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CNN Live At Daybreak

Wells Fargo Offers AA Miles to Refinancers

Aired July 07, 2003 - 06:46   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


KRIS OSBORN, CNN ANCHOR: Well it's time now to check on business. Want to earn some frequent flyer miles, you may want to consider refinancing.
Carrie Lee is at the Nasdaq market site with details on this.

Home mortgage loans, refinancing, fill in the blanks for us, good morning, also. By the way, good morning.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning to you, Kris.

This is a rather unusual pairing here, but members of American Airlines Frequent Flyer Program can now earn miles if they take out a home loan or refinance their loan with Wells Fargo. Now every $10,000 of the loan is worth 1,000 American Airlines frequent flyer miles and there's no limit on how many miles can be earned. The company say that they also plan to offer miles for home equity loans in the coming months. Of course, Kris, the most important thing though when you're taking out a loan is not the frequent flyer miles but the interest rate that you receive. But still, an interesting pairing nonetheless.

OSBORN: What about the futures, how are they looking this morning?

LEE: Looks like we could see a higher open. Things look pretty good this Monday morning following a bit of a pull back on Thursday on some weaker-than-expected job numbers. We did end a little bit higher on the week, though.

One stock to watch, or I should say a pair of stocks to watch this morning, VF Corporation. The apparel company has agreed to buy Nautica in a deal worth about $586 million. That's worth about $17 in cash per Nautica share. And Thursday, Nautica shares closed just above $13, so quite a premium. Nautica shares could possibly move higher today as a result.

OSBORN: Thank you very much, Carrie, from New York on the market situation.

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Aired July 7, 2003 - 06:46   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KRIS OSBORN, CNN ANCHOR: Well it's time now to check on business. Want to earn some frequent flyer miles, you may want to consider refinancing.
Carrie Lee is at the Nasdaq market site with details on this.

Home mortgage loans, refinancing, fill in the blanks for us, good morning, also. By the way, good morning.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning to you, Kris.

This is a rather unusual pairing here, but members of American Airlines Frequent Flyer Program can now earn miles if they take out a home loan or refinance their loan with Wells Fargo. Now every $10,000 of the loan is worth 1,000 American Airlines frequent flyer miles and there's no limit on how many miles can be earned. The company say that they also plan to offer miles for home equity loans in the coming months. Of course, Kris, the most important thing though when you're taking out a loan is not the frequent flyer miles but the interest rate that you receive. But still, an interesting pairing nonetheless.

OSBORN: What about the futures, how are they looking this morning?

LEE: Looks like we could see a higher open. Things look pretty good this Monday morning following a bit of a pull back on Thursday on some weaker-than-expected job numbers. We did end a little bit higher on the week, though.

One stock to watch, or I should say a pair of stocks to watch this morning, VF Corporation. The apparel company has agreed to buy Nautica in a deal worth about $586 million. That's worth about $17 in cash per Nautica share. And Thursday, Nautica shares closed just above $13, so quite a premium. Nautica shares could possibly move higher today as a result.

OSBORN: Thank you very much, Carrie, from New York on the market situation.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com