Countrywide projects return to profit
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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 expected to be profitable this quarter and in 2008, and had weathered the worst of the nationwide housing downturn.
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Countrywide Financial Corp  said on Wednesday it helped more than 81,000 borrowers stay in their residences and avert possible foreclosures in 2007, by either modifying or otherwise restructuring their home loans.
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Countrywide says it will recover in the fourth quarter, and investors appear to be buying what Angelo Mozilo's company is selling.
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Ski resort developer Intrawest Corp. (ITW.TO: Quote, Profile, Research) (IDR.N: Quote, Profile, Research) jumped back into profit in the fourth quarter on greater contributions
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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 forecast a return to profit this quarter and said it has weathered the worst of the nationwide housing downturn.
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Countrywide Financial Corp. CFC.N 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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Countrywide Financial Corp , the largest U.S. mortgage lender, said on Wednesday that foreclosures and late payments rose in December to the highest on record, though it made more loans than expected in the fourth quarter.
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Stocks rose on Thursday after a Wall Street Journal report that Bank of America  is in talks to buy mortgage lender Countrywide Financial Corp  sent financial stocks higher.
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Profits got a boost despite sluggish sales from the challenging environment.
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The mortgage giant returns to quarterly reporting with its Q1 earnings.
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Stocks were set to open higher on Friday after lender Countrywide Financial Corp.  said it expects to return to profitability this quarter and Microsoft Corp.  raised its profit outlook.
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Stocks rose on Friday after a higher profit forecast by Microsoft Corp.  lifted all three major indexes, and an upbeat outlook by lender Countrywide Financial Corp.  stemmed fears of financial-sector losses.
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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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Countrywide Financial Corp , the largest U.S. mortgage lender, said on Thursday it has lined up $12 billion of financing to help weather a housing slowdown that has reduced loan demand and will lead to widespread layoffs.
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The country house market staged a recovery during the first half of the year following a revival of City bonuses and increasing confidence in the economy, figures showed today.
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Countrywide Financial, the nationâs largest mortgage lender, said yesterday that it had lined up $12 billion of financing to help weather a housing slowdown that it expects to lead to widespread layoffs.
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U.S. forest products company Weyerhaeuser Co.  posted a quarterly profit on Friday, versus a year-earlier loss, helped by a refund of duties and an increased profit from its real estate business.