While the share prices of a number of companies either surge or are punished depending on whether or not they meet earnings expectations, a different set of criteria apply to stocks in the biotech sector, where earnings are not as important as developments in a company’s product pipeline.
Pepper reported assets under management were down modestly in the March Q on currency. Arrears were seasonally higher but improving, while mortgage originations grew strongly, the broker notes. Pepper issued its largest ever mortgage-backed security in the quarter.
Macquarie has taken another look at the company’s European loan servicing business, concluding there appears a lot of potential on the horizon. In particular the prospect for an entrance into new markets,such as Italy, seems to excite the analysts.