Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

CFC- I don't see how they did it but they did.

DJ Countrywide Fincl Outlook -2: Street Sees '03 EPS $13.99

CALABASAS, Calif. (Dow Jones)--Countrywide Financial Corp. (CFC) again raised its 2003 earnings forecast, this time to more than $15 a share.

In July, the mortgage banking company projected 2003 earnings of $13 to $15 a share, up from its initial guidance given in April for earnings of $10 to $11 a share. Thomson First Call's average analyst estimate currently calls for full-year earnings of $13.99 a share.

A Countrywide representative wasn't immediately available to provide a reason for the raised guidance.

In a press release Friday, Countrywide said it will provide more detail on its 2003 forecast on Oct. 23, when it releases its third-quarter results. The company also expects to provide outlook for 2004 at that time.

In 2002, Countrywide earned $6.49 a share on $4.52 billion in revenue.

Shares of Countrywide recently traded at $92, up $6.26, or 7.3%, on composite volume of 5.7 million shares - more than twice its daily average of 2.4 million shares.

The heavy share trading may be partially attributed to a positive analyst research note earlier Friday that speculated Countrywide might be an acquisition target, Dow Jones Newswires reported earlier.