRL- Our first derivatives collapse....

Battered Doral Fin'l may sell part of portfolio
Wed Mar 23, 2005 02:52 PM ET
http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh28831_2005-03-23_19-52-32_wen...

NEW YORK, March 23 (Reuters) - Doral Financial Corp. (DRL.N: Quote, Profile, Research) , whose shares have been battered amid concerns about its earnings quality and how aggressively it values its portfolios, on Wednesday said it may sell some securities that have worried investors and analysts.
The San Juan, Puerto Rico-based company, which is Puerto Rico's largest mortgage lender, said it may sell some of its "interest-only strips," and is in preliminary talks to sell some to an unidentified "major financial institution." Strips can be created when an issuer or investor splits a bond into its interest and principal components. Many strips are highly sensitive to interest rate changes.

Doral shares fell 44 percent in the final three trading days last week, to $21.50, after Doral on Tuesday filed its annual report with securities regulators, and amid several analyst downgrades. Doral shares fell 20 cents to $22.35 in Wednesday afternoon trading on the New York Stock Exchange.


Zeev, getting charged storage for your Bear Suit?
(Go on! Just pick it up !)

Gee, lookie here, TXN back over $25 where it warned of the quarterly miss....This is called multiple stretching