Sen. Dodd’s comments that nationalizing the nation’s private banks is a possibility sent the financials plummeting and the market in a nosedive for most of Friday. The markets recovered in the late afternoon after the White House offered some reassuring words. The major indices still settled 0.9% lower on average.
Here are Friday’s winners and losers:
Winners
Huntington Bancshares Inc. (HBAN)
HBAN opened at a 52-week low but ended the day 32% higher as the regional bank began its round of proposed layoffs. Shares last traded at $1.36, a gain of 33 cents on the day.
New York Times Co. (NYT)
A day after announcing the suspension of its dividend and hitting a new 52-week low, NYT surged 16%. The stock closed at $4.07, a gain of 56 cents on the day.
KeyCorp (KEY)
KeyCorp was quite the volatile stock Friday, setting a new 52-week low during trading but recouping its losses to end the day at $6.07, a gain of 71 cents, or 13.3%.
Intuit Inc. (INTU)
The software company bounced off its yearly lows with the announcement of better-than-expected second-quarter results. Shares of INTU ended Friday at $23.99, a gain of $2.72, or 12.8% on the day.
HCP Inc. (HCP)
The stock saw both red and green over the past week but came out one of the winners among the REITs. HCP finished the session at $20.16, a gain of $2.01, or 11.1% on the day.
Losers
Citigroup Inc. (C)
‘New lows’ seems like a bit of understatement – Citi took quite the beating on Friday as nationalization fears swept Wall Street. Shares of Citi closed down 22.3% to finish Friday at $1.95, a loss of 56 cents.
Fifth Third Bancorp (FITB)
This regional wasn’t able to tough it out today, setting a new 52-week low as it closed down 14.9% on the day. The stock settled at $1.03, a loss of 18 cents.
Dynegy Inc. (DYN)
It was a volatile day for oil as it crept towards $40 a barrel only to finish down for the third day out of four. The stock set a new 52-week low to close down at $1.28 a share, a loss of 14.7%, or 22 cents.
Moody’s Corp. (MCO)
The credit-ratings services firm felt the burn as it dropped 13.2% on Friday. It last traded at $19.16 down $2.91.
Tesoro Corp. (TSO)
Another refiner closing down to end the week, shares of TSO dropped 12.8% as oil prices ended lower. The stock last traded at $14.13, down $2.07 on the day.
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