3SOF

I will buy this at the open.
Average Volume (3 month)379,137
Fridays's Volume 4,859,053
Volume % Change +1,089.24%

http://finance.yahoo.com/q?s=ficc
*******************************************************************************
COLUMBIA, Md., July 6, 2005 /PRNewswire-FirstCall via COMTEX/ -- Fieldstone Investment Corporation , a residential mortgage banking company, today announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share for the quarter ended June 30, 2005. The dividend will be paid on July 29, 2005 to stockholders of record at the close of business on July 20, 2005.

About Fieldstone

Fieldstone Investment Corporation, headquartered in Columbia, Maryland, is a residential mortgage banking company that has a portfolio of non-conforming mortgage loans it originated and that originates, securitizes, sells and services single-family residential mortgage loans, directly or through its mortgage origination subsidiary. Fieldstone has elected to be taxed as a real estate investment trust (REIT) for federal income tax purposes. Fieldstone's mortgage origination subsidiary, Fieldstone Mortgage Company, originates non- conforming and conforming mortgage loans through its wholesale and retail business divisions. Fieldstone maintains a wholesale network of over 4,700 independent mortgage brokers serviced by 15 regional operations centers and a network of retail branch offices located throughout the country.


For more information, please visit http://www.fieldstoneinvestment.com.  

SOURCE Fieldstone Investment Corporation


Fieldstone Investment Corporation, Investor Relations, +1-410-772-5160, or Toll-Free  
+1-866-438-1088, [email protected]  

http://www.prnewswire.com  

Copyright (C) 2005 PR Newswire. All rights reserved.

Well $12 is a solid bottom and $18 area (IPO area) is the target, looks like a good play shaping up, great volume Friday obviously a result of the dividend news sinking in.
Added to my watch thanks.
Mike

A so so day.Seems like some resistance @ $15 area.
Keep a close watch,volume dropped off.

Well Well , after an extended down trend.
Look at the pop today !!.....
Monster Volume......


On The Move.......
Fieldstone Investment (nasdaq: FICC - news - people ) is leading the pack during the morning trading session. The stock is up nearly 100% on the news the group has agreed to be bought by Credit-Based Asset Servicing and Securitization. The purchase price tops more than $260 million. That comes to about $5.53 cents a share--$3 more than Fieldstone's closing price yesterday.


52wk Range: 2.40 - 12.64
Volume: 16,973,276
Avg Vol (3m): 771,755

Technicals
Most Actives
Gap Up
Percentage Gainer

Last Price Quote is:
65.01%above 13-day MA
21.42%above 50-day MA
RS Rating: 8 

Fundamentals
Key Data:
Market Cap (M): $433.87 
P/E Ratio: 8.64 
PEG Ratio: N/A 
Next Earnings: 04/13/2007
Last Analyst Rating: Hold

Below are the 6 Month and 2 Year Charts.......

Reuters
MGIC, Radian affiliate to buy Fieldstone
Friday February 16, 2:21 pm ET


NEW YORK (Reuters) - Credit-Based Asset Servicing and Securitization LLC, an affiliate of MGIC Investment Corp. (NYSE:MTG - News) and Radian Group Inc. (NYSE:RDN - News), said on Friday that it planned to buy subprime mortgage lender Fieldstone Investment Corp. (NasdaqGS:FICC - News) for $5.53 per share.


The offer by C-Bass -- totaling $259 million, according to Reuters data -- was more than twice Fieldstone's closing stock price of $2.60 per share on Thursday. The shares were up $2.44, or 93.9 percent, at $5.04 in afternoon Nasdaq trade.

Fieldstone, the 23rd-largest lender to home buyers with the poorest credit, is the latest of about two dozen mortgage companies to shutter operations or be sold in fallout of the decade-long housing boom. Companies have been shattered by a rapid rise in delinquencies resulting from loose underwriting standards and stagnation in home prices, analysts said.

The acquisition would give New York-based C-Bass a loan origination platform for the first time, following models of Wall Street investment banks such as Bear Stearns Cos. (NYSE:BSC - News) and Morgan Stanley (NYSE:MS - News), which purchased lenders to obtain loans more cheaply for collateral in bonds they sell.

"We believe that Fieldstone's origination business will be stronger as a result of our affiliation," C-Bass Chief Operating Officer John Draghi said in a statement. C-Bass would acquire a portion of Fieldstone's loans for its portfolio on an ongoing basis, he said.

In the first nine months of 2006, Fieldstone lost $28.3 million, compared with a year-earlier profit of $88.6 million. Like must subprime lenders, the company suffered last year from declining prices on loans it sold to bond issuers -- largely second-lien -- and increases to loan-loss reserves, amid a sharp rise in delinquencies.

C-Bass is seen as among the safest issuers of bonds in the $575 billion home-equity asset-backed debt market, with its securities showing the second-best performance in the industry next to a Wells Fargo & Co. (NYSE:WFC - News) platform, according to Credit Suisse research.

Fieldstone's acquisition price is subject to a 20 cent per share reduction should the Columbia, Maryland-based company not settle litigation before the merger, C-Bass said in a statement.

Fieldstone spokesman Mark Krebs declined to comment on how the companies would consolidate employees.

I was watching this one today as well. I am curious if anyone could explain why it jumped up to 5.16 then slowly worked toward a close at the low of the day? I realize that the buyout of 5.53 or 5.33 is a few months away, but why wouldn't this hover toward the buyout price?

setravis do you have an insight regarding my previous question?

Quote from: lucror on February 16, 2007, 07:11:27 PM
I was watching this one today as well. I am curious if anyone could explain why it jumped up to 5.16 then slowly worked toward a close at the low of the day? I realize that the buyout of 5.53 or 5.33 is a few months away, but why wouldn't this hover toward the buyout price?

Hi Lucror,   just saw this one.

Yes one hell of a deal for those who are recent longs, very bad for any one who was short FICC, hope nobody here was in that boat.

It is a cash deal so the $5.33 is in play with the bonus of 5.53 a good possibility, but that is 3-4 or more months away.  And there is always the risk that the deal could fall apart, at which point the SP would tank instantly.

So if you're long, the money is basically dead for many months with a good possibility of a 5-10% rise from here, but also a small risk of loosing all that profit.  I would suggest the SP will be pretty well flat with a very slow advance to $5.33 as time goes on closer to closing.

Even when you have a guaranteed absolute nothing can go wrong cash buyout, it will still trade below that value, basically at a slight discount to what a money market fund (no risk) would pay over that time.  And thus as time deteriorates the SP will approach the buyout price.

So I think most traders, myself included would just take the $5 plus offered today, move to cash (zero risk) and look for opportunities which would net more than the 5-10% over the next several months.

JMHO on the subject

Quasi