Thornburg Mortgage (TMA Quote) led the financial sector's shaky recovery Wednesday after the lately battered lender calmed investors' nerves via a TV interview.
President and chief operating officer Larry Goldstone said on CNBC Tuesday night that Thornburg "will survive this disruption" and that it has "no intention" of filing for bankruptcy. He also said the company isn't for sale despite the company's recent precipitous share-price drop. Shares of the Santa Fe, N.M., firm rocketed 42.2%, or $3.21, to $10.82.
Luminent Mortgage (LUM Quote) seesawed back into the green by 18.6%, though the beleaguered mortgage investor was still trading at just 51 cents, and Impac Mortgage (IMH Quote) shot up more than 14% after suspending funding on Alt-A loans -- those with borrowers who don't have prime credit. The Irvine, Calif., firm also swung to a wider-than-expected loss, but shares traded up 17 cents at $1.37. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,452.00 | 1,107.93 | 2,201.05 | 36.03 |
Oil *
72.08
|
|
DOWN
49.05
|
DOWN
6.18
|
DOWN
11.05
|
UP
0.57
|
10 Yr
3.60%
SPDR Gold
110.21
|
|
-0.47%
|
-0.55%
|
-0.50%
|
+1.61%
|
Data delayed 20 minutes |
Connect with TheStreet