-- 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%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our price target by CAD36 to CAD102, 11.5x our FY 26 (Sep.) EPS view, below CGI's three-year average (~18x) on macro uncertainty and U.S. Federal risks. We lower our FY 26 EPS view by CAD0.02 to CAD8.88 and lower FY 27's by CAD0.12 to CAD9.40. We are concerned that Q2's continued sales deceleration (+1.6% ex-FX, -180 bps Q/Q, -170 bps Y/Y) reflects structural pressure rather than just temporary issues. Q2's bookings decline (-4% Y/Y) and lower TTM book-to-bill of 108.4% (-220-bps Y/Y) also signal risk as clients keep delaying spending decisions, and we note the decline came despite strong bookings performance in U.S. Federal (TTM book-to-bill of 110.9%), where CGI's expectation of an organic sales growth resumption in Q3 carries uncertainty and may be overshadowed by European weakness, in our view. The company's lack of formal guidance increases our uncertainty. Nonetheless, a below-historical valuation and targeted Q3 organic sales pickup in U.S. Federal offer near-term upside if CGI can execute.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our target at $398, 17.1x our new 2027 EPS estimate, above AMGN's 10-year historical forward average of 14.1x, justified by its strengthening outlook. We raise our 2026 EPS view to $22.56 from $22.15 and our 2027 EPS to $23.23 from $22.83. AMGN delivered a strong Q1, showcasing significant positive momentum across its business. The company's six core growth drivers generated $5.6 billion in the quarter, growing 24% Y/Y. Standout performers included Repatha, with 34% Y/Y sales growth and the rare disease drug Uplinza, which saw sales surge 188% Y/Y. In terms of pipeline advancement, we continue to view the developments on Amgen's obesity treatment candidate, MariTide, as encouraging. AMGN announced new Phase III trials to explore less frequent dosing schedules (every eight or 12 weeks), a key potential differentiator, in our view. MariTide's potential for monthly or even less frequent (quarterly) dosing could be an important differentiator that would improve patient convenience and long-term adherence.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We trim our 12-month target to $235 from $250, valuing shares at 19.5x our 2027 EPS outlook of $12.04 (adjusted from $12.03; 2026 EPS view revised to $11.26 from $11.25), a discount to ITW's long-term multiple average given a slowing rate of growth. Anemic growth and softness in several of ITW's segments were reflected in Q1 results. Organic sales grew just 0.4%, with a 1% headwind from product pruning activity and declines in four out of seven segments: Food Equipment -3%, Automotive OEM -1%, Construction Products -1%, and Specialty Products -5%. More positively, enterprise initiatives continue to drive margin gains, with pricing fending off inflationary pressures well. While management noted outperformance across challenged markets in Q1, we still view ITW as lagging behind other industrial peers that have a more concentrated exposure to secular growth opportunities. We reiterate our Sell recommendation on shares.