Boston, MA 02/18/2014 (wallstreetpr) – Top executives fleeing Annaly Capital ManagementInc. (NYSE:NLY)
Annaly Capital Management Inc. (NYSE:NLY) continues to slip in the market amidst concerns in Wall Street of the reasonsbehind the massive exodus of its top executives. There seem to be something amiss in the company behind the massive exodus
Concerns are ripe in the air especially after Chief operating officer James Fortescue and Co chiefInvestment officer Kristopher Konrad tendered their resignations with immediate effect. The massive exodus begun with long time John Lambiase failing to stand for reelection after serving the company for nearly 17 years.
The main reason behind the massive resignation could be the below par results that the company has been reporting for quite some time. The Company’s book value per share has been ona decline losing nearly a fifth of its value. Annaly has in the recent past been faced with lots of criticism with therecent one being on its move to outsource its management to an external private entity.
Boston Scientific Corporation (NYSE:BSX) shares continue to soar in the market
Large cap med tech Boston Scientific Corporation (NYSE:BSX) seem to have done more than enough to clean up its mess in the market as its shares continue to soar at the back of solid and impressive fourth quarter financial results. Fourth quarter results for F2013 was arguably the best in the recent past beating consensus estimate with all divisions performing exemplary well during the quarter.
The impressive fourth quarter results come at the back of cost cutting measures as the company continues to implement its “Plant Network Optimization” strategy aimed at improving both efficiency and operational efficiency. The company has risen by over 70% over the past years and by 100% over the past 2 years.
Newmont Mining Corp (NYSE:NEM) downgraded to a neutral rating
Newmont Mining Corp (NYSE:NEM) has been downgraded to neutral rating by HSBC securities after providing a downbeat guidance for 2014 which fell below analysts’ expectations with RBC capital lowering its rating to an “underperform”. Newmont also had its price target lowered from $28 to $24 by analysts at TD securities while analysts at CIBC lowered their price target from $30 to $27. Newmont specializes in Gold mining with its assets spread in the US, Australia Indonesia, Ghana and Mexico.
