| Zacks Bull and Bear of the Day Highlights: Smith International ...
CHICAGO-(Business Wire)-April 4, 2007 - Zacks Equity Research highlights Smith International (NYSE: SII) as the Bull of the Day and Atmel Corporation (Nasdaq: ATML) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Archstone-Smith Trust (NYSE: ASN) and Intevac, Inc. (Nasdaq: IVAC). Full analysis of all four stocks is available at http://at.zacks.com/?id=2676. .
Up to 300 lose their jobs at area mortgage company
In another indicator of the turbulence buffeting the subprime mortgage industry, as many as 300 Sacramento-area Ameriquest Mortgage Co. employees were issued pink slips Thursday. A spokesman for Ameriquest's parent company, ACC Capital Holdings, would not say how many jobs were eliminated at its Rancho Cordova office, but several employees estimated between 250 and 300 were employed at the Mather Field location. In a press release Thursday that announced unspecified layoffs across the country, the company, based in the Orange County city of Orange, said local loan operations would be folded into the company's Southern California offices. .
Nationwide offers 25-year fixed-rate deal
Nationwide Building Society has become the first of the major mortgage lenders to offer customers a 25-year fixed-rate homeloan. The move comes amid predications of further interest rate rises, prompting a surge of consumer demand for 'locking in' rates. Research from the Council of Mortgage Lenders suggests that around 75% of first-time buyers and 70% of home movers are opting for fixed-rate products. Nationwide's 25-year fixed is not the first on the market - other smaller mortgage lenders such as the Cheshire Building Society offer similar deals. But the announcement, coming from the UK's largest building society, does indicate lenders are increasingly prepared to offer consumers longer fixed terms in the face of growing demand. .
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