August 19th, 2008 | by admin |
(Updates to regular session)
NEW YORK, Aug 18 (Reuters) -Some U.S. stocks on the moveon Monday:
FANNIE MAE (FNM.N: Quote, Profile, Research, Stock Buzz)
FREDDIE MAC (FRE.N: Quote, Profile, Research, Stock Buzz)
Freddie may have to raise $5.5 billion in capital as earlyas the third quarter, instead of the second quarter of 2009,according to a Merrill Lynch analyst, who also cut his pricetarget on the mortgage finance company's stock.
And Barron's, the weekly financial newspaper, reportedthat the U.S. Treasury is growing increasingly likely torecapitalize Fannie and Freddie in the months ahead on thetaxpayer's dime. [ID:nBNG332915]
Fannie's stock shed 18.5 percent to $6.45, close to itssession low at $6.39, while Freddie's shares lost 18 percentto $4.80, both on the New York Stock Exchange. Earlier,Freddie's stock slid to a session low at $4.73.
Fannie's stock hit its lowest since 1990, while Freddie'sstock is close to a 17-year low hit about a month ago.
LEHMAN BROTHERS HOLDINGS INC (LEH.N: Quote, Profile, Research, Stock Buzz)
Some analysts are girding for a third-quarter loss of $1.8billion or more from the U.S. investment bank instead of themodest profit they had previously expected, the Wall StreetJournal reported on Sunday. [ID:nN17380162]
Lehman shares fell 4.7 percent to $15.41 on the NYSE.
HERSHEY CO (HSY.N: Quote, Profile, Research, Stock Buzz)
Shares of the candy company fell 10 percent to $37.46 onthe NSYE after it said it was raising U.S. prices by roughly10 percent and warned that the higher cost of ingredients suchas cocoa, corn sweetener, sugar and peanuts would weigh onprofits. [ID:nN15290420]
ELECTRONIC ARTS INC (ERTS.O: Quote, Profile, Research, Stock Buzz)
TAKE-TWO INTERACTIVE SOFTWARE INC (TTWO.O: Quote, Profile, Research, Stock Buzz)
Electronic Arts, the video game publisher, said it will letits $2 billion buyout offer for smaller rival Take Two expireon Monday as it does not believe they can complete a dealbefore the holiday shopping season.
Take Two shares lost 2.4 percent to $24.25.
Electronic Arts shares fell 2.3 percent to $47.14. Bothtrade on Nasdaq.
HUNTINGTON BANCSHARES INC (HBAN.O: Quote, Profile, Research, Stock Buzz)
The Midwestern U.S. banking company's stock fell 8.3percent to $7.31 on Nasdaq after a troubled mortgage clientsaid it expected a big quarterly loss, and an analystdowngraded the stock to "sell."
BROADCOM CORP (BRCM.O: Quote, Profile, Research, Stock Buzz)
The chip maker's stock could shoot up as much as 40 percentas it grabs part of the "smartphone" market, according to anarticle in the Aug. 18 edition of Barron's. [ID:nN17385425]
Broadcom shares added 0.2 percent to $27.52.
R.H. DONNELLY (RHD.N: Quote, Profile, Research, Stock Buzz)
The stock of the yellow pages directories publisher couldrally if business stabilizes and its bonds also look good,Barron's said in its Aug. 18 edition. [ID:nN17341341]
Donnelly's stock climbed almost 20 percent to $2.25.
FIRST MARBLEHEAD CORP (FMD.N: Quote, Profile, Research, Stock Buzz)
Shares soared 42.7 percent to $4.28 on the NYSE on Mondayas a Goldman Sachs fund completed an equity investment in thestudent finance company, which has been hit hard by thecollapse in asset-backed securities markets. [ID:nN18436296]
DYAX CORP (DYAX.O: Quote, Profile, Research, Stock Buzz)
The biopharmaceutical company said its product candidatefor the treatment of hereditary angioedema (HAE) met the maingoal of a late-stage clinical trial.
The stock jumped 15 percent to $4.98 on Nasdaq.
SAIA INC (SAIA.O: Quote, Profile, Research, Stock Buzz)
Shares of the less-than-truckload carrier fell 7.1 percentto $18.35 on Nasdaq, after at least one brokerage downgradedthe stock on valuation, prompted by a surge in the stock pricelast week. (Editing by Jan Paschal)