| ||||||||||||||||||||||
| ||||||||||||||||||||||
Entries tagged "Countrywide Financial"PennyMac plans $750M IPOPennyMac Mortgage, a REIT headed by former Countrywide Financial president Stanford Kurland, is planning to raise $750 million even though Kurland is named in several lawsuits. BofA spends $8.4B on Countrywide litigationBank of America Corp.'s steal of a deal for Countrywide Financial Corp. is getting more and more expensive. The Charlotte, N.C., bank announced that it will spend $8.4 billion to provide relief to 400,000 Countrywide customers as a settlement of lawsuits in 11 states including California, Illinois and Florida. ... BofA CEO says Countrywide add will translate to profitsBank of America Corp. chief executive Ken Lewis told the Los Angeles Times Thursday that he believes Countrywide Financial Corp.'s misery was overblown and there's certainly value in the company. How much value? Lewis said that his company will immediately show a profit because the Charlotte, N.C.-based bank paid so little for the Pasadena, Calif., lender. ... BofA-Countywide merger to eliminate 7,500When Bank of America Corp. made an offer for Countrywide Financial Corp., the largest mortgage company in the U.S., it was only a matter of time before the ax would fall on personnel.... IndyMac still sees future driving soloIndyMac Bancorp is unwilling to give up the driver's seat, seeing a future driving solo, despite a company forecast that there will be no profit in 2008. But in these trying times, one has to wonder whether IndyMac can really hold out and weather this economic storm alone.... Schumer thinks the price is not right for BofAAnalysts have declared that Bank of America Corp. should reduce its offer for Countrywide Financial Corp. considering the target's declining earnings and worsening balance sheet. Now, Sen. Chuck Schumer, D-N.Y., has joined the bandwagon as well, calling for the acquirer to lower its bid. ... Let's not make a dealThe M&A bandwagon hit a deep ditch Monday as Microsoft Corp. [MSFT] pulled the plug on its bid for Yahoo! Inc. [YHOO] while experts are predicting that Bank of America Corp.'s bid for Countrywide Financial Corp. may be headed in the same direction. The failed deal and prospects of more M&A disappointment weighed down the markets. Overall, the Dow closed down 88.66, or .68%, to 12,969.54, while the Nasdaq slipped 12.87, or .52%, to 2464.12. Here's a closer look of the performance of Deal Stocks in Monday trading:... Countrywide's creditworthiness is shrinkingCredit rating agency Fitch Ratings gave a hint Monday that it may downgrade Countrywide Financial Corp.'s ratings by placing the mortgage lender on its rating watch evolving list. The move follows Standard & Poor's May 2 downgrade of Countrywide. Both rating agencies initiated their moves because Bank of America Corp. filed an amended S-4 on May 1, which opens the possibility that any remaining Countrywide debt could remain obligations of the mortgage lender.... The death of Microsoft-Yahoo! attracts the bearsBreaking up is hard to do, especially when there's billions of dollars involved. Ask shareholders of Yahoo! Inc. [YHOO] who are fleeing the stock after Microsoft Corp. [MSFT] withdrew its $5 billion offer. The Sunnyvale, Calif.-based company is down $4.08, or 14.23%, to $24.59, making it the No. 3 decliner overall on the Nasdaq in Monday midday trading. The parting of ways between the two tech titans set a negative tone for Monday trading as the Dow is trading down 88.01, or 0.67% to 12,970.19, while the Nasdaq declined 12.10, or .45% to 2,475.86. ... Deal Digest: May 5, 2008Stay tuned to TheDeal.com for updates to these stories and more. Microsoft Inc.- Yahoo Corp.Microsoft Corp. said Saturday it would end its quest to acquire Yahoo! Inc., sending Yahoo! shares tumbling 17% to $23.92 on Monday. The news came after Microsoft had reportedly raised its offer to $33 a share, valuing the deal at $47.5 billion. In a letter Saturday to Yahoo! CEO Jerry Yang, Microsoft's CEO Steven A. Ballmer said, "Despite our best efforts, including raising our bid by roughly $5 billion, Yahoo! has not moved toward accepting our offer. "After careful consideration, we believe the economics demanded by... Deal Stocks run with the bullsThe bulls ran out of the gates lifting Deal Stocks involved with the financial and real estate sectors following the Federal Reserve's announcement it will inject $200 billion in loans in an attempt to spur liquidity in the system. Bank of America Inc. [BAC], Countrywide Financial Corp. [CFC], Commerce Bancorp Inc. [CBH] and American Financial Realty Trust [AFG] all moved into the green. Overall, the Dow jumped 205.81, or 1.75% to 11,945.96 in midday trading, and the Nasdaq increased 41.16, or 1.90% to 2,210.50.... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Countrywide Financial." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
 Deal Video
    Community
 Elsewhere on The Deal.comDealwatch
The Deal MagazineCorporate Dealmaker
The Deal VideoCategories
Blog roll
Archives
| ||||||||||||||||||||||
| ||||||||||||||||||||||
