Web Search powered by YAHOO! SEARCH
share
email
font size
options
 
Thursday, September 11, 2008
Radian "cheap" at $3.50?

  "Radian is a very cheap stock -- at $3.50, one of the few," data-oriented investment manager Laszlo Birinyi of Birinyi  Associates told Bloomberg News this morning.
  Radian, the Center City-based bond- and mortgage- insurer, is also saying it expects to keep insuring Fannie and Freddie mortgages following the government takeover, debt-watcher CreditSights Inc. told clients in a note. That's good news, but CreditSights also noted it expects Radian credit ratings could still drop from current Ba1/BBB levels.
  Radian faces big losses from subprime home-loan foreclosures. The company got permission from regulators in New York and Pennsylvania to "commingle" capital from its bond and mortgage businesses, CreditSights analysts Rob Haines and Craig Guttenplan wrote last month. It may not be a great idea, but it's legal, and it's working,  for now, they said in a report last week.
 

Posted by Joseph N. DiStefano @ 11:24 AM  Permalink | Post a comment
Comments   
0 comments
About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column, which is printed in the business pages of The Philadelphia Inquirer every Sunday, Tuesday, Wednesday, Thursday and Friday. Joe has worked at the Inquirer, mostly, since 1988. He has also written for Bloomberg and Gannett, authored the book Comcasted, majored in economics at Penn, and fathered six children. Reach Joe at 215-854-5194 and JoeD@phillynews.com

Advertise Here