Fannie Mae Restates Earnings by $6.3 Billion
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Fannie Mae erased $6.3 billion in profit in a long-awaited restatement Wednesday capping the accounting scandal that stunned financial markets and brought the ouster of top executives and a record fine against the government-sponsored mortgage...
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Embattled U.S. mortgage finance  giant Fannie Mae on Tuesday said it had discussed the  possibility of an earnings restatement with regulators,  reversing a top executive's comment.
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The S&P 500 stock index touched a six-year high on Thursday as higher-than-expected earnings from investment bank Bear Stearns Co. Inc. , retailer Costco Wholesale Corp.  and other companies improved the outlook for steady profit growth.
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ATLANTA -- SunTrust Banks Inc. said Monday that it expects to restate earnings higher for the first and second quarters of 2004 due to changes in loan loss allowances, and plans to delay its third-quarter
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The Securities and Exchange Commission is months away from deciding whether Washington mortgage giant Fannie Mae will need to restate its earnings in the aftermath of a sharply critical report on its accounting practices, according to government and company officials.
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WASHINGTON Sept. 30, 2004 - Mortgage giant Fannie Mae, under investigation by regulators and ordered to revamp its accounting, may have to restate its past earnings, a federal agency said Thursday.
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Whether mortgage finance giant  Fannie Mae FNM.N will have to restate its earnings as a  result of accounting problems cited by regulators will be up to  the Securities and Exchange Commission to consider, a company  executive said on Tuesday.
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MCLEAN, VA. -- MCI lost $3.4 billion in the third quarter, due to a previously announced asset writedown of $3.5 billion, but its core operating results were better than expected.
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Mortgage giant Fannie Mae, under investigation by regulators and ordered to revamp its accounting, may have to restate its past earnings, a federal agency said Thursday.
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WASHINGTON -- The Securities and Exchange Commission's top accountant told mortgage funding giant Fannie Mae last night that it should correct its past accounting, a directive that could erase 38 percent of the profit the government-sponsored company has claimed since 2001.
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FRANKFURT Deutsche Bank said Friday that third quarter net income rose a better-than-expected 18 percent from a year earlier, to â¬680 million, helped by the sale of property in New York that was damaged by the Sept.
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The staff of the Securities and Exchange Commission has ordered Fannie Mae, the nation&#39;s largest buyer of mortgages, to restate its earnings over the last four years
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The company, which closed a $5.6 billion deal to buy Dow Jones & Company in December, said quarterly profit increased to $832 million, or 27 cents a share.
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The SEC ha ruled that Fannie Mae is guilty of violating the accounting standards and needs to restate its earnings for the past four years.
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SLM Corp. , better known as  Sallie Mae, said on Thursday it restated nearly three years of  financial statements because of several errors in its statement  of cash flows.
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Confidence in Fannie Mae debt rose after a management shake-up on Tuesday triggered by accounting errors and an enormous earnings restatement mandated by regulators, investors and analysts said on Wednesday.
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Fannie Mae has been ordered to restate its earnings for the past four years after an investigation by the Securities and Exchange Commission into the mortgage finance company&#39;s accounting practices.