Earnings roundup: Fannie Mae seeks gov’t aid after 4Q loss; NYMagic posts profit in 4Q

Earnings roundup: Fannie Mae, NYMagic

Among the earnings stories for Friday, Feb. 26, from AP Financial News:

WASHINGTON (AP) — Fannie Mae is asking for a federal cash infusion of $15.3 billion after posting another big loss in the fourth quarter of last year.

NEW YORK (AP) — Marine insurance provider NYMagic Inc. posted a fourth-quarter profit, reversing a year-ago loss, as the company sold more policies and saw positive returns on its investments.

RENO, Nev. (AP) — Monarch Casino & Resort Inc. said that its fourth-quarter profit sank nearly 80 percent as revenue dipped and a hefty expense dragged down results already hampered by the recession.

CARMEL, Ind. (AP) — Conseco Inc., the parent of Banker’s Life and Casualty and Colonial Penn Life Insurance, posted a fourth-quarter profit, reversing last year’s loss, as sales rose 18 percent and the company lost less on investments than during the market downturn.

LONDON (AP) — Virgin Media Inc., a British provider of TV, Internet and phone services, said its fourth-quarter net loss shrank as it added subscribers who increased the amount they spend every month.

PITTSBURGH (AP) — Atlas Energy Inc. reported a wider loss in the fourth quarter amid lower commodity prices for oil and natural gas.

CHESTERFIELD, Mo. (AP) — Shares of Insituform Technologies Inc. surged after the company reported a jump in fourth-quarter earnings and sales.

EAST BRUNSWICK, N.J. (AP) — Drug maker Savient Pharmaceuticals Inc. is reporting a smaller fourth-quarter loss due to a one-time gain.

MENLO PARK, Calif. (AP) — Drug developer Geron Corp. said its fourth-quarter loss widened on higher operating expenses.