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Before the Bell - New Century slides as lenders balk

Mon Mar 12, 2007 7:55am EDT

NEW YORK, March 12 (Reuters) - Shares of New Century Financial Corp. NEW.N dropped more than 40 percent before the bell on Monday after the largest independent U.S. subprime lender said its lenders plan to halt financing, a development that could push the company closer to bankruptcy. For more details see [ID:nN12324075]

Separately, UBS cut its rating on the stock to "reduce," according to a report by Marketwatch. The stock dropped to $1.86 in electronic trade, after ending at $3.21 on the New York Stock Exchange on Friday.



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