A $1.2 billion loss for Countrywide

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News item from Reuters via CNBC: ‘Countrywide Financial posted a $1.2 billion third-quarter loss Friday as the housing market slumped, but its shares soared after the largest U.S. mortgage lender projected a return to profit this quarter as it slashes jobs and regains its footing.’

More: ‘Shares of Countrywide

rose $2.87, or 22 percent, to $15.94 in pre-market trading. Stock futures also moved higher.’ Comments? Thoughts? E-mail story tips to lalandblog@yahoo.com.
Photo Credit: Los Angeles Times