( FMT) was in the news again Wednesday, soaring more than 14% after announcing it will
sell about $4 billion of its subprime loans, and that it has already received about $950 million in cash to that effect. The loans are being sold at a discount and will ultimately result in pretax loss of about $140 million. But shares were adding $1.27 to $10.05.
climbed on two pieces of news. The brokerage giant
smashed Wall Street expectations for the quarter ended Feb. 28, posting income from continuing operations of $2.56 billion, or $2.40 a share. Analysts polled by Thomson Financial were seeking $1.88 a share.
In addition, a Florida appeals court reversed a $1.58 billion verdict against Morgan Stanley from a 2003 breach-of-contract suit. Shares were rising $3.21, or 4.2%, to $79.32.
was higher after the e-commerce firm said it struck a deal for rights to credit-card technology firm PrivaSys' portfolio of patents. Financial terms weren't disclosed. First Data shares were gaining 32 cents, or 1.3%, to $25.51.