Newz(AP) — Arbor Realty Trust (ABR) on Friday reported a second-quarter loss of $27 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Uniondale, New York-based company said it had a loss of 20 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 10 cents per share.
The real estate investment trust posted revenue of $230.9 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $230.7 million. The company’s shares closed at $4.79.
A year ago, they were trading at $11.47. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABR at https://www.zacks.com/ap/ABR Source
(TXNM) on Friday reported earnings of $71.4 million in its second quarter. The Albuquerque, New Mexico-based company said it had profit of 64 cents per share. Earnings, adjusted for one-time gains and costs, were 58 cents per share.
The power company posted revenue of $548.6 million in the period. Access a Zacks stock report on TXNM at https://www.zacks.com/ap/TXNM Source
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