You need to add in the April $550MM raise at $11, so add 50MM shares to the float since April.
RDN performed somewhat the same as it would on a Dow +200 pt day. I expected much more in anticipation of earnings. Decided to wait and see. Even good earnings wouldn't stop the crooks from hitting Friday's 8.60 close just like when they took it down following MTG results before taking it back up.
Market won't like the numbers and futures are down, will be tough on RDN today.
Weighted avg shares for Q2 - 110.2MM
Radian Group Inc. (NYSE: RDN) today reported a net loss for the quarter ended June 30, 2010, of $475.1 million, or $4.31 per diluted share, which reflects a pre-tax loss from the change in fair value of derivatives of $524.6 million, or $3.09 per share on an after-tax basis. This compares to net income of $231.9 million, or $2.82 per diluted share, for the prior-year quarter. Book value per share at June 30, 2010, was $13.40. ====================================================
RDN just hit $9.00 again for the 3rd time today. Hoping it will get through it and higher. 3rd time's usually the charm. I was looking for maybe $9.30 to $9.60 today. Maybe closer to end of day. Who knows...