CHICAGO, July 28, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog includethe Regions Financial Corporation (NYSE:RF-Free Report), Federal National Mortgage Association (OTCBB:FNMA-Free Report), Wells Fargo & Company (NYSE:WFC-Free Report), JPMorgan Chase & Co. (NYSE:JPM-Free Report) and AbbVie Inc. (NYSE:ABBV-Free Report).
Today, Zacks is promoting its 'Buy' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Friday's Analyst Blog:
Regions Financial Joins Fannie Mae's DUS Network
Regions Financial Corporation's (NYSE:RF-Free Report) core banking subsidiary, Regions Bank, now stands listed among the 24 Fannie Mae Delegated Underwriting and Servicing ('DUS') lenders. The company also acquired a DUS servicing portfolio of around $1 billion. The terms and conditions of the agreement were not disclosed.
The Fannie Mae DUS program - the flagship program of Federal National Mortgage Association (OTCBB:FNMA-Free Report) - was introduced in 1988 to enhance and maintain product standardization in the multifamily housing industry. Fannie Mae along with its lender partners provides liquidity to the multifamily housing market through this program. It has provided liquidity of over $300 billion in the mortgage market to finance more than 6.3 million units of multifamily housing since the inception of the program.
The lenders in the DUS network are authorized to underwrite, close and deliver most loans without Fannie Mae's pre-review. The business model calls for a risk sharing feature. As the DUS lenders (which mainly include financial institutions and independent mortgage lenders) are well capitalized companies, these share risk of loss over the life of the loan. Wells Fargo Multifamily Capital - an arm of Wells Fargo & Company (NYSE:WFC-Free Report) and JPMorgan Chase & Co. (NYSE:JPM-Free Report) are among the other partners in the DUS network.
Regions have a decent presence in the real estate, commercial as well as capital markets. The latest approval will further aid this Alabama-based regional bank's expansion strategies. It will enable the bank to provide effective financing solution to support multifamily housing client base. The company views multifamily housing as a promising sector of the real estate market. We believe the company is poised to benefit from the improving housing market.
Regions recently reported second-quarter 2014 results with earnings from continuing operations of 21 cents per share, up 16.7 % year over year. A strong capital position, reduced non-interest expenses and increase in loans and deposits were the positives for the quarter. However, lower top line was on the flip side.
AbbVie Tops Earnings on Humira Focus
AbbVie Inc. (NYSE:ABBV-Free Report) reported second quarter 2014 earnings of 82 cents per share, unchanged from the year-ago earnings but surpassing the Zacks Consensus Estimate of 76 cents. Revenues increased 5% to $4.926 billion in the second quarter of 2014, surpassing the Zacks Consensus Estimate of $4.671 billion. Results were boosted by Humira's strong performance.
Including one-time items, second quarter 2014 earnings came in at 68 cents per share, up 3%.
Humira Remains the Growth Driver
Key drug Humira recorded growth of 26.2% with revenues coming in at $3.288 billion. U.S. sales increased 35.6% ($1.661 billion). Ex-U.S. sales increased 17.8% to $1.627 billion. Factors like continued market expansion, share gains, and particularly strong growth in gastroenterology drove Humira's sales in the U.S. Humira is expected to exhibit high-teens growth in the U.S. in the third quarter.
Ex-U.S. sales of Humira were driven by new indications, share gains and double-digit market growth in most key countries. The timing of international shipments also helped sales. Low double-digit growth is expected in the third quarter in ex-U.S. markets driven by strong underlying trends that will be partially offset by the timing of shipments. Overall, Humira sales are expected to grow in double-digits this year.
Today, Zacks is promoting its 'Buy' stock recommendations. Get #1Stock of the Day pick for free.
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