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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (112388)	7/12/2001 4:38:28 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

UFB! CNBS directly LIED about this report around 2pm EST: dailynews.yahoo.com Net income in the second quarter rose to $380.1 million, or 43 cents per share, from $285.4 million, or 34 cents per share, in the same period a year earlier, MBNA said. Wall Street on average had expected earnings of 41 to 43 cents per share, with a mean estimate of 42 cents, according to research firm Thomson Financial/First Call. HINT OF CONCERN But a ribbon of worrying news laced MBNA's overall robust report, analysts said. ``You have got to give them credit. It was solid given everything going on in terms of higher delinquencies and losses,'' said Joel Houck, an analyst with A.G. Edwards & Sons. ``But the acceleration in loss rate is concerning.'' MBNA's credit losses have been accelerating for the past three quarters, climbing from 3.87 in the fourth quarter of 2000 to 4.35 in the first quarter then to 4.82 in the second quarter. Someone (Maria or Pissanti, I believe) said that MBNA's credit losses were DOWN, prompting a big move by credit card trash companies. At the time, I thought that maybe their prime lending base was what accounted for it. UFB!