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warrants posts

Treasury to Sell Hartford, Lincoln National Warrants

Posted Sep 7th 2010 1:40PM by Brent Archer (RSS feed)
Filed under: Major Movement, Bad News, Options, Technical Analysis

Hartford Financial (HIG - option chain) stock is trading lower today after the US Treasury Department announced it will sell its warrant positions in HIG and Lincoln National (LNC) over the next several weeks. The Treasury initially received these warrants as part of the financial sector bailout program. This news is sending both stocks significantly lower as traders expect these sales will create bearish pressure on the stock. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on HIG.

This morning, HIG opened at $22.19. So far today the stock has hit a high of $22.22 and a low of $21.51. As of 12:30, HIG is trading at $21.94, down $0.51 (-2.3%). The chart for HIG looks bullish and S&P gives HIG a positive 4 STARS (out of 5) buy ranking.

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Capital One warrants help chip away TARP obligation

Posted Dec 6th 2009 3:40PM by Tom Johansmeyer (RSS feed)
Filed under: JPMorgan Chase (JPM), Recession, Financial Crisis

The Treasury Department made $146.5 million through the sale of Capital One Financial (COF) warrants. This was the first auction of warrants conducted by the government as part of the banking system bailout. The sale was conducted by Deutsche Bank (DB) and reached a sale price of $11.75 per warrant.

The warrants, which expire on November 14, 2018, give the holders the right to purchase a share of Capital One stock at $42.13. Almost 12.7 million warrants were given to the Treasury Department a little more than a year ago, when Capital One received $3.56 billion in bailout support.

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