Nov. 12 was a day full of lows; the major indices were down on average more than 5%. Here are a few of the day’s winners and sample of the many losers. To note: since the election 488 of the 500 stocks in the S&P 500 are trading lower.
Winners
General Motors Corp. (GM)
The automotive giant got a boost today from the proposed bailout by House Speaker Nancy Pelosi. The stock was up nearly 5.5% to $3.08. The 16 cent rise helps bring GM off 65+ year lows.
Unisys Corp. (UIS)
The IT services provider continued to rise since being bumped from the S&P 500. The stock climbed another three cents today to close at an even 75 cents. Reports also noted that the new CEO had recently purchases over 140,000 shares.
Fiserv Inc. (FISV)
The financial IT service provider was up 87 cents, or 2.72%, Wednesday as the company continues to rebound from a massive third-quarter fall. It has made recent acquisitions and partnerships with small banks that have helped stock finish at $32.86.
AES Corp. (AES)
The energy provider had recently adjusted its guidance after posting lower than expected earnings per share earlier this month. News of increased capital coming from its Chilean subsidiary has helped the stock come of its lows just a week ago. The stock was up 2.37%, or 17 cents, and closed at $7.35.
Ford Motor Co. (F)
The automotive giant got a much-needed boost from House Speaker Pelosi’s encouragement of a bailout. The stock was up just over 2%, and the four-cent increase may just be temporary if a bailout is not in the near future. Ford finished the day trading at $1.84.
Losers
General Growth Properties: (GGP)
Things go from bad to worse for the mall owner. The stock closed down another 36.6% to finish trading at 31 cents a share, with a possible bankruptcy in the company’s future. The S&P 500 has also announced that it is going to drop the company from its index effective Friday.
Prologis (PLD)
The world’s largest warehouse developer saw prices plunge after a number of recent developments. The company’s cut its dividends 50%. CEO Jeffrey Schwartz recently resigned, and there a number of job cuts in the works to try to save capital. All this combined drop the stock down nearly 35%, or $2.40 a share, to close at $4.47.
AK Steel Holding Corp. (AKS)
After news of plant closings in Kentucky and Ohio, the stock dropped 25%. This added to reports that the company has lowered its shipping outlook for the next quarter. The stock was down $2.53 to close at $7.73.
JDS Uniphase Corp. (JDSU)
With continued cuts in consumer spending the electronics part manufacturer saw shares fall over 24.5%. News came late last month that the current CEO is leaving in the New Year did noting to stop its three-month decline. The stock finished at $3.19, losing $1.04 a share.
Sprint Nextel Corp. (S)
The stock fell after Barclays Capital and Deutsche Bank lowered their earnings forecast in response to a weak third quarter that saw wireless subscribers drop by 1.3 million. Shares dropped 23% Wednesday to close at $1.95.
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