Movers: Wachovia, Fannie Mae, Priceline.com, Merck
Wachovia (WB) says in an 8-K filing that says due to October market deterioration, ABS CDOs in its portfolio experienced further declines in value in October by an amount it estimates to be about $1.1 billion pretax. Separately, expects to record loan loss provision in the fourth quarter by $500-$600 million in excess of charge-offs for the fourth quarter.
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