InteliData Receives Delisting Notice
InteliData Technologies, a Reston company specializing in Internet banking and electronic bill-payment services, said it received a delisting notification from the Nasdaq Stock Market for failing to meet the $1-per-share minimum price requirement. The company's stock will be subject to delisting June 23.
InteliData said it planned to request a hearing before the market's Listing Qualifications Panel to appeal. Pending a final decision by the panel, its stock will remain listed on the Nasdaq Small Cap Market.
The disclosure of the delisting notice came after the market closed. Shares of InteliData closed at 36 cents, down 1 cent.
Fannie, Freddie Decrease Use of Derivatives
Fannie Mae and Freddie Mac reduced their use of derivatives by about a third last year, according to their federal regulator, the Office of Federal Housing Enterprise Oversight. The notional amount of derivatives at Fannie Mae dropped by 33 percent, to $722.9 billion, while Freddie Mac's fell by 30.2 percent, to $756.8 billion, according to OFHEO's annual report.
Freddie Mac Hires J.P. Morgan Executive
Freddie Mac has hired Paul E. Mullings from J.P. Morgan Chase as senior vice president of its single-family mortgage business. Mullings replaces David H. Stevens, who left the McLean mortgage finance company last month to join Wells Fargo.
Mullings will report to Freddie Mac President Eugene M. McQuade and will be responsible for developing and managing business relationships with lender customers, including J.P. Morgan.
AES Signs Deal to Sell Power From Wind Farm
AES, an Arlington-based global energy company, said it signed a 15-year deal to sell electricity generated from its new wind farm in Texas. It would not say how much the agreement with Direct Energy is worth. The company said it was the first deal it had reached to sell electricity from its wind operations. A spokeswoman estimated that the deal could provide enough electricity for 29,000 to 36,000 homes.
Compiled from staff and news service reports.