Countrywide's (CFC Quote) sanguine outlook helped lift the mood Friday, both in the financial sector and in the broader market.
Despite reporting a big third-quarter loss, the mortgage-lending giant catapulted nearly 23% after saying it will likely book a profit in the current quarter -- pegged at between 25 cents and 75 cents a share -- and in 2008, as well. Countrywide also kept its 15-cent dividend, contrary to some prior speculation that it would be suspended.
Its third-quarter loss totaled $1.2 billion, or $2.85 a share, vs. last year's per-share income of $1.03. Analysts were looking for a loss of $1.28 a share, less special items. Still, shares soared $2.96 to $16.03 to take back all of this week's massive losses and then some. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,285.97 | 1,091.93 | 2,172.99 | 33.92 |
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SPDR Gold
110.95
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