New Century Financial
, which has had a volatile trading week, was plunging again Thursday, losing some 30% of its value after David Einhorn of hedge fund Greenlight Capital
resigned from the subprime lender's board of directors. Greenlight currently owns around 6.3% of the company. New Century shares were losing $1.58 to $3.58.
sank after the transaction processor said it will sell about 6.4 million newly minted shares at $25 apiece to institutional investors. Shares were off 76 cents, or 2.8%, to $26.35.
( CRMH) posted rising fourth-quarter earnings that bested Wall Street targets. The Bermuda-based insurer had a profit of $4.2 million, or 26 cents a share, compared with $2 million, or 18 cents a share, a year ago. Analysts polled by Thomson Financial were seeking 23 cents a share. The stock was up 76 cents, or 9.5%, to $8.76.
and other real estate investment trusts racked up gains after a Merrill Lynch analyst said the recent REIT pullback "has created an attractive entry point for several high-quality blue-chip stocks," and upgraded these to buy from neutral, along with several others. ProLogis shares were adding $2.18, or 3.5%, to $65.19. Corporate Office was up $1.92, or 4%, to $49.68.