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Earnings roundup: Fannie Mae posts $29B loss as mortgage defaults rise, EchoStar loss swells

November 10, 2008 - 10:47 a.m.

(AP) - Among the earnings stories for Monday, Nov. 10, from AP Financial News:

Top stories:

WASHINGTON (AP) — Government-controlled mortgage finance company Fannie Mae said Monday it lost $29 billion in the third quarter as it took a massive tax-related charge and saw mortgage defaults continue to rise.

Other stories:

ENGLEWOOD, Colo. (AP) — EchoStar Corp., which sells set-top boxes and provides satellite television services to Dish Network, said Monday that its losses surged in the third quarter due to write-downs and other losses on troubled investments.

WASHINGTON (AP) — Allied Capital Corp., a firm that invests in long-term debt and equity capital of middle market businesses, said Monday that its net investment income more than doubled in the third quarter.

SACRAMENTO, Calif. (AP) — Pacific Ethanol Inc. said Monday its third-quarter loss widened on higher corn prices and an impairment charge for suspending construction on a project.

Perfect World Co., an online game developer and operator in China, posted a 61 percent increase in its third-quarter profit, boosted by subscriber growth and new games and expansion packs.

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