Investment-blog.net: Stocks, Emerging markets, Bonds, Currencies and Commodities

Merrill Lynch: Countrywide Losses Likely $10B-$12B -CNBC

Last Update: 6/4/2008 10:05:12 AM

DOW JONES NEWSWIRES

Merrill Lynch & Co (MER) said Countrywide Financial Corp.’s (CFC) cumulative
losses are likely to rise to between $10 billion to $12 billion, CNBC reported
Wednesday. The losses will force similar mark-to-market writedowns for buyer Bank
of America Corp. (BAC), said Merrill. Merrill Lynch kept its rating of Bank of
America’s stock at underperform and cut the price target to $27 from $28. Full
story at www.cnbc.com/id/24961918

Did you like this? If so, please bookmark it,

about it, and subscribe to the blog RSS feed.

Possibly Related Posts:

• Pearl River Delta repositioned as China’s “reform test field”
• The number that scares me the most is the number we can’t get.
• “Lyin’ Bankers, Meet Mathematics” By Karl Denninger
• Citing quarterly real housing prices (adjusted for inflation 1975-2008) here:
• Why Crude Oil Prices will Decline

Did you like this? If so, please bookmark it, about it, and subscribe to the blog RSS feed.

Technorati Tags: Bac, Bank Of America, Bank Of America Corp, Cfc, Cnbc, Countrywide Financial, Countrywide Financial Corp, Dow Jones, Dow Jones Newswires, Losses, Mer, Merrill Lynch, Merrill Lynch Co, Price Target, Stock