Movers: Countrywide, Amgen, KKR Financial, Applied Materials, Macy's
Countrywide Financial (CFC) is down sharply on an unconfirmed report the company is unable to borrow money from the commercial paper market. Merrill Lynch downgraded the stock to sell from buy and raised the possibility of bancruptcy. Yesterday, Countrywide reported mortgage funding volume of $39 billion for July 2007, down 14% from June.
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