Downey Seized, Sold to U.S. Bancorp as Mortgage Fallout Spreads
By Ari Levy and Finbarr Flynn
Nov. 22 (Bloomberg) — Seizure and sale of Downey Financial Corp. and two smaller lenders may cost the FDIC more than $2 billion as foreclosures rise and home prices extend declines in the worst housing slump since the Great Depression.
U.S. Bancorp [...]
US HOT STOCKS: Cypress Semi, Reliant Energy, Conexant
Last Update: 9/30/2008 10:18:14 AM
Among the companies whose shares are actively trading in Tuesday’s session are
Cypress Semiconductor Corp. (CY), Reliant Energy Inc. (RRI) and Conexant Systems
Inc. (CNXT).
Cypress Semiconductor ($5.26, $2.16, 69.68%) jumped as the company’s shares were
transferred to the S&P SmallCap 600 index from the S&P MidCap 400 [...]
BCB Bancorp Details Fannie, Freddie Exposure >BCBP
Last Update: 9/12/2008 3:59:46 PM
DOW JONES NEWSWIRES
BCB Bancorp Inc. (BCBP) said Friday that it expects to record a non-cash,
other-than-temporary impairment on its investments in Fannie Mae (FNM) and
Freddie Mac (FRE) preferred stock.
The Bayonne, N.J., bank holding company said in a regulatory filing that, at June
30, it had $3.01 million [...]
SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to
see active trade in Tuesday’s session are Alcoa Inc., Pepsi Bottling Group Inc.,
and Sealy Corp.
Alcoa (AA) is expected to report second-quarter earnings of 66 cents a share,
according to analysts surveyed by FactSet Research.
Pepsi Bottling Group (PBG) is forecast to post earnings of 75 cents [...]
Posted by Heidi N. Moore
Note to U.S. banks: Get your bailouts while they are hot. There are a heck of a
lot of people scrambling for a piece of that pie.
“We can conclude that the financial services sector is ripe to receive capital,”
wrote Keefe Bruyette & Woods analyst Melissa Roberts on Friday. That [...]
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