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Monday, December 29, 2008
Market Winners & Losers: Hess, Dow Chemical
By David O'Brien
FOXBusiness
With only two trading days left in the year, the market crawled its way to the downside on very light volume on Monday. The major indices closed down about 0.5% each.
Here are some of the session’s winners and losers:
Losers
Jones Apparel Group Inc. (JNY)
This retailer wasn’t feeling much leftover holiday spirit. News of another credit agreement termination sent the stock plunging by more than 19%, or $1.07, to start the week. Shares closed at $4.55.
Dow Chemical Co. (DOW)
As a deal with Kuwait valued at $17.4 billion met the ax, the stock tumbled $3.60, or 19%, on Monday to $15.32.
Rohm & Haas Co. (ROH)
This stock was a casualty of the Dow Chemical deal failure, as speculation that a deal for the purchase of ROH may have gone down the tubes caused the stock to fall $1.02, or 16%, to close at $53.34.
Prologis (PLD)
The weakening dollar and continued poor data are not helping the real estate sector, which was down across the board. PLD was down nearly 10%, losing $1.34 to close at $12.25.
Micron Technology Inc. (MU)
Capital concerns hampered the stock Monday, as it lost 23 cents, or 8.9%, finishing at $2.36.
Winners
Hess Corp. (HES)
Higher oil was the name of the game to start the week. Hess was just one of the many winners, with the stock gaining $3.20, or 6.5%, Monday to end at $52.25.
Murphy Oil Corp. (MUR)
Another winner Monday was MUR, as oil climbed back above $40 a barrel. The stock was up nearly 6%, gaining $2.49 to close at $44.24.
Baker Hughes Inc. (BHI)
BHI was another beneficiary of rising oil prices, the drilling equipment and service provider gained 5.3% or $1.56, to close at $31.18.
Tesoro Corp. (TSO)
Higher oil prices work their magic once again. The refiner managed to move higher on Monday. The stock last traded at $12.66, a 61-cent, or 5%, increase.
Transocean Ltd. (RIG)
The offshore contract provider was among many making money off of oil; despite troubles in the Middle East. It closed up nearly 5%, gaining $2.20 to $46.38.
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