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Market Winners & Losers: General Motors, MetLife

 
By David O'Brien
FOXBusiness
     

    Monday fell the way of Friday as the Dow slipped below 8300. The major indices were down an average of 2.5%. With TARP and auto bailouts taking up most of the headlines, here are a few of the winners and losers.

    Winners

    General Motors (GM)

    The auto maker continues to make attempts to survive as Washington debates whether or not it should receive more funding. The company announced today that it was selling its stake in Suzuki for a little more than $230 million, which gives the company another four days of life at the current rate it burns through cash. The stock was up 5.65% on Monday, closing at $3.18.

    Lowe's Cos. (LOW)

    Even with a drop in third-quarter profit from last year, it beat estimates, pulling in $488 million. The stock jumped 4.17% on the back of hurricane repairs and finished the trading day at $18.99. Though, with the current state of the housing sector, it is doubtful if these gains will continue throughout the remainder of the year.

    Teradata Corp. (TDC)

    The database manufacturer saw its largest increase Monday since releasing third-quarter earnings two weeks ago. The stock was up nearly 4% on the day closing at $12.47 an increase of $0.46 to start the week.

    Southwestern Energy Co. (SWN)

    As crude prices hit a new 22-month low, the energy provider, who is mainly focused on natural gas, watched its stock climbed a little more than 3%. The stock was up 94 cents on the day closing Monday at $31.20.

    Allegheny Energy Co. (AYE)

    The combination of falling crude and the approval of a new 500 kv project by Pennsylvania Public Utility Commission drove the stock up more than 3% on Monday. The stock closed at $29.58, an increase of 88 cents per share.

    Losers

    Hartford Financial Services Group Inc. (HIG)

    Any gains made on Nov. 14 were erased on Monday. The stock fell near 27% to start the week as the excitement over the company’s announcement that it was applying for TARP funds faded. The stock closed down $3.39 trading at $9.36

    MetLife Inc. (MET)

    This is another one of the last-minute guests to the TARP party, though like many other in the insurance sector it continues to take a beating. The stock dropped 21% today, and finished trading $22.23 a loss of $5.91.

    Prudential Financial Inc. (PRU)

    Following the insurance trend, the stock hit another wall Monday. The stock continued its slide, losing another 17% as it hovers just 75 cents over the 52-week low. It finished trading at $20.89, down $4.35 on the day.

    Intuitive Surgical Inc. (ISRG)

    After several analysts downgraded the robotic surgical-equipment maker, the stock had a deep decline, losing more than $25. This comes as hospitals are having difficulty raising money for the company’s tools. The stock ended Monday trading at $123.34, a loss of almost 17%.

    CIT Group Inc. (CIT)

    While it has not disclosed whether it will be a private or public sale, the commercial finance company is going to sell stock in an attempt to raise capital. Also, it is looking to buy back debt as a way to increase its ability to absorb debt. All of this comes as CIT is trying to become a bank so it can begin to tap the TARP. Shares finished down 65 cents, or 16%, closing at $3.49.

     

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