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$NAVI 2Q15 PR: GAAP net income was $182MM or $0.47 diluted EPS vs. $307MM or $0.71 diluted EPS in 2Q14. Core earnings were $154MM or $0.40 diluted EPS vs. $241MM or $0.56 diluted EPS for 2Q14. The decrease is primarily due to $70MM decrease in net interest income & $43MM increase in provision for loan losses.
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.
$CSCO shift from hardware to becoming a software behemoth seems to be working for the company so far. Stock has seen a steady rise since the change. But is it sustainable?
Heard about the next generation iPhone. Going by the reports, it is believed that $AAPL will release three iphones this year.
Samsung chief Jay Y. Lee arrested under $36 million bribery charges. Stocks are also down. This is going to impact the sale of its Galaxy 8, set for April release. Here’s an opportunity for $AAPL to capitalize on a rival’s fall.