MBIA posts fourth quarter loss
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MBIA Inc,  a bond insurer  struggling to maintain the top credit ratings necessary for its  business, posted a quarterly loss on Thursday after a $3.5  billion writedown.
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The embattled student lending giant said that it lost $1.6 billion in its fourth quarter as it prepared for a jump in student loan defaults.
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The bank posted a fourth-quarter loss of $11.28 billion, and a loss for the entire year, besieged by investments in U.S. subprime mortgages. It said it expected more problems in 2008.
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AMD reported a heavy loss for its fourth quarter on Thursday, due mostly to charges connected to its acquisition of graphics chip maker ATI.AMD reported a net loss of $1.772 billion -- greater than its revenue for the quarter, which was $1.770 billion. The figures compare to a loss in the fourth quarter last year of $576 million on revenue of $1.773 million.The net loss included charges of $1.675 billion, mostly related to&#160;AMD&#39;s acquisition of ATI in 2006. Excluding the charges, AMD said its loss would have been $97 million, greater than the $25 million it lost in the fourth quarter a year earlier.This is the fifth-straight quarterly loss for AMD, which has been struggling to get its newest processors to market on time.AMD delayed volume shipments of its quad-core Opteron processors, code-named Barcelona, in early December when it said it found a bug in the chip&#39;s Level 3 cache memory. Earlier this month,&#160;AMD said it was pushing back the release of its quad-core Phenom 9700 and 9900 processors.The company still managed to ship a record number of microprocessors in the quarter, it said on Thursday, including nearly 400,000 of its quad-core chips.
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WASHINGTON, Jan. 29  â MBIA, the large insurer of municipal bonds, has agreed to pay $75 million to settle civil securities-fraud charges by federal and New York State authorities over what they said was a sham $170 million transaction in 1998, the company and regulators announced Monday.
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MCI Inc. (MCIP.O: Quote, Profile, Research) on Thursday reported a $3.4 billion third-quarter loss as it wrote down the value of its assets due to a withering price war for long-distance telephone service.
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NEW YORK -- MBIA Inc. reported write-downs of $3.5 billion on souring credit derivatives in the fourth quarter Thursday, raising the possibility that the world's largest bond insurer could lose its top credit rating.
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Countrywide Financial Corp , the battered mortgage lender being acquired by Bank of America Corp , posted a larger-than-expected fourth-quarter loss on Tuesday, as a sinking housing market caused more borrowers to fall behind on payments.
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Agere Systems Inc. AGRa.N on Tuesday  posted a fiscal fourth-quarter loss as the communications chip  maker's revenue declined and it took hefty charges for  restructuring.
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Student lending company Sallie Mae  posted a fourth-quarter loss on Wednesday, citing higher  provisions for loan losses due to the weakening credit markets.
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Still carrying the weight of costs related to last year&#39;s&#160;acquisition of graphics vendor ATI, AMD recorded its fourth straight quarter of net losses Thursday.
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Drug maker Schering-Plough Corp  on Tuesday reported a fourth-quarter loss as special charges from its acquisition of Organon Biosciences late last year offset sharply higher sales.
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The mortgage lender posted a fourth-quarter loss of $509.1 million as it raised its loan-loss provisions to account for growing defaults and foreclosures.
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AMD reported a heavy loss for its fourth quarter on Thursday, due mostly to charges connected to its acquisition of graphics chip maker ATI.
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MBIA Inc  said on Thursday it  would have the cash to meet commitments even after reporting a  worse-than-expected loss, but rating agencies kept the pressure  on the world's largest bond insurer with a series of actions  and warnings late in the day.
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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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The company posted a wider-than-expected fourth-quarter loss, burdened by a 35 percent jump in its fuel bill.