Monday proved to be yet another wild day for the markets. News of major M&A within the pharmaceutical sector helped counteract the slew of layoff announcements that could have driven the stocks to end in the red. The major indices finished the day up 0.62% on average.
Here are some of today’s winners and losers:
Winners
Lennar Corp. (LEN)
A Citi upgrade helped bump the stock more than 14% on Monday. Shares finished the trading day at $7.82, a gain of 98 cents.
AutoNation Inc. (AN)
While the major auto makers continue to flounder, one of the nation’s largest parts supplier saw gains of 10.2% on Monday. The stock finished the session at $8.97 a gain of 83 cents.
Quest Diagnostics Inc. (DGX)
A positive outlook for 2009 drove Quest’s gains on Monday. An analyst projected the diagnostic-testing provider to have an increase of 3% in the coming year. Shares finished the day up 9.85%, gaining $4.59 to close at $51.17.
Freeport-McMoRan Copper & Gold Inc. (FCX)
The company’s dismal fourth-quarter earnings report was enough to send shares lower early in the day, but the stock managed to rebound later as investors put faith in the company’s cost-balancing measures. Shares last traded at $24.94, a gain of $2.13, or 9%.
Danahar Corp. (DHR)
While shares of DHR were still down in the fourth quarter, the stock didn’t do as bad as the Street had expected. Shares got the boost they needed to finish the day up 9.3%, ending the day at $56.12 – a gain of $4.77.
Losers:
AFLAC Inc. (AFL)
AFL setting new 52-week lows on yet another rating cut. Shares last traded at $19.62, down nearly 20% on the day, a loss of $4.87.
Rohm & Haas (ROH)
News that the deal with Dow Chemical Co. will not be complete by the end of January sent shares plummeting 13.25%. The stock closed the session at $57.10, down $8.72.
Regions Financial Corp. (RF)
With the regional bank looking to cut its dividend by 90%, the stock found no reason to climb. Shares fell 12% to end the day at $4.10, a loss of 56 cents.
U.S. Bancorp (USB)
After last week’s earnings release showed the company earned its lowest profit since 2001, shares declined another 11% on Monday. The stock last traded at $13.01, a loss of $1.63.
Pfizer Inc. (PFE)
Despite news of a $68 billion deal with Wyeth, shares of Pfizer fell more than 10.3% as the company’s year-to-year profit could be down as much as 90%. The stock closed at $15.65, a loss of $1.80.
As economy falls, more people put money away in savings
FOXBusiness.com’s Week in Review: Jan. 19-23, 2009
