November 16, 2001
Aames Financial shares began trading on the over-the-counter Bulletin Board, after the Los Angeles-based lender was delisted by the New York Stock Exchange. Its shares plunged to 25 cents, down 21 cents. Apex Mortgage Capital Inc., an investor in mortgage securities, filed to sell 2.7 million common shares to raise cash for its business. Apex stock rose 10 cents to close at $10.45 on the American Stock Exchange.
October 26, 1999 |
Aames Financial Corp. said its board appointed financial services veteran A. Jay Meyerson as chief executive of the subprime home-equity lender. "The appointment of Jay is the last phase of a management transition plan that ensured a seamless and orderly succession," said Mani Sadeghi, an Aames director who has been acting as interim chief executive since May. Meyerson, 52, most recently served as a managing director at KPMG national financial services' consulting practice.
February 23, 1999
Other earnings, excluding one-time gains and charges unless noted: * Home improvement retailer Lowe's Cos. said its earnings jumped a better-than-expected 48% in the fiscal fourth quarter to $106.2 million, or 30 cents a share, 3 cents higher than forecasts. Sales at stores open at least a year grew 8.2%, and total revenue jumped 22% to $2.92 billion. * Nordstrom Inc. said fiscal fourth-quarter profit rose 13% to $66.
January 7, 1999 |
In what Labor Secretary Alexis M. Herman heralded Wednesday as a "wake-up call" for employers, Texaco Inc. agreed to pay $3.1 million to 186 female managers who earned less than men doing similar work. The agreement set a record for Labor Department "glass ceiling" investigations involving sexual discrimination, although it is smaller than some other recent landmark cases, including a $176-million settlement that White Plains, N.Y.
December 25, 1998 |
* Aames Financial Corp. (ticker: AAM; Thursday close: $2.56, up 6 cents) was raised to "hold" from "sell" by Prudential Securities and Sutro & Co. * Ameritrade Holding Corp. (AMTD; $29, down $3.13) was cut to "hold" from "buy" by Deutsche Bank Securities. * Biogen Inc. (BGEN; $79.31, down 50 cents) raised to "strong buy" from "outperform" by Morgan Stanley Dean Witter and rated "buy" in new coverage by BancBoston Robertson Stephens.
December 24, 1998 |
Capital Z Financial Services Fund II, a private equity fund, said Wednesday it has agreed to pay as much as $100 million to take a controlling stake in Los Angeles-based Aames Financial Corp., a home equity lender. Aames, which bundles loans and sells them to investors, was hurt this year as falling currencies in emerging markets and Russia's default led investors to flee high-risk bonds for safer U.S. Treasury bonds. Aames Chief Executive Cary H.