$Flagstar Financial (FLG.US)$ Flagstar Financial, Inc. (NYSE...

Flagstar Financial, Inc. (NYSE:FLG)

Shares of Flagstar Financial, Inc. (NYSE:FLG) rose for a second day on Friday, adding 6.96 percent to its valuation to close at $11.83 as investor sentiment was boosted by an improvement in its earnings performance for the past quarter and full year of 2024.

While still operating at a loss, Flagstar was able to narrow its net losses by 97 percent during the fourth quarter to only a $0.34 loss per share versus the $11.27 recorded in the same period last year.

The figure was also 57 percent lower than the $0.79 booked in the third quarter of 2024.

Meanwhile, Flagstar (NYSE:FLG) was able to reach $625 million in revenues during the period, beating analysts’ projected revenues of $558.6 million.

By next year, Flagstar (NYSE:FLG) said it targets to finally swing to profitability, supported by a $600 million expense reduction plan and the sale of its non-core mortgage business to move to higher-margin businesses.

Overall, FLG ranks 10th on our list of firms buck market slump on impressive earnings, new deals