International Business News - FMD http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Six companies in the financial-services sector are being added to the Russell 1000 in this year's reconstitution of the large stock index, while 12 in the sector are being removed. http://www.ibtimes.com/articles/20080630/russell-1000-adds-6-financial-services-stocks.htm Mon, 30 Jun 2008 09:13:20 EDT Five companies in the financial-services sector are being added to the Russell 1000 in this year's reconstitution of the large stock index, while 12 in the sector are being removed. http://www.ibtimes.com/articles/20080630/russell-1000-adds-5-financial-services-stocks.htm Mon, 30 Jun 2008 08:15:48 EDT First Marblehead Corp. sold $59.8 million in convertible preferred shares to affiliates of a Goldman Sachs investment unit. GS Capital Partners converted the preferred shares into 5.3 million shares of common stock in the student-loan services provider. http://www.ibtimes.com/articles/20080626/first-marblehead-sells-59-8-million-in-shares.htm Thu, 26 Jun 2008 16:59:03 EDT First Marblehead Corp.'s stock leaped at the opening bell Thursday after a Friedman Billings Ramsey analyst who had been particularly bearish on the student loan service company upgraded the stock. http://www.ibtimes.com/articles/20080522/out-of-the-gate-first-marblehead-soars-on-upgrade.htm Thu, 22 May 2008 10:43:30 EDT First Marblehead Corp. shares fell sharply Friday after the student-loan services provider reported a quarterly loss, as the market for bundles of loans stayed frozen. http://www.ibtimes.com/articles/20080509/first-marblehead-shares-fall-after-quarterly-loss.htm Fri, 09 May 2008 16:56:15 EDT Student-loan services provider First Marblehead Corp. said Thursday it swung to a fiscal third-quarter loss as the company remained unable to complete a single securitization transaction _ previously its major source of revenue. http://www.ibtimes.com/articles/20080508/first-marblehead-swings-to-3q-loss-on-write-downs.htm Thu, 08 May 2008 18:17:42 EDT Shares of student lenders rose Friday, a day after Congress gave final approval to legislation that would lift limits on federally subsidized student loans. http://www.ibtimes.com/articles/20080502/sector-snap-student-lenders-rise-on-loan-limit-bill-passage.htm Fri, 02 May 2008 13:01:16 EDT With concerns rising that the pool of college loans available for next fall will be smaller and more expensive, the Bush administration is backing a measure aimed at bolstering student lenders' finances. http://www.ibtimes.com/articles/20080423/bush-administration-supports-student-loan-plan.htm Wed, 23 Apr 2008 12:36:13 EDT First Marblehead Corp.'s stock slipped Thursday after Bank of America Corp. one of the company's biggest customers said it plans to stop doing business with the company. Bank of America, the bank ... http://www.ibtimes.com/articles/20080417/last-call-first-marblehead.htm Thu, 17 Apr 2008 15:38:31 EDT News that Washington Mutual Inc. was poised to receive $5 billion in cash from a private equity firm lifted shares of the nation's biggest savings and loan on Monday, kicking off the trading week. ... http://www.ibtimes.com/articles/20080411/hot-stocks-of-the-week-wm-fmd-amr-mlnm.htm Fri, 11 Apr 2008 16:41:23 EDT First Marblehead Corp. will not be able to raise as much money from an investment by Goldman Sachs Group Inc. because of the turmoil in the bond market and the bankruptcy of a crucial partner, the st... http://www.ibtimes.com/articles/20080410/gs-investment-in-fmd-may-have-to-shrink.htm Thu, 10 Apr 2008 11:56:44 EDT Fitch Ratings said Wednesday it has placed 16 First Marblehead Corp. asset-backed securities' subordinate classes on "Rating Watch Negative" following The Education Resource Institute's bankruptcy ... http://www.ibtimes.com/articles/20080409/fitch-may-cut-first-marblehead-ratings.htm Wed, 09 Apr 2008 12:24:46 EDT Shares of for-profit education companies declined on Tuesday, after a nonprofit firm that provides financial guarantees for student-loan services provider First Marblehead Corp. filed for bankruptcy ... http://www.ibtimes.com/articles/20080408/sector-snap-education-stocks-decline.htm Tue, 08 Apr 2008 14:17:19 EDT Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market: NYSE Advanced Micro Devices Inc., down 20 cents at $6.14 The semiconductor company... http://www.ibtimes.com/articles/20080408/amd-glaxosmithkline-big-market-movers.htm Tue, 08 Apr 2008 13:25:17 EDT A nonprofit firm that provides financial guarantees for student-loan services provider First Marblehead Corp. filed for bankruptcy protection, sending First Marblehead's already-battered shares down... http://www.ibtimes.com/articles/20080408/student-loan-stir-hits-first-marblehead.htm Tue, 08 Apr 2008 12:23:26 EDT Shares of student loan services company First Marblehead are plunging after the company that backs the bonds First Marblehead helps to sell filed for bankruptcy. The Education Resources Institute, o... http://www.ibtimes.com/articles/20080408/out-of-the-gate-first-marblehead-falls.htm Tue, 08 Apr 2008 09:55:37 EDT Student-loan services provider First Marblehead Corp. said Tuesday it is working to find a new guarantor to back loans bundled in bonds it helps to sell after The Education Resources Institute filed ... http://www.ibtimes.com/articles/20080408/first-marblehead-to-seek-new-guarantor.htm Tue, 08 Apr 2008 08:38:11 EDT Among the stock activity stories for Thursday, March 27, from AP Financial News: NEW YORK (AP) _ Shares of BlackRock Inc. fell sharply Thursday after a Credit Suisse analyst cut his rating on the investment manager, arguing the stock prices in too lofty expectations. http://www.ibtimes.com/articles/20080327/movers-roundup-blackrock.htm Thu, 27 Mar 2008 17:56:01 EDT First Marblehead Corp.'s stock slipped Thursday after a ratings agency questioned the strength of an organization that serves as a bulwark against losses on bonds the company helps to sell. http://www.ibtimes.com/articles/20080327/first-marblehead-slips-on-teri-downgrade.htm Thu, 27 Mar 2008 13:00:40 EDT A Friedman Billings Ramsey analyst said Friday it may take longer for First Marblehead Corp.'s business to rebound than he expected. Based in Boston, First Marblehead helps banks like J.P. Morgan and Bank of America package student loans into bonds and sell them in the bond market. The company makes money mostly by charging fees for helping with the bond sales. http://www.ibtimes.com/articles/20080222/analyst-first-marblehead-under-pressure.htm Fri, 22 Feb 2008 14:38:27 EST