Matthew Lickona 11:13 a.m., May 24
Countrywide Stock Zooms 55 Percent on Rumor B of A Will Buy It
Stock of Countrywide Financial, the nation's largest mortgage operation, shot up 55 percent today (Jan.10) to almost $8 a share on the Wall St. Journal's report that Bank of America is negotiating to buy the ailing company. Earlier in the week, Countrywide stock plunged on rumors of a looming bankruptcy. As reported in two earlier posts, the University of San Diego is bring in Countrywide's controversial chief executive later this month for a major real estate conference, and some people are protesting the move.