4 Financial Stock Stories To Be Followed Today

MBIA (NYSE:MBI): Current price $9.94

MBIA, the bond insurer that has brought a lawsuit against Bank of America Corporation to recover losses connected with mortgage loans, won an appeals decision ruling that the lender can be forced to buy securitized loans back even if they are not in default. A New York state appeals panel ruled in a decision Tuesday that MBIA is entitled to have BofA repurchase a performing loan that it can prove “materially and adversely” affected its interest, a decision that reverses part of a ruling by a lower court. For good measure, panel also reversed a decision that MBIA could seek so-called rescissory damages.

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MBI

Goldman Sachs Group (NYSE:GS): Current price $143.69

Goldman Sachs is introducing a specialty finance firm to invest in high-risk debt primarily of mid-sized domestic companies with no credit ratings, according to The Wall Street Journal.

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GS

Credit Suisse Group (NYSE:CS): Current price $26.47

The Swiss superbank has requested that the New York State Supreme Court in Manhattan throw out a lawsuit brought by New York Attorney General Eric Schneiderman that accuses it of deceiving investors in mortgage-backed securities in 2006 and 2007 that led to in $11.2 billion of losses. On Monday, Credit Suisse said that the attorney general waited too long, was precluded by federal law, and was insufficiently specific in detailing the alleged wrongdoing to allow the case to go forward. The banks’ attorneys wrote that “it is striking how threadbare the allegations are even with all of the extra time the NYAG took to file it.” However, the atterney general’s office professes to be confident that it will prevail.

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CS

Ares Capital Corporation (NASDAQ:ARCC) Current price $17.47

Ares intends to make a public offering of 16.65 million shares of its common stock, and will also allow the underwriters an option to buy up to an additional 2,497,500 shares. The offering will be made under Ares Capital’s shelf registration statement, which was filed with, and declared effective by, the U.S. Securities and Exchange Commission. Proceeds will be used to repay debt and for general corporate purposes.

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ARCC

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