Last week, the U.S. Supreme Court agreed to review an investors’ suit against the U.S. Treasury Department related to the bailout and later conservatorships of Fannie Mae (FNMA) and Freddie Mac (FMCC) following the financial crisis of 2008. The case is scheduled for review during the court term beginning in October.
Mac App Store is the simplest way to find and download apps for your Mac. To download apps from the Mac App Store, you need a Mac with OS X 10.6.6 or later. To share a folder, right-click the folder’s icon, then choose “Share with.” Choose “Specific people,” then follow the onscreen instructions. You may need to disable the Internet Connection Firewall in the Advanced pane of the device’s properties. If you can’t disable the Internet Connection Firewall, make sure TCP port 445 is open. Apple Family Sharing: Remember, in-app purchases can’t be shared While upgrading a free app to paid and purchasing a paid app might seem like the same thing, Apple says you can’t share in-app. Mar 30, 2009 sudo chmod -R +a 'user allow list,add file,search,delete,addsubdirectory,deletechild,readattr,writeattr,readextattr, writeextattr,readsecurity,fileinherit,directoryinherit' /Users/Share #I know it's long, just copy and paste the command in Terminal.app at the command prompt# #substitute your wife's user name for 'user'#.
As we noted last week, the main issue is whether the investors are entitled to a share in the $300 billion or so that the two agencies’ conservator, the Federal Housing Finance Agency (FHFA), have forced Fannie and Freddie to turn over to the U.S. Treasury since 2013.
Among the other major issues facing Fannie and Freddie is the timetable for recapitalizing these two government-sponsored enterprises (GSEs). On the current timetable, a follow-on offering of shares in the two agencies would take place in July of next year. If the offering were to be compared to an IPO, it may be the largest ever, if the GSEs end up seeking an expected $200 billion in fresh cash.
Analysts at Nomura/Instinet have issued new research on the second-quarter earnings of Fannie and Freddie that are substantially higher than the firm’s prior estimates. Instinet raised its core earnings per share (EPS) estimate for Fannie Mae from $0.19 to $0.41 and its EPS estimate for Freddie Mac from $0.16 to $0.38.
The basis for the higher estimates is expected strong top-line results combined with lower credit costs. Instinet calculates the potential upside on Fannie Mae stock at just over 125% from a closing price Thursday of $2.22 and a price target of $5.00. The firm rates the shares a Buy.
Freddie Mac’s potential upside is 124%, based on a closing price Thursday of $2.23 and a price target of $5.00. Like Fannie, Freddie is rated as a Buy.
Share Credit Apps On Mac Computer
Instinet analyst Matthew Howlett notes that not included in the EPS estimates are realized/unrealized pretax gains of $155 million and $1.2 billion for Fannie and Freddie, respectively, compared to losses of $434 million and $835 million, respectively, in the first quarter.
Howlett made no changes to Instinet’s estimated timeline for a recapitalization of the GSEs. The firm expects a final capital rule by the fourth quarter of this year, along with an exit from the FHFA’s conservatorship of both agencies. An amended preferred stock purchase agreement (PSPA) continues to be expected in the fourth quarter of 2020 or the first quarter of 2021.
Interestingly, Instinet modeled a scenario in which Fannie and Freddie separately negotiate settlements and exchange offers rather than waiting for a PSPA from Treasury. The model calculated “no change to our valuation analysis if Fannie’s [or Freddie’s] junior preferreds are left outstanding and common stock dividends are delayed by one year.”
Howlett commented that in Instinet’s view, “the biggest obstacle to [recapitalization and release from conservatorship] isn’t political, it’s [economic].”
That may be true, but unless Congress agrees explicitly to backstop Fannie’s and Freddie’s guarantees, the economics of the GSEs’ recapitalization may take a back seat to the political concerns. While the two agencies have always enjoyed an implicit federal backstop, that may not be enough to raise as much cash as Fannie and Freddie would need under an FHFA capital rule.
Things for investors to watch for, according to Instinet, include near-term announcements related to relisting of the GSEs’ public securities, a search for legal counsel to coincide with settlement discussion among litigating shareholders, and a timeline for public comment on whatever FHFA proposes as the GSEs capital rule.
Instinet expects Fannie’s net revenue in 2020 to total $23 billion, rising to $24 billion in 2021. Cash and equivalents, which totaled $21 billion in 2019, are expected to increase to $82 billion this year and to $83 billion in 2021. Diluted shares outstanding are expected to rise from 5.76 billion this year to 18.02 billion in 2021, and GAAP EPS is forecast at $1.48 in 2020 and $1.28 in 2021.
Freddie Mac is forecast to post net revenue this year of $14 billion, rising to $15 billion next year. Cash and equivalents of $5 billion rise to $6 billion in 2021. Diluted shares outstanding total 3.23 billion this year and are expected to rise to 12.02 billion in 2021. GAAP EPS are forecast at $1.54 this year and $1.25 next year.
In a report published in late May, Howlett suggested that Fannie may once again become a dividend-paying stock by 2024.
What are in-app purchases?
Iphone Apps On Mac
In-app purchases are extra content or subscriptions that you buy inside an app. Not all apps offer in-app purchases. To check if an app offers in-app purchases before you buy or download it, find it in the App Store. Then look for 'In-App Purchases' near the app's price or Get button.
There are three types of in-app purchases—subscriptions, consumable purchases, and non-consumable purchases.
What is a subscription?
With a subscription, you pay to access content from an app or service for a period of time. For example, you might subscribe to Apple Music on a monthly basis. Subscriptions include services that you sign up for in an app, such as Hulu, Spotify, Pandora, or HBO NOW.
Most subscriptions renew automatically unless you cancel them. With some apps and services, you can choose how often the subscription renews. For example, you might be offered weekly, monthly, quarterly, or yearly subscriptions.
See a list of your subscriptions or cancel a subscription.
What is a non-consumable in-app purchase?
Here are examples of non-consumable in-app purchases:
- Remove ads
- Full game unlock
- Upgrade to pro edition
- Bonus game levels
You buy these items one time, and you can transfer them to other devices that are associated with your Apple ID. If you lose a non-consumable purchase, you might be able to download it again for free.
Restore your in-app purchase.
What is a consumable in-app purchase?
Here are examples of consumable in-app purchases:
- Game currency, such as coins or gems
- Extra health points in a game
- A package of exports to a new file format
You need to buy these items every time you want them, and you can't download them again for free. If you remove and reinstall an app or install an app on a new device, you might lose your consumable purchases. For example, if you install a game on your iPod touch that you started playing on your iPhone, the game levels sync, but extra health that you bought on your iPhone doesn't sync.
Best Free Mac Apps
About sharing in-app purchases
Mac Apps Download
Most in-app purchases can’t be shared with family members. Some subscriptions from Apple can be shared using Family Sharing. Learn which subscriptions you can share with family.
Learn more
- To prevent unintentional in-app purchases or prevent a child from making in-app purchases, set up Screen Time.
- If you tried to make an in-app purchase and you aren't sure the purchase was successful, check your purchase history. If you see it in your purchase history but you don't see it in the app, contact the app developer.
- For any other issues with in-app purchases, you can request a refund or report a problem.
For more information about subscriptions and in-app purchases, see the Apple Media Services Terms and Conditions.
Store availability and features might vary by country or region. Learn what's available in your country or region.