Countrywide Financial stock falls 29 percent

NATION

Countrywide Financial stock falls 29 percent

LOS ANGELES — Shares of Countrywide Financial Corp., the nation’s largest mortgage lender, plunged Tuesday after the company denied rumors that it was planning to file for bankruptcy protection.

The stock fell $2.18, or more than 29 percent, to $5.46 after sinking to a 52-week low of $5.05.

In a prepared statement earlier in the day, the company said there was “no substance to the rumor that Countrywide is planning to file for bankruptcy, and we are not aware of any basis for the rumor that any of the major rating agencies are contemplating negative action relative to the company.”

AT&T shares fall
5 percent to $38.99

NEW YORK — AT&T Inc.’s shares tumbled Tuesday afternoon after Chairman and Chief Executive Randall Stephenson said the telecom carrier is experiencing some slowdown in its consumer business segments.

Speaking at Citi’s Entertainment, Media and Telecom Conference, Stephenson said the bulk of the weakness is coming from service disconnections due to nonpayment of its access lines and home broadband services.

AT&T’s shares fell $2.04, or 5 percent, to $38.99. In the past 52 weeks, the stock has traded between $33.20 and $42.97.

Associated Press