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Market Winners & Losers: MBIA, Molson Coors

 
By David O'Brien
FOXBusiness
     

    As the markets saw their largest post election decline ever with an average drop of over 5% across the major U.S. indexes, the world marched on, earnings reports drove a number of stocks today and the continuing economic problems have not gone the way of a republican in office.

    Losers

    General Growth Properties (GGP)

    The mall owner continues to fall as losses widened in the third quarter. The stock fell nearly 50%, to $2.25, as the company looks to close more properties in attempts to further cut costs.

    MBIA Inc. (MBI)

    This is one of the most-shorted stocks on the market, and recent negative ratings along problems with mortgage-backed securities caused the stock to drop 22% today as the stock closed at $8.16.

    Developers Diversified Realty Corp (DDR)

    Amid more problems with shopping centers, the mall developer is looking to sell its stakes in more than a dozen properties. This company has also previously stated that it will suspend its dividend in the fourth quarter. The stock tumbled 19.5% to $11.26.

    Pioneer Natural Resources Co. (PXD)

    The company reported third-quarter losses of $3 million; it suffered massive losses from hurricane-related damages. This drove the stock down more than 15% as its stock closed at $24.79.

    Jacobs Engineering Group Inc. (JEC)

    The stock plunged 15% amid reports that several oil-drilling projects have been canceled due to lower crude prices. Also, its third-quarter earnings, along with the recent cancellation of projects, helped drive the stock down to $35.52.

    Winners

    Medco Health Solutions Inc. (MHS)

    Third-quarter profits up 38%, largely on increased sales of generic drugs during the recent economic crisis, helped the stock rise 9.1% today to $41.47. Projected earnings have the company set to weather the current recession fairly well.

    Molson Coors Brewing Co. (TAP)

    A great third quarter combined with growing sales in Canada and the U.K. helped the stock climb 8.3% to $41.78. Also the company was able to cut costs because of a joint-venture project with SABMiller PLC.

    Chesapeake Energy Corp. (CHK)

    Speculation of a buyout by BP (BP) pushed the stock up 8.2% today to $24.83. This is good news for an energy provider that had seen its stock drop severely over the last few months

    Humana Inc. (HUM)

    Even with a less-than-stellar third quarter, adjusted guidance drove the stock up 7.3% to close at $36.01. The health-insurance and health-benefits company is looking to rebound after recent problems driven by rising costs related to insurance and Medicare.

    Hospira Inc. (HSP)

    The company saw a third-quarter profit gain of 38% and reaffirmed its outlook for 2008, helping to drive the stock up 7.3% to $30.60 at the day’s end. The company, whose shares had fallen nearly $12 in October, is looking to bounce off its 52-week lows.