Countrywide shares rally on Bank of America's investment, upgrade

4:05 pm ET Aug 23, 2007

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Countrywide shares rally on Bank of America's investment, upgrade

NEW YORK
Shares of Countrywide Financial Corp. finished slightly higher Thursday
after rising as much as 7% in early trading, as investors applauded Bank
of America Corp.'s move to invest $2 billion in the troubled mortgage
giant and as Countrywide shares got an upgrade.

Bond Report: Treasury yields end lower after Countrywide CEO drops 'r'
word

NEW YORK
U.S. Treasury prices on Thursday closed higher, with yields tracking the
stock market's downward trend, as credit worries returned amid renewed
debate over whether the Federal Reserve would cut interest rates ahead
of a meeting next month.

London Markets: FTSE 100 closes flat; Northern Rock's shares rally

LONDON
The FTSE 100 index couldn't sustain earlier gains Thursday, ending
virtually flat as investors took note of stocks trading lower on Wall
Street, but a move higher in shares of Northern Rock made the U.K.
home-loan provider a standout.

Top sales official at AMD steps down

SAN FRANCISCO
The top salesman for Advanced Micro Devices Inc. is headed for the exit
as the world's No. 2 microprocessor maker is set to release a
long-awaited product the company hopes will reduce growing losses and
revive its sales.