PennyMac Financial Services has been manipulating the accounting on its income statement and balance sheet. It’s a dirty and a dangerous game that runs the risk of alienating both the investors and lenders that are keeping the teetering lender afloat.
PennyMac Financial Services is in a world of trouble. Its Securities and Exchange Commission filings suggest that its challenge has been navigating prosperity, not peril. Except that everything about PennyMac’s past two and a half years can be categorized as “BT,” short for “before the Federal Reserve began tightening.”
Once the Federal Reserve’s aggressive interest rate increases began in March — propelling conventional 30-year mortgage rates to 6.66 percent from 3.01 percent a year ago — much of PennyMac’s economic opportunity set disappeared.
Freedom Holding Corp. has some explaining to do. The financial services firm has quite improbably become one of the fastest growing companies on the planet. It lists its shares on the Nasdaq, is incorporated in Las Vegas, but for all intents and purposes runs its operations mostly in Kazakhstan.
To U.S. oncologists who treat individuals with small cell lung cancer, lurbinectedin’s arrival was a big deal. The Food and Drug Administration permitted its sale in the United States under its accelerated approval program. Then the drug failed to meet the primary endpoint of its clinical trial’s Phase III.
Investors might be shocked to learn what lies behind the recent muscular share price growth of Freedom Holding Corp., a Las Vegas–incorporated bank and securities brokerage with its principal office in Almaty, Kazakhstan. Freedom Holding’s astronomical revenue growth has seemingly made it the fastest-growing financial services company on Earth.
Voluntary reports submitted to a Food and Drug Administration database, including entries from surgeons, paint a picture of a new Penumbra catheters whose safety problems the company may be forced to address in a substantive manner.
The U5 is one of the most important documents on Wall Street. And negotiations to discuss them can easily become a battleground where employers and employees fight over whether an upcoming exit will be classified as a resignation or a firing — and if problematic behavior is revealed.
For more than a decade Amy Walker, a research analyst in London, has been waging a ceaseless battle for justice in connection with what she alleges was a sexual assault by her colleague at Credit Suisse.