Redwood Trust (RWT) and Castlelake have agreed to form a joint venture to purchase up to $8 billion of prime jumbo mortgage loans, Castlelake said on Wednesday.
Under the joint venture, Redwood's Sequoia platform will source, aggregate, and diligence loans that meet defined eligibility criteria, Castlelake said.
Financial details related to the joint venture were not disclosed.
Shares of Redwood Trust were down 2.2% in Wednesday trading.
Price: $5.63, Change: $-0.12, Percent Change: -2.09%
Brown-Forman (BF.A) and Pernod Ricard ended discussions over a potential business combination after failing to reach mutually agreeable terms."We intend to create long-term value for all stakeholders by focusing on our strategic and operational priorities," Brown-Forman said Tuesday in a statement. "This includes unlocking future growth by expanding our geographic footprint, continuing to build brands that resonate with consumers, and enhancing operational efficiency."In late March, the companies confirmed they were in talks, noting "there could be no assurance that any such agreement would be reached."Brown-Forman shares fell 2.9% in after-hours trading.
(Updates with share repurchase and dividend information in the last two paragraphs.)Visa (V) reported fiscal Q2 adjusted earnings late Tuesday of $3.31 per diluted share, up from $2.76 a year earlier.Analysts polled by FactSet expected $3.10.Revenue for the three months ended March 31 was $11.23 billion, up from $9.59 billion a year earlier.Analysts polled by FactSet expected $10.75 billion.In April, the company's board authorized a new $20 billion multi-year share repurchase program, it said.Visa also maintained its quarterly dividend at $0.67 per share, payable June 1 to holders on record as of May 12.
BXP Inc (BXP) reported Q1 funds from operations late Tuesday of $1.59 per diluted share, down from $1.64 a year earlier.Analysts surveyed by FactSet expected $1.58.Revenue in the three months ended March 31 rose to $872.1 million from $865.2 million a year earlier.Analysts polled by FactSet expected $843.1 million.The company expects FFO of $1.69 to $1.71 a share in Q2 and $6.90 to $7.04 a share in the full year, compared with the prior forecast of $6.88 to $7.04.Analysts surveyed by FactSet expect $1.72 in Q2 and $6.95 in the full year.BXP shares fell 4.6% in after-hours trading.