AI
Thursday, August 02, 2012 9:11:18 PM
big losers today: KCG MTG BMY SEE
Knight Capital Says Trading Glitch Cost It $440 Million
Knight Capital shares plunged 63% due to software Glitch launched yesterday. The Knight Capital Group announced on Thursday that it lost $440 million when it sold all the stocks it accidentally bought Wednesday morning because a computer glitch.
TD Ameritrade Holding Corp. (AMTD), E*Trade Financial Corp. (ETFC) and Vanguard Group Inc. are among the financial institutions that have stopped trading with Knight Capital Group Inc. (KCG), while several banks limited their trades with the company, one day after a glitch cost it $440 million and raised fresh questions about the reliability of highly automated equity trading.
-Freddie Mac imposes conditions on its agreement to allow MGIC to keep selling coverage
--Wisconsin regulator objects to some conditions
--CEO says resolving differences will be a 'major issue' for the company
(Updates with closing share price in paragraph six.)
A plan by MGIC Investment Corp. (MTG) to continue selling mortgage insurance is at risk during a tug-of-war between its primary regulator and Freddie Mac (FMCC), one of its major customers.
MGIC, plagued by billions of dollars in losses over the last five years, had hoped to keep selling coverage in several key states under a complicated plan
Bristol-Myers Executive Charged With Insider Trading
and Bristol Halts Test Drug for Hepatitis
Bristol-Myers Squibb Co. suffered a serious setback in its multibillion-dollar efforts to find new treatments for a deadly liver disease, suspending testing of a pill for hepatitis C after a patient's heart failed.
The pill was the crown jewel of Bristol's $2.5 billion purchase of a small drug developer early this year, and part of Bristol's attempt to enter a fast-growing market by coming up with a new generation of hepatitis C treatments that were easier to take and more effective than current drugs.
Knight Capital Says Trading Glitch Cost It $440 Million
Knight Capital shares plunged 63% due to software Glitch launched yesterday. The Knight Capital Group announced on Thursday that it lost $440 million when it sold all the stocks it accidentally bought Wednesday morning because a computer glitch.
TD Ameritrade Holding Corp. (AMTD), E*Trade Financial Corp. (ETFC) and Vanguard Group Inc. are among the financial institutions that have stopped trading with Knight Capital Group Inc. (KCG), while several banks limited their trades with the company, one day after a glitch cost it $440 million and raised fresh questions about the reliability of highly automated equity trading.
-Freddie Mac imposes conditions on its agreement to allow MGIC to keep selling coverage
--Wisconsin regulator objects to some conditions
--CEO says resolving differences will be a 'major issue' for the company
(Updates with closing share price in paragraph six.)
A plan by MGIC Investment Corp. (MTG) to continue selling mortgage insurance is at risk during a tug-of-war between its primary regulator and Freddie Mac (FMCC), one of its major customers.
MGIC, plagued by billions of dollars in losses over the last five years, had hoped to keep selling coverage in several key states under a complicated plan
Bristol-Myers Executive Charged With Insider Trading
and Bristol Halts Test Drug for Hepatitis
Bristol-Myers Squibb Co. suffered a serious setback in its multibillion-dollar efforts to find new treatments for a deadly liver disease, suspending testing of a pill for hepatitis C after a patient's heart failed.
The pill was the crown jewel of Bristol's $2.5 billion purchase of a small drug developer early this year, and part of Bristol's attempt to enter a fast-growing market by coming up with a new generation of hepatitis C treatments that were easier to take and more effective than current drugs.
My post is for my entertainment, do your own DD before pushing your
buy/sell buttons
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