<< Read Full Article

MBNA Hit by Customer Paydowns

Stock quotes in this article: KRB , DRL  

Updated from 10:59 a.m. EDT

Shares of credit card giant MBNA(KRB Quote) were getting squeezed in Thursday trading, after the company announced a 94% decline in first-quarter profits and offered a dismal earnings outlook for the rest of the year.

The Delaware-based card company's stock plunged $3.70, or 16%, to $19.41.

In the quarter, MBNA said profits fell to $31.7 million, or 2 cents a share, down from $519.7 million, or 4 cents a share, as the result of a $767 million pretax restructuring charge. ...

<< Read Full Article

Recent Comments

Loading .....




Dow Jones S&P 500 NASDAQ 10-Year Note
10,309.92 1,091.49 2,138.44 32.31
Oil *
77.12
DOWN
154.48
DOWN
19.14
DOWN
37.61
DOWN
0.48
10 Yr
3.23%
SPDR Gold
115.06
-1.48%
-1.72%
-1.73%
-1.46%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services