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American Capital Agency Corp. Message Board

  • investorindividual investorindividual Jul 30, 2013 12:24 AM Flag

    AGNC Swings to Profit in 2nd Quarter on Securities Gain.

    BY Dow Jones & Company, Inc.
    — 6:37 PM ET 07/29/2013
    American Capital Agency Corp. (AGNC) swung to a profit in the second quarter as the company posted a gain on securities.
    Shares rose 6% to $23.15 in after-hours trading as net income surpassed expectations. The stock has fallen 34% since the end of April.
    American Capital, a real estate investment trust that invests in agency pass- through securities and collateralized mortgage obligations, reported a gain on the sale of agency securities of $17 million versus a gain of $417 million a year ago. It also reported a gain on securities of $1.44 billion versus a loss of $1.03 billion a year ago.
    Overall for the quarter, the company reported a profit of $1.83 billion, or $ 4.61 a share, versus a year-ago loss of $261 million, or 88 cents a share.
    Net interest income was up 7.8% at $414 million.
    Analysts polled by Thomson Reuters had expected per-share earnings of 95 cents on net interest income of $357.3 million.
    The per-share comprehensive loss, which includes net unrealized losses on investments marked-to-market was $2.37 from a profit of $1.58 a share a year ago.

    Sentiment: Strong Buy

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AGNC
22.66+0.21(+0.94%)Oct 20 4:00 PMEDT

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