This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tuesday's Financial Winners & Losers

Updated from 2:37 p.m. EDT

Financial stocks tiptoed higher with the broad indices Tuesday after a long holiday weekend, and Triad Guaranty (TGIC) ranked among the winners.

Shares continued to climb 5% on Friday's reiteration that its $80 million credit-facility drawdown, announced last week, was "not in response to any liquidity issues." Triad stock had taken a tumble on word of the drawdown, even though the insurer included this same explanation in the pertinent regulatory filing.

Triad elaborated, late in the trading day Friday, that it had $26.7 million cash on hand as of June 30, as well as a "very liquid" $618 million portfolio of municipal and corporate bonds. Shares leapt to close Friday's session higher, and today rose another 83 cents to close at $17.56.

Thornburg Mortgage (TMA), meanwhile, added 3.7% to close at $12.21 after saying it raised $1.4 billion in a collateralized debt transaction, the possibility of which was first announced on Thursday. The Santa Fe, N.M., mortgage lender says proceeds will go to reducing borrowings under its adjustable-rate mortgage loan-warehouse financing lines by roughly $1.37 billion.

Friedman Billings vaulted Thornburg's rating to outperform from underperform, and Credit Suisse upgraded insurance company American Financial (AFG - Get Report) from neutral to outperform. The analyst cited American's overly discounted stock price vs. its peers as a basis for the rating change.

Shares of the Cincinnati insurer gained 4.2% to $29.38, lending support to the NYSE Financial Sector Index, which also benefited from Thornburg's recovery. The tracker ticked up about 104 points, or 1.2%, to 9115.60. The KBW Bank Index was up 0.8% to 106.84.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AFG $68.88 -0.79%
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs