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Tuesday, January 06, 2009
Market Winners & Losers: American Capital, Celgene
Kathryn Buschman Vasel
FOXBusiness
It was choppy trading for the markets Tuesday, but the indices weathered the storm and landed in the green with the Standard & Poor's 500 closing up 7.25 points, or 0.78%, at 934.70.
Here’s a look at some of the session’s winners and losers:
Winners
American Capital Ltd. (ACAS)
Shares of the principal investment firm soared 40.58% today, following the general upswing of the financial sector.
Developers Diversified Realty Corp. (DDR)
News that the manager and developer of the shopping-center stands promoted two executives sent the stock jumping 35.96%.
Ciena Corp. (CIEN)
An upgrade from an analyst sent shares of the communications equipment maker up 18.64%
LSI Corp.(LSI)
Shares of the electronics company increased 18.04% along with others in the tech sector.
JDS Uniphase Corp.(JDSU)
The communications equipment company jumped 15.89%.
Losers
Intercontinental Exchange Inc. (ICE)
Following the release of the company’s December trading volume data, shares of the global exchange and OTC market operator
dropped more than 10%. Last year was a rough one for the company with its stocks dropping 60%.
Celgene (CELG)
A downgrade from an analyst citing worries the company won’t meet 2009’s growth expectations sent shares of the biopharmaceutical
company falling 7.16% today.
Laboratory Corp. of America Holdings (LH)
The provider of clinical laboratory services cut its 2009 earnings and revenue projections saying it now expects to earn
$4.75 to $4.95 a share compared to earlier estimates of $5 to $5.25. The gloomy outlook sent the company's stock down 6.49%.
Coventry Health Care Inc. (CVH)
After being downgraded by a analyst at Deutsche Securities shares of the health-care company fell 6.25%.
Quest Diagnostics Inc. (DGX)
The maker of medical diagnostic tests fell 5.88% after it declared a quarterly cash dividend on Quest Diagnostics common
stock of $0.10 per share.
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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.






