LocateStock.com Daily High Five For Friday April 11, 2008

Jersey City, NJ – April 11, 2008

The LocateStock.com HIGH FIVE for Friday, April 11^th are:

 

5 – Irwin Financial – NYSE:IFC

4 – Sirius Satellite Radio – NASDAQ:SIRI

3 – Washington Mutual – NYSE:WM

2 – First Marblehead – NYSE:FMD

1 – Lehman Brothers – NYSE:LEH

 

Irwin Financial Corporation (NYSE:IFC) operates as the bank holding company of Irwin Union Bank and Trust Company and Irwin Union Bank, F.S.B., which provide various financial products and services in the United States and Canada. The company operates in three segments: Commercial Banking, Commercial Finance, and Home Equity Lending.

* Irwin Financial said last Friday that the bank lost more money than it thought in the fourth quarter because more home-equity loan borrowers are missing payments on their loans. Irwin Financial, which initially reported a loss of $16.4 million for the fourth quarter, on Friday revised the loss to $26 million. Shares of IFC plummeted 70 cents or 14.08% to $4.27 and hit a new intra-day low of $4.08 on Thursday.

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.

* Wisconsin Attorney General J.B. Van Hollen wants federal regulators to block a deal to join the nation's only two satellite radio companies. The U.S. Justice Department decided earlier this month to permit Sirius Satellite Radio's proposed $5 billion buyout of rival XM Satellite Radio Holdings. The Federal Communications Commission still has to sign off on the deal. Shares of SIRI are down 6 cents or 2.3% to $2.55 on Thursday.

Washington Mutual, Inc., (NYSE:WM) together with its subsidiaries, operates as a consumer and small business banking company in the United States. It operates in four segments: Retail Banking Group, Card Services Group, Commercial Group, and Home Loans Group.

* CalSTRS, potentially one of the institutional investors behind Washington Mutual's $7 billion cash infusion, is planning to withhold votes from some members of its board of directors up for re-election at the company's annual meeting Tuesday. The California State Teachers' Retirement System (CalSTRS), with $173 billion of assets under management, said it is concerned with the bank's risk management procedures, its exposure to the subprime market and its controversial executive bonus plan, said Rich Ferlauto, director of corporate governance for the American Federation of State, County and Municipal Employees (AFSCME). Shares of WM fell 3 cents or .26% to $11.42 on Thursday.

The First Marblehead Corporation (NYSE:FMD) together with its subsidiaries, provides outsourcing services for private education lending in the United States. It provides an integrated suite of design, implementation, and securitization services for student loan programs to national and regional financial institutions and educational institutions, as well as businesses, education loan marketers, and other enterprises.

* First Marblehead will not be able to raise as much money from an investment by Goldman Sachs Group because of the turmoil in the bond market and the bankruptcy of a crucial partner, the student loan services provider said Thursday. The Boston-based company's stock plummeted more than 20% to its cheapest trade ever. First Marblehead helps banks like JPMorgan Chase and Bank of America package their student loans into bonds and sell them to investors. Shares of FMD dropped 14 cents or 3.02% to $4.49 on the news, after hitting a new low earlier in the day.

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 said Thursday that it had liquidated three investment funds in its first quarter after "market disruptions". The value of the assets held by these funds was about $1bn. Lehman said it had also bought some "deteriorated assets" from certain funds for $800m. Both sets of assets were included in the company's earnings report on 29 February, and are now managed in its capital markets fixed income business. Shares of LEH fell 29 cents or .72% to $40.25 Thursday and are down about 10% so far this week.

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, LLC