Financial Stocks Under Pressure: MBIA Inc. (NYSE:MBI), Homex Development (NYSE:HXM), Senior Housing Properties Trust (NYSE:SNH)
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MBIA Inc. (NYSE:MBI) declined sharply after failure to win a pretrial ruling in opposition to Bank of America Corp. (BAC)’s Countrywide Financial unit in a lawsuit claiming the mortgage lender violated its contract to repurchase loans. New York State Supreme Court Justice, Eileen Bransten, in Manhattan, ruled against bond insurer MBIA’s argument it had already shown Countrywide should have to repurchase loans it claims were more risky than represented. The company promises payments to investors that bought securities backed by pools of Countrywide’s loans.
Has MBI Found The Bottom and Ready To Move Up? Find Out Here
MBIA Inc. (NYSE:MBI) decreased -4.37%, to close at $9.85 in the last trading session and its total traded volume was 3,873,800 shares, less than the average volume of 4.31 million. The company has market cap of $1.90 billion.
It has earnings per share of $6.33, net profit margin of 50.68% and operating margin of 65.63%. The stock has positive year-to-date performance of 25.48% and is trading above its 50 day moving average of -9.11% and 200 day moving average of -0.17%.
Homex Development Corp. (ADR) (NYSE:HXM) extended declines after disclosing that its first-quarter net income and sales decreased sharply, as it struggled with slowing home sales and a rising debt load, the company said on Thursday. Profit for the quarter tumbled to 95.265 million pesos ($7.7 million), as compared to 729.97 million pesos in the year-earlier quarter. Revenue for the period lost about 50%, to 3.331 billion pesos, from 6.187 billion pesos.
Why Should Investors Buy HXM After the Recent Fall? Just Go Here and Find Out
Homex Development Corp. (ADR) (NYSE:HXM) declined -3.09% and closed at $5.02 in the last trading session with the total traded volume of 1,650,600 shares. That’s more than the average volume of 1.21 million. HXM is now trading above its 50 day moving average of -49.80% and 200 day moving average of -59.32%.
It has outstanding shares of 55.94 million with the total market cap of $280.16 million and its beta value stands at 2.25 times, which shows that the stock is more volatile.
Senior Housing Properties Trust (NYSE:SNH) plunged after the company posted $0.43 EPS for the quarter, falling short of the Thomson Reuters consensus estimate of $0.44, by $0.01. Revenue for the quarter was $189.43 million, compared to the consensus estimate of $190.77 million.
Has SNH Found The Bottom And Ready To Gain Momentum? Find Out Here
Senior Housing Properties Trust (NYSE:SNH) dropped -1.33%, to close at $28.21 and its overall volume in the last trading session was 2,213,100 shares, more than the average volume of 1.88 million. SNH hit the day high price of $28.50 and day low of $27.79.
The stock is trading with positive year-to-date performance of +19.33%. The company has total market cap of $5.30 billion.
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