Movers: Fannie Mae, Freddie Mac, Toll Brothers, Autodesk, Microsoft, NetFlix
Fannie Mae (FNM) and Freddie Mac (FRE) shares are higher on news that the Office of Federal Housing Enterprise Oversight will lift investment caps on March 1, and the 30% extra capital cushion may also be lifted. Earlier, Fannie Mae posts worse-than-than-expected $3.80 fourth quarter loss per share. It expects housing market weakness to continue in 2008, leading to increased delinquencies, defaults and foreclosures on mortgage loans, and slower growth in U.S. residential mortgage debt outstanding.
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