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

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To: Knighty Tin who wrote (197784)	10/16/2002 10:53:17 AM
From: Les H	Read Replies (3) of 436258

Saudi billionaire Alwaleed bin Talal, the biggest individual shareholder in Citigroup Inc., said critics of the world's biggest financial services company ``should now shut up'' after the company reported a 23 percent increase in third-quarter profit. Fannie Mae reported 3rd quarter earnings of $1.62 per share which was $0.05 better than the consensus. Revenues rose 0.5% to $2.99 billion versus the $2.77 billion consensus. FNM noted that 3rd quarter credit losses fell to an 18-year low. Fannie Mae reiterated its forecast that full year earnings growth will be above the long-term trend. Net income for the quarter ending September was $1.63 billion, or $1.62 per share, up from $1.38 billion, or $1.33 a share in the year earlier period. Looking ahead, the home mortgage financing company said making precise earnings forecasts for 2003 is "difficult," due to rapid portfolio growth at wider-than-normal spreads and "substantially elevated" liquidation levels.

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