Rochester, NY 8/18/2009 11:08:14 PM
Newcastle Investment Corp. NCT - Market Updates on Financial Stocks - GRRF, NCT, YSI, ANF
Newcastle Investment Corp. NCT
A Wireless company China GrenTech Corporation recently release its second quarter profits of 8% per share, as compared to a net loss in the same quarter last year. The company results through its record revenue increased by 127.1%, driving gross profit 70.4% higher. Shares surged over 44% last Friday morning.
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And shares of Newcastle Investment Corporation a Real Estate Investment Trust managed by private equity firm Fortress, continued its recent mysterious rise Friday morning, advancing nearly 27%. The company reported its quarterly earnings one week ago, and that day the stock closed down on the day, at 68 cents per share. By Thursday of this week shares were trading over a dollar on very heavy volume, and this morning were at $1.51, more than double the closing price from last Friday.
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