Received the following news item this morning on Google Alerts, as I was out and about I figured it was the cause of the reversal shortly after the opening, but now I realize it was not carried on Google News etc. It came from this link:
"And shares of agency-backed mortgage REIT American Capital Agency (NASDAQ:AGNC) rose this morning when Keefe, Bruyette & Woods upgraded them to Outperform. Analysts with the firm believe that book value has increased during the second quarter and their portfolio is experiencing lower prepayments than other companies in their sector.
On the news, shares of Agency Capital were trading higher by a little more than one and a half percent.
For MarketNewsVideo.com, I'm Angela Salvucci."
I have no idea how there analysts would know they have lower prepayments or that BVPS has increased in Q2. If anyone has the report, I'd appreciate some depth.
PS Of course happenstance could give them a piece of the next SPO too.