Annaly Capital Management, Inc. and Chimera Investment Corporation Announce Internalization of Chimera’s Management

Chimera Investment (CIM) Announces Management Internalization; Q2 Results; Buyback Program

Chimera Investment (NYSE: CIM) and Annaly Capital Management, Inc. (Annaly) jointly announced that, effective today, Chimera is internalizing its management function. The independent directors on Chimeras Board agreed to the internalization with Annaly in order to accelerate growth and realize cost efficiencies. Chimera will continue to be led by its key professionals including President and Chief Executive Officer Matthew Lambiase, Chief Financial Officer Rob Colligan and Chief Investment Officer Mohit Marria. In addition, Chimeras head of structured products, Choudhary Yarlagadda, was appointed Chief Operating Officer and Phillip J. Kardis II, a... More

Annaly Capital Management (NLY) Tops Q2 EPS by 14c

Annaly Capital Management (NYSE: NLY) reported Q2 EPS of $0.41, $0.14 better than the analyst estimate of $0.27.

Core earnings improved during the quarter ended June 30, 2015 compared to the quarter ended March 31, 2015 due to lower amortization expense on Investment Securities, a result of higher interest rates and slower... More

Annaly Capital Management (NLY) Approves $1B Common Stock Buyback; Announces Internalization of Chimera Management

Annaly Capital Management (NYSE: NLY) announced that its Board of Directors has authorized the repurchase of up to $1 billion of its outstanding common shares through December 31, 2016.

Purchases made pursuant to the program will be made in either the open market or in privately negotiated transactions from time to time as permitted by securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors.... More