LocateStock.com Daily High Five For Friday July 25, 2008

Jersey City, NJ – July 25, 2008

The LocateStock.com HIGH FIVE for Friday, July 25^th are:

                       
5 – Lehman Brothers – NYSE:LEH

4 – Fannie Mae – NYSE:FNM

3 – Citigroup – NYSE:C

2 – Freddie Mac – NYSE:FRE

1 – Bank of America – NYSE:BAC

 

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.

 

* Shares of investment banks including Lehman, fell Thursday along with the broader market after a new report from the National Association of Realtors showed steeper-than-expected declines in sales of existing homes in June. In other news, the city of Los Angeles sued more than 30 municipal bond insurers and Wall Street investment banks, including Lehman, accusing them of fraud and antitrust that it said cost taxpayers millions of dollars. In the lawsuit the city accused the firms of colluding to rig the bidding process that was supposed to result in the most competitive rates for the investments, which included guaranteed investment contracts and swaps. Shares of Lehman fell $2.58 or 12.23% to $18.52 on Thursday.

 

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.

 

* Moody's Investors Service said Thursday that although extending aid to Fannie and Freddie could test the resiliency of the U.S. government balance sheet, it would not endanger the U.S. government's strong Aaa rating. Shares of Fannie plunged $2.98 or 19.87% to $12.02 and are down 15% so far this week.

 

Citigroup, Inc., (NYSE:C) together with its subsidiaries, provides a range of financial products and services to consumer and corporate customers in the United States and internationally. The company's Global Consumer Group segment offers various banking, lending, insurance, and investment products and services through its branches, automated teller machines (ATMs), and automated lending machines (ALMs), the Internet, telephone, and mail.

 

* Shares of investment banks including Citigroup, fell Thursday along with the broader market after a new report from the National Association of Realtors showed steeper-than-expected declines in sales of existing homes in June. In other news, the city of Los Angeles sued more than 30 municipal bond insurers and Wall Street investment banks, including Citi, accusing them of fraud and antitrust that it said cost taxpayers millions of dollars. In the lawsuit the city accused the firms of colluding to rig the bidding process that was supposed to result in the most competitive rates for the investments, which included guaranteed investment contracts and swaps. Shares of C lost $2.06 or 9.75% to $19.06 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.

* Moody's Investors Service said Thursday that although extending aid to Fannie and Freddie could test the resiliency of the U.S. government balance sheet, it would not endanger the U.S. government's strong Aaa rating. Shares of Freddie lost $1.99 or 18.43% to $8.81 and is down 4% so far on the week.

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 made an aggressive hire on Thursday, with sources saying BofA's latest hire is Chris Hogg, a longtime Goldman Sachs executive who was in charge of the Wall Street firm's unit that helps its financial institutions clients raise money. Earlier this week the company surprised with better-than-expected results and announced a $3.75 billion stock repurchase program. Shares of BAC fell $2.80 or 8.37% to $30.64 after gaining significant market share back earlier in the 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