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New Century Plunges

Stock quotes in this article: NEW  

Updated from Feb. 7

New Century Financial (NEW Quote) sank 24% early Thursday after warning of an unexpected fourth-quarter loss.

The Irvine, Calif., subprime lender cited "the increasing industry trend of early-payment defaults." New Century expects to post a fourth-quarter loss, where Wall Street analysts were looking for a profit of $1.08 a share. ...

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