Hot Stocks: Walter Investment Management, Annaly Capital Management, NII Holdings, Inc.(NASDAQ:NIHD)
Walter Investment Management Corp(NYSE:WAC) shares declined 3.56% to $36.03. The company, on May 9, announced financial results for the quarter ended March 31, 2013. The Company reported GAAP net income for the first quarter of 2013 of $27.7 million, or $0.73 per diluted share, compared to net income of $5.1 million, or $0.17 per diluted share, in the first quarter of 2012.
Core earnings for the first quarter was $56.5 million after taxes, or $1.50 per diluted share, a 174% increase as compared to the same quarter of last year and 151% greater than in the fourth quarter of 2012. Core earnings were $20.6 million after taxes, or $0.71 per diluted share, for the first quarter of 2012, and $22.5 million after taxes, or $0.64 per diluted share, in the fourth quarter of 2012.
Annaly Capital Management, Inc. (NYSE:NLY) stock decreased 3.47% to $13.92. The company on May 23 announced that it has completed its acquisition of CreXus Investment Corp. (NYSE: CXS) (“CreXus”). Annaly’s commercial real estate business will be operated under the name Annaly Commercial Real Estate Group.
Annaly acquired CreXus pursuant to an Agreement and Plan of Merger dated January 30, 2013. In accordance with that agreement, CreXus was today merged with a newly formed CreXus subsidiary in a transaction in which Annaly became the sole stockholder of CreXus and the persons who owned CreXus common stock immediately before the merger became entitled to receive cash equal to $13.05206 for each share of CreXus common stock that they owned immediately prior to the merger.
NII Holdings, Inc.(NASDAQ:NIHD) shares decreased 3.20% to $7.87. The company on May 23 announced that its Board of Directors has approved changes pertaining to its corporate governance at meetings held in conjunction with its annual meeting of stockholders in Mexico City on May 22, 2013.
After careful consideration, the Board determined that it was in the best interests of the Company to separate the positions of chairman of the Board and chief executive officer and has elected director Kevin Beebe to serve as its independent, non-executive chairman effective May 22, 2013.