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Market Winners & Losers: Office Depot, MBIA

 
David O'Brien
FOXBusiness
     

    Nov. 13 was certainly not an unlucky day -- it saw a swing of around 900 points from high to low. Companies that had been trading at 52-week, 5 year and 10 year lows managed to make progress while others continued their downward spiral.

    Winners

    ProLogis (PLD)

    The company, which saw its stock cut in half Tuesday, gained more than 50% Wednesday.  A meeting that occurred in the morning drove the stock throughout the day as the company looks to strengthen its balance sheet. The stock finished the day trading at $6.84, up $2.37.

    Genworth Financial Inc. (GNW)

    After recent falls related to government borrowing and the mortgage crises, the insurance company was able to borrow nearly $1 billion from its own revolving lines of credit. The stock surged 53% today and closed at $1.53.

    CB Richard Ellis Group Inc. (CBG)

    With the continued news that the real estate developer will offer 50 million shares to the public, the stock rose $1.62, or 43%, Wednesday at $5.39. The company is looking to bring in upwards of $180 million from the deal, to be used for general purposes.

    Office Depot Inc. (ODP)

    The stock had a rare upswing after the company released its corporate citizenship report today discussing charity and green driven work. Shares gained 64 cents, or 36%, closing at $2.44.

    CIT Group Inc (CIT)

    The commercial lender is another name to add to the long line of companies looking to tap the TARP. The stock had been hit hard recently and was just 30 cents off its 52-week low on the 12th when news of its request to become a bank drove shares up 26.19%, or 88 cents, to settle at $4.24.

    Losers

    Dr. Pepper Snapple Group Inc. (DPS)

    Recent outlook cuts drove the stock down 13%. The drinks maker had released earnings that had profit drop 30%. The stock finished the day $18.19, a loss of nearly $3.00.

    Unisys Corp (UIS)

    The stock has done a 180-degree turn -- it stopped its climb after being bumped from the S&P 500 index, but this week continues on its decline. The stock fell nearly 11%, closing at 67 cents.

    Prudential Financial Inc. (PRU)

    Nothing is going right for one our nation’s largest insurance providers. After recent dividend cuts, investment losses in real estate and a dismal third quarter, the stock dropped another 5.28%, or $1.40, closing at $25.14.

    MBIA Inc. (MBI)

    There may be light at the end of the tunnel for the bond insurer. Even with a recent loss of more than $800 million and Moody’s dropping its rating, the CEO announced that he is purchasing 100,000 shares of stock. The stock fell another 4.3%, closing at $6.07.

    General Motors Corp. (GM)

    The gain on Tuesday turned out to be just a façade. The company watched shares fall more than 4% Wednesday as thoughts of a bailout for the U.S. autos did not make major news during the session. There are still capital concerns, and it is yet to be seen if the company will exist come next year. The stock closed today at $2.95, down 13 cents.

     

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