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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: reaper who wrote (191289)9/11/2002 8:36:58 PM
From: ild  Read Replies (1) of 436258
 
Capital One (COF) 41.16 +2.21: Charge-offs for COF's Master Trust increased 24 bps over July to 4.15% with delinquencies increasing 14 bps to 5.32%, in-line with mgmt's expectation for higher losses in Q3 and Q4 (due to lower recoveries and the seasoning of sub-prime accounts originated in the last 12 months) ... stock jumps close to 6% in response. Merrill Lynch views the rise in losses as more modest than might have been expected with the avg for the qtr thus far is 4.03%. Firm believes this suggests full qtr losses could be as low as 4.45% vs their est of 4.7% and maintains their Outperform rating and $54 price target; continues to believe that COF's stock represents excellent value at current prices.
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