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Wednesday, November 19, 2008
Market Winners and Losers: Molson Coors, Prologis
David O'Brien
FOXBusiness
On a day that saw the Dow close below 8000 for the first time in five years, we had massive selling driving the major indices down nearly 6%. Here are a big chunk of today’s winners and sample of the losers.
Winners
Scripps Networks Interactive Inc. (SNI)
One of the days big or few winners with was up 2.18% per share. The lifestyle content seems to have stopped its gradual fall despite recent layoff and dividend cuts. The stock closed the day up 52 cents at $24.40.
Molson Coors Brewing Co. (TAP)
To many days like Wednesday will drive many people to drink, but the beer manufacturer is of its lows of October and recent news of Peter H. Coors replacing Eric H. Molson as chairman is one of many things that helped the stock close up 1.70%. TAP finished the day trading at $43.76, an increase of 73 cents.
Tyson Foods Inc. (TSN)
While weak meat demand had driven prices down for the last 30 days the stock managed to hold back the deluge for a day. The stock was up 0.6% on the day, a three-cent increase per share. People have to eat… The stock closed at $5.04.
AutoNation (AN)
It’s amazing that anything having to do with the automotive industry is on the up-and-up, but the smaller car dealers were trading up on the day. Maybe it has to do with the lack of confidence in the Big 3; but shares were up nearly half a percent, or three cents, closing at $6.17.
Corning Inc. (GLW)
The LCD manufacturer halted its fall Wednesday as shares rose 0.5%. The company had just lowered its outlook for the rest of 2008 and for 2009 Tuesday as shares tumbled 7%. The stock finished trading at $8.43 today gaining four cents per share.
Losers
Lincoln National Corp. (LNC)
The company attempted to assure investors that its holdings are secure, but failed miserably today. The stock tumbled nearly 40% on the day setting a new 52-week low, which was a trend on Wednesday. It finished trading at $7.31, a loss of $4.85 per share.
Liz Claiborne Inc. (LIZ)
Nothing seems to be going right for this retailer, and shares fell another 32% Wednesday. The stock ended the day losing $1, and closed at $2.13.
Hartford Financial Services Group Inc. (HIG)
It just isn’t a good time to be an insurer; the deluge of mortgage defaults continues to bury the industry, taking everyone in its path. Shares closed down another 29%, driving the stock to a new 52-week low before, closing at $6.88 -- a loss on the day of $2.76.
Prologis (PLD)
There may be one thing worse to be involved with other than insurance, and that is real estate -- the stock set a new 52-week low as shares fell more than 25%. PLD finished trading at $3.46, a loss of $1.16.
Ford Motor Co. (F)
As the CEOs of the Big 3 were getting grilled, so was the stock of Ford. Shares fell to a 26-year low on Wednesday. With the bailout looking less likely by the day, shares fell to $1.26, a loss of 42 cents.
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If you've seen TV footage of an active trading pit, you've probably noticed the atmosphere is uproarious and wild. The reason for all the shouting? Open outcry.
On exchange floors that use the open-outcry system, traders shout prices they want to sell while others yell back the price they want to buy at. They also use hand gestures to communicate with each other.
This system has been used for a long time, but is being replaced with modern technology. Some argue electronic exchanges can do the job faster and more accurately. One of the few exchanges that continue to use open outcry is the New York Mercantile Exchange.






