Freddie Mac (NYSE:FRE) – Today’s First Hour Top Mover

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Freddie Mac (NYSE:FRE) – Today’s First Hour Top Mover

Mortgage-finance Company, reported net income of $768 million in the second quarter, its first profit in two years, and didn’t ask the U.S. Treasury for more aid. The stock has been trading in the 52 weeks range of $0.25-$7.43.T

The stock is currently trading at $1.27 moved up about 72% on over 144 million shares and 67,184 trades.

About Freddie Mac

Freddie Mac is engaged in purchasing residential mortgages and mortgage-related securities in the secondary mortgage market and securitizing them into mortgage-related securities that can be sold to investors. The Company purchases single-family and multifamily mortgage-related securities for its mortgage-related investments portfolio. It also purchases multifamily residential mortgages in the secondary mortgage market and hold those loans either for investment or sale. Freddie Mac finances purchases of its mortgage-related securities and mortgage loans, and manages its interest-rate and other market risks, primarily by issuing a variety of debt instruments and entering into derivative contracts in the capital markets. The Company operates in three segments: Investments, Single-family Guarantee and Multifamily.

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