What is WMUTP?

Question

I was checking stocks today, because I have been keeping a close eye on Washington Mutual for various reasons and I stumbled upon a second Washington Mutual stock labeled WMUTP, that was created this month. However, I can't find any information in relation to what it actually is.

I have looked at both posters resources already but nothing really explains where this ticker came from. The original ticker of WM is still around and at 14.00 yet this one was created THIS MONTH starting at well over 1000. I want to know what exactly this is and if anyone knows what strategy washington mutual is using.

Answer 1

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Washington Mutual Inc Details:
Washington Mutual, Inc., together with its subsidiaries, operates as a consumer and small business banking company in the United States. It operates in four segments: Retail Banking, Card Services, Commercial, and Home Loans. The Retail Banking segment offers deposit and other retail banking products and services, which include checking and interest-bearing checking accounts, personal checking, savings, money market deposit, and time deposit accounts to consumers and small businesses; loan products comprising home loans, home equity loans, lines of credit, and mortgage loans; and investment advisory and brokerage services. The Card Services segment’s operations consist of issuing credit card...
December 25, 2007 5:19 AM ET
FINANCIALS SECTOR | THRIFTS & MORTGAGE FINANCE INDUSTRYWashington Mutual Inc
(WMUTP:OTC)
LAST $900.00 USD
CHANGE TODAY 0.00 0.00%
VOLUME 0.0
WMUTP On Other Exchanges
As of December 24, 2007 All times are local (Market data by Reuters is delayed by at least 15 minutes).
OPEN-- PREVIOUS CLOSE$900.00
DAY HIGH-- DAY LOW--
52 WEEK HIGH12/12/07 - $1,075 52 WEEK LOW12/21/07 - $882.45
MARKET CAP0.0 AVERAGE VOLUME 3 mo449.0K
DILUTED EPS TTM-- SHARES OUTSTANDING0.0
WMUTP Does Not Pay Dividends P/E TTM--
K = Thousands M = Millions B = Billions
related news
BofA Bites the Bullet
12/12/2007 5:29 PM ET
The largest U.S. bank sees greater credit losses and writedowns of bad debt, though it still expects to post a profit this quarter

Mortgage Mess Gets Messier
12/11/2007 5:32 PM ET
News from Washington Mutual, H&R Block and IndyMac show the troubles keep piling up

Stocks Slump after Fed Cuts Rates
12/11/2007 9:01 AM ET
Investors appeared to be disappointed after Bernanke & Co. cut both the Fed funds and discount rates by a quarter point

WaMu Slashes Home Loan Business
12/10/2007 5:53 PM ET
Among the steps taken by the savings and loan: cutting more than 3,100 jobs and discontinuing all subprime mortgage lending

View More Newsrelated news
SEC Reportedly Probing Washington Mutual
AP Digital - 12/21/2007 11:17 AM ET
Downtown rehab, crime, economy are priorities cited [The Record, Stockton, Calif.]
Knight Ridder/Tribune - 12/20/2007 11:59 AM ET
BRIEF: Donations sought for Fishin´ Hole owners [The Idaho Statesman, Boise]
Knight Ridder/Tribune - 12/20/2007 11:23 AM ET
Oakland man suspected in string of East Bay bank robberies [Contra Costa Times, Walnut Creek, Calif.]
Knight Ridder/Tribune - 12/20/2007 11:11 AM ET
View More Related NewsWMUTP Details

Detailed Description...
www.wamu.com49,824 EmployeesFounded in 1889Top Compensated Officers
Mr. James B. Corcoran
Executive Vice President, President of Retail...
Age: 51 Total Annual Compensation: $1.8M Mr. Kerry K. Killinger
Chairman, Chief Executive Officer, Chairman o...
Age: 56 Total Annual Compensation: $1.0M Mr. Stephen Rotella
President, Chief Operating Officer and Member...
Age: 53 Total Annual Compensation: $900.0K Mr. Thomas W. Casey
Chief Financial Officer, Executive Vice Presi...
Age: 43 Total Annual Compensation: $620.0K Executives, Board Directors

Compensation as of Fiscal Year 2006.Key developments
Washington Mutual Gets SEC Inquiry into Some Mortgage Loans
12/21/2007
Washington Mutual Inc. reportedly is getting a SEC inquiry into the company´s handling and reporting of mortgage loans that may have been based on inflated home appraisals. The SEC is also looking into whether the company properly accounted for its loans in financial disclosures to investors.

Pittsburgh Law Office of Alfred G. Yates Jr., PC Commences a Shareholder Class Action Suit Against Washington Mutual Inc. with an Expanded Class Period
12/20/2007
Notice is hereby given by the Law Office of Alfred G. Yates Jr., PC that it has filed a class action in the Southern District of New York on behalf of purchasers of Washington Mutual Inc. securities between April 18, 2006 and December 10, 2007, inclusive. The complaint charges WaMu and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company´s financial well-being, business relationships, and prospects. Specifically, defendants failed to disclose or indicate the following: (1) that the Company had failed to adequately disclose the extent of its exposure to anticipated losses and defaults in its lending portfolio; (2) that contrary to earlier representations, the Company had failed to adequately reserve for losses as conditions in the credit and housing markets deteriorated; (3) that the defendants had engaged in a conspiracy with First American and EA to artificially inflate the appraised value of homes for certain mortgages to artificially inflate the Company´s reported loan-to-value ratios; (4) that the Company´s lending portfolio and the mortgages that it issued were substantially riskier than they were represented to investors to be; (5) that as a result, the Company´s investment portfolio was impaired; (6) that, as a result of the above, the Company would be forced to take substantial charges in subsequent quarters to remedy such failures; (7) that the Company lacked adequate internal and financial controls; and (8) that, as a result of the foregoing, the Company´s financial statements were materially false and misleading at all relevant times.

Washington Mutual Inc. Announces Amendments to Articles of Associations
12/17/2007
Washington Mutual Inc. on December 17, 2007, the Company filed Articles of Amendment with the Secretary of State of the State of Washington for the purpose of amending its Articles of Incorporation to establish the preferences, limitations, voting powers and relative rights of the Series R Preferred Stock. The Articles of Amendment became effective with the Secretary of State of the State of Washington upon filing on December 17, 2007.

Stock Quotes
Recently Viewed
WMUTP $900.00 USD 0.00

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Competitors
Company Last Change
AFLAC Inc $62.52 USD 0.00
Capital One Financial Corp $48.21 USD 0.00
Countrywide Financial Corp $8.95 USD 0.00
Genworth Financial Inc $26.05 USD 0.00
KeyCorp $23.74 USD 0.00
View Industry Companies
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Industry Analysis
Valuation WMUTP Industry Range
Price/Earnings 5.3x
Price/Sales 0.9x
Price/Book 0.5x
Price/Cash Flow 4.3x
TEV/Sales NM Not Meaningful
WMUTP


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