Doral Financial Corp. (NYSE:DRL)
CAPS Rating:
The Company manages its business through four operating segments - mortgage banking, banking, insurance agency and institutional securities.
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The Company manages its business through four operating segments - mortgage banking, banking, insurance agency and institutional securities.
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Doral Financial has somehow staved off bankruptcy so far, but that inevitability doesnt seem that far off. Doral reported massive losses in 2007 and should continue to do so for 2 years to come. Business activity is still slowly and they have massive debentures maturing soon that they will have zero chance to pay off. They have nearly 6 billion in debt and with the way they are burning cash I'd predict less than 16 months of viability left. Bankruptcy seems like their only solution. I cant see them outperforming the S&P over the next 2-4 months. Also that reverse split was a recipe to take out new lows.
Nero
Sagetrade