Up and Down: Banks, Fannie and Freddie, VSE, Blackboard, Coal

The S&P 500 rose 1.7 percent last week, while the Post-Bloomberg index gained 0.03 percent.



*Last week's biggest gainer was Provident Bankshares (PBKS) of Baltimore, which Thursday reported a small drop in profit and fewer delinquent loans than in the first quarter. Shares had hit their 52-week low of $4.52 on Tuesday; they closed up 33 percent for the week, at $7.91. Shares are still about a quarter of what they were last August, when they hit their 52-week high of $33.50.

*Shares of Fannie Mae (FNM) and Freddie Mac (FRE) rebounded last week, gaining 31 percent and 18 percent, respectively. Shares of Fannie closed Friday at $13.40, down 81 percent from their 52-week high, hit Aug. 22. Shares of Freddie are 86 percent off their 52-week high, hit Aug. 17. LandAmerica Financial (LFG) and Virginia Commerce Bancorp (VCBI) also made the list of top 10 gainers last week, rising 22 percent and and 19 percent, respectively, after joining Fannie and Freddie on the top 10 losers list last week. Shares of LandAmerica are down 76 percent in the past 52 weeks, and shares of Virginia Commerce down 69 percent.

*VSE (VSEC) of Alexandria gained 24 percent last week, closing Friday at $32.47. The company announced last week that it won an indefinite delivery/indefinite quantity contract from the Air Force for its Contract Field Teams Program, giving its shares a boost.

*Blackboard (BBBB) of the District rose 17 percent last week, with shares closing Friday at $41.93. On Thursday, an analyst at Robert W. Baird upgraded the company from neutral to outperform, helping its shares rise almost 13 percent that day. Shares are still lower than their 52-week high of $49.90, hit in November.



*The biggest losers on our one-week list last week were Massey Energy (MEE), down 19 percent, and Foundation Coal Holdings (FCL), down 15 percent. They're both still on the last of top gainers in the past two weeks, with Massey shares up 180 percent in that time and Foundation shares up 73 percent. The $10 billion takeover of Alpha Natural Resources has prompted a look at the coal industry and talk of potential other acquisitions. Shares of Richmond-based Massey and Linthicum Heights-based Foundation both hit their 52-week highs June 30.

*WSB Holdings (WSB) of Bowie and Eagle Bancorp (EGBN) of Bethesda both fell last week, with shares of WSB losing 8 percent and shares of Eagle losing 7 percent. Eagle Bancorp said Friday that profit fell slightly in the second quarter, while WSB said Thursday that second-quarter profit fell 26 percent.

By Terri Rupar  |  July 21, 2008; 11:45 AM ET  | Category:  Wall Street
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