PennyMac Mortgage Investment Trust (NYSE: PMT) announced that its Board of Trustees has authorized a share repurchase program under which the Company may repurchase up to $150 million of its outstanding common shares of beneficial interest.
Cypress Semiconductor (NASDAQ: CY) announced that it completed the divestiture of its TrueTouch mobile touchscreen business to Parade Technologies, Ltd. (Taipei Exchange: 4966.TWO), a leading supplier of video displays and interface ICs headquartered in Silicon Valley.
PennyMac Mortgage Investment Trust (NYSE: PMT) reported net income of $28.1 million ($75.2 mil. year ago), or $0.36 per diluted share ($0.93), for the second quarter of 2015, on net investment income of $69.8 million ($120.6).
George Putnam has suceessfully invested in distressed companies for nearly 30 years and The Turnaround Letter's market-beating returns demonstrate the profit potential. He knows all the pitfalls, too--which he shares in this free report!
The key to evaluating troubled companies with strong brands is figuring out the cause of their difficulty and determining if it can be fixed. In many cases, the company will have taken on too much debt but will still have a strong core business.
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