LocateStock.com Daily High Five For Thursday July 31, 2008

Jersey City, NJ – July 31, 2008

The LocateStock.com HIGH FIVE for Thursday, July 31^st are:

                       
5 – Fannie Mae – NYSE:FNM

4 – Citigroup – NYSE:C

3 – Lehman Brothers – NYSE:LEH

2 – Bank of America – NYSE:BAC

1 – Merrill Lynch – NYSE:MER

 

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.

 

* On Wednesday the Mortgage Bankers Association said mortgage application volume tumbled last week to its lowest level of the year, down 14% during the week ending July 25, even as interest rates on fixed-rate mortgages retreated from sharp increases a week earlier. Shares of FNM rose an additional rose 61 cents or 5.26% to $12.21 after rising 12.5% on Tuesday.

 

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.

 

* A detailed comparison of Merrill Lynch's and Citigroup's asset-backed securities/collateralized-debt obligation (ABS-CDO) valuations shows that Merrill has marked its assets at 33 cents to face value while Citi is carrying at 46 cents. Shares of Citi rose 36 cents or 1.95% to $18.81 on Wednesday after surging 6% on Tuesday.

 

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 Lehman Brothers surged for a second straight session on Wednesday after the Federal Reserve announced it will expand its emergency borrowing program. The move eased concerns by investors that the nation's fourth-largest investment bank might run into deep liquidity problems because of the ongoing credit crisis. Shares rose $1.35 or 8% to $18.23 after rocketing 10.5% on Tuesday.

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.

* Shares of national banks rose Wednesday as the Federal Reserve's extension of its emergency borrowing program helped buoy financial stocks. Wachovia shares rocketed as did the #2 stock, Bank of America. Shares of BAC added $1.39 or 4.31% to $33.61 on Wednesday after rising 15% a day earlier.

Merrill Lynch & Co., Inc., (NYSE:MER) together with its subsidiaries, provides investment, financing, insurance, and related services to individuals and institutions worldwide. It's Global Markets and Investment Banking segment offers various global market services, which facilitate client transactions and markets in securities, derivatives, currencies, commodities, and other financial instruments for clients; provides financing, securities clearing, settlement, and custody services; and engages in principal and private equity investing and proprietary trading activities.

* Merrill Lynch Canada Ltd. announced on Wednesday that its Board of Directors approved a quarterly cash dividend of Cdn $0.36 per Exchangeable Share. The dividend is payable on September 3, 2008 to shareholders of record on August 14, 2008. Shares of MER rose 66 cents or 2.51% to $26.91 on Wednesday after rocketing 8% the day before.

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