On Friday, Shares of Radian Group Inc. (NYSE:RDN), dropped -0.73% to $17.73.
Radian Group, stated net income from ongoing operations for the quarter ended March 31, 2015, of $91.7 million, or $0.39 per diluted share, which comprised of net gains on investments and other financial instruments of $16.8 million. This compares to net income from ongoing operations for the quarter ended March 31, 2014, of $146.0 million, or $0.68 per diluted share, which comprised of net gains on investments and other financial instruments of $43.0 million. Book value per share at March 31, 2015, was $11.53.
- New mortgage insurance written (NIW) was $9.4 billion for the quarter, contrast to $10.0 billion in the fourth quarter of 2014 and $6.8 billion in the preceding-year quarter.
- Of the $9.4 billion in new business written in the first quarter of 2015, 63 percent was written with monthly premiums and 37 percent with single premiums. This compares to a mix of 69 percent monthly premiums and 31 percent single premiums in the fourth quarter of 2014. For the twelve-months ended March 31, 2015, the percentage of new business written with single premiums averaged about 30 percent.
- Refinances accounted for 33 percent of total NIW in the first quarter of 2015, contrast to 22 percent in the fourth quarter of 2014, and 18 percent a year ago.
- NIW continued to comprise of loans with excellent risk characteristics.
- Total primary mortgage insurance in force was $172.1 billion, contrast to $171.8 billion as of December 31, 2014, and $162.4 billion as of March 31, 2014. Persistency, which is the percentage of mortgage insurance in force that remains on the companys books after a twelve-month period, was 82.6 percent as of March 31, 2015, contrast to 84.2 percent as of December 31, 2014, and 83.3 percent as of March 31, 2014.
- The mortgage insurance provision for losses was $45.9 million in the first quarter of 2015, contrast to $83.6 million in the fourth quarter of 2014, and $49.6 million in the preceding-year period.
- The loss ratio in the first quarter was 20.4 percent, contrast to 36.9 percent in the fourth quarter of 2014 and 25.0 percent in the first quarter of 2014.
- Mortgage insurance loss reserves were $1.4 billion as of March 31, 2015, contrast to $1.6 billion as of December 31, 2014, and $1.9 billion as of March 31, 2014.
- Primary reserve per primary default (not taking into account IBNR and other reserves) was $28,423 as of March 31, 2015. This compares to primary reserve per primary default of $27,683 as of December 31, 2014, and $26,509 as of March 31, 2014.
Radian Group Inc., through its auxiliaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance, and Mortgage and Real Estate Services (MRES).
Shares of VMware, Inc. (NYSE:VMW), declined -0.72% to $87.47, during its last trading session.
VMware, declared that Jonathan Chadwick, VMware’s chief financial officer, chief operating officer and executive vice president will present as a keynote speaker at the Jefferies 2015 TMT Conference in Miami, FL on Tuesday, May 12th, 2015 at 9:15 a.m. PT/ 12:15 p.m. ET.
VMware, Inc. provides virtualization infrastructure solutions in the United States and internationally. The company’s virtualization infrastructure solutions comprise a suite of products designed to deliver a software-defined data center (SDDC), run on industry-standard desktop computers and servers, and support a range of operating system and application environments, in addition to networking and storage infrastructures.
At the end of Friday’s trade, Shares of JDS Uniphase Corporation (NASDAQ:JDSU), dwindled -0.71% to $12.57.
JDS Uniphase, stated results for its fiscal third quarter ended March 28, 2015.
GAAP net revenue was $410.7 million, with net loss of $(13.2) million, or $(0.06) per share. Preceding quarter GAAP net revenue was $437.1 million, with net loss of $(25.1) million, or $(0.11) per share. GAAP net revenue for fiscal third quarter 2014 was $418.0 million, with net loss of $(1.5) million, or $(0.01) per share.
Non-GAAP net revenue was $410.7 million, with net income of $27.6 million, or $0.12 per share. Preceding quarter non-GAAP net revenue was $437.1 million, with net income of $35.4 million, or $0.15 per share. Non-GAAP net revenue for fiscal third quarter 2014 was $418.0 million, with net income of $23.4 million, or $0.10 per share.
JDS Uniphase Corporation provides network and service enablement solutions and optical products worldwide. The company’s Network and Service Enablement segment offers network and service enablement solutions that enable the design, development, deployment, and maintenance of communication equipment and networks.
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