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Battered financier and derivatives firm ACA Capital Holdings (NYSE: ACA) took a sharp turn for the better Wednesday, climbing 21.4% to $7.10 from its opening $5.85 as it reported a second-quarter loss of $2.55 per diluted share. The gain of $1.25 boosted ACA shares back over halfway under $13, the price of its initial public offering last November 9.
Trading volume was more than double its average, with 1,806,300 shares swapping hands.
As elsewhere in the lending industry, ACA Capital shares have been sacked by the deteriorating subprime mortgage market, dropping from a high of $16.55, posted on February 22.
ACA Capital manages assets for participants in the global credit derivatives markets, structured finance capital markets and public finance capital markets. Learn more at www.aca.com.
Major mover: ACA Capital Holdings (ACA)
Posted Aug 1st 2007 3:55PM by Barry Summerlin
Filed under: Major Movement
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