The major indices remained relatively flat to end the week after a huge swing to the upside Friday morning, with news that General Motors (GM) and Chrysler will receive more than $17 billion from the government. As oil settled at $33 on the last day with January as the front-month contract, here are some of the day’s winners and losers.
Winners
General Motors Corp. (GM)
The big winner from the auto bailout, GM is set to receive billions to try to revamp sales and avoid bankruptcy. The auto maker saw shares rise 83 cents, or nearly 23%, to close at $4.49.
Darden Restaurants Inc. (DRI)
The Red Lobster and Olive Garden owner shocked investors as it saw November a big rise in sales, despite a less-than-favorable forecast from analysts. The stock gained nearly 20% Friday, up $4.74 to $28.72.
Micron Technology Inc. (MU)
The semiconductor producer cheered news that Hynix Semiconductor Inc. is cutting production as demand continues to slide. Shares rose 14.5%, or 38 cents, on Friday to end the week at $2.99.
LSI Corp. (LSI)
After lowering fourth-quarter guidance, the stock responded positively, gaining 44 cents, or 12.8%, to end the week at $3.88.
Office Depot Inc. (ODP)
A bright spot for the office supplies retailer; maybe some people needed pens for Christmas. The stock increased 29 cents, or 13.6%, to $2.79 on nearly 8.8 million shares traded.
Losers
Cintas Corp. (CTAS)
After releasing poor quarterly numbers Friday morning, the stock dropped significantly and failed to recover. It closed down $3.19, or 12.5%, to end the week at $22.35.
Weyerhaeuser Co. (WY)
An apparent cutback in use of timber and timber-related products has hit WY, which lost $3.51, or 9.45% on the day to close at $33.62.
M&T Bank Corp. (MTB)
Apparently the company’s acquisition of Provident Bankshares Corporation is not impressing people, as shares fell $3.76, or 6.3%, to end the week at $55.96.
Tenet Healthcare Corp. (THC)
The health-care facilities provider had news that it was cutting jobs in South Carolina, and the issues in that state can be felt across the country as growing economic pressures have hampered the company throughout much of the last quarter. The stock fell 6%, or seven cents, to $1.06.
Fluor Corp (FLR)
Citigroup lowered the company’s rating to sell, which didn’t help the stock -- it lost nearly 6%, or $2.79, to close at $45.26.
Market Winners & Losers: Equity Residential, E*Trade
Dana to cut jobs, close plants
