4 – EMCORE – NASDAQ:EMKR
3 – CarMax – NYSE:KMX
2 – E*TRADE Financial – NASDAQ:ETFC
1 – Lehman Brothers – NYSE:LEH
* JPMorgan Chase struck a deal on Sunday to bail out Wall Street's fifth biggest bank Bear Stearns for $2 a share in a deal backed by the Federal Reserve. Bear Stearns stock lost nearly half its value on Friday, when investors began a run on . The deal is valued at $236.2 million. Bear shares plummeted an additional $25.19 or 83.97% to $4.81 Monday, following Friday's monumental sell-off.
EMCORE Corporation (NASDAQ:EMKR) provides compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite, and terrestrial solar power markets. The company's Fiber Optics segment offers optical components, subsystems, and systems that enable the transmission of video, voice, and data over fiber optic cables for high-speed data and telecommunications, cable television, and fiber-to-the-premises networks.
* Shares of EMCORE dropped an additional 3% after falling 8.5% on Friday. Last Wednesday, the stock jumped after an Oppenheimer analyst said the company had a number of positive growth catalysts, especially in its solar chip business. EMKR closed down 28 cents or 3.07% to $8.83 Monday.
CarMax, Inc., (NYSE:KMX) through its subsidiaries, operates as a retailer of used vehicles in the
* One week ago, CarMax was named one of the nation's most ethical companies. The company is the recipient of the 2008 Council of Better Business Bureau's International Torch Award for Marketplace Excellence. The award, handed out annually since 1996, rewards companies that practice "fair, honest and ethical business practices." Shares of KMX lost 94 cents or 4.91% to $18.21 on Monday.
E*TRADE Financial Corporation, (NASDAQ:ETFC) through its subsidiaries, offers financial solutions to retail and institutional customers worldwide. It provides retail investments and trading, which include automated order placement, and execution of market and limit equity, futures, options, exchange-traded funds, mutual funds, and bond orders, as well as offers quick transfer, wireless account access, extended hours trading, quotes, and research and advanced planning tools.
* E-Trade Financial shares slipped Monday after analysts said they have become more pessimistic about brokerage stocks. UBS analyst Glenn Schoor downgraded shares of rival online brokerage TD Ameritrade and five other financial services stocks Monday, saying a cash squeeze in the financial markets is going to get worse. Schoor lowered his rating to "Neutral" from "Buy." Shares of ETFC lost 34 cents or 9.37% to $3.29 on Monday.
* Shares of Lehman Brothers ended a volatile Monday session with its biggest one-day percentage loss since becoming a public company in 1994, but even with that drop managed to cut its losses more than half from the day's lows. The investment bank was swept up in a crisis of confidence following news of JPMorgan & Chase's government-backed takeover of Bear Stearns. Lehman ended off $7.51 or 19.13% to $31.75 but had fallen as much as 40% at one point in the session.
The daily HIGH FIVE stocks are determined by the company's proprietary, internal algorithmic calculators. The result is five securities that are the most sought after to borrow, and have proven to be the hottest stocks to short that day.
CONTACT: pressrelease@locatestock.com / 201-332-6800
SOURCE: Locate Stock, Inc.
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