Home / Markets / Market Overview
Friday, November 28, 2008
Market Winners & Losers: Convergys, D.R. Horton
Joanna Ossinger
FOXBusiness
In a light volume trading session sandwiched between the Thanksgiving Day holiday and the weekend, the major indices all ended higher to mark the fifth consecutive “up” day -- the best such streak since July of last year.
Here are some of the winners and losers from the session.
Winners
Convergys (CVG)
Convergys, a human resources firm, vaulted $1.58, or 34%, to $6.29 on Friday. The company’s international business expertise could be useful in the wake of the terrorist attacks in Mumbai, India, as companies decide what to do with personnel in developing economies.
Ford Motor (F)
Ford has been asking the U.S. government for a financial helping hand, along with rivals General Motors (GM) and Chrysler. Congress is going to consider the aid package this week, and Ford’s stock rose 52 cents, or 24%, to $2.67.
General Growth Properties (GGP)
GGP, a commercial real-estate investment trust, got a boost to end the week in which it had both sold a 20% stake to Pershing Square Capital Management and faced a Friday deadline on $900 million of maturing mortgages. Its shares gained 22 cents, or 19%, to end at $1.38.
Lincoln National (LNC)
Lincoln National has been in the news a lot recently, mostly for bailout-related reasons – and this is just one more is a series of volatile moves. Shares jumped $2.15, or 19%. To $13.73.
Micron Technology (MU)
Reports surfaced that a Micron executive said the company is planning a high-end solid-state disk drive capable of 1 gigabyte/second throughput. That’s four times faster than a similar Intel (INTC) product. The market sent Micron higher by 35 cents, or 15%, to $2.74.
Losers
Chesapeake Energy (CHK)
Chesapeake tumbled $3.06, or 15%, to $17.18 after it filed an acquisition shelf to issue 50 million shares.
CB Richard Ellis (CBG)
CB Richard Ellis deals mostly with commercial realty, which a lot of investors think could follow residential real estate off a cliff. The stock fell 49 cents, or 9.7%, to $4.56.
D.R. Horton (DHI)
D.R. Horton posted pretty weak earnings earlier this week, but the markets didn’t mind so much. On Wednesday, though, Moody’s cut credit ratings on the home builder and three of its peers. Friday, DHI declined 65 cents, or 8.6%, to $6.87.
AK Steel Holding (AKS)
AK Steel recently gained state EPA approval for a coke plant in Middletown, Ohio – but steel producers overall are facing headwinds from factors such as raw-material costs and declining orders. The stock slipped 72 cents, or 8.4%, to $7.88.
Interpublic Group (IPG)
The advertising company’s shares fell 29 cents, or 6.6%, to $4.09 on Friday. Things have been tough for the entire sector as companies cut back on overall spending, and ad spending is often one of the first things to be slashed.
Fox Business Video
-
-
The Business of Sports
-
Nov 7, 2009
FOXBusiness.com LIVE
-
-
-
Jim Caviezel: Hollywood and th...
-
Nov 7, 2009
Actor in life in film
-
-
-
Ticker Tape Parade Invades Downtown
-
Nov 7, 2009
Yankees celebrate 27th World Series win
-
-
-
Cavuto Business Report 11-06-09
-
Nov 7, 2009
Business Report: Cavuto
-
-
-
Pro Poker Player: $2M in 2 Months
-
Nov 7, 2009
Pro Poker player on growing success of sport
-






