IN BRIEF.VALLEY INDEX RISES: Stocks in the Daily News/Bloomberg Index rose 1.29 to 124.58 Thursday Thursday: see week. , led by Camarillo-based Vitesse Semiconductor Corp. and Calabasas-based Countrywide coun·try·wide adv. & adj. Throughout a whole country; nationwide: launched a fundraising campaign countrywide; a countrywide search. Adj. 1. Credit Inc. Vitesse rose 2 31/32 to 47 3/32. Countrywide rose 2 9/16 to 41 1/16. ?13- Bloomberg Bloomberg A major global provider of 24-hour financial news and information including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. News COUNTRYWIDE HITS ALL-TIME HIGH: Shares of Calabasas-based Countrywide Credit Industries hitan all-time high Wednesday as bond yields hit a 21-month low, fueling optimism that mortgage lending will pick up as interest rates decline. In addition, there is speculation on Wall Street that the lender could be acquired. The Countrywide takeover speculation follows two large independent mortgage bank acquisitions in recent months. Shares of the home-loan specialist rose $2.56 to $41.06 and are now up 43 percent from the last trade of 1996 at $28.625. ?13- Daily News NEWHALL GRANTS OPTIONS TO EXECUTIVES: The Newhall Land & Farming Company, a Valencia-based real estate developer, granted options totaling 2.45 million units to its top six executives. The options are tied to price performance of its partnership units. This premium price program replaces market-priced options granted to the six over the next three years. ?13- Daily News WAMU WAMU Washington Mutual WAMU West African Monetary Union COMBINES MUTUAL FUNDS: Washington Mutual “WaMu” redirects here. For the Washington, DC radio station, see WAMU. Washington Mutual (or WaMu; NYSE: WM) is the United States' largest savings and loan association. Inc. said it plans to combine its Composite mutual fund family with Great Western Financial Corp.'s Sierra funds to create a fund group with about $5 billion in assets. The proposal, which needs approval from fund shareholders, comes about four months after Washington Mutual completed its $8 billion acquisition of Chatsworth-based Great Western to become the largest U.S. savings and loan savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. . |
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