LocateStock.com Daily High Five For Friday July 18, 2008

Jersey City, NJ – July 18, 2008

The LocateStock.com HIGH FIVE for Friday, July 18^th are:

                       
5 – Washington Mutual – NYSE:WM

4 – JP Morgan Chase – NYSE:JPM

3 – Freddie Mac – NYSE:FRE

2 – Lehman Brothers – NYSE:LEH

1 – Fannie Mae – NYSE:FNM

 

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.

* Shares of national bank Washington Mutual rose sharply Wednesday, getting a boost from better-than-expected earnings results at Wells Fargo and a significant rise in the broader market. Washington Mutual shares continued their rally on Thursday, gaining 46 cents or 10.15% to $4.99 after rocketing more than 25% the day before.

JP Morgan Chase & Co., (NYSE:JPM) a financial holding company, provides a range of financial services worldwide. The company operates through six segments: Investment Bank, Retail Financial Services, Card Services, Commercial Banking, Treasury and Securities Services, and Asset Management.

* JP Morgan rallied Thursday on news that the brokerage beat market expectations with earnings of 54 cents a share after incurring a $540 million loss linked to the acquisition of troubled investment bank Bear Stearns. Analysts surveyed by Reuters had forecast JP Morgan's earnings at 44 cents a share. Shares surged $4.86 or 13.52% to $40.80 on Thursday.

Freddie Mac (NYSE:FRE) engages in mortgage purchasing, credit guarantee, and portfolio investment activities in the United States. It purchases single-family and multi-family residential mortgages, and mortgage-related securities from lenders in the primary mortgage market that originate mortgages for homebuyers, including mortgage banking companies, commercial banks, savings banks, community banks, credit unions, state and local housing finance agencies, and savings and loan associations.

* Fannie and Freddie rallied for a second straight day after Freddie Mac completed its second successful debt sale this week, calming fears after a government bailout of the mortgage-finance companies. Shares of Freddie added $1.50 or 21.96% to $8.33 on Thursday after rocketing 30% the day before. The stock is up 17% this week.

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 and other financials rallied on news that JP Morgan Chase beat market expectations with earnings of 54 cents a share after incurring a $540 million loss linked to the acquisition of troubled investment bank Bear Stearns. Analysts surveyed by Reuters had forecast JP Morgan's earnings at 44 cents a share. Shares of LEH rose $2.25 or 13.51% to $18.90 after rocketing 26% the day before. Shares are up more than 52% this week.

Fannie Mae (NYSE:FNM) provides funds to mortgage lenders through the purchase of mortgage assets, and issues and guarantees mortgage-related securities that facilitate the flow of funds into the mortgage market in the United States. It operates in three segments: Single-Family Credit Guaranty, Housing and Community Development, and Capital Markets.

 

* Fannie and Freddie rallied for a second straight day after Freddie Mac completed its second successful debt sale this week, calming fears after a government bailout of the mortgage-finance companies. Shares of Fannie added $1.68 or 18.16% to $10.93 after rocketing 31% the day before. The stock is up more than 12% 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.

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SOURCE:        Locate Stock, LLC