Mortgage and Financial News From 2008-1-28 Page 41

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• Stocks climb on Fed rate-cut outlook (Seattle Times)

  A jittery Wall Street advanced today, reversing some of Friday's sharp losses as investors took a dismal new-home sales report as a sign...
  2008-01-28 01:58:20

• U.S. Stocks Recover After Sell-Off Abroad (NYTimes.com via Yahoo! Finance)

  An early tumble gave way to afternoon gains on Wall Street, as U.S. investors shrugged off heavy losses in the Asian markets and sent stocks steadily up in anticipation of a Fed rate cut.
  2008-01-28 01:41:00

• Wall Street rallies on hope for Fed rate cut (Reuters)

  NEW YORK (Reuters) - Stocks surged on Monday as investors snapped up shares of manufacturers and downtrodden banks after more weak housing data bolstered expectations the Federal Reserve will slash rates this week.
  2008-01-28 01:58:45

• American Express Full-Year EPS from Continuing Operations Rises 16%; Fourth-Quarter Earnings in Line with ... (Centre Daily Times)

  American Express Company (NYSE: AXP) today reported fourth-quarter income from continuing operations(1) of $839 million, down 6 percent from $895 million a year ago.
  2008-01-28 01:43:41

• Defense Rests In Snipes' Tax Fraud Trial (NBC 5 Chicago)

  The defense unexpectedly rests in the tax fraud trial of actor Wesley Snipes.
  2008-01-28 01:58:58

• Rioting is just a symptomof Lebanon's societal illness (The Daily Star Lebannon)

  One of the only certainties regarding Sunday night's bloodshed in Beirut's southern suburbs is that Lebanon is infected with a culture of impunity, the economic, political and social equivalent of HIV, the virus that causes AIDS.When HIV causes a patient to develop what is known as "full-blown" AIDS.
  2008-01-28 01:44:36

• Green Bankshares Reports Fourth Quarter and Year-End 2007 Results (wallstreet:online AG)

  Green Bankshares, Inc. (6027;NASDAQ:GRNB) today announced results for the fourth quarter and year ended
  2008-01-28 01:49:41

• Gold prices to soar to US$1,500 an ounce, says NBF (Investment Executive)

  National Bank Financial is predicting the return of gold as a safe haven investment, and, as a result, it suggests the price on the commodity will rise to US$1,5000 per ounce.
  2008-01-28 01:51:37

• Premium Waikato dairy farm set for record price (Scoop.co.nz)

  29 January 2008: With milksolid payouts at premium levels, a high-performing 538 hectare dairy farm near Huntly in North Waikato that is being marketed exclusively by Harcourts is well placed to achieve a record price.
  2008-01-28 01:51:54

• 3 On Your Side: Managing Your Money (CBS 3 Philadelphia)

  Are you drowning in debt and don't know what to do? Help is on the way. All this week, 3 On Your Side is helping you manage your money.
  2008-01-28 01:58:06

• Nara Bancorp Reports $0.32 Earnings Per Diluted Share for Fourth Quarter 2007 (Centre Daily Times)

  Nara Bancorp, Inc. (the "Company") (NASDAQ: NARA), the holding company of Nara Bank (the "Bank"), reported net income of $8.3 million, or $0.32 per diluted share, for fourth quarter 2007, compared to $9.4 million, or $0.35 per diluted share, for fourth quarter 2006.
  2008-01-28 01:58:14

• East West Bancorp Reports Record Earnings for 11th Consecutive Year; Fourth Quarter 2007 Earnings of $37.2 Million (Centre Daily Times)

  East West Bancorp, Inc. (Nasdaq: EWBC), parent company of East West Bank, one of the nation's premier community banks, today reported financial results for the fourth quarter and full year 2007. Diluted earnings per share for the full year grew to a record $2.60, an increase of 11% from $2.35 in 2006. Net income for 2007 was a record $161.2 million, or a 12% increase from $143.4 million in 2006. ...
  2008-01-28 01:58:24

• US Stocks Tilt Lower After Global Selloff

  Associated Press - Troubled mortgage lender Countrywide Financial Corp. is back in the news. Chairman and chief executive Angelo Mozilo is going to forfeit $37.5 million in pay and benefits. Mozilo was widely criticized for collecting massive pay at a time when ...
  2008-01-28 05:09:00

• Countrywide's Mozilo to give up $37.5 mln payoff

  Marketwatch - The Calabasas, Calif. lender said Mozilo is giving up cash severance payments, post-closing consulting fees and continued perquisites that he was owed in connection with the mortgage lender's takeover by Bank of America ( BAC : ...
  2008-01-28 05:59:00

• Countrywide: Results Nothing to Call About

  Street.Com - The nation's largest independent mortgage lender has been plagued by writedowns on loans that the company could not sell, as well as rising credit losses as home prices fell and borrower defaults rose. As the markets for mortgage-backed securities ...
  2008-01-28 12:18:00

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