Thursday saw oil reach lows not seen in over four years, as well as news of continued General Motors (GM) and General Electric (GE) troubles. The major indices were down 2.1% as the week nears an end.
Here are some of the session’s winners and losers:
Winners
Micron Technology Inc. (MU)
Shares of the chip maker rose more than 20% Thursday on news that a competitor is cutting production and that a rising cost in product will help in coming quarters. The stock last traded at $2.61, a gain of 44 cents.
XL Capital Ltd. (XL)
Rumors of a possible takeover helped shares climb 10.4% on the day. The stock closed at $3.93, gaining 37 cents on 24.4 million shares traded.
Coca-Cola Enterprises Inc. (CCE)
The soft drink manufacturer strengthened its full-year outlook based mostly on solid sales. The stock gained 89 cents, or 8.33%, closing at $11.58.
Discover Financial Services (DFS)
The company’s attempts to seek bank holding status to secure its credit line -- in addition to posting a profit in the third quarter -- helped the stock gain 68 cents, or 7.9%, on Thursday to $9.26.
Pepsi Bottling Group Inc. (PBG)
Benefiting from CCE’s success, PBG watched shares climb nearly 8%, or $1.51, on Thursday, to close at $21.01.
Losers
General Motors Corp. (GM)
After denying reports that it was currently in talks with Chrysler over a merger of its manufacturing operations, the stock fell 16% on the day. The stock closed at $3.66, a loss of 71 cents.
Federated Investors Inc. (FII)
The company followed suit with the sector, losing $3.17, or 16%, Thursday to finish at at $16.59.
Nabors Industries Ltd. (NBR)
As oil hit 4½-year lows, the land-drilling contractor watched shares fall nearly 16%, or $2.07. The stock closed at $10.92.
ENSCO International Inc. (ESV)
This was another stock hit by the falling price of crude. The offshore drilling contractor watched the stock drop $4.41, or 13%, on the day, closing at $27.62.
MEMC Electronic Materials Inc. (WFR)
MEMC was just one of many semiconductor manufacturers getting hit by falling commodity prices. Shares were down $1.05, or 13%, on Thursday to close at $14.52.
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