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Wachovia Plunges After Warning of Shortfall
Updated from 11:38 a.m. EDT
Shares of Wachovia(WB Quote) plunged Thursday after the Southeast regional banking company said its revenue and earnings growth would fall short of Wall Street's forecasts.
Citing rising interest rates, the Winston-Salem, N.C.-based company said growth was slower than analysts had predicted in its capital markets, mortgage and investment businesses. Lending margins have been "modestly reduced." ...
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