LocateStock.com Daily High Five For Wednesday March 26, 2008

Jersey City, NJ – March 26, 2008

The LocateStock.com HIGH FIVE for Wednesday, March 26^th are:

 

5 – MGIC Investment Corp – NYSE:MTG

4 – Thornburg Mortgage – NYSE:TMA

3 – Bear Stearns – NYSE:BSC

2 – Lehman Brothers – NYSE:LEH

1 – Sirius Satellite Radio – NASDAQ:SIRI

MGIC Investment Corporation, (NYSE:MTG) through its subsidiary, provides private mortgage insurance to the home mortgage lending industry in the United States. The private mortgage insurance covers residential first mortgage loans and expands home ownership opportunities by enabling people to purchase homes.

* MGIC Investment Corp.'s stock plunged Tuesday after the mortgage insurer unveiled a plan to sell a big chunk of itself in exchange for enough cash to expand its business. The Milwaukee-based company is selling 37.3 million shares to raise $420 million, plus giving the underwriter, Banc of America Securities, options to buy up to 5.6 million additional shares. Along with the sale of $325 million in bonds entitling the holder to convert into common stock, MGIC could be expanding its share count by more than 60 million shares, implying the company is selling a roughly 40 percent stake in itself. MTG lost $1.05 or 7.89% to $12.25 on Tuesday.

Thornburg Mortgage, Inc. (NYSE:TMA) operates as a single-family residential mortgage lending company. It originates, acquires, and retains investments in adjustable and variable rate mortgage (ARM) assets.

* Mortgage lender and investor Thornburg Mortgage said Tuesday it will raise $1.35 billion through a private-placement deal to help keep the company in business and avoid bankruptcy. Shares of TMA rose 46 cents or 36.35% to $1.73 on the news.

 

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.

 

* Two pension funds may ask a Delaware court for an emergency order to stall JPMorgan Chase from moving forward with its takeover of Bear Stearns, a plaintiff's lawyer said on Tuesday. Shares of BSC fell 31 cents or 2.76% to $10.94 after rocketed 89% one day earlier.

 

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.

* An analyst at Fox-Pitt Kelton Cochran Caronia Waller on Tuesday cut his fiscal second-quarter profit forecast on Lehman Brothers to $1.48 from $1.97 a share. David Trone also lowered the full-year estimate to $5.54 from $6.33 a share, while his 2009 outlook dropped to $7.63 a share from $8.91, and the price target on the stock was lowered to $70 from $83. Shares of LEH fell an additional $1.43 or 3.07% to $45.21 after falling more than 4% the previous day.

Sirius Satellite Radio, Inc. (NASDAQ:SIRI) provides satellite radio services in the United States. It offers commercial-free music channels that provide a selection of music genres, such as rock, pop, hip-hop, country, dance, jazz, Latin, and classical; and channels of sports, news, talk, entertainment, traffic, weather, and data content.

* Just one day after the Justice Department gave the XM-Sirius merger the go-ahead, it was reported that the Federal Communications Commission is likely to approve the acquisition as well. The Justice Department said the proposed $4.59 billion transaction would not reduce competition, and could therefore not be opposed on antitrust grounds.

Shares of SIRI lost 6 cents or 1.90% to $3.09 after rising more than 8.5% on the news Monday.

 

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.

LocateStock.com is the premier electronic securities lending company providing revolutionary, real-time, hard-to-borrow stock locates and market data to hedge funds and professional traders seeking an efficient and private way to borrow stock associated with short sales. The Company recently launched LocateStock TV, a daily financial news show that highlights stock inventory that is available for short sellers to legally borrow and stay in compliance with Regulation SHO. 

For an in-depth market analysis on each individual, hard to borrow stock, tune in daily to LocateStock TV, on http://www.locatestock.com/pressrelease.html

 

CONTACT:     pressrelease@locatestock.com / 201-332-6800

SOURCE:        Locate Stock, Inc.