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Monday, January 05, 2009
Market Winners & Losers: Lennar, Interpublic Group
By David O'Brien
FOXBusiness
On the first “back-to-business” trading day of the New Year, the major indices saw small losses across the board while news of President-elect Obama’s tax and infrastructure plans continue to come out.
Here are some of Monday’s winners and losers:
Winners
American Capital Ltd. (ACAS)
The stock made a major rebound after touching its 52-week low last week. Shares gained $1.52, or 41.3%, on Monday, closing at $5.20.
Micron Technology Inc. (MU)
A subsidiary, Aptina Imaging Corporation, received a mobile phone software business from Shanghai-based Chipnuts Technology Inc. This helped the stock have one of its biggest days in recent months, gaining 48 cents, or nearly 17% to $3.32.
Advanced Micro Devices Inc. (AMD)
A slew of new technology helped boost the stock 29 cents, or more than 12%, on the day to close at $2.67.
Lennar Corp (LEN)
With President-elect Obama ever more certain about his infrastructure project, the homebuilder saw shares rise 11%, or $1.02 a share, to start the week. It closed the day at $10.02.
Teradyne Inc. (TER)
After receiving an upgrade from Barclays Capital, the stock saw a jump of 50 cents, or nearly 11%, to finish at $5.17.
Losers
IntercontinentalExchange Inc. (ICE)
ICE was hurt Monday by energy stocks, despite the overall gain in the past year by the exchange. It finished the day down $11.57 a share, or nearly 14%, closing at $73.
Tenet Healthcare Corp (THC)
Even the news that one of THC’s biggest critics was dissolving its group could not help the health-care services company. The stock fell 13%, or losing 17 cents, to close at $1.10.
LSI Corp. (LSI)
The semiconductor maker continues to have a roller-coaster ride, crashing late Monday to end down 30 cents, or 8.4%, to $3.27.
Interpublic Group of Cos. (IPG)
Advertising may not be the best business to be in during a recession, as the company still floats barely above its 52-week low. The stock knocked off 34 cents, or about 8%, on the day, closing at $3.94.
Comerica Inc. (CMA)
CMA lost ground along with a number of financial stocks after Deutsche Bank analyst Mike Mayo said he expects worsening economic trends to pressure bank balance sheets this year. The regional bank fell $1.53, or 7.3%, closing at $19.42 after a late-afternoon selloff.
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