Jersey City, NJ – January 25, 2008
The LocateStock.com HIGH FIVE for Friday, January 25th are:
5 – Countrywide Financial – NYSE:CFC
4 – MGIC Investment – NYSE:MTG
3 – Arthrocare – NASDAQ:ARTC
2 – MBIA – NYSE:MBI
1 –Ambac – NYSE:ABK
Countrywide Financial Corporation, (NYSE:CFC) a holding company, engages in mortgage lending and other finance-related operations. The company operates in five segments: Mortgage Banking, Banking, Capital Markets, Insurance, and Global Operations.
* It was announced Thursday that Countrywide's earnings call for the fourth-quarter of 2007 is scheduled for Tuesday, January 29th at 12:00 pm Eastern. Shares of CFC closed up 12 cents or 2% to $6.11 on Thursday.
MGIC Investment Corporation, (NYSE:MTG) through its subsidiary, provides private mortgage insurance to the home mortgage lending industry in the United States. The private mortgage insurance covers residential first mortgage loans and expands home ownership opportunities by enabling people to purchase homes.
* MGIC and its primary subsidiary Mortgage Guaranty Insurance Corporation announced Thursday that the Boards of Directors have approved the promotions of three executives. The company's Board also declared a quarterly cash dividend of $0.025 per share on the same day. The dividend is payable March 3, 2008, to shareholders of record on February 8, 2008. The company is scheduled to have its earnings call on Wednesday, February 13th at 10:00 am Eastern. Shares of MTG were up 64 cents or 3.98% Thursday after falling 20% a day earlier and then recovering to finish the day flat.
ArthroCare Corporation (NASDAQ:ARTC) engages in the design, development, manufacture, and marketing of medical devices for use in soft-tissue surgery primarily in the United States and internationally. Its products are based on the patented soft-tissue surgical controlled ablation technology.
* Shares of Arthrocare plunged $6.45 or 13.87% to $40.05 on no news Thursday after losing 5% one day earlier.
MBIA, Inc., (NYSE:MBI) through its subsidiaries, provides financial guarantee insurance and credit protection products, as well as investment management services to public finance and structured finance issuers and investors, and capital market participants worldwide. It operates through two segments, Insurance and Investment Management Services.
* New York's insurance regulator said on Thursday that any plan to shore up the insurers that guarantee $2.5 trillion of bonds will take "some time" because of the complexity of the issues and the number of parties involved. Shares of one of the largest bond insurers, MBIA dropped, erasing some of their big gains from Wednesday as hopes for a quick fix dwindled. Shares of MBI were trading up 79% prior to Thursday when shares fell $2.21 or 13.31% to $14.40. MBI was down 61% the week before.
Ambac Financial Group, Inc., (NYSE:ABK) through its subsidiaries, provides financial guarantee products and other financial services to clients in the public and private sectors worldwide. It operates in two segments: Financial Guarantee and Financial Services.
* New York's insurance regulator said on Thursday that any plan to shore up the insurers that guarantee $2.5 trillion of bonds will take "some time" because of the complexity of the issues and the number of parties involved. Shares of one of the largest bond insurers, Ambac dropped, erasing some of their big gains from Wednesday as hopes for a quick fix dwindled. Shares of ABK were up 100% prior to Thursday's loss of $2.37 or 17.30% to $11.33. ABK was down 72% last week.
The daily HIGH FIVE stocks are determined by the company's proprietary, internal algorithmic calculators. The result is five securities that are the most sought after to borrow, and have proven to be the hottest stocks to short that day.
LocateStock.com is the premier electronic securities lending company providing revolutionary, real-time, hard-to-borrow stock locates and market data to hedge funds and professional traders seeking an efficient and private way to borrow stock associated with short sales. The Company recently launched LocateStock TV, a daily financial news show that highlights stock inventory that is available for short sellers to legally borrow and stay in compliance with Regulation SHO.
For an in-depth market analysis on each individual, hard to borrow stock, tune in daily to LocateStock TV, on http://www.locatestock.com/pressrelease.html
CONTACT: pressrelease@locatestock.com / 201-332-6800
SOURCE: Locate Stock, Inc.
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