Word abonnee en neem Beursduivel Premium
Rode planeet als pijlen grid met hoorntjes Beursduivel
Uitgebreid zoeken

Amerikaanse aandelen Terug naar discussie overzicht

FMT Fremont General Corp.

1.142 Posts
Pagina: «« 1 ... 7 8 9 10 11 ... 58 »» | Laatste | Omlaag ↓
  4. [verwijderd] 1 maart 2008 00:16

    • [verwijderd]

      Lid sinds: 01 jan 0001

      Laatste bezoek: 01 jan 0001

    • Aanbevelingen

      Ontvangen: 0

      Gegeven: 0

    •    Aantal posts: 0

    Moody's downgrades Fremont General Corp.

    By Sue Chang
    Last update: 6:07 p.m. EST Feb. 29, 2008Print RSS Disable Live Quotes

    SAN FRANCISCO (MarketWatch) - Moody's Investors Service Friday downgraded the ratings of Fremont General Corp. (FMT:FMT (senior to Ca from Caa3) and its subsidiary, Fremont Investment and Loan (deposits to Caa2 from B3 and issuer rating to Ca from Caa1). The outlook on Fremont General and Fremont Investment & Loan remains negative. The downgrades were in response to Fremont General's announcing that it will defer dividends on its trust preferred securities and poor liquidity at the holding company, according to Moody's. Separately, Standard & Poor's said Fremont General will be removed from the S&P SmallCap 600 index after close of trading on Monday. The company's market cap is $79 million whereas the minimum that a company must maintain is $300 million
  5. [verwijderd] 1 maart 2008 13:20

    • [verwijderd]

      Lid sinds: 01 jan 0001

      Laatste bezoek: 01 jan 0001

    • Aanbevelingen

      Ontvangen: 0

      Gegeven: 0

    •    Aantal posts: 0

    AP
    S&P Removes Fremont From SmallCap Index
    Friday February 29, 6:16 pm ET
    S&P Removes Fremont From SmallCap Index Amid Massive Sell-Off; Pennsylvania REIT to Replace

    NEW YORK (AP) -- Standard & Poor's said Friday it will remove Fremont General Corp. from its SmallCap 600 Index because its market value no longer meets the minimum standard for inclusion.
    The financial-services holding company saw its shares plummet nearly 58 percent on Friday, to close at $1, then drop another 3 percent to 97 cents in after-hours trading. Its market value was about $79 million at Friday's close, far below the $300 million required to be part of the SmallCap Index.


    Fremont said Thursday evening that it it might have to record more write-downs than it originally reported and is considering putting itself up for sale.

    Fremont will be removed from the index at the close of trading Monday. Pennsylvania Real Estate Investment Trust will be added in its place on Wednesday.

    S&P will also replace medical-device maker Respironics Inc. with rocket and space-system developer Orbital Sciences Corp. at the close of trading Thursday. Respironics is set to be acquired by Royal Philips Electronics around that day.

  10. [verwijderd] 4 maart 2008 15:22

    • [verwijderd]

      Lid sinds: 01 jan 0001

      Laatste bezoek: 01 jan 0001

    • Aanbevelingen

      Ontvangen: 0

      Gegeven: 0

    •    Aantal posts: 0

    Press Release Source: Fremont General Corporation

    Fremont General Corporation Announces Receipt of Notice of Covenant Default With Respect to Guaranties Issued in Connection With Certain Prior Residential Sub-Prime Loan Sale Transactions
    Tuesday March 4, 9:00 am ET

    BREA, Calif., March 4 /PRNewswire-FirstCall/ -- Fremont General Corporation ("Fremont General" or the "Company") (NYSE: FMT - News), doing business primarily through its wholly-owned bank subsidiary, Fremont Investment & Loan ("Bank"), announced today that it has received notices from two affiliated third party purchasers of an aggregate of $3.15 billion of residential sub-prime mortgage loans that it had sold in March 2007, alleging that the Company was in default with respect to at least one of several obligations that the Company had undertaken in connection with such loan sales (the "Notices").
    ADVERTISEMENT


    In March 2007, the Bank entered into two agreements (the "Loan Sale Agreements") with respect to the sale of residential sub-prime mortgage loans and related servicing to two affiliated third party purchasers as reported in the Company's news release which was reported in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 21, 2007. To support the Bank's obligation to repurchase any loans that were sold in the transaction, which might subsequently breach any of the specific representations and warranties made in connection with the Loan Sale Agreements, Fremont General provided each of the purchasers with a guaranty to honor any of the Bank's obligations under such Loan Sale Agreements. In support of such guaranties, Fremont General covenanted that for two years following the effective date of such loan sale transactions (and for three years, if in connection with a sale, liquidation and certain other types of transactions involving the Company), it would not permit the Company's "tangible net worth," as defined, at any time to be less than $250 million. To the extent that Fremont General fails to comply with such covenant, it agreed to either provide a letter of credit acceptable to the purchasers in an amount equal to the tangible net worth deficiency (i.e., the difference between $250 million and Fremont General's then tangible net worth on an ongoing basis), or deposit into a reserve account from sources that would not otherwise further diminish the Company's tangible net worth an amount that would be equal to such tangible net worth deficiency. Fremont General further agreed to deliver, on a quarterly basis after the effective date of the loan sale transactions, specified financial statements on both a consolidated basis and also of the Bank, along with a certification of the Company's chief financial officer, both with respect to such financial statements and as to compliance with the referenced tangible net worth covenant.

    Fremont General has determined that the financial statement delivery obligations and related certifications for the quarters ended June 30, September 30 and December 31, 2007 were not delivered by Fremont General as required by the guaranties. Moreover, as previously disclosed in connection with ongoing reviews and the Company's preparation of its 2007 consolidated financial statements, which have not yet been completed, Fremont General and the Bank may need to record additional asset write-downs and reserves, which could result in further losses or, alternatively, will require the Bank to adjust downward its regulatory capital. Consequently, the Company's new management is not yet able to make delivery of its December 2007 financial statements and the related certifications required by the guaranties. The Notices require Fremont General to provide the purchasers either with assurances that Fremont General meets the referenced tangible net worth covenant or to take the actions called for by the guaranties as discussed above. At this time, the Company's new management cannot confirm that Fremont General is able to satisfy the tangible net worth covenant as of December 31, 2007 due to its ongoing efforts to complete its 2007 consolidated financial statements, but believes it is likely that Fremont General will not be in compliance with such covenant at December 31, 2007 and, therefore, would be in default under the guaranties, as a result of the losses incurred during 2007 coupled with the possible additional write-downs and reserves that it may be required to establish. Under such circumstances, and given the Company's limited available liquidity and overall financial condition, Fremont General is not in a position to either provide a letter of credit or deposit cash into a reserve account. Although the Company's new management has initiated discussions with the purchasers to seek a waiver of this guaranty requirement, no assurances can be made as to whether such discussions will be successful or that the purchasers will not file a lawsuit against the Company or declare an event of default. To the extent that litigation is pursued and the Company was not successful in defending any such lawsuit, its ability to continue to conduct business as a going concern would be called into question.

    As of the date hereof, the purchasers had previously requested the Bank to repurchase approximately $11 million of the loans sold under the Loan Sale Agreements due to alleged breaches of representations and warranties. The Bank is evaluating these requests as it does with all such repurchase requests to determine whether they are appropriate. The Notices do not allege that the Bank is in breach of its obligations under the Loan Sale Agreements, but rather that Fremont General has failed to deliver the required financial statements and related certifications required under the guaranties.

    About Fremont General

    Fremont General Corporation is a financial services holding company with $8.8 billion in total assets, at September 30, 2007. The Company is engaged in deposit gathering through a retail branch network located in the coastal and Central Valley regions of Southern California and residential real estate mortgage servicing through its wholly-owned bank subsidiary, Fremont Investment & Loan. Fremont Investment & Loan funds its operations primarily through deposit accounts sourced through its 22 retail banking branches which are insured up to the maximum legal limit by the Federal Deposit Insurance Corporation.

    The Retail Banking Division of the Bank continues to offer a variety of savings and money market products as well as certificates of deposits across its 22 branch network. Customer deposits remain fully insured by the FDIC up to at least $100,000 and retirement accounts remain insured separately up to an additional $250,000.

    To find out more about Fremont General, or to subscribe to the Company's email alert feature for notification of Company news and events, please visit www.fremontgeneral.com.

    Regulatory Filings

    The Company's periodic reports as filed with the SEC can be accessed at www.fremontgeneral.com and on the EDGAR's section of the SEC's website at www.sec.gov.

    Forward-Looking Statements

    This news release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are made pursuant to the safe harbor provisions of the Private Securities Litiga
  19. [verwijderd] 4 maart 2008 19:03

    • [verwijderd]

      Lid sinds: 01 jan 0001

      Laatste bezoek: 01 jan 0001

    • Aanbevelingen

      Ontvangen: 0

      Gegeven: 0

    •    Aantal posts: 0

    quote:

    GhosTWolF schreef:

    [quote=tonpa]
    Was weer een sterke tip van ................
    [/quote]
    Wat bedoel je nou precies?
    Ben je werkelijk zo simpel? Lees het begin van het draadje eens en door wie.
1.142 Posts
Pagina: «« 1 ... 7 8 9 10 11 ... 58 »» | Laatste |Omhoog ↑

Neem deel aan de discussie

Word nu gratis lid van Beursduivel.be

Al abonnee? Log in

Direct naar Forum

Zoek alfabetisch op forum

  1. A
  2. B
  3. C
  4. D
  5. E
  6. F
  7. G
  8. H
  9. I
  10. J
  11. K
  12. L
  13. M
  14. N
  15. O
  16. P
  17. Q
  18. R
  19. S
  20. T
  21. U
  22. V
  23. W
  24. X
  25. Y
  26. Z
Forum # Topics # Posts
Aalberts 466 7.124
AB InBev 2 5.541
Abionyx Pharma 2 29
Ablynx 43 13.356
ABN AMRO 1.582 52.229
ABO-Group 1 25
Acacia Pharma 9 24.692
Accell Group 151 4.132
Accentis 2 267
Accsys Technologies 23 10.895
ACCSYS TECHNOLOGIES PLC 218 11.686
Ackermans & van Haaren 1 192
Adecco 1 1
ADMA Biologics 1 34
Adomos 1 126
AdUX 2 457
Adyen 14 17.850
Aedifica 3 926
Aegon 3.258 323.088
AFC Ajax 538 7.092
Affimed NV 2 6.305
ageas 5.844 109.907
Agfa-Gevaert 14 2.065
Ahold 3.538 74.353
Air France - KLM 1.025 35.297
AIRBUS 1 12
Airspray 511 1.258
Akka Technologies 1 18
AkzoNobel 467 13.051
Alfen 16 25.325
Allfunds Group 4 1.519
Almunda Professionals (vh Novisource) 651 4.251
Alpha Pro Tech 1 17
Alphabet Inc. 1 425
Altice 106 51.198
Alumexx ((Voorheen Phelix (voorheen Inverko)) 8.486 114.826
AM 228 684
Amarin Corporation 1 133
Amerikaanse aandelen 3.837 244.011
AMG 972 134.489
AMS 3 73
Amsterdam Commodities 305 6.745
AMT Holding 199 7.047
Anavex Life Sciences Corp 2 496
Antonov 22.632 153.605
Aperam 92 15.063
Apollo Alternative Assets 1 17
Apple 5 386
Arcadis 252 8.807
Arcelor Mittal 2.035 321.007
Archos 1 1
Arcona Property Fund 1 287
arGEN-X 17 10.357
Aroundtown SA 1 221
Arrowhead Research 5 9.751
Ascencio 1 28
ASIT biotech 2 697
ASMI 4.108 39.635
ASML 1.766 110.430
ASR Nederland 21 4.513
ATAI Life Sciences 1 7
Atenor Group 1 522
Athlon Group 121 176
Atrium European Real Estate 2 199
Auplata 1 55
Avantium 32 14.072
Axsome Therapeutics 1 177
Azelis Group 1 67
Azerion 7 3.449

Macro & Bedrijfsagenda

  1. 02 april

    1. Hypotheekaanvragen - wekelijks (VS)
    2. Banenrapport ADP maart (VS)
    3. Fabrieksorders februari (VS)
    4. Olievoorraden - wekelijks (VS)
    5. Bekendmaking invoerheffingen VS
    6. Tesla - Productiecijfers eerste kwartaal (verwacht)

  2. 03 april

    1. Inkoopmanagersindex diensten maart def. (Jap)
    2. Inkoopmanagersindex diensten (Caixin) maart (Chi)
    3. Inkoopmanagersindex diensten maart def. (Dld)
    4. Inkoopmanagersindex diensten maart def. (eur)
de volitaliteit verwacht indicator betekend: Market moving event/hoge(re) volatiliteit verwacht
Naar de hele agenda