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FNMA

Fannie Mae

$0.00

(0.00%)

, FMCC

Freddie Mac

$0.00

(0.00%)

09:16
09/30/19
09/30
09:16
09/30/19
09:16

Fannie Mae permitted to maintain capital reserves of $25B, Freddie Mac $20B

The U.S. Department of the Treasury and the Federal Housing Finance Agency announced that they had agreed to modifications to the Preferred Stock Purchase Agreements, or PSPAs, that will permit Fannie Mae (FNMA) and Freddie Mac (FMCC) to retain additional earnings in excess of the $3B capital reserves currently permitted by their PSPAs. Under the modifications announced today, Fannie Mae and Freddie Mac will be permitted to maintain capital reserves of $25B and $20B, respectively. These changes to the PSPAs were recommended in the Treasury Housing Reform Plan released on September 5, Treasury noted. To compensate Treasury for the dividends that it would have received absent these modifications, Treasury's liquidation preferences for its Fannie Mae and Freddie Mac preferred stock will gradually increase by the amount of the additional capital reserves until the liquidation preferences increase by $22B for Fannie Mae and $17B for Freddie Mac. Reference Link

FNMA

Fannie Mae

$0.00

(0.00%)

FMCC

Freddie Mac

$0.00

(0.00%)

  • 27

    Oct

FNMA Fannie Mae
$0.00

(0.00%)

09/06/19
RILY
09/06/19
NO CHANGE
RILY
Fannie Mae can maintain positive equity value, says B. Riley FBR
The Treasury Department's report on housing reform last night was balanced, initiating a path toward the end of government conservatorship of the government-sponsored enterprises, but not offering decisive moves that some had hoped for, B. Riley FBR analyst Randy Binner tells investors in a research note. The key positive takeaway for GSE equity and preferred holders was that the prospect of allowing the GSEs to build capital by a reduction of the cash flow sweep was introduced, contends the analyst. He adds that while Treasury was clear in its view that the conservatorship cannot last indefinitely, the executive branch has expansive statutory authority to begin the process. Fannie Mae's (FNMA) equity value has a range of potential outcomes, but positive equity value can be maintained, Binner writes. He views Fannie Mae common and preferred securities as a "call option on a large and increasingly sophisticated financial company" that would "thrive in the private market." Binner keeps a Neutral rating on Fannie Mae with a $2 price target. The stock in premarket trading is down 15c to $2.82.
09/09/19
COMP
09/09/19
UPGRADE
COMP
Buy
Fannie Mae upgraded to Buy from Neutral at Compass Point
09/09/19
COMP
09/09/19
UPGRADE
COMP
Buy
Compass Point upgrades Fannie Mae, Freddie Mac to Buy after Collins verdict
As previously reported, shares of Fannie Mae (FNMA) and Freddie Mac (FMCC) were both upgraded to Buy from Neutral at Compass Point as analyst Chris Gamaitoni believes the Fifth Circuit delivered Government-Sponsored Enterprise shareholders "a significant victory" with its decision on September 6 in "Collins v. Mnuchin." The Collins case deemed the FHFA unconstitutionally structured, with the remedy being to eliminate the "for cause" removal provision, and he believes the ruling adds a sense of urgency to move toward a recapitalization plan to formalize operational restrictions. He also thinks the ruling increases the odds of the GSEs receiving compensation for their overpayment of the original terms of the PSPA, Gamaitoni tells investors. He has a $7.00 price target on Freddie Mac shares and a $7.75 price target on Fannie Mae.
09/11/19
RILY
09/11/19
NO CHANGE
Target $3
RILY
Neutral
Fannie Mae price target raised to $3 from $2 at B. Riley FBR
B. Riley FBR analyst Randy Binner raised his price target for Fannie Mae to $3 from $2 while maintaining a Neutral rating on the shares. While the combination of the recent Treasury report, the Fifth Circuit Court decision, and comments from regulators "are constructive for all shareholders, the equity still faces a wide range of outcomes given significant dilution from a potential recap," Binner tells investors in a research note. He continues to believe the junior preferreds "have much less dilution risk." The analyst continues to view Fannie Mae common and preferred securities as a call option on a "large and increasingly sophisticated financial company" that could "thrive" in the private market.
FMCC Freddie Mac
$0.00

(0.00%)

08/14/19
COWN
08/14/19
NO CHANGE
COWN
FHFA rule a risk to FICO, but competition not a guarantee, says Cowen
Cowen Washington Group Research analyst Jaret Seiberg believes the rule announced yesterday by the Federal Housing Finance Agency establishing a process for Fannie Mae (FMNA) and Freddie Mac (FMCC) to adopt new credit scoring models is a positive for Vantage Score and a risk to Fair Isaac's (FICO) FICO. However, the FHFA process "is measured in years and not weeks," so this will not be a quick effort even if Vantage Score can win approval of its model, Seiberg tells investors in a research note. Further, there is no guarantee that FICO will have a rival to its credit score model for mortgages backed by Fannie and Freddie as the process is long and complicated to get new models approved, adds the analyst. With that said, Seiberg points out that FICO is not guaranteed to have one of its credit scoring models approved at the end of this process. After dropping yesterday, shares of Fair Isaac are down another 2.5% to $328.80 in early trading.
09/09/19
COMP
09/09/19
UPGRADE
COMP
Buy
Freddie Mac upgraded to Buy from Neutral at Compass Point

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TSN

Tyson Foods

$89.00

6.3 (7.62%)

09:32
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Tyson Foods analyst commentary  »

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EXPI

eXp World Holdings

$9.96

0.13 (1.32%)

09:32
11/13/19
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Conference/Events
eXp World Holdings management to meet with DA Davidson »

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TRPX

Therapix Biosciences

$1.41

-0.16 (-10.19%)

09:32
11/13/19
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09:32
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09:32
Hot Stocks
Therapix Biosciences says Phase IIa study of THX-110 met primary endpoint »

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MLM

Martin Marietta

$255.29

-0.7 (-0.27%)

09:31
11/13/19
11/13
09:31
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09:31
Conference/Events
House Science, Space & Technology Committee to hold a hearing »

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  • 13

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EEFT

Euronet

$149.96

1.99 (1.34%)

09:30
11/13/19
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09:30
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09:30
Conference/Events
Euronet management to meet with Needham »

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  • 14

    Nov

DG

Dollar General

09:30
11/13/19
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Dollar General analyst commentary  »

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  • 05

    Dec

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    Dec

BGNE

BeiGene

$196.20

4.5 (2.35%)

09:30
11/13/19
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09:30
Downgrade
BeiGene rating change  »

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  • 07

    Dec

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    Feb

DEO

Diageo

$157.94

-1.87 (-1.17%)

09:29
11/13/19
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09:29
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09:29
Conference/Events
Diageo management to meet with RBC Capital »

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  • 14

    Nov

DBD

Diebold

$8.10

0.025 (0.31%)

09:28
11/13/19
11/13
09:28
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09:28
Conference/Events
Diebold management to meet with DA Davidson »

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  • 14

    Nov

CBPX

Continental Building

$35.76

3.73 (11.65%)

, GMS

GMS Inc.

$30.73

0.21 (0.69%)

09:27
11/13/19
11/13
09:27
11/13/19
09:27
Recommendations
Continental Building, GMS Inc., Foundation Building Materials analyst commentary  »

Continental Building…

CBPX

Continental Building

$35.76

3.73 (11.65%)

GMS

GMS Inc.

$30.73

0.21 (0.69%)

FBM

Foundation Building Materials

$21.20

0.2 (0.95%)

03/08/13
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  • 13

    Nov

CRLBF

Cresco Labs

$0.00

(0.00%)

09:27
11/13/19
11/13
09:27
11/13/19
09:27
Conference/Events
Cresco Labs management to meet with Piper Jaffray »

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  • 14

    Nov

CNI

Canadian National

$93.08

-0.485 (-0.52%)

09:25
11/13/19
11/13
09:25
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09:25
Conference/Events
Canadian National management to meet with RBC Capital »

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  • 13

    Nov

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    Nov

BRTX

BioRestorative Therapies

$0.00

(0.00%)

09:25
11/13/19
11/13
09:25
11/13/19
09:25
Conference/Events
BioRestorative Therapies to host special shareholder meeting »

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  • 13

    Nov

TLRY

Tilray

$21.57

-0.4 (-1.82%)

09:25
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09:25
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Tilray analyst commentary  »

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09:25
11/13/19
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09:25
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09:25
General news
Fed Chair Powell goes to Capitol Hill for his JEC testimony »

Fed Chair Powell goes to…

EL

Estee Lauder

$187.89

0.63 (0.34%)

09:24
11/13/19
11/13
09:24
11/13/19
09:24
Recommendations
Estee Lauder analyst commentary  »

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  • 15

    Nov

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BWEN

Broadwind Energy

$1.53

(0.00%)

09:24
11/13/19
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09:24
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09:24
Conference/Events
Broadwind Energy management to meet with Oppenheimer »

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  • 14

    Nov

BLDR

Builders FirstSource

$24.75

0.4 (1.64%)

09:22
11/13/19
11/13
09:22
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09:22
Conference/Events
Builders FirstSource management to meet with Wedbush »

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  • 13

    Nov

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  • 05

    Dec

NVFY

Nova Lifestyle

$0.54

(0.00%)

09:21
11/13/19
11/13
09:21
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09:21
Earnings
Nova Lifestyle reports Q3 revenue $9.3M vs. $16.7M last year »

Tawny Lam, Chairperson…

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AMN

AMN Healthcare

$60.42

0.53 (0.88%)

09:20
11/13/19
11/13
09:20
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Conference/Events
AMN Healthcare management to meet with Sidoti »

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  • 14

    Nov

PHOT

GrowLife

$0.00

(0.00%)

09:20
11/13/19
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09:20
Earnings
GrowLife reports Q3 revenue $2.3M vs. $1M last year »

GrowLife CEO Marco Hegyi…

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AIMT

Aimmune

$28.32

-0.45 (-1.56%)

09:19
11/13/19
11/13
09:19
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09:19
Conference/Events
Aimmune management to meet with Piper Jaffray »

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  • 14

    Nov

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    Nov

NLTX

Neoleukin Therapeutics

$3.00

0.035 (1.18%)

09:19
11/13/19
11/13
09:19
11/13/19
09:19
Hot Stocks
Neoleukin Therapeutics expects cash to fund operations through 2021 »

Cash and cash equivalents…

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NLTX

Neoleukin Therapeutics

$3.00

0.035 (1.18%)

09:18
11/13/19
11/13
09:18
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09:18
Earnings
Neoleukin Therapeutics reports Q3 EPS ($2.26), one est. (4c) »

"The past quarter…

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