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The major indexes recorded heavy losses today, after a rosy opening. Countrywide Financial led the downside, as traders laid heavy bets on bankruptcy rumors.
Countrywide Financial (CFC | Quote | Chart | News | PowerRating) plummeted 28.4% during today's session on negative reactions to a NYT piece about the country's largest mortgage lender.
Microsoft (MSFT | Quote | Chart | News | PowerRating) fell 3.0% after announcing plans to buy Norweigian software developer Fast Search & Transfer for $1.2 billion (full story).
Bear Stearns (BSC | Quote | Chart | News | PowerRating) fell 6.5% on reports that CEO James Cayne would step down to become a chairman following massive subprime losses and falling stock prices (full story).
Starbucks (SBUX | Quote | Chart | News | PowerRating) rallied 8.0% after a new CEO was named after the company posted its worst annual drop in stock price (full story).
KB Home (KBH | Quote | Chart | News | PowerRating) dropped 7.0% after announcing Q4 losses of $773 million (full story).
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