Capital One Cuts 2007 Earnings Forecast
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CHARLOTTE, N.C. -- Capital One Financial Corp. said Thursday that its 2007 earnings will fall short of its previous expectations because of increased loan delinquencies and additional legal reserves in the fourth quarter.
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WASHINGTON (CBS.MW) -- Shares of Freddie Mac fell Friday as the market digested news about the mortgage company&#39;s earnings, which were restated lower for 2003.
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Wall Street slid in early trading after a profit warning from Capital One raised concerns about a spread of the turmoil in the credit markets.
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UnitedHealth Group  said on Monday it lowered its 2007 revenue forecast after determining its Medicare Advantage membership will likely decline "modestly" this year.
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Countrwide Financial, the biggest mortgage lender in the US, slashes its profit predictions for the full year.
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H&R Block Inc. , the largest  U.S. tax preparer, on Thursday cut its full-year earnings  outlook and said its quarterly loss more than quadrupled, hurt  by an increase in mortgage delinquencies.
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Coca-Cola Enterprises Inc. (CCE.N: Quote, Profile, Research) , the world&#39;s largest bottler of Coca-Cola drinks, on Wednesday cut its earnings forecast due to lower-than-expected
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The company revised its 2007 sales forecast lower for a third time this year because of price reductions and reduced orders.
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Citigroup  will announce plans to cut payrolls by 17,000 to 24,000 people when it reports earnings on Tuesday, CNBC television reported on Monday, adding that the layoffs could take place over a year.
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Capital One Financial Corp , a credit card issuer and bank, said on Wednesday that fourth-quarter earnings fell on rising credit card loan losses and losses related to a shut-down mortgage unit.
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Wall Street bonuses fell nearly 5 percent in 2007 after a relentless subprime mortgage crisis battered the stock market, forcing the country's biggest investment banks to write down billions in bad loans.
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Capital One Financial Corp , a credit card issuer and banking company, posted a third quarter net loss, hurt by charges from shuttering its GreenPoint Mortgage business.
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Nasdaq Stock Market Inc.  issued a disappointing 2007 earnings forecast on Tuesday, overshadowing strong quarterly earnings and sending its shares down as much as 11 percent.
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UnitedHealth Group  on Monday said it has lowered its 2007 revenue forecast after determining its SecureHorizons Medicare Advantage membership will likely decline "modestly" this year.
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The bank said the write-down cut $1 billion from its profit and that it had suspended traders for errors.
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Hamburger chain Wendy's International Inc.  on Monday slashed its 2007 earnings forecast and said it would explore a possible sale of the company instead of other restructuring options.
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U.S. mortgage finance giant Fannie  Mae said on Wednesday a Securities and Exchange Commission  decision that it must restate earnings over accounting problems  is likely to cut into its capital position.