Up and Down: The GSEs, Martek, Sunrise, Vanda
It was a good week to be a government-sponsored enterprise.
Or at least an investor in one.
Shares of Freddie Mac (FRE) soared 54 percent, shares of Fannie Mae (FNM) 53 percent and shares of Farmer Mac (AGM) 23 percent.
Both Fannie and Freddie are still below their 52-week highs of $70.57 and $68.12, respectively. Farmer Mac's shares haven't suffered as much in the past year; they're down just over 25 percent from their 52-week high.
Freddie shares closed at $32.58 and Fannie at $34.30 on Thursday; the trading week was shortened because of Good Friday.
Provident Bankshares (PBKS) also had a good week, with shares climbing 15 percent to close at $11.65. That gain was good enough to get it off our list of one-year losers, though it's still on the three-month list, with shares down 48 percent in that period. On March 13, Fitch Ratings affirmed its ratings on the Baltimore company and its banking subsidiary and said its outlook is stable.
Interstate Hotels & Resorts (IHR) of Arlington is one of the top three-month gainers, with shares up 34 percent in that period. Its fourth-quarter profit, announced Feb. 27, topped estimates, and its earnings outlook was upbeat. Investors seem happy with the hotel manager's strategy of buying wholly owned hotels.
Martek Biosciences (MATK) of Columbia won a spot on our one-year gainers list, with a gain of 56 percent in the past 12 months. The company's shares closed at $31.16 on Thursday, not too far off their 52-week high of $34.70, reached in January. The producer of DHA omega-3 products has been expanding its reach; in the past few weeks it's launched a powder, protein-free version of its life'sDHA and the first bread product with life'sDHA and made a deal with an Australian juice company and one with Sunkist.
SI International (SINT) cut its 2008 guidance this week and its shares lost 18 percent, closing at $19.60. Shares fell more than 20 percent on Wednesday on the news that the Reston company wasn't expecting as good of a year. "SI International is experiencing a delay in the funding and start of several key programs that we had anticipated would make a positive contribution to our first quarter operating results," said chief executive Brad Antle in a statement. "Specifically we have been carrying staff in anticipation of these program starts, which has resulted in a high level of unabsorbed overhead expense."
Shares of Sunrise Senior Living (SRZ) took a big hit after the company missed a New York Stock Exchange deadline for filing its annual report, but they ticked back up 2.2 percent on Thursday to close at $20.45. That still left shares of the McLean company down 16 percent for the week after a Tuesday drop that brought shares to a three-year low. It did get an extension from the NYSE on Wednesday, and some investors are pointing to the fact that demand for senior-living facilities doesn't appear likely to fall as the baby boomers age.
Vanda Pharmaceuticals (VNDA) hit the top of the list of one-year losers, with shares down 87 percent in that time. The Rockville company's shares closed at $3.15 on Thursday, well off their 52-week high of $25.58, hit March 23, 2007. Vanda, which works on treatments for disorders of the central nervous system, hasn't managed to pull in any revenue from services since 2005, and it said in February that its 2007 loss was more than $74 million.
March 24, 2008; 12:00 PM ET
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