Government Properties Trust (GPT) surged on news the Omaha, Neb.-based REIT is being bought by Record Realty Trust for $10.75 a share in cash.The purchase price represents a 17.2% premium over Government Properties' Monday close. Shares were climbing $1.32, or 14.3%, to $10.49.
tumbled after it reported a 36% gain in fourth-quarter profit but failed to meet Wall Street expectations.
In the quarter, the brokerage earned $128 million, or 21 cents a share, compared to $94 million, or 23 cents a share, in the year-ago period. Revenue rose 78% to $488.7 million. The Thomson Financial consensus estimate had the firm earning 22 cents a share on revenue of $505 million. Shares were down 92 cents, or 5.5%, to $15.70.
fell after the Baltimore-based asset manager reported disappointing second-quarter results that did not match Wall Street's alreadly diminished expectations. The company said earnings rose 19% to $143.7 million, or $1 a share, from $121 million, or 99 cents a share, a year ago. Earlier this month, Legg Mason warned analysts to reduce their estimates. But even with that warning, Legg Mason still fell short of the Thomson Financial consensus of $1.02 a share. Shares were trading down 25 cents to $86.39.
( CFC) gained even though the mortgage banker missed third-quarter earnings and revenue expectations. The California-based lender earned $647 million, or $1.03 a share, up from $633.8 million, or $1.03 a share.
Revenue totaled $2.8 billion, up 4% from a year ago. Wall Street was looking for $1.08 a share on revenue of $2.95 billion. But the stock rose on news that Countrywide would buy back up to $2.5 billion in outstanding shares and plans to eliminate 2,500 jobs in the fourth quarter. Shares were gaining $1.02, or 2.9%, to $36.23.
gained after the Charlotte, N.C.-based financial services company reported a rise in third-quarter earnings. The company posted earnings of $12.8 million, or 41 cents a share, compared with $12.1 million, or 39 cents a share, a year ago. Net interest income increased to $33.5 million, up 5.8% from a year ago. Shares were trading up 39 cents, or 1.6%, to $24.63.