As acquisition rumors drive up his company's stock price, Robert H. Lutz, chief executive of Amresco Inc., is hoping that his company is out of the woods. He notes that surviving units have been bringing in good business.

After hitting a high of more than $35 last year, the stock plummeted in October when the company suffered from hedging losses. Amresco then shut its unit that securitizes home equity loans and fired several hundred employees.

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