The week ends with a closer look into the mortgage and housing market, with Countrywide Financial and Brookfield Homesboth among those reporting their results.
Countrywide, which is being investigated by the Securities and Exchange Commission for possible connections to the subprime fall-out and for stock sales by its chief executive, is expected to swing to a loss of $1.05 a share on revenue of $254 million, according to Thomson Financial.
The nation’s largest mortgage lender has seen the total number of mortgage loans it has made or acquire plunge from year-ago levels. The decline in its business has forced it to shutter locations and lay off as much as 20% of its workforce.
Others reporting on Friday include oilfield services provider Baker Hughes, consumer products company Fortune Brands, and waste and environmental services provider Waste Management.