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Wednesday, June 10, 2009
Market Winners & Losers: CB Richard Ellis Group, Ameriprise Financial
By David O'Brien
FOXBusiness
The release of the Federal Reserve’s Beige Book did nothing to boost investor confidence Wednesday as the major indices dropped and oil hit a 17-month high. The Dow fell 0.3%, the Nasdaq dropped 0.4% and the S&P lost 0.4%.
Here are Wednesday’s winners and losers:
Winners
CB Richard Ellis Group Inc. (CBG)
The company’s plans to generate capital gave its stock a boost on Wednesday, with shares leaping 13.6%. CBG closed at $9.25,
a gain of $1.11.
XL Capital Ltd. (XL)
An analyst upgrade pushed shares of the stock up by 8% on Wednesday. XL saw its stock close at $12.14, a gain of 90 cents
a share.
International Paper Co. (IP)
International Paper shares climbed 7.7% on Wednesday, ending at $15.74 – a gain of $1.13 on the day.
Harman International Industries Inc. (HAR)
The electronics company, which supplies audio equipment to cars, moved higher by 7.3% as the sale of Chrysler to Fiat was
finalized. HAR shares closed at $21.95, a gain of $1.49.
Dynegy Inc. (DYN)
The utilities supplier bounced back from Tuesday’s losses, gaining 7.1% on Wednesday. DYN last traded at $2.27, a gain of
15 cents.
Losers
Ameriprise Financial Inc. (AMP)
The financial advisory company saw its stock sink after it unveiled plans to raise $900 million through a public stock offering.
AMP shares lost $2.06, or 7.3%, ending the day at $26.33.
Pall Corp. (PLL)
Pall shares lost ground after a downgrade by Barclays. The stock lost $2.08, or 7.2%, settling at $26.87.
Host Hotels & Resorts Inc. (HST)
Host Hotels fell 6% on Wednesday, ending at $9.12 – a loss of 58 cents on the day.
Morgan Stanley (MS)
Morgan Stanley shares ignored a price target increase by JP Morgan and fell 5.6% on Wednesday. The stock closed at $29.26,
a loss of $1.72 on the day.
PNC Financial Services Group Inc. (PNC)
Another financial company hurting on Wednesday, PNC saw its stock slide 5.4% to $41.80, a loss of $2.38.
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