PMI Tagged With 'Bear of the Day' Label

The PMI Group, Walnut Creek, Calif., has been tagged the "Bear of the Day" for Jan. 11 by Zacks Equity Research, Chicago. Zacks said it is maintaining its sell rating on the company due to our concerns about continued weakness in the housing and mortgage markets. PMI had a third-quarter net loss of $1.04 per share because of increases in paid claims, loss adjustment expenses, and additions to its loan loss reserves. Higher losses for PMI are expected when the company reports its fourth-quarter results because "the deterioration in the housing market was worse than earlier projected," Zacks said. The research firm can be found online at http://www.zacks.com.

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