LocateStock.com Daily High Five For Wednesday July 23, 2008

Jersey City, NJ – July 23, 2008

The LocateStock.com HIGH FIVE for Wednesday, July 23^rd are:

                       
5 – UAL Corporation – NASDAQ:UAUA

4 – Wachovia Corporation – NYSE:WB

3 – Fannie Mae – NYSE:FNM

2 – Freddie Mac – NYSE:FRE

1 – Bank of America – NYSE:BAC

 

UAL Corporation (NASDAQ:UAUA) offers air transportation services. The company, through its subsidiary, United Air Lines, Inc., provides transportation of persons, property, and mail in the United States and internationally.

* United Airlines posted big losses Tuesday, though its stock surged 68.54% as the company beat Wall Street earnings estimates. United Airlines parents, UAL Corp. said it lost $2.73 billion, or $21.47 per diluted share, in the second quarter. Most of the loss stems from $2.6 billion in accounting charges. Shares of UAUA rose $3.42 to $8.41.

Wachovia Corporation, (NYSE:WB) a financial holding company, provides commercial and retail banking services, and other financial services in the United States and internationally. Its deposit products include savings, NOW, money market, and interest-bearing checking accounts, as well as noninterest-bearing deposits and other consumer time deposits.

* Shares of Wachovia gained 27.39% Tuesday and sparked another rally in regional banking stocks after it said it would not need to raise new capital. The shares had fallen after the company said it took $6.1 billion of write-downs for bad investments related to the mortgage and credit crises and increased its write-off and loan-loss provisions. That brought the company to a second-quarter loss and prompted its second dividend cut this year. Shares of WB rose $3.61 to $13.79 on the news.

 

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.

 

* A Bush administration plan to support Fannie Mae and Freddie Mac could cost U.S. taxpayers $25 billion, congressional analysts said on Tuesday in a report that fueled debate as Congress took steps to approve a housing market rescue package. Shares of Fannie fell 72 cents or 5.10% to $13.41 on the news.

 

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.

* A Bush administration plan to support Fannie Mae and Freddie Mac could cost U.S. taxpayers $25 billion, congressional analysts said on Tuesday in a report that fueled debate as Congress took steps to approve a housing market rescue package. Shares of Freddie gained 95 cents or 10.86% to $9.70 on the news.

Bank of America Corporation, (NYSE:BAC) a financial holding company, provides a range of banking and nonbanking financial services and products in the United States and internationally. The company's Global Consumer and Small Business Banking segment offers savings accounts, money market savings accounts, certificate of deposits, individual retirement accounts, regular and interest-checking accounts, and debit cards; U.S. Consumer and Business Card, unsecured lending, and international card; consumer real estate products, including mortgage products for home purchase and refinancing, reverse mortgage products, and home equity products; and insurance services.

* Bank of America was the biggest gainer on the Dow Tuesday, jumping 13.27% after the bank on Monday became the fourth in a string of banks to surpass earnings forecasts. Shares of BAC added $3.79 to close at $32.35 on Tuesday.

 

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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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

 

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SOURCE:        Locate Stock, LLC