It really did not matter what happened in the broader market. Washington Mutual (NYSE: WM) and Lehman (NYSE: LEH) were dismantled by the credit crisis. There are still plenty of questions about whether either will make it. Both stocks hit multi-year lows.
DJIA 11,268.92 +0.34%
S&P500 1,232.04 +0.61%
NASDAQ 2,228.70 +0.85%
10YR T-Note 3.410% +0.0450
52-Week Lows
Top Analyst Upgrades
Top Analyst Downgrades
FedEx Corp. (NYSE: FDX) traded up after raising guidance for earnings in the coming quarter, and said it was reaffirming its Fiscal earnings because the benefits of lower fuel prices were being offset by a weak economy and therefore weaker orders. Shares were up 3.8% in the final minutes of trade.
GFI Group (NASDAQ: GFIG) traded down over 25% after the firm announced its negotiations with Tullet Prebon have fallen apart and no merger is going to take place. As the firm is active in OTC derivative contracts and as the number of players is rapidly sinking, the value is perceived as far less on a go-it-alone strategy.
SIRIUS XM Radio (NASDAQ: SIRI) shares did what many have hoped would never happen -- they dipped under $1.00 after analyst comments hit the stock further based upon yesterday's unfavorable guidance. Shares were down
Texas Instruments (NYSE: TXN) was up much more last night than today after the mobile and communications chip maker reaffirmed its revenue targets in a tighter range that was within guidance given with last earnings. This helped defy some trends seen in other major mobile companies. Shares closed down 14%.
Washington Mutual had its turn to be in the barrel today on new rumors and financing concerns, particularly with the billions of dollars in "Pay Option ARM" mortgages. The good news is that the stock came back off its lows, but the bad news is that shares were down over 28% in the final minutes of trading.
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