News For CFC From The Last 14 Days Check below for free stories on CFC the last two weeks.
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December 16, 2007
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| 09:21 EDT |  | CFC |
| theflyonthewall.com: | Periodicals story about CFC | | Shares of Warren Buffett's Berkshire Hathaway (BRK.A) have risen 30% since August 1st to $143,000 and now has the sixth highest market value of $220B, behind Exxon Mobil (XOM), General Electric (GE), Microsoft (MSFT), AT&T; (T) and Proctor & Gamble (PG). The majority of the rise in shares is due to Berkshire's $39B in cash, leading to speculation that he may put some of that cash into a financial company or maybe even acquire a $10B plus company "on the cheap;" namely Countrywide Financial (CFC), MBIA (MBI) and Bear Stearns (BSC). Barron's pegs the value Berkshire shares at $133,000 per share with Credit Suisse's Charles Gates even lower, at $125,000. While Barron's has been bullish on Berkshire, they are betting that Berkshire's board will name David Sokol as the successor to Buffett, although this has not been made public yet. While investors look to shares of Berkshire as a safe haven, they may not be worth the current $143,000 but closer to $125,000-$133,000 and there may be better values in the financial sector such as American International Group (AIG), Wells Fargo (WFC) and American Express (AXP). :theflyonthewall.com |
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December 14, 2007
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| 11:38 EDT |  | CFC |
| theflyonthewall.com: | Hot Stocks story about CFC | | S&P; reported that CFC's outlook was changed to Positive from Stable, the CFC being short for Cooperative Finance Corporation, not Countrywide Financial (symbol CFC). We apologize for the confusion. :theflyonthewall.com |
| | 09:23 EDT |  | CFC |
| theflyonthewall.com: | Technical Analysis story about CFC | | The following stocks were the top percentage losers before the open on solid volume of at least 50K shares, trading at over $10. BDK (-8.89%), XTEX (-3.2%), VMC (-3.15%), CFC (-2.48%), INTC (-1.2%). :theflyonthewall.com |
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December 13, 2007
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| 08:04 EDT | | CFC |
| theflyonthewall.com: | Hot Stocks story about CFC | | Mortgage loan fundings for the month of November 2007 totaled $23 billion, a 40 percent decline from November 2006. Average daily mortgage loan application activity for November 2007 was $1.9 billion, a 32 percent decrease from November 2006. The mortgage loan pipeline was $43 billion at November 30, 2007, as compared to $62 billion for the same period last year. The mortgage loan servicing portfolio continued to grow, reaching $1.47 trillion at November 30, 2007. This is an increase of $193 billion, or 15 percent, from November 30, 2006. :theflyonthewall.com |
| | 07:44 EDT | | CFC |
| theflyonthewall.com: | Illinois AG subpoenas Countrywide-NY Times | | Countrywide Financial (CFC) has been subpoenaed by the Illinois attorney general, according to the New York Times. As part of the state's investigation into loan origination practices, sources said the AG is questioning the company's home loan unit. Additionally, the company is under scrutiny by the SEC about "significant stock trades" made by CEO Angelo Mozilo before shares of the stock sunk this year. Reference Link :theflyonthewall.com |
| | 06:50 EDT | | CFC |
| theflyonthewall.com: | On The Fly: Periodicals Wrap-Up for Thursday, December 13th | | WALL STREET JOURNAL: The proposal by Citigroup (C), Bank of America (BAC) and JP Morgan Chase (JPM) to shield banks and structured investment vehicles from big losses appears to be losing momentum, the Wall Street Journal reported...The Wall Street Journal's "Heard on the Street" reported that though activist investor believes there is nearly $20B in additional shareholder value should Motorola (MOT) break up, analysts caution that the company needs to fix underlying problems to maximize the value...NEW YORK TIMES: Countrywide Financial (CFC) has been subpoenaed by the Illinois attorney general, according to the New York Times... :theflyonthewall.com |
| | 04:58 EDT | | CFC |
| theflyonthewall.com: | Jim Cramer's "Mad Money" | | Cramer again ripped on the Fed, the cut was not the half point the Street was looking for. Names that got killed: BAC, WM, WB, C, ABK, MTG, FNM, FRE and CFC. Stocks that did best: PEP, PG, KO, CL, CLX and DEO. Bottom-line, Cramer says we’re in trouble, the market outlook looks bleak, consider getting defensive. What industries are actually helped by a quarter point cut? Technology. Tech stocks doing well who didn’t need the rate cut, but clearly benefited: AAPL, HPQ, INTC, WDC, MSFT, GOOG, RIMM - these are in great shape, having great quarters. INTC could do very well after Thurs., so could NVDA and TXN, because AMD has an analyst meeting Thursday and it will become clear that INTC is beating the pants off them. Highlighted: SIGM - a play on the slow demise of cable and the rise of getting your television from the phone company (like AT&T;‘s TV service U-verse - available in 2010). SIGM designs and produces the chips for set-top boxes. Capacity is SIGM’s only problem, they can’t make enough to supply the demand. Sigma could be another SNCR (up 28% since recommended 11/26). Time to buy SIGM? when BRCM & STM announces they are going to have a competing product at the CES trade show, in January. VIEWER CALLS: RIMM (they and AAPL will prove to be the EMC and AMGN’s of this era, any company that can override a recession is good, believes RIMM / AAPL can and will go higher). VMW (cheaper to buy EMC than VMW itself, rather buy the parent then the sub). PFS (looks good, prefer HCBK). Cramer welcomed CEO of MRX to discuss their new anti-wrinkle treatment it just submitted to FDA for approval. Cramer says its more connected to its customers than AGN is, the maker of Botox. MRX may be a stock to take a look at when the year-end tax-loss selling dies down. SUDDEN DEATH: (Bullish) THC, HNZ; (Bearish) ACXM, VLO. LIGHTENING ROUND: (Bullish) ISRG; TXT; SI; PHG; SYT; BG; MON; SPWR; FSLR; CSCO; PPD. (Bearish) FRPT; LCC; CTSH. :theflyonthewall.com |
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December 11, 2007
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| 23:20 EDT | | CFC |
| theflyonthewall.com: | Hot Stocks story about CFC | | Cramer said he was disappointed, saddened and angered by the Fed action to cut rates only by a "dinky" quarter-point. He says the Fed "dreadfully misunderstand" the seriousness of the current crisis and is out of touch with reality. Because of the Fed's recklessness, it's time to return to the 1990 playbook and buy defensive stocks like KO, PEP, MRK and MO. Cramer said he has a great foreign growth story that people should consider buying, which is Focus Media (FMCN). The stock is one of his four horsemen of china (the other 3 are: BIDU, PTR, CHL). Cramer said he wouldn't be surprised if Google (GOOG) tried to buy a stake in Focus Media to get into the advertising market in China. The market is nervous about margins due to Focus Media's acquisitions, but Cramer said he's not. Focus Media could move to $75 next year. Cramer says tight now the money is in helium, and that means it's time to look at pulling the trigger on Air Products & Chemicals (APD). One of their smaller competitors recently raised its prices, and now Air Products has the opportunity to do the same. It's time to take APD it to $120 and beyond, Cramer said. Stick with Celgene (CELG). Cramer welcomed the COO to the show to make sense of the recent stock decline and to talk about Revlimid. Cramer told viewers he's staying with Celgene. LIGHTENING ROUND: (Bullish) GEF; FMCN; ALTH; HPQ; EK; AMX; DYN; AUY; ABX; SIRI; D and RATE. (Bearish) CFC, XRX; FMD; CIT; TRK; BIG; CDE; AMSR and INTU :theflyonthewall.com |
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December 9, 2007
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| 23:01 EDT | | CFC |
| theflyonthewall.com: | Periodicals story about CFC | | Most stock-repurchase programs In the short term raise hope, but they usually don't produce lasting benefits. Since late 2004, companies have been expanding their stock buyback programs, but financed by taking on more debt. Many argue that, by decreasing the amount of stock in circulation, buybacks push up stock prices, they boost reported earnings and they take unused cash off the balance sheet, appeasing impatient investors by showing he company is doing something with the money on the balance sheet. But a study by Standard & Poor's equity analysts Todd Rosenbluth and Stewart Glickman suggests that buybacks often are a waste of a corporation's cash. "The study finds that most repurchases don't support share prices for long and don't even sop up many shares". Barron's reports that since the start of 2006 through mid-2007, 423 of the 500 S&P; companies engaged in buybacks. The study also found, the shares of just 103 of the 423 outpaced the S&P;'s 22% gain as of Sept. 30. Among the top performers were AMZN, FCX, MON, SII & SLB. And, it can be argue that most of their gains came from the boom in energy and commodities prices, rather than their share repurchases. In fact, the study found, companies that were the most aggressive buyers, measured by the value of shares purchased as a percentage of total stock-market capitalization, had the weakest performance. Some of the biggest losers were: CC; KBH; PHM;C TX and CFC. :theflyonthewall.com |
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December 7, 2007
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| 16:01 EDT |  | CFC |
| theflyonthewall.com: | Option Update – December 7, 2007 | | Volatility Index S&P; 500 Options-VIX up .05 to 21.01. Option volume leaders today were: AAPL DELL CFC & C according to Track Data. :theflyonthewall.com |
| | 08:26 EDT | | CFC |
| theflyonthewall.com: | Technical Analysis story about CFC | | It is a whisper thin pre-market session with the potential for some major price shifts (tech up, financials shaky) but with incredibly small volumes. We can expect this to continue up to the 11th and we may already be in pre-holiday doldrums. The major volume mover this morning is Washington Mutual (WM), trading up +0.63% on no news that we can see. Research in Motion (RIMM) is trading up +1.3% after Citigroup punted PALM saying they continue to favor RIMM. E-Trade (ETFC) is flat on the session, no news but heavier than normal volume. Countrywide Financial (CFC) is trading up fractionally despite concerns expressed in the WSJ this morning that the company may yet face bankruptcy. Align Technology (ALGN) is trading up +2.2% after Jefferies upgraded the name to Hold from Underperform with a $19 price target. The big downside mover so far this morning is Capital One (COF), trading down (-6.54%) on light volume after Morgan Stanley and Merrill Lynch downgraded the shares (see notes here for details). :theflyonthewall.com |
| | 07:22 EDT | | CFC |
| theflyonthewall.com: | As Countrywide Financial's troubles continue, its survival is unclear-WSJ | | "I'd rather be breathing than dead," Countrywide's CEO Angelo Mozilo remarked earlier this week. The nation's largest mortgage lender may have a pulse, but its chance of survival is at stake, according to the Wall Street Journal's "Heard on the Street". Bankruptcy protection or the sale of large amounts of new stock may still be ahead. The stock is trading at about 53% of its September 30 book value of $23 a share. It's bonds are selling at "junk" levels."The market is really concerned about the possibility of default,"says Steven Persky, CEO of Dalton Investments. :theflyonthewall.com |
| | 06:27 EDT | | CFC |
| theflyonthewall.com: | On The Fly: Periodicals Wrap-Up for Friday, December 7th | | WALL STREET JOURNAL: The Wall Street Journal's "Deal Journal" reported that Sam Zell's planned buyout of Tribune Company (TRB) is contingent on the receipt of a solvency opinion, and that this is the first time they have ever seen a deal dependant on this...The WSJ's "Heard on the Street" reported that Countrywide Financial (CFC) may not be out of the woods yet. Despite executives promising a return to profitability, there is still a risk the company may eventually seek bankruptcy protection or "resort to huge sales" of new stock...FINANCIAL TIMES: U.S. private equity group JC Flowers "is understood" to have walked away from the auction for troubled bank Northern Rock, the Financial Times reported...Rupert Murdoch is shaking up the management of News Corp. (NWS.A), the Financial Times reported, giving his son, James Murdoch, control over the company's European and Asian operations, and appointing two trusted executives to lead Dow Jones (DJ) and the Wall Street Journal...BARRON'S ONLINE: Barron's "Weekly Trader" said AutoNation (AN) looks attractive now, despite hovering near a multi-year low. The company has also been on a slow but steady quest to diversify away from unpopular domestic brands by snapping up luxury and import dealerships... :theflyonthewall.com |
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December 6, 2007
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| 16:02 EDT | | CFC |
| theflyonthewall.com: | Option Update – December 6, 2007 | | Volatility Index S&P; 500 Options-VIX down 1.48 to 21.07. Option volume leaders today were: TRB AAPL CFC & RIMM according to Track Data. :theflyonthewall.com |
| | 09:22 EDT | | CFC |
| theflyonthewall.com: | Pre-Market Top 5 Gainers for December 6th 2007 | | The following stocks were the top percentage gainers before the open on solid volume of at least 50K shares, trading at over $10. CFC +4.03%, CMCSA +0.7%, AAPL +0.5%, DELL +0.4%, SOLF +0.3%. :theflyonthewall.com |
| | 08:37 EDT | | CFC |
| theflyonthewall.com: | Technical Analysis story about CFC | | It is a remarkably quiet session despite a torrent of events today, especially same store sales results which normally generate a fair bit of trading. This may be the quiet before the storm on the 11th (Fed day) or an indication that we are already hitting pre-holiday doldrums. The volume leader so far this morning is Comcast (CMCSA), trading up +1.3% after Morgan Stanley upgraded the name to Attractive from Cautious. Apple (AAPL) is trading up +0.9% after a few notable price target bumps (see notes here for details and our technical note on levels). Intel (INTC) is trading up +0.2% following AMD's failure to bring its new low power consumption chip to market (see note here). Solarfun Power (SOLF) is up +4.3% on no specific news. The shares have been active in pre-market sessions this week (positive momentum play). Microsoft (MSFT) is trading up +0.6% on no news. Research in Motion (RIMM) is trading up +0.8% on no specific news (shares are hovering near key support levels, see our technical notes from yesterday). China Resources (CHNR) is up +3.2% on no news. Countrywide Financial (CFC) is trading up +5.16% after it announced plans to double the number of savings offices in branches with higher rates to lure depositors. :theflyonthewall.com |
| | 08:22 EDT | | CFC |
| theflyonthewall.com: | Periodicals story about CFC | | Countrywide Financial (CFC), the troubled mortgage lender, is set to double the number of savings offices it has in its branches by year end. To attract investors, the bank, through its "financial centers," will offer higher rates than its rivals and focus on high-interest savings products. Countrywide is looking to attract "serious savers" like senior citizens. Reference Link :theflyonthewall.com |
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December 5, 2007
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| 22:01 EDT | | CFC |
| theflyonthewall.com: | Jim Cramer's "Mad Money" | | Wednesday evening Cramer talked about another long-term bull market, the Minerals and Mining Sector, which he says is “en fuego“ (on fire). Mining stocks he says, are the best to hold because of the huge global demand for raw materials and the wave of consolidation within the sector. The play for the space is Freeport-McMoRan (FCX). Demand for copper seems to be increasing while supply is decreasing allowing FCX to benefit. The also has “an unbelievably great buyback” going. He doesn’t want to see a takeover of FCX as there is so much upside on its own. Next, Cramer said if his thesis is right on the Fed cutting rates people should consider owning a bank, he feels safe recommending Hudson City Bancorp (HCBK), which he says has “an amazing model”. HCBK stays away from subprime and it holds fewer nonperforming loans than the rest of the banks - even Wells Fargo (WFC). Cramer says, if the Fed cuts rates next week by half a point, the banks should go up, but if it doesn’t’ HCBK has the least to lose, consider owning it. Cramer then talked about a REIT which he thinks is well positioned, Federal Realty Investment Trust (FRT). The CEO joined Cramer and discussed the investment strategy behind his company’s portfolios. Cramer said he is sticking with FRT and suggested others do the same. VIEWER CALLS: MNG (received tender offer from NEM, NEM trying to get back in game, not a fan of NEM but Gold is going higher, in gold only prefer ABX & AUY); in Aluminum ( only play is AA); you want to own Copper (challenge for supply like oil, and demand is there); VFC (should benefit from this cold snap, makes NorthFace clothing); CFC (would own the preferred shares, will benefit if the Fed cuts 50bps); VCLK (if can get FTC investigation closed, it could probably get a bid). LIGHTENING ROUND (Bullish) CVS (unbelievably strong, negative talk about their margins is not true); HPQ (monster quarter, the fact it’s not at $56 now is a travesty, company is “smoking” - its not done); MNST (being set up to be bought); STJ (better than MDT and prefer over BSX); FCX (keeps pushing this name as a copper, gold and China play); RIG; SLB (liked it for 35pts) and RTN (part of his defense play theme, prefers over owning TASR). (Bearish) SYY (its ok, consumer not spending like used to, don‘t buy); BSX (have disliked stock for more than 10pts , don’t like balance sheet, made a really bad acquisition, prefer STJ); TIE (prefer ATI - titanium cycle over, be in copper or gold, in FCX) and TASR (better than it use dto be, got a bit of a short squeeze, been a nice run, don‘t buy, buy defense name RTN instead). :theflyonthewall.com |
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December 4, 2007
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| 14:11 EDT | | CFC |
| theflyonthewall.com: | Stocks with aggressive December option implied volatility with liquid volume | | Stocks with aggressive December option implied volatility with liquid volume; ETFC option implied volatility is at 140, CSUN-130, CFC-121, HOKU-127 and ABK-113 according to Track Data. :theflyonthewall.com |
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December 3, 2007
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| 11:11 EDT | | CFC |
| theflyonthewall.com: | Hot Stocks story about CFC | | This is being reported by CNBC. :theflyonthewall.com |
| | 09:42 EDT | | CFC |
| theflyonthewall.com: | Hot Stocks story about CFC | | :theflyonthewall.com |
| | 08:24 EDT | | CFC |
| theflyonthewall.com: | Hot Stocks story about CFC | | This is being reported by Reuters, citing OTS Chief Reich. :theflyonthewall.com |
| | 06:46 EDT | | CFC |
| theflyonthewall.com: | On The Fly: Periodicals Wrap-Up for Monday, December 3rd | | WALL STREET JOURNAL: In a move to capitalize on its Hollywood franchise, JP Morgan (JPM) is expected to announce plans today to invest $200M of its own money into the entertainment industry...While stocks like Countrywide Financial (CFC) may face big discounts to book value, signs of the turmoil in the credit market are beginning to appear elsewhere causing analysts to remain cautious on jumping back in to banking stocks...GUARDIAN UNLIMITED: With the recent news of a 3-for-1 share proposal for Rio Tinto (RTP) by BHP Billiton (BHP), rumors have been flying of another potential merger between Anglo American (AAUK) and Xstrata...FORTUNE: Liz Claiborne (LIZ) has received at least two final round bids for nine of its apparel brands, but the outcome is in doubt as some of the potential suitors dropped out... :theflyonthewall.com |
| | 06:36 EDT | | CFC |
| theflyonthewall.com: | Too early to jump back into banks?-WSJ | | While investors don't want to miss a rebound on banking stocks, analysts believe it may still be too early to jump back in. While stocks like Countrywide Financial (CFC) may face big discounts to book value, signs of the turmoil in the credit market are beginning to appear elsewhere. :theflyonthewall.com |
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December 2, 2007
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| 10:09 EDT | | CFC |
| theflyonthewall.com: | Hot Stocks story about CFC | | Friday's show: Cramer recommending investors stick with the Financials, you can still rake in the profits, get in bed with the Financials. Following the 1990 playbook it appears as if the Financials have bottomed and are the stocks people want to buy. Cramer advised viewers to continue to buy WB, BAC, C and the preferred shares of CFC. Also, NLY (his favorite) should get a lot more attractive as the Fed cuts short-term rates. Cramer then added Sprint's CEO, Paul Saleh, to the Wall of Shame (Saleh needs to go, he wants former CEO of Nextel, Don back). Motorola's CEO Ed Zander dropped off the Wall of Shame now that he will be leaving the company. The removal doesn't mean its time to start buying MOT stock. Zander did so much damage to the company that the stock's return might take a while. Other Wall of Shamer's: Patricia Russo of ALU; Hector Ruiz of AMD; Lee Scott of WMT; Michael Cherkasky of MMC; Kerry Killinger of WM. Cramer talked about Molybdenum, the chemical that is used to make stainless steel stronger. Companies that mine Molybdenum (pure plays): General Moly (GMO - MT has a stake in it) and Thompson Creek Metals (TC, speculative stock, cheapest of the two names). Another speculative stock for viewers to consider, is Tenet Healthcare (THC). Analysts are worried about liquidity issues and the company's bad debt. Cramer loves that the street is so bearish because he believes the company will deliver and could go as high as $8 (avg street tgt is $3.75) - don't immediately pull the trigger, buy a little bit in 5 days and wait for a pullback to buy more - likes under $5. Cramer likes Tenet because it saves lives, is insensitive to the economy, shows signs of turning around and it has new management. THC has become one of Cramer's favorite names out there. MAD MAIL: MASI (expect it to continue to be "a pistol" and go higher - diagnostic name - likes that group); SSL (single best coal stock, but if investors have gains in it, take some profits); BRCD (he liked everything said on conf call, buy it right here, wasn't concerned about the guidance). LIGHTENING ROUND: WFC (likes it); C (systematic mgmt problems, mgmt is a disgrace; short-term bearish); WAL (geographically Vegas is not an area where he wants to be; if you want a Thrift he likes HCBK); ABT (great company - likes other diagnostic stocks: BAX, BDX, BCR - all terrifc stocks); PCU (terrific stock, but own FCX instead its cheap and has gold, copper and China play); JWN (should be back to $36, buy it); APC (terrific name; also likes APA, DVN, and favorite in group is XTO - great run oil & gas plays); TT (the old American Standard, was going to recommend it, done with restructuring, probably doesn't stay independent); NTRS & STT (two best run financial stocks in the group, great American banks); INFN (another digital optical play, don't want to be in Optical - also CIEN, JNPR group got too hot for Cramer); however, LVLT (think CEO this week on his show will tell a good story); ETFC (a loser, people gonna get hurt, worst portfolio known to man); AHR (a residential REIT - buy NLY instead). :theflyonthewall.com |
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