Sat, Apr 19, 2014, 4:54 PM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Novation Companies, Inc. Message Board

  • phillipjmonkey phillipjmonkey Dec 23, 2004 10:46 PM Flag

    managing earnings

    SAN DIEGO (CBS.MW) -- Last time I looked it wasn't a good thing for companies to "manage" earnings. It's one of the issues Fannie Mae just got nailed for.


    Yet managing earnings is a way of life at Novastar -- no stranger to this column.

    Don't take it from me -- take it from Cole Bitting. He's an analyst at Flagstone Securities and perhaps the most head-over-heels fan of the Kansas City-based subprime mortgage lender; his firm is also one of Novastar's investment bankers.

    In an August 2 note to clients, Bitting came right out and explained what Novastar (NFI: news, chart, profile) would do if it "feels compelled to manage" earnings after last quarter's results, which he says were "padded" with gains related to hedging activities.

    Manage? Padded? Bitting said it, I didn't. In this case, the company's second quarter benefited from an unusually large hedging gain.

 
NOVC
0.30+0.04(+15.38%)Apr 17 3:55 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
AsiaInfo-Linkage, Inc.
NasdaqGSWed, Jan 15, 2014 4:00 PM EST