Feds plan to rescue Fannie Mae Freddie Mac: related news

Feds plan to rescue Fannie Mae, Freddie Mac

Paulson and Bernanke proposal would give mortgage finance giants bigger line of credit with Treasury and open NY Federal Reserve lending window.

Fannie Mae, Freddie Mac hold critical role in home mortgage system

Jul. 15--Consumers might not feel connected to Fannie Mae or Freddie Mac, but there's a good chance the agencies helped them buy a home.

Fannie Mae, Freddie Mac hold critical role in home mortgage system

(The Pittsburgh Tribune-Review Via Acquire Media NewsEdge) Jul. 15--Consumers might not feel connected to Fannie Mae or Freddie Mac, but there's a good chance the agencies helped them buy a home.

RAD Bad, CVS Good - Cramer's Stop Trading! (7/9/08))

(BAC), Fannie Mae (FNM), Freddie Mac (FRE): After a sluggish close of the trading day, Cramer blamed financials and says he is worried about Bank of America. He called on the Presidential candidates to discuss a plan of action in case a major bank fails. While financials affect other sectors, Cramer doesn't think the slowing of this sector should lead one to be bearish on stocks in general, and he looks to safer areas such as healthcare. Cramer doesn't think a dramatic fall in oil will be great for stocks, since a lot of the S&P 500 is levered to oil. He added Fannie Mae and Freddie Mac are "technically insolvent."

Analyst Actions: Fannie Mae, Amazon.com, VeriSign, Qwest

Analyst Frederick Cannon says Fannie Mae on Friday posted a $2.54 second quarter loss, much wider than the 79 cents consensus and his 89 cents estimate. He notes Fannie also stated a number of measures to preserve capital, including limited portfolio loan growth, a dividend cut, and expense cuts. Cannon feels scaling back on portfolio growth is especially important as it means the benefit to Fannie from widening credit spreads is limited, capital raises are dilutive to future earnings. The analyst widened his $2.77 2008 loss estimate to a $7.00 loss and cut his $1.07 2009 EPS forecast to a $1.50 loss, reflecting the second quarter earnings miss and increased credit loss assumptions going forward. he cut his $48 price target to $10

House votes to back Fannie Mae, Freddie Mac, stem foreclosures

Bush drops his veto threat and signals he will sign the measure as Republican lawmakers argue that the plan is a government bailout. Senate could approve the measure by next week.

Holzer Holzer & Fistel, LLC Announces Investigation Into UBS AG 401(k) Retirement Savings Plan

ATLANTA, July 29, 2008 (PRIME NEWSWIRE) -- Holzer Holzer & Fistel, LLC is investigating possible violations of the Employee Retirement Income Security Act of 1974 related to UBS AG's (``UBS'' or the ``Company'') (NYSE:UBS - News) 401(k) Retirement Savings Plan (the ``Plan''). The investigation centers on whether UBS and the Plan administrators breached their fiduciary duties to Plan participants by, among other things, making imprudent investments in Company stock and otherwise failing to prudently and loyally manage the Plan's investments.

Saving Fannie Mae, Freddie Mac

Paulson and Bernanke proposal would give mortgage finance giants bigger line of credit with Treasury and open NY Federal Reserve lending window.

Movers: eBay, JPMorgan, Fannie Mae, Freddie Mac, Nokia, United Technologies

EBay (EBAY) posts $0.43, vs. $0.34 a year ago, second quarter non-GAAP EPS on 20% revenue rise. Non-GAAP operating margin decreased to 31.9% primarily due to EBAY's faster growing, lower-margin businesses, such as PayPal and Skype. Sees 2008 revenue of $8.8-$9.05 billion, non-GAAP EPS of $1.72-$1.77. For third quarter, sees revenue of $2.1-$2.15 billion, non-GAAP EPS of $0.39-$0.41. Thomas Weisel, Goldman reportedly downgrade.

Movers: eBay, JPMorgan, Fannie Mae, Freddie Mac, Nokia, United Technologies

EBay (EBAY) posts $0.43, vs. $0.34 a year ago, second quarter non-GAAP EPS on 20% revenue rise. Non-GAAP operating margin decreased to 31.9% primarily due to EBAY's faster growing, lower-margin businesses, such as PayPal and Skype. Sees 2008 revenue of $8.8-$9.05 billion, non-GAAP EPS of $1.72-$1.77. For third quarter, sees revenue of $2.1-$2.15 billion, non-GAAP EPS of $0.39-$0.41. Thomas Weisel, Goldman reportedly downgrade.

Movers: eBay, JPMorgan, Fannie Mae, Freddie Mac, Nokia, United

EBay (EBAY) posts $0.43, vs. $0.34 a year ago, second quarter non-GAAP EPS on 20% revenue rise. Non-GAAP operating margin decreased to 31.9% primarily due to EBAY's faster growing, lower-margin businesses, such as PayPal and Skype. Sees 2008 revenue of $8.8-$9.05 billion, non-GAAP EPS of $1.72-$1.77. For third quarter, sees revenue of $2.1-$2.15 billion, non-GAAP EPS of $0.39-$0.41. Thomas Weisel, Goldman reportedly downgrade.

Movers: eBay, JPMorgan, Fannie Mae, Freddie Mac, Nokia, United Technologies

EBay (EBAY) posts $0.43, vs. $0.34 a year ago, second quarter non-GAAP EPS on 20% revenue rise. Non-GAAP operating margin decreased to 31.9% primarily due to EBAY's faster growing, lower-margin businesses, such as PayPal and Skype. Sees 2008 revenue of $8.8-$9.05 billion, non-GAAP EPS of $1.72-$1.77. For third quarter, sees revenue of $2.1-$2.15 billion, non-GAAP EPS of $0.39-$0.41. Thomas Weisel, Goldman reportedly downgrade.

The best Mac DVD Creator - Aimersoft DVD Creator for Mac now released

Aimersoft Studio now released the best DVD burner software on Mac OS X-Aimersoft DVD Creator for Mac to convert movies to DVD and burn DVD movies for portable and home DVD players on Mac OS X.

S&P Picks and Pans: Fannie Mae, Freddie Mac, JPMorgan, eBay, Nokia, Harley Davidson, Merrill Lynch, BlackRock

Broadband Service Provider Trident SR Sdn. Bhd.

Movers: Alcoa, Cisco Systems, Merrill Lynch, Freddie Mac, Fannie Mae, QLogic

Alcoa (AA) posts $0.66, vs. $0.81 a year ago, second quarter GAAP EPS on 5.6% lower sales. Notes that, while second quarter results were down year over year, its profitability compared with the first quarter 2008 rose 80%, as higher input costs impacting the entire aluminum industry were offset by higher volume and stronger pricing. S&P reiterates buy. Friedman Billings upgrades to outperform.

Art Hogan Of Jeffries & Co: I Wouldn't Touch Fannie Mae Or Freddie Mac Stock With A 10-Foot Pole

(RTTNews) - In an interview with RTT News, Art Hogan, chief market analyst at Jeffries & Co. discusses the Dow's plunge below the 11,000 mark, which he says changes "the psychology of Wall Street for Main Street." Hogan says he is not putting cash to work right now because there will be "better entry levels" in the fall.

Art Hogan Of Jeffries & Co: I Wouldn't Touch Fannie Mae Or Freddie Mac Stock With A 10-Foot Pole

(RTTNews) - In an interview with RTT News, Art Hogan, chief market analyst at Jeffries & Co. discusses the Dow's plunge below the 11,000 mark, which he says changes "the psychology of Wall Street for Main Street." Hogan says he is not putting cash to work right now because there will be "better entry levels" in the fall.

Orphaned 401(k) Plan From Defunct Waterbury, Conn., Company Gets FiduciaryLoading...

Jul. 17--A federal court has appointed a consultant to distribute the assets of an abandoned 401(k) plan established by a defunct Waterbury construction company, the U.S. Department of Labor said Wednesday. U.S. District Court for the District of Connecticut appointed Pension Consultants Inc. of Farmington as the independent fiduciary for the VA Construction LLC 401(k) Plan, an employee benefit plan sponsored by VA Construction LLC of Waterbury until it went out of business in 2001. When the company closed, the plan's fiduciaries stopped performing their duties and failed to appoint a successor, said John M. Chavez, a Labor Department spokesman.

Movers: Freddie Mac, Cisco Systems, priceline.com, Whole Foods Market

Freddie Mac (FRE) posts $1.63 second quarter loss, vs. $0.96 EPS a year ago, on 28% revenue drop. It notes other non-interest loss vs. gain last year and sharply higher credit-related expenses. Reaffirms its commitment to raise capital; expects to reduce dividend in third quarter from $0.25 to $0.05 or less per share, and pay full dividends at contractual rates on its preferred stock. S&P maintains sell.

Movers: Freddie Mac, Cisco Systems, priceline.com, Whole Foods Market

Freddie Mac (FRE) posts $1.63 second quarter loss, vs. $0.96 EPS a year ago, on 28% revenue drop. It notes other non-interest loss vs. gain last year and sharply higher credit-related expenses. Reaffirms its commitment to raise capital; expects to reduce dividend in third quarter from $0.25 to $0.05 or less per share, and pay full dividends at contractual rates on its preferred stock. S&P maintains sell.

Global market relief after U.S. move to rescue mortgage giants

Henry Paulson Jr. announced on Sunday that the U.S. Treasury Department and Federal Reserve will aid embattled mortgage lenders Fannie Mae and Freddie Mac.

DVD Creator for Mac - Mac DVD Burner, Burn FLV/AV I/ WMV / HD video to DVD

Wondershare Software, a leading developer of digital video editing and multi-media software provider, has just released a video to DVD burning application for Mac OS – DVD Creator for Mac.

Fifth Third Bancorp, Inc. 401(k) Plan (Master Profit Sharing Plan) is Being Investigated by Schiffrin Barroway Topaz & Kessler, LLP

Fifth Third Bancorp, Inc. 401(k) Plan (Master Profit Sharing Plan) is Being Investigated by Schiffrin Barroway Topaz & Kessler, LLP

DealNN: iPod gear, Mac Pro Quad, Mac Mini

Deals at DealNN for today include the Kensington iPod entertainment dock for $25 from NothingButSoftware.com and the H2O Audio waterproof case for iPod video that was reduced from $89.95 to $49.99 at BestBuy.com. Amazon.com has the Altec Lansing inMotion mobile speaker system for iPod for $45 with free shipping. The Mac Mini with 2.0GHz processor, 1GB of memory and 120GB hard drive is $769 after a $25 mail in rebate at OnSale.com. MacConnection.com has the Mac Pro Quad Core for $2299 with free Fusion software after mail in rebate.

Schiffrin Barroway Topaz & Kessler, LLP Announces ERISA Investigation of Fifth Third Bancorp, Inc. 401(k) Plan (Master Profit Sharing Plan)

Schiffrin Barroway Topaz & Kessler, LLP Announces ERISA Investigation of Fifth Third Bancorp, Inc. 401(k) Plan (Master Profit Sharing Plan)

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