Friday, August 22, 2008
LocateStock.com Daily High Five For Friday August 22, 2008

Jersey City, NJAugust 22, 2008

 

The LocateStock.com HIGH FIVE for Friday, August 22nd are:

                       

5 – Freddie Mac – NYSE:FRE

4 – AMR Corporation – NYSE:AMR

3 – Wachovia – NYSE:WB

2 – Lehman Brothers – NYSE:LEH

1 – Fannie Mae – NYSE:FNM

 

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.

* Speculation has been building on Wall Street that a government investment to rescue Freddie Mac would come in the form of a cash infusion through the acquisition of preferred shares in the company. Those shares, which pay a bond-like yield, get preference over common shares in the event a company is liquidated. Freddie lost 9 cents or 2.77% to $3.16 on Thursday and is down more than 45% this week.

AMR Corporation (AMR), (NYSE:AMR) through its subsidiaries, operates as a scheduled passenger airline in the United States. The company, through its principal subsidiary, American Airlines, Inc., provides scheduled jet service to approximately 170 destinations throughout North America, the Caribbean, Latin America, Europe, and Asia.

 

* Most of the major airline stocks took a dive during Thursday afternoon trading, as the price of oil surged more than $5. A report said that the average cost to fly one mile in the U.S. on a commercial airliner rose 7.5% in July compared to the same month last year. Shares of AMR lost an additional 27 cents or 2.71% to $9.68 and are down more than 17% so far this week.

 

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.

 

* Wachovia shares fell Thursday after an analyst from Friedman, Billings, Ramsey reinitiated coverage of the bank at "Underperform," due to its significant exposure to troubled mortgage loans. Wachovia lost 25 cents or 1.68% to $14.65 on Thursday.

Wachovia

 

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 lost .07% on Thursday as the firm found itself under the gun once again. One newspaper report suggested that an asset sale to China's largest brokerage fell through and a separate report suggested the Fed was probing market rumors that Credit Suisse was about to pull a credit line out from under Lehman. Shares fell 1 cent to $13.72.

 

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.

 

* Speculation has been building on Wall Street that a government investment to rescue Fannie Mae would come in the form of a cash infusion through the acquisition of preferred shares in the company. Those shares, which pay a bond-like yield, get preference over common shares in the event a company is liquidated. Fannie gained 45 cents or 10.23% to $4.85 but is still down more than 38% 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.

 

LocateStock.com is the premier electronic securities lending company providing revolutionary, real-time, hard-to-borrow stock locates and market data to hedge funds and professional traders seeking an efficient and private way to borrow stock associated with short sales. LocateStock TV is a daily financial news show that highlights stock inventory that is available for short sellers to legally borrow and stay in compliance with Regulation SHO. 

 

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

 

CONTACT:     pressrelease@locatestock.com / 201-332-6800

SOURCE:        Locate Stock, LLC

 

 

 

 

 


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