LocateStock.com Daily High Five For Tuesday May 13, 2008

Jersey City, NJ – May 13, 2008

The LocateStock.com HIGH FIVE for Tuesday, May 13^th are:

5 – Countrywide Financial – NYSE:CFC

4 – DryShips – NASDAQ:DRYS

3 – Lehman Brothers – NYSE:LEH

2 – Cheniere Energy – AMEX:LNG

1 – BlackRock Corporate High Yield Fund – NYSE:COY

Countrywide Financial Corporation, (NYSE:CFC) a holding company, engages in mortgage lending and other finance-related operations. The company operates in five segments: Mortgage Banking, Banking, Capital Markets, Insurance, and Global Operations.

* Countrywide Financial is facing headwinds in its efforts to close a deal to sell itself to Bank of America. Standard & Poor's earlier this month downgraded Countrywide's debt to junk status and Charlotte, N.C.-based BofA said in a regulatory filing that it is reconsidering whether it will take on all of Countrywide's debt in the deal. Analysts increasingly are questioning whether the $4.1 billion deal can get done under the current terms. Shares of CFC rose 18 cents or 3.90% to $4.79 on Monday.

DryShips, Inc. (NASDAQ:DRYS) engages in the ownership and operation of drybulk carriers worldwide. The company's fleet carries various drybulk commodities, including coal, iron ore, and grains, bauxite, phosphate, fertilizers, and steel products.

* DryShips announced last Thursday that it purchased 7,546,668 shares in Ocean Rig ASA at a price of NOK 45 per share from companies controlled by the Company's Chief Executive Officer, George Economou, representing approximately 4.4% of the share capital of Ocean Rig ASA. Shares of DRYS rose $4.68 or 5.09% to $96.64 on Monday.

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, long known for its fixed-income capital markets strength, boasts more than 21% of a shrinking merger and acquisitions market, its chief financial officer said Monday. But the firm's capture of 21.5% of the M&A market on announced deals year to date from 17.5% last year shows the loyalty of its customers and the developing strength of its worldwide capabilities. Shares of LEH rose $1.18 or 2.71% to $44.72 on Monday.

Cheniere Energy, Inc., (AMEX:LNG) through its subsidiaries, engages in the development, construction, ownership, and operation of onshore liquefied natural gas (LNG) receiving terminals and natural gas pipelines along the Gulf Coast of the United States. It develops LNG receiving terminal projects on Sabine Pass LNG in western Cameron Parish, Louisiana on the Sabine Pass Channel; Corpus Christi LNG near Corpus Christi, Texas; Creole Trail LNG at the mouth of the Calcasieu Channel in central Cameron Parish, Louisiana; and Freeport LNG on Quintana Island near Freeport, Texas.

 

* Cheniere Energy plummeted to a new 52-week low of $3.65 on Monday. Citigroup downgraded the Houston firm to hold from buy, and RBC Capital Markets downgraded it to underperform from outperform. On Friday, Cheniere had posted a first-quarter loss of $49.9 million, or $1.06 a share, vs. a loss of $34.6 million, or 63 cents a share, a year ago. The Street was looking for a loss of $1.08 a share. Shares closed down 34 cents or 6.37% to $5.00 Monday after shedding more than 32% on Friday.

 

BlackRock Corporate High Yield Fund, Inc. (NYSE:COY) operates as a diversified, closed-end management investment company. It invests primarily in corporate bonds, preferred stocks, and short-term securities.

* Shares of the BlackRock Corporate High Yield Fund fell Monday on no news. Shares of COY were down 2 cents or .27% to $7.47.

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.

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SOURCE:        Locate Stock, LLC