Radian 4Q Profit Boosts Stock Price
Radian Group, which reported a net operating profit for the fourth quarter, was the largest gainer on a percentage basis among Mortgage Industry Equity Composite stocks on Wednesday.
The private mortgage insurer ended the day 6% higher than its previous close. Rival MGIC Investment Corp. came along on the coattails for a 2.6% gain.
Home Loan Servicing Solutions ended the day up 1.4% as investors anticipated the company's 4Q13 earnings report due out on Thursday. At one point the company's stock hit $20.43 per share before rolling back to $20.11 per share.
There were eight MIEC stocks with a higher close and nine that closed lower. The Dow Jones Industrial Average lost five points.
KB Home closed over 2.1% lower while PHH closed over 2% lower than it did on Tuesday.