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From the Blogosphere
Unusual 11 Mid-Day Movers 7/8: ABK, ARTE, ERII, ALTI Higher; IMB, ODP, VMW, IDCC Lower
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StreetInsider.com Unusual 11 Mid-Day Movers:IndyMac Bancorp (NYSE: IMB) 43% LOWER; said it won't accept new loan submisson, hasn't been succesful in raising added capital. Regulators says firm no longer 'well-capitalized."Office Depot, Inc. (NYSE: ODP) 33% LOWER; As a result of additional pressure from weakening business conditions in Q2, North American Retail comparables fell 10% versus the prior year and total sales were down slightly. Office Depot anticipates its EBIT margin to have declined for Q2 by 200 basis points more than the 200-250 bps decline previously indicated on a year-over-...
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IndyMac (IMB) turns to stone
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Filed under: Major movement, Other issues, Press releases, Products and services, Management, Rants and raves, Market matters, IndyMac Bancorp (IMB), Recession  No more home mortgages for the time being. The former number two originator of home mortgages in the United States, IndyMac Bancorp (NYSE: IMB), is shutting down its operations and laying off 3800 workers, more than half of its employees.
By halting its prime business, IMB might as well have announced they have turned to stone, as it seems its financial situation is frozen for the time being. Last quarter it announced continued losses ...
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Pre-market movers (BRCL) (ODP)
Syntax-Brillian Corp (NASDAQ:BRLC) is off 70% as it declares Chapter 11. Office Depot (NYSE:ODP) is off almost 10% on poor same-store sales. IndyMac (NYSE:IMB) is off oer 30% on news that it may not have enough capital. Lundin Mining (NYSE:LMC) is down 4% on the falling price of metals. Stocks may trade differently in the pre-market than they do in the regular session. <>Read | Read | Read | Read | Permalink | Email this | Comments
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IndyMac (IMB) stops accepting loan applications and announces job cuts
Profit from fantastic four, southwest secrets to success & behind the booze brands - Today in Money 7/8
Filed under: Home Depot (HD), Berkshire Hathaway (BRK.A), India, China, Brazil, Russia, Penney (J.C.) (JCP), Money and Finance Today, Sears Holdings (SHLD), Federal Natl Mtge (FNM), Lowe's Cos (LOW), Office Depot (ODP), Southwest Airlines (LUV), IndyMac Bancorp (IMB) In the News: <>· <>Texas Oilman T. Boone Pickens Wants to Replac...
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