Updated from 1:18 p.m. EDT
slipped after the investment manager said that preliminary assets under management at the end of August fell by roughly $3 billion, or 0.4%, from the end of July to $783 billion.
The company said weak non-U.S. investment returns were partially offset by net inflows, primarily in the private client group. AllianceBernstein closed down 1.6% at $79.12.
Lone Star extended its offer for mortgage company
Accredited Home Lenders
( LEND) until midnight on Sept. 14. As of the close of business on Sept. 11, Lone Star had received about 18.4 million Accredited shares, or 73.4% of the stock outstanding.
Shares of Accredited closed up 1.7% at $10.78.
is eliminating 1,000 workers in an effort to better deal with the downturn in the housing market, according to a published report. Shares closed up 0.9% at $35.56.
reported the news, and also said WaMu will merge its subprime lending business with its prime division. Additionally, the company plans to hire up to 1,000 mortgage loan consultants for its branches and home loan offices in the next few months, the report said.
Bank of America
has increased the surcharges for customers of other banks who use many of its ATMs. Users will now be hit with a $3 fee, up from $2.
About 10,700 of Bank of America's more than 17,000 ATMs made the change in the past two months, reports say. The new fees will be found mostly at machines located in financial centers and grocery stores. Bank of America's shares closed up 1% at $49.86.
priced its public offering of 13 million shares at $20 each, raising $260 million of gross proceeds. The business-development company granted the underwriters an option to purchase up to an additional 1.95 million shares to cover any overallotments.
Shares of Apollo Investment closed down 1% at $19.80.
( CFC) rose on word the home lender has arranged for $12 billion in additional secured borrowing through new or existing credit lines.
At the same time, though, Countrywide said loan fundings dropped 17% from a year ago in August, to $34 billion, and average daily mortgage loan applications fell 12% from a year earlier to $2.3 billion. Shares of Countrywide closed higher by 13.9% at $18.93.