Tuesday, August 26, 2008
LocateStock.com Daily High Five For Tuesday August 26, 2008

     

Jersey City, NJAugust 26, 2008

 

The LocateStock.com HIGH FIVE for Tuesday, August 26th are:

                       

5 – Doral Financial – NYSE:DRL

4 – Wachovia – NYSE:WB

3 – Freddie Mac – NYSE:FRE

2 – Fannie Mae – NYSE:FNM

1 – Lehman Brothers – NYSE:LEH

 

Doral Financial Corporation, (NYSE:DRL) through its subsidiaries, provides a range of financial services primarily in Puerto Rico and New York. The company operates through four segments: Mortgage Banking, Banking, Insurance Agency, and Institutional Securities.

 

* On Friday Doral Financial reported a significantly narrower loss for the second quarter on a rise in interest income and a fall in provision for bad loans, sending its shares up as much as 20%. But on Monday, news that the lender posted a loss of $6.7 million, or 12 cents a share, compared with a loss of $45.8 million, or $8.49 a share, last year, had shares falling. DRL fell 82 cents or 6.07% to $12.68 on Monday.

 

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.

* Late last week 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 began the week down 44 cents or 3.06% to $13.92 on Friday.

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.

* Shares of Freddie Mac rebounded 17.08% on Monday as solid demand for a $2 billion debt auction showed the troubled mortgage company is still able to raise capital, even if the markets demand higher yields. Freddie shares rallied after the company sold $1 billion in three-month bills Monday at a rate of 2.58% and $1 billion in six-months bills at 2.858%. Freddie closed the session up 48 cents to $3.29 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.

 

* Shares of Fannie Mae soared Monday after Freddie Mac completed a $2 billion debt sale and a Wall Street analyst said a government bailout of the mortgage finance giants may not be inevitable. Shares rose 19 cents or 3.80% to $5.19.

 

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.

 

* CNBC reported that a top South Korean regulator voiced concern about state-run Korea Development Bank's interest in buying Lehman, meanwhile, the list of potential bidders for the bank's asset management business, which includes Neuberger Berman, is growing shorter. Shares of Lehman fell 96 cents or 6.66% to $13.45 on Monday.

 

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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