Freddie (FRE) & Fannie (FNM) 01 (May 08 - Feb 12)

[iam802]

Lots of people place their bets that Fannie is sound because they are 'backed by govt.', right?

If they delist, do the shareholders get anything?

[blid2def]

Actually I don't understand. There are stocks that are forever under US$1, listed on the AMEX, which is now part of NYSE Euronext. Why aren't those affected then?

Also, looks like they can appeal and get a 6-mth window to move about $1 and keep their listing. So, maybe they can pray and hope.

[kennynah]

closed on Tues at 47cents..

premarket trading at 61 cents...up ~~30%

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Fannie Mae Advances In Pre-Market On New CFO
11/26/2008 8:23 AM ET

(RTTNews) - Fannie Mae (FNM: News ) rose in pre-market trading, after naming a new CFO.

The stock was up 15 cents just after 8:20 am ET, climbing to 62 cents. If pre-market gains hold, the stock will open at its highest level in two weeks.

Fannie Mae announced that it has appointed David Johnson as executive vice president and chief financial officer, effective today.

Johnson comes to Fannie Mae from Hartford Financial Services Group, the diversified insurance/financial service company based in Hartford, Connecticut, where he was EVP and chief financial officer. Before that, Johnson served as chief financial officer at Cendant Corp.

The company also announced that David Hisey would continue to serve the company as executive vice president and deputy chief financial officer, with responsibilities including financial planning and analysis, business unit finance, accounting, financial controls and the financial reporting and income tax functions. Hisey joined Fannie Mae in January 2005 as senior vice president and controller.

[kennynah]

what the happening???

FNM up >33% now at 95cents

[blid2def]

I think I read yesterday or the day before that FNM is considering doing a reverse stock split, to push the price back up to $1.

[kennynah]

what's the meaning of reverse stock split? means reducing the number of outstanding shares float?

[blid2def]

Here, read this:

http://www.bloomberg.com/apps/news?pid= ... jn62X8zaQE

[blid2def]

what's the meaning of reverse stock split? means reducing the number of outstanding shares float?

Yup, consolidate shares.

[kennynah]

many arigators...

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Fannie Mae Advises NYSE of Intent to Meet Continued Listing Standard

PR Newswire

WASHINGTON, Nov. 26

WASHINGTON, Nov. 26 /PRNewswire-FirstCall/ -- Fannie Mae (NYSE: FNM) today
reported in a filing with the U.S. Securities and Exchange Commission
(SEC) that the company has notified the New York Stock Exchange (NYSE)
that it intends to bring the share price of its common stock and the
average share price of its common stock for 30 consecutive trading days
above $1.00 by no later than May 11, 2009.

[kennynah]

Mortgage Sector Experiences Buying Interest Friday Morning
11/28/2008 11:08 AM ET

(RTTNews) - Mortgage stocks have moved to the upside Friday morning. The sector-wide positive sentiment comes after Fannie Mae (FNM: News ) announced plans to undertake a reverse stock split to meet listing requirements with the New York Stock Exchange.

Shares of Fannie Mae have jumped about 35%, while Freddie Mac (FRE: News ) stock has soared nearly 28%. Shares of United PanAm Financial Corp. (UPFC: News ) and Security National Financial Corp. (SNFCA: News ) have also surged over 20% each.

By 10:50 am Eastern Time, shares of Freddie Mac were up 22 cents at $1.01, while Fannie Mae shares were up 26 cents at 97 cents. United PanAm Financial stock was up 22 cents at $1.25 and Security National Financial shares were up 30 cents at $1.61.

Other stocks within the sector posting notable gains include MFA Mortgage Investments Inc. (MFA: News ), America First Tax Exempt Investors L.P. (ATAX: News ), Dynex Capital Inc. (DX: News ) and Anworth Mortgage Asset Corp. (ANH: News ).