Familiar Worries Rock Major Indexes
The major indexes recorded heavy losses today, after a rosy opening.
Countrywide Financial led the downside, as traders laid heavy bets on bankruptcy
rumors.
Countrywide Financial
(
CFC |
Quote |
Chart |
News |
PowerRating) plummeted 28.4% during today’s session on
negative reactions to a NYT piece about the country’s largest mortgage lender.
Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating) fell 3.0% after announcing plans to buy Norweigian software developer Fast Search & Transfer for $1.2 billion (full
story).
Bear Stearns
(
BSC |
Quote |
Chart |
News |
PowerRating) fell 6.5% on reports that CEO James Cayne would
step down to become a chairman following massive subprime losses and falling
stock prices (full
story).
Starbucks
(
SBUX |
Quote |
Chart |
News |
PowerRating) rallied 8.0% after a new CEO was named
after the company posted its worst annual drop in stock price (full
story).
KB Home
(
KBH |
Quote |
Chart |
News |
PowerRating) dropped 7.0% after announcing Q4 losses of $773
million (full
story).
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