Another down day -- and what’s more, a down week and a down month for the markets. The major indices were all trading at levels unseen in years, ending the day down 1.7% on average. With breaking news from Citi and a dismal GDPreport, the last day market session of February was one of the more memorable sessions in recent history.
Here are Friday’s winners and losers:
Winners
Interpublic Group of Cos. (IPG)
The advertising company's better-than-expected earnings results helped prod it away from its yearly lows. Shares gained 25 cents, or 7%, to end the week at $3.81.
CIT Group Inc. (CIT)
News of a deal with the Wellman Group helped the stock surge 7% to end the week. The stock closed the session at $2.45, a gain of 16 cents.
Public Storage (PSA)
Earnings are up and so is the stock. Shares moved up $3.05, or 5.8%, to finish trading at $55.48.
Tyson Foods Inc. (TSN)
The company reported a quarterly dividend of four cents, helping the stock move 5.3% to the green Friday. It closed at $8.43, up 42 cents.
McCormick & Co. Inc. (MKC)
A little seasoning for the chicken, it seems. McCormick reaffirmed its guidance for ’09, causing shares to trade up all day. The stock rose 5%, or $1.50, to close at $31.35.
Losers
Citigroup Inc. (C)
Nothing is going right for the U.S. bank -- and I mean U.S. bank -- as We the People now could own as much as 36% of it. The news sent investors running, causing shares to lose 96 cents, or 39%, on the day. The stock ended the last day of the week at $1.50.
Huntington Bancshares Inc. (HBAN)
Huntington’s free ride has come to an end -- the stock spent much of the week banking on the stress test, but reality set in today, and the regionals dropped like a rock. The stock closed at $1.46, a loss of 52 cents, or 26%.
Bank of America Corp. (BAC)
The latest government intervention moves hampered the stock. Shares dropped $1.37, or 26%, on Friday to close at $3.95.
Principal Financial Group Inc. (PFG)
A number of downgrades hit the insurance sector on Friday, with PFG coming out as the big loser. The stock fell $2.60, or 24.6%, to close at $7.99.
MetLife Inc. (MET)
It may be rough times ahead for the insurer, as uncertainty about possible government intervention in the sector is keeping investors on edge. MET last traded at $18.46, a loss of $5.53, or 23%.
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