John F. Eckstein III, who is one of the first traders of Treasury bill futures contracts after their launch in 1976 and the first of cash-futures arbitrage trading in the U.S. government bond market, has passed away. Eckstein died at 74. His son, John F. Eckstein IV, said in a telephone interview that his father never fully recovered from a heart attack he suffered in 2005 and died on July 24 at a nursing home in New Rochelle, New York.
CIT Group Inc. (NYSE:CIT)
CIT Group Inc., reported a net loss for the quarter ended June 30, 2012 of $71 million, $0.35 per diluted share. Net loss for the six months ended June 30, 2012 was $517 million, $2.57 per diluted share, and included debt refinancing charges of $906 million.
Quarterly revenue was $229.9 million, compared with $206.8 million last year, while analysts projected a $274.28 million for the second quarter.
CIT Group Inc. (NYSE:CIT) jumped +1.73% and closed at $34.79. The overall volume in last trading session was 2.09 million shares, more than the average volume of 1.23 million. It has market capitalization of 6.99 billion.
Invesco Mortgage Capital Inc (NYSE:IVR)
Invesco Mortgage Capital Inc. is a real estate investment trust (REIT). The Company is primarily focused on investing in, financing and managing residential and commercial mortgage-backed securities and mortgage loans. Invesco Mortgage Capital Inc (NYSE:IVR) gained +0.92% and closed at $19.78 with the total traded volume of 1.21 million shares.
Its market capitalization is 2.28 billion and its beta value stands at 0.80 times making it less volatile. IVR has earnings per share of $3.15 and its price to earnings ratio ended at 6.29.
KKR Financial Holdings LLC (NYSE:KFN)
KKR Financial Holdings LLC (NYSE:KFN) moved up +1.44% with the closing price of $9.16. The overall volume in the last trading session was 1.14 million shares. Its fifty two week range was $6.68-$9.70. The total market capitalization remained $1.63 billion.
KFN is ahead of its 52 week low with 45.59% and its last month price volatility remained 1.93%. Its beta coefficient was 2.17 with a target price of $12.13. KFN has insider ownership of 0.31% with its institutional ownership remaining at 57.60%. Company’s current year earnings per share grew 15.85% while the five year EPS growth rate was +2.65%.