Sunday, June 22, 2008

Corp. News

Old (but important) trading news:

1. Wells Fargo (WFC) extended their original 120-day mortgage default period to 180-day on April 1, 2008. WFC is not the only one adopting this strategy to mitigate mortgage problem. The tatic would be help in July's release of their Q2 report.

2. Ambac (ABK) retreat credit rating from Fitch. ABK says their would focus more on operation than on rating.

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