WINSTON-SALEM, N.C., Feb. 13 /PRNewswire-FirstCall/ -- Triad Guaranty Inc. (Nasdaq: TGIC - News) today reported a net loss for the quarter ended December 31, 2007 of $75.0 million compared with net income of $8.1 million for the same quarter in 2006. The diluted loss per share was $5.05 for the fourth quarter of 2007 compared to diluted earnings per share of $0.54 for the fourth quarter of 2006. Realized investment losses, net of taxes, had no impact on diluted per share amounts for the fourth quarter of 2007 or 2006.
It will go down tomorrow but there will be a point at which it hits a bottom, for now anyway, then provide an entry point for a bounce. Most of the bad news is out in the financials for now with most of the 4Q #$%$ out in the open. The financials should come off their lows and at least have a small rally. This may not be the end of the line but Christ, these stocks have been beaten down to well below book. Simple physics will force at least a small bounce. Not even the worse stocks go to zero in a straight line. In my opinion, TGIC is one of the better positioned MI’s. Just my humble opinion. Also with the hearings going on in Wash., hopefully this will keep the shorts at bay for awhile. Or it could just exacerbate the negativity depending on how it goes. Tomorrow should set the tone for the financials for the next several days.
Don't fool yourselves. Tomorrow there will be blood with these kind of numbers. I will be buying when my stomach starts to feel sick. My guess is around the high 3's, but the market will tell the story for me soon enough.
Ditto, worse than analysts expected but not as bad as it could be. I do like the report from the CEO. He doesn't mince words and doesn't hide the problem. I like that and it gives me some confidence that there is leadership at the helm.
It will be interesting tomorrow. I don't see this as too bad at all. But, I am not an analyst.