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• Countrywide: Take the money and run?

  Posted Oct 26 2007, 10:13 AM by Matt Koppenheffer
  Rating:
  Filed under: CAPS, Countrywide, housing
  Money Blog: Top Stocks Blog - MSN Money

  Countrywide Financial may have lost $1.2 billion during its third quarter, but as we all know, Wall Street is always looking to the future. So what's in the cards for Countrywide going forward? According to Countrywide's President, profitability. He said that after swallowing its first quarterly loss in the past 25 years, Countrywide expects to be back in the black next quarter.
  
  Investors are going bananas over the projection for next quarter, and as of this writing the stock is up almost 17% on the day.
  
  Players on The Motley Fool's CAPS don't seem quite as convinced. At one star, the stock is at the bottom of the barrel as far as CAPS ratings go. The projections for next quarter didn't seem to help much -- 34 of the 47 new players to rate Countrywide today were bearish on the stock. One CAPS player, devoish, warned that he "[believes] there is more bad news coming beyond just today's layoffs and writedowns."   Read More...

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