Up and Down: Fannie and Freddie
The S&P 500 fell into bear territory last week, falling 1.9 percent, while the Post-Bloomberg index fell 1.3 percent.
*No prizes for guessing who the two biggest losers were last week. Freddie Mac (FRE) shares fell 47 percent, to $7.75, and Fannie Mae (FNM) shares fell 45 percent, to $10.25. They also topped the list of three-month losers, with Freddie shares down 67 percent and Fannie shares 60 percent. Vanda Pharmaceuticals (VNDA) got the No. 2 spot on the list of biggest losers of the past 52 week, but Freddie was at top, with shares down 87 percent, and Fannie was at No. 3, down 84 percent.
*The rest of last week's top 10 losers are largely financial institutions: Shares of LandAmerica Financial (LFG) were down 27 percent; Virginia Commerce Bancorp (VCBI), 17 percent; Eagle Bancorp (EGBN), 14 percent; Sallie Mae (SLM), 13 percent; Legg Mason (LM), 12 percent; and Central Virginia Bankshares (CVBK), 12 percent.
LandAmerica (81 percent), Virginia Commerce (73 percent) and Sallie Mae (69 percent) all also made the list of top 10 losers for the past year. Virginia Commerce is slated to announce its second-quarter results on Thursday.
*Of course, some stocks did gain last week. Shares of Sucampo Pharmaceuticals (SCMP) gained 16 percent, closing at $10.88, and shares of Emergent BioSolutions (EBS) rose 15 percent, to $12.05. Rockville-based Emergent last week sued Protein Sciences, saying the firm engaged in fraudulent conduct during its proposed takeover by Emergent. Protein Sciences disputes the charges.
July 14, 2008; 1:00 PM ET
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Posted by: Christian Loriau | July 16, 2008 12:44 AM
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