JPMorgan takes $1.3 billion writedown
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JPMorgan Chase & Co  said on  Wednesday quarterly profit fell a worse-than-expected 24  percent as the No. 3 U.S. bank lost $1.3 billion on risky  mortgages and set aside more money for rising losses on  home-equity loans.
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JPMorgan Chase & Co. on Wednesday said its profit jumped 20 percent in the second quarter, as the nation's third-largest bank benefited from a surge in investment banking fees.
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Bond insurer Ambac Financial Group Inc  on Tuesday reported a quarterly loss of $3.3 billion after recording massive credit derivative write-downs and setting aside more money for credit losses.
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JPMorgan Chase & Co. JPM.N, the No.  2 U.S. bank, said on Wednesday its fourth-quarter earnings fell  11 percent, hurt by charges related to its merger with Bank One  last year.
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Sprint Corp., the third-biggest US long-distance carrier, had a third-quarter loss of $1.91 billion on costs to write down the value of its telephone network as it shifts to reliance
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- Capital Bank Corp  said it is writing down certain assets estimated to worth $2.6 million to $2.8 million.
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JPMorgan Chase & Co. JPM.N, the No.  2 U.S. bank, said on Wednesday its fourth-quarter earnings fell  11 percent, hurt by charges related to its merger with Bank One  last year and falling investment bank results.
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JPMorgan Chase may be looking to open up its wallet and make an acquisition.
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The investment bank said 3rd-quarter profit fell to $1.54 billion, hurt by a global credit crisis that cut into stock trading, corporate lending, and results from investments.
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A unit of JPMorgan Chase & Co. JPM.N   botched a trade for a basket of Japanese stocks on Monday when   it mistakenly sold shares linked to the wrong index, helping   spark a brief fall in the market.
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WASHINGTON  - AT&T Corp. on Thursday reported a $7.1 billion third-quarter loss due to an $11.4 billion writedown of its assets after its retreat from consumer services and other restructuring charges.
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H&R Block Inc. , the nation&#39;s  largest tax preparer, on Wednesday said its decision to write  down the value of its Option One Mortgage unit, a subprime  lender that is up for sale, increased the company&#39;s  third-quarter net loss by $15.5 million.
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Merrill Lynch & Co Inc on Thursday said it took a $14.1 billion writedown and adjustments in the fourth quarter as bad subprime mortgage bets forced the brokerage to sell pieces of the company to foreign investors to raise capital.
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Sprint Corp.  on Tuesday reported a wider third-quarter loss due to a writedown in the value of its long-distance business.
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Sprint Corp. FON.N on Tuesday  reported a wider third-quarter loss due to a writedown in the  value of its long-distance business.
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MCI Inc., the second-largest US long- distance telephone company, will write down assets by $3.5 billion in the third quarter, reflecting their reduced value as calling prices tumble and demand declines.
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Morgan Stanley, the No. 2 U.S. investment bank, reported a $9.4 billion writedown on Wednesday from bad bets on mortgage-related debt, leading it to take a $5 billion infusion from an arm of the Chinese government