Bookmark and Share

Stock in News; Fannie Mae (FNMA)

Fannie Mae (OTC: FNMA) shares jumped on Wednesday after the mortgage giant released its first-quarter financial results. FNMA, which was bailed out by the U.S. government during the 2008 financial crisis, posted its first profit since the bailout.

The strong first-quarter results sparked a rally in FNMA shares, with the stock touching an intra-day high of $0.32. The stock finished the day 14.29% higher at $0.300 on above average volume.

Fannie Mae reported net income of $2.7 billion for the first quarter ended March 31, 2011. This compares with a net loss of $6.5 billion reported for the same period in the previous year. The mortgage giant also announced that it will pay a dividend of $2.8 billion to the Treasury Department.

Fannie Mae’s results for the first quarter suggest that the U.S. housing market is seeing some recovery.

Leave a Reply




You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

All stories in are for informational purposes only. This is NOT a stock recommendation. This story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at . About is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.