Thursday's Financial Winners Losers
Friedman Billings Ramsey (FBR) jumped nearly 13% after the Virginia-based broker swung to a respectable fourth-quarter profit of $3.8 million, or 2 cents a share, from last year's loss of $271.6 million, or $1.60 a share. Full-year losses narrowed to $67.3 million, or 39 cents a share, from $1.01 a share in 2005. Shares were gaining 89 cents to $7.80.
LandAmerica Financial (LFG) rose after it powered past fourth-quarter Street estimates. Income ebbed year over year to $34.3 million, or $1.95 a share, on $1.09 billion in revenue, but analysts surveyed by Thomson Financial had the insurer earning $1.76 a share on $1.03 billion in revenue. The Richmond, Va., company also announced it will repurchase up to another 1.5 million of its shares through October 2008. Its existing 1.25-million-share program expires in July. Shares were adding $3.79, or 5.9%, to $68.54.
Germany's Allianz (AZ) reported a 49% rise in preliminary fourth-quarter income to roughly $1.8 billion (1.37 billion euros), or $4.21 a share. Revenue edged down 1.5% from last year to $32.57 billion. The insurance giant may also boost its per-share dividend by $2.36, to $4.99. Shares were up 83 cents, or 4%, to $21.51.
Heritage Financial (HBOS) got a lift after the Georgia-based regional bank said it will buy back up to 300,000 of its shares. Heritage stock was rising 43 cents, or 2.7%, to $16.51.
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