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MBIA Inc. Message Board

  • mtpcservice mtpcservice May 25, 2013 1:58 PM Flag

    Ally ResCap hearing date 6-26-13

    I read an article from Dow Jones Newswire saying that: " U.S. Bankruptcy Judge Martin Glenn is set to consider the agreement at the June 26 hearing. Parties to the settlement can terminate the agreement if ResCap's plan support agreement isn't approved by July 3. This is headline "3rd UPDATE: Ally Financial to Pay $2.1 Billion in Settlement With ResCap, Creditors" So according to the article it appears that the deal already was made on Thursday but is subject to the judges approval at the June 26 hearing. It says the deal will be sealed so that no one can obtain any info all the way till July 3rd at the latest. So it seems possible that not a lot will happen as far as MBI stock getting a pop until the 26 of June unless some other good news hits.

    Sentiment: Strong Buy

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    • Not true. Totally wrong. Just the opposite. if all parties agreed yes who is the judge to argue with a deal, and he will not. This deal is done. What you have not seen is a move in the stock based upon earnings and an extremely undervalued company. The stock does trade on its own merits. I am certain their is a deal in the making that will drive this stock higher. It will have nothing to do with the settling of a lawsuit. It will have to do with earnings. MBI has recieved alot of cash and BOFA $500 million investment in their insurance fuind as well as that hefty $500 million line of credit just to name a few things.

      I look for MBI to start a serious up trend based upon value. The stock is slightly off a muili year high, the volume is solid, they have plenty of cash and they are under value with corporate earning between $3.32 a share and $4.00 a share this year. Just on earnings alone this is a $60.00 stock.

      Here is what iI predict. I was right about a announcement on Friday. There is one more announcement coming on Tuesday. This will be positive for the stock. The call options are pushing $17 and as high as $22 There is a million dollar bet that MBI pushes $17 by the time the June calls roll around. No one makes that bet unless they know. I also believe Bershire takes an interest in MBI. MBI move back to $15.60 by tuesday or Wednesday next week. By Friday the stock will be in string distance of $17. If the stock hits $17 we go right to $22

      Now if you need an example take a look at RAD. There stock went from $1.96 to $2.50 based on $.20 earnings. Then the stock went from $2.50 to $3.0 based upon not a single bit of news or any earnings consideration. There is no comparison to MBI an RAD, however both companies experienced a intial move of 45 to 55% and RAd moved another 25%. If MBI does the same thing we are looking at $185.50 a share

      • 3 Replies to idpatton01
      • idpatton01, I hope what you say will happen. Just for the heck of it read the article. Why does is say June 26 hearing for this deal and why July 3rd? The article can be read at Smartmoney scroll down under "Breaking News" and read the second article, " 5:47 PM - 5/23/2013 - 3rd UPDATE: Ally Financial to Pay $2.1 Billion in Settlement With ResCap, Creditors" Post your thoughts after reading it and tell me there is no hearing on the 26th. I believe the deal is 98% a done deal but it's not 100% and we won't know till the judge approves it. It says in the article: "U.S. Bankruptcy Judge Martin Glenn is set to consider the agreement at a June 26 hearing. Parties to the settlement can terminate the agreement if ResCap's plan support agreement isn't approved by July 3". You see it says it can be terminated. I always say the deal is not done till the money is in my hands. Talk is cheap until the money is delivered. Also I did not say RAD or Riteaid. I said RDN ( Radian ) They do mortgage insurance and have made big moves the last 6 months. I appreciate your thoughts and comments. I hope you are correct and Tuesday the stock moves up but if the market is in correction mode I think it will go in tandem with the market unless there is some news released that will move the stock

        Sentiment: Strong Buy

      • Thats $18.50 a share

      • I was also right about block trades. Even though the CEO sold some shares it means nothing. he did not sell on the high nor did he sell on the low. He just sold it because he felt he was entitled to the money In my opinion he was entitled to the money. If he takes MBI to $70 a share he can do that every time the stock rises $5 a share. I have no issues their nor do I think any one else does

 
MBI
11.97-0.17(-1.40%)Apr 17 4:00 PMEDT

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