Walter Investment (WAC) gains 4.6% premarket after yesterday's 20% washout following an earnings...


Walter Investment (WAC) gains 4.6% premarket after yesterday's 20% washout following an earnings miss. Calling the sell-off "clearly unwarranted," Sterne Agee upgrades to Buy. A check of the CC transcript finds management disclosing "material weakness" in certain internal controls amid the busy acquisition environment leading to a small accounting error.

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