4 – MF Global – NYSE:MF
3 – CarMax – NYSE:KMX
2 – Bear Stearns – NYSE:BSC
1 – Lehman Brothers – NYSE:LEH
MF Global Ltd., (NYSE:MF) formerly Man Financial, is the leading broker of exchange-listed futures and options in the world with offices in Bermuda, New York, London, Chicago, Paris, Mumbai, Singapore, Sydney, Toronto, Tokyo, Hong Kong, Taipei and Dubai. It provides execution and clearing services for exchange-traded and over-the-counter derivative products as well as for non-derivative foreign exchange products and securities in the cash market.
* A rapid evaporation of MF Global's equity, sparked in part by fears of association with the recent Bear Stearns buyout, could become a "self-fulfilling prophecy," a Keefe, Bruyette & Woods analyst said on Tuesday. During Monday trading, when the stock dropped 65%, rumors swirled about MF Global's connection to Joe Lewis -- an investor who lost billions as Bear Stearns agreed to a discounted buyout by JPMorgan Chase -- and was in some way connected to the company. But just after
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 gained $2.22 or 12.19% to $20.43 after being down 5% in Monday's session on the NYSE.
The Bear Stearns Companies, Inc. (NYSE:BSC) operates as an investment banking, securities and derivatives trading, and clearance and brokerage company serving governments, corporations, institutions, and individuals worldwide. It operates through three segments: Capital Markets, Global Clearing Services, and Wealth Management.
* Bear Stearns shares surged as much as 77% on Tuesday, as investors speculated on the outcome of JPMorgan Chase's bid to buy the storied investment bank. Bear Stearns, which JPMorgan agreed to buy for stock in deal valued at about $2.30 a share at current prices, gained $1.10 or 22.87% to close at $5.91 on the NYSE, where it had risen to as high as $8.50 on Tuesday. The stock is down more than 90% since Friday's run on the bank.
Lehman Brothers Holdings, Inc., (NYSE:LEH) through its subsidiaries, provides various financial services to corporations, governments and municipalities, institutions, and high-net-worth individuals worldwide. The company operates in three segments: Capital Markets, Investment Banking, and Investment Management.
* Lehman Brothers shares leaped by more than a third on Tuesday as investors digested better-than-expected earnings for the first quarter. The bank reported that it had net income of $489 million, or 81 cents a share, for the quarter ended Feb. 29, beating analyst estimates of earnings of 72 cents a share. But the broker's first-quarter net income dropped 57% as the firm was slammed by mark-to-market adjustment of $1.8 billion. Lehman shares closed up $14.74 or 46.43% to $46.49, the largest single-day jump in the bank's history. One day earlier, the stock made history with its biggest one-day percentage loss since becoming a public company in 1994.
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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