Countrywide sees rebound ahead after posting loss
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CHARLOTTE - Countrywide Financial Corp. , the biggest US mortgage lender, said profit will rebound from its first quarterly loss in 25 years as it cuts jobs and tightens lending standards. Shares rose $4.23, or 32.4 percent, to $17.30, the biggest increase in more than two decades.
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Countrywide Financial Corp , the mortgage lender being acquired by Bank of America Corp , posted a larger-than-expected $421.9 million quarterly loss on Tuesday as more homeowners fell behind on payments.
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Stock futures pointed to a rebound on   Friday after two consecutive days of losses, with steadily   declining oil prices seen easing inflation fears roused earlier   in the week.
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CALABASAS, Calif., Sept. 12 -- Countrywide Financial said Thursday that it had increased its borrowing capacity by $12 billion as it struggles to weather the slowdown in the housing market.
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U.S. stock futures rose on Thursday as investors bet that data on new home sales would strengthen the case for further interest rate cuts to ease the toll of the housing slump on the economy.
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Countrywide Financial Corp., its stock pummeled this week by rumors of bankruptcy and lackluster housing market forecasts, said Wednesday the percentage of borrowers who missed payments on home loans last month rose, signaling worsening trouble for the nation's largest mortgage lender and for the entire mortgage sector.
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U.S. stock futures pointed to a   rebound on Friday after two consecutive days of losses, with   steadily declining oil prices seen offsetting inflation fears   roused earlier in the week.
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Countrywide Financial Corp. on  Wednesday posted a 47 percent drop in quarterly earnings and  cut its outlook as mortgage refinancings fell and interest  rates climbed, sparking a broad sell-off in mortgage company  stocks.
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U.S. stocks rose on Tuesday as a report showing a surprisingly robust services sector boosted hopes that profit growth would weather fallout from a slowing housing market.
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US mortgage giant Countrywide Financial sees more than $1bn in quarterly losses - but improved forecasts send shares surging.
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U.S. stocks gained on Thursday after news Bank of America  is in advanced talks to buy struggling mortgage lender Countrywide Financial Corp .
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Countrywide Financial Corp , the battered mortgage lender being acquired by Bank of America Corp , on Tuesday posted a fourth-quarter loss, hurt by mounting defaults in a sinking housing market.
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Stock index futures suggested Wall  Street may rebound on Thursday as a fresh round of earnings  could shift investors&#39; focus back to corporate profitability  and away from the deteriorating subprime credit market.
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Stock index futures rose on Monday, suggesting a rebound from last week's losses, after reports that foreign government funds could make additional investments in U.S. banks hurt by credit market losses.
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Countrywide Financial Corp , the largest U.S. mortgage lender, posted a $1.2 billion third-quarter loss on Friday, hurt by write-downs as the U.S. housing market deteriorated.
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Countrywide Financial Corp   posted a $1.2 billion third-quarter loss on Friday, but its  shares soared after the largest U.S. mortgage lender said it  expects to be profitable in the fourth quarter and in 2008, and  has weathered the worst of the housing downturn.
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Stocks rose on Tuesday, as investors snapped up shares in sectors seen likely to withstand a slowdown in growth following reports pointing to further weakness in housing.