Monday, August 25, 2008
LocateStock.com Daily High Five For Monday August 25, 2008
 

Jersey City, NJAugust 25, 2008

 

The LocateStock.com HIGH FIVE for Monday, August 25th are:

                       

5 – Freddie Mac – NYSE:FRE

4 – Wachovia – NYSE:WB

3 – DryShips – NASDAQ:DRYS

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.

* Moody's Investors Service slashed ratings on preferred stock of Freddie Mac by five notches, to just above the "junk" level. The move highlighted the risk that it won't be able to pay dividends on the shares. Shares fell 35 cents or 11.08% to $2.81. The stock lost 52% last 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 said it will open its first full-service retail branch in downtown Los Angeles early next year. The move follows the July opening of the company's wholesale and government banking office in the city. Shares of WB lost 29 cents or 1.98% to $14.36 on Friday.

DryShips, Inc. (NASDAQ:DRYS) engages in the ownership and operation of drybulk carriers worldwide. The company's fleet carries various drybulk commodities, including coal, iron ore, and grains, bauxite, phosphate, fertilizers, and steel products.

* Greek drybulk shipper DryShips said its second-quarter profit nearly tripled but was well below what analysts had expected. DryShips said it earned $299.8 million, or $7.10 per share, up from $110.8 million, or $3.12 per share, during the same period a year ago. The company said its results were boosted by a $135.8 million one-time gain from the sale of the three ships, and a $12.2 million gain associated with the valuation of interest rate swaps. Stripping out those items, the company earned $151.8 million, or $3.60 per share. Analysts surveyed by Thomson Reuters were expecting an adjusted profit of $4.57 per share. DRYS lost $2.31 or 3.15% to $71.09 on the news Friday.

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 ended higher Friday on talk of a possible acquisition. The stock added 69 cents or 5.03% to $14.41 after spiking at the start of the day on a report that Korea Development Bank had said the Lehman was one of its options for acquisition.

 

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 slashed ratings on preferred stock of Fannie Mae by five notches, to just above the "junk" level. The move highlighted the risk that it won't be able to pay dividends on the shares. Shares rose 15 cents or 3.09% to $5.00. The stock lost 37% last 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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