Thursday, August 16, 2007

Great Moments in Stock Analysis

From The American Banker's Morning Scan:
Shares of the mortgage-market bellwether [Countrywide] fell 13% as a Merrill Lynch analyst downgraded the stock to "sell" and speculated that the company could possibly file for bankruptcy. The analyst, Kenneth Bruce, had reiterated a "buy" rating on the stock just a couple of days ago, but decided he had underestimated the company's risks.

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