{"id":17471,"date":"2011-01-03T12:03:02","date_gmt":"2011-01-03T17:03:02","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=17471"},"modified":"2011-01-03T12:03:02","modified_gmt":"2011-01-03T17:03:02","slug":"sector-update-financial","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/03\/sector-update-financial\/","title":{"rendered":"Sector Update: Financial"},"content":{"rendered":"<p>Shares of financial companies are higher with Bank of America (BAC)  saying this morning that it will take a $2 billion charge against Q4  earnings to settle buyback claims on home loans sold to Fannie Mae and  Freddie Mac. The bank also expects to take a $3 billion provision for  repurchase obligations. Dollar Financial Corp. (DLLR) late Friday  agreeing to buy Purpose U.K. Holdings Ltd. for about $195 million. The  check-cashing chain said the deal &#8220;immediately&#8221; adds to earnings and  that it plans to soon revise its 2011 forecast to include the acquired  business. Torchmark Corp. (TMK) has completed its sale of United  Investors Life Insurance unit to Protective Life Insurance (PL) for $343  million plus $305 million in United Investors assets that were  distributed to another Torchmark subisidiary. The sale is expected to  add between $250 million to $320 million in free cash flow during 2011,  Torchmark said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of financial companies are higher with Bank of America (BAC) saying this morning that it will take a $2 billion charge against Q4 earnings to settle buyback claims on home loans sold to Fannie Mae and Freddie Mac. The bank also expects to take a $3 billion provision for repurchase obligations. Dollar Financial Corp. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/01\/03\/sector-update-financial\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Sector Update: Financial&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-17471","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=17471"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17471\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=17471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=17471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=17471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}