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Wachovia Posts Unexpected Q1 Loss; Will Raise Capital 

Apr 14, 2008By

(Update 1: includes updated look at mortgage exposure) Wachovia Corp [stock WB][/stock] said Monday morning that it lost $393 million, or $.20/share, during the first quarter of 2008 as the nation’s fourth largest bank struggled with its exposure to the troubled U.S. mortgage market. The earnings miss contrasted with earnings of $2.3 billion, or $1.20/share, in the year ago period.

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