Mortgage and Financial News From 2007-12-19 Page 9

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  • U.S. Stocks Rise for a 2nd Day; Exxon, Morgan Stanley Gain

    Bloomberg - Dec. 19 (Bloomberg) -- U.S. stocks rose for a second day, led by energy producers and financial firms, after oil climbed ... cut its debt outlook on the bond insurer because of ``worsening expectations'' for securities backed by subprime mortgages ...
    2007-12-19 12:44:00

  • Stocks Close Mixed In Choppy Session

    CNBC - ... but from a perception standpoint if we don't see additional liquidity, the market will jerk down again." Morgan Stanley earnings were the other big story of the day, with the second-largest investment bank showing huge losses from subprime mortgages ...
    2007-12-19 01:56:00

  • Bear Stearns Hedge Fund Manager Departs Amid Probes (Update5)

    Bloomberg - She declined to say why he exited the company, the second-biggest underwriter of bonds backed by mortgages, or comment on the federal probe. Cioffi declined to comment on his departure. He stayed on as an adviser after being relieved of ...
    2007-12-19 01:42:00

  • Canada Pension Bought C$6 Billion in Commercial Paper (Update1) (Bloomberg.com)

    Dec. 19 (Bloomberg) -- Canada Pension Plan Investment Board, the country's second-biggest pension-plan manager, bought about C$6 billion ($6 billion) of commercial paper after prices for the debt in Canada plunged in August.
    2007-12-19 01:30:47

  • Oracle posts strong gains, alleviating investor concern (Market Watch)

    Business software maker Oracle Corp. on Wednesday posted a 35% gain in second-quarter profit, topping Wall Street's expectations and alleviating the concerns of investors looking at the company as a gauge of the broader tech market's health.
    2007-12-19 02:19:32

  • Bear Stearns Hedge Fund Manager Departs Amid Probes (Update4) (Bloomberg.com)

    Dec. 19 (Bloomberg) -- Ralph Cioffi, the manager of Bear Stearns Cos. hedge funds that invested in subprime mortgages, left the firm as U.S. prosecutors examine whether he withdrew money from two funds before they collapsed in July.
    2007-12-19 09:13:03

  • U.S. Home Foreclosures Rise 68 Percent in November (Update2) (Bloomberg.com)

    Dec. 19 (Bloomberg) -- U.S. home foreclosures rose 68 percent in November from a year earlier and may surge in 2008 as adjustable-rate mortgages leave subprime borrowers unable to meet higher payments, according to data compiled by RealtyTrac Inc.
    2007-12-19 10:12:51

  • U.S. Stocks Fall, Led by Retailers, Railroads; Target Slumps (Bloomberg.com)

    Dec. 19 (Bloomberg) -- U.S. stocks fell for the second time this week, led by retailers and railroads, after a private report said holiday sales declined and Union Pacific Corp. cut its profit forecast on rising energy costs.
    2007-12-19 03:13:40

  • Bear Stearns Sued by Barclays Unit Over Fund Collapse (Update3) (Bloomberg.com)

    Dec. 19 (Bloomberg) -- Barclays PLC, the U.K.'s third- biggest bank, sued Bear Stearns Cos. over losses caused by the implosion earlier this year of a hedge fund that invested in subprime mortgages.
    2007-12-19 03:42:41

  • Foreclosures fall second time in 3 months: report (Reuters via Yahoo! News)

    Home foreclosure filings fell in November from October, though they may remain at elevated levels as rising payments on adjustable loans pressure borrowers, a real estate data company reported on Wednesday.
    2007-12-19 04:49:48

  • Morgan Stanley to Sell Stake to China Amid Loss (New York Times)

    Morgan Stanley posted its first quarterly loss after taking an additional $5.7 billion write-down related to subprime mortgages, and said it would sell a $5 billion stake to China?s sovereign wealth fund.
    2007-12-19 08:18:28

  • Morgan Stanley sells stake to China amid losses (Reuters via Yahoo! News)

    China agreed to pump $5 billion into Morgan Stanley as the U.S. investment bank reported a stunning fourth-quarter loss fueled by a bigger-than-expected $9.4 billion of write-downs in mortgages and other assets.
    2007-12-19 08:37:28

  • Fitch Upgrades 2 Classes of DLJ 1998-CG1

    Forbes - DLJ Commercial Mortgage Corp.'s commercial mortgage pass-through certificates, series 1998-CG1, are upgraded by Fitch ... Interest-only class S at 'AAA'; --$39.1 million class A-2 at 'AAA'; --$78.2 million class A-3 at 'AAA'; --$23.5 million ...
    2007-12-19 08:48:00

  • Northern Rock shares climb on rival's interest

    Times Online - ... Rock shares climb on rival's interest The beleaguered bank's shares rally on Bradford & Bingley's potential interest in some of its mortgage ... In September it reported that credit control on its loan book remained strong, with only 0.47 per cent of its ...
    2007-12-19 05:06:00

  • POLL-Japan firms keep 07/08 dollar/yen outlook unchanged

    Forbes - The U.S. economy will slow down due to the subprime mortgage issue and interest rates will be cut. We expect that the trend will be ... Only about 20 percent of respondents said they expect the dollar to be trading above 115 yen at the end of March. ...
    2007-12-19 03:36:00

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