Federal National Mortgage Association
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Financials : Thrifts & Mortgage Finance | Small Cap Value
Company profile

Federal National Mortgage Association is a government-sponsored enterprise chartered by Congress. The Company serves as a source of liquidity for purchases of homes and financing of multifamily rental housing, as well as for refinancing existing mortgages. It operates through two segments: Single-Family and Multifamily. Its Single-Family and Multifamily segments engage in business activities that provide liquidity to the mortgage market and manage the availability and affordability of housing in the United States. The Single-Family segment operates in the secondary mortgage market relating to loans secured by properties containing four or fewer residential dwelling units. The Multifamily segment operates in the secondary mortgage market relating primarily to loans secured by properties containing five or more residential units. The Company funds its business primarily through the issuance of short-term and long-term debt securities in the domestic and international capital markets.

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Raytheon Technologies stock jumps after profit and sales beat expectations

7:17 am ET July 28, 2020 (MarketWatch)

Shares of Raytheon Technologies Corp. (RTX) rallied 2.3% in premarket trading Tuesday, after the aerospace and defense company reported second-quarter profit and revenue that beat expectations, as a "good performance" in its defense business offset challenges in commercial aerospace. The company swung to a net loss of $3.84 billion, or $2.55 a share, from net income of $1.90 billion, or $2.20 a share, in the year-ago period. Excluding non-recurring items, such as one-time charges and acquisition accounting adjustments, adjusted earnings per share came to 40 cents, above the FactSet consensus of 13 cents. Sales rose 24% to $14.06 billion, above the FactSet consensus of $13.46 billion. Among Raytheon's business segments, Collins Aerospace sales fell 36% to $4.20 billion, above the FactSet consensus of $3.56 billion; Pratt & Whitney sales dropped 32% to $3.49 billion but beat expectations of $3.25 billion; Raytheon Missiles & Defense sales were $3.59 billion to miss expectations of $3.90 billion; and Raytheon Intelligence & Space sales were $3.31 billion to miss expectations of $3.54 billion. The stock has tumbled 30.8% year to date through Monday, while the Dow Jones Industrial Average has declined 6.9%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

July 28, 2020 07:17 ET (11:17 GMT)

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