Shares of Annaly Capital Management (NYSE: NLY) surged higher on Thursday, jumping 6.2% shortly after the opening bell at 9:48 a.m. ET. By 1:15 p.m. ET, it remained up about 4.8% on the day. The stock is down about 40% year to date.

The markets were mixed on Thursday morning as the Dow Jones Industrial Average was up more than 400 points at around 1:15 p.m. ET. The S&P 500 was up slightly, but the Nasdaq was in negative territory in the early afternoon.

Annaly Capital Management, a mortgage real estate investment trust (REIT), posted strong third-quarter earnings after the market close on Wednesday, which sent the stock price surging higher.

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Source Fool.com