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Tuesday, January 13, 2009
Market Winners & Losers: CVS, Lexmark
David O'Brien
FOXBusiness
Tuesday was a gray day, both in and out of the market. Despite a flurry of big headlines, the major indices as they finished the day up just 0.1% as the future of both Citigroup and Bernie Madoff hung in the balance.
Here are some of today’s winners and losers:
Winners
Developers Diversified Realty Corp. (DDR)
Tuesday was another volatile day for the REIT, which managed to regain most of the losses it incurred Monday. Shares closed
up nearly 16 to finish the trading day at $6.97, a gain of 95 cents.
Lincoln National Corp. (LNC)
Shares were up Tuesday as the lender prepares to receive government funds and release its fourth-quarter earnings. Shares
gained more 14.6% on the day, to end at $20.05 – an increase of $2.56.
Thermo Fisher Scientific Inc. (TMO)
It seems Barron’s was right – TMO may be the stock to buy. The stock slid recently after making a strong climb at the end
of last year, but shares closed the trading day up more than 8.5%, gaining $2.93 to close at $37.08.
Varian Medical Systems Inc. (VAR)
A drastic increase in sales helped give the medical equipment supplier a boost. The stock rose 8.4%, or $2.86, to close at
$36.92.
CVS Caremark Corp. (CVS)
News that the company is increasing its quarterly dividend helped shares gain more than 7% on Tuesday. The stock ended the
day up $1.76 to close at $26.69.
Losers
Lexmark International Inc. (LXK)
After issuing a profit warning early this morning, the stock took a dive. Shares ended the day down more than 13%. The stock
closed at $24.63, a loss of $3.72.
Goodyear Tire & Rubber Co. (GT)
The continued decline in auto sales has hit a dead end – literally. As the tire manufacturer continues to feel the strain
of a weakening auto market, shares closed the day at $6.20 – a loss of 54 cents.
Amphenol Corp. (APH)
The stock has been in a downward spiral since the fiber-optic equipment manufacturer cut its fourth-quarter outlook. Shares
were down nearly 8% Tuesday, closing at $22.75 – a loss of $1.96.
Precision Castparts Corp. (PCP)
A ratings downgrade to neutral hurt the IGT parts manufacturer, which saw shares drop 7.6% on the day. The stock closed at
$55.90, a loss of $4.59.
MEMC Electronic Materials Inc. (WFR)
The semiconductor maker has been on the downslide since September and today was no different. The stock lost more than 7%
on the day to finish at $14.78, a loss of $1.14.
FOX Translator
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
