The dreary Monday apparently gave the market the blues. The major indices finished the day down between 1% and 2% each, while crude continues to creep back towards $50 a barrel. The market continues to be driven by words from Washington, but nothing being said is positive enough to get a move in the right direction.
Here are Monday’s winners and losers:
Winners
MBIA Inc. (MBI)
Thank the Oracle of Omaha. Warren Buffet is very bearish on the future of the bond market, which gave the stock a bid higher It closed the session at $3.09 a gain of 56 cents, or 22%.
Bank of America Corp. (BAC)
News that BofA sold $5.8 billion in FDIC-guaranteed debt sent the stock up 19%, or 61 cents, during trading to end the day at $3.75.
Rohm and Haas (ROH)
Investors breathe a sigh of relief -- the company’s merger with Dow Chemical (DOW) is on again. The stock moved up 16%, or $1.02, Monday to close at $74.
General Motors Corp. (GM)
As the major auto companies prepare for another round of hearings in D.C., investors are hoping for the best. GM gained 16%, finishing at $1.68, up 23 cents.
Wells Fargo & Co. (WFC)
Even though Warren Buffet was speaking about Wells Fargo, the stock could not top the winners today, but investors are unlikely to complain about a 16% increase. Shares finished at $9.97, a gain of $1.36.
Losers
AFLAC Inc. (AFL)
A UBS downgrade to sell crushed the stock to start the week, sending it to a new yearly low. Shares last traded at $11.49 a loss of $1.95, or 14.5%.
Office Depot Inc. (ODP)
UBS causes trouble again -- this time, in the form of a price cut. The stock declined nine cents, or 13%, to end 59 cents.
Gannett Co. Inc. (GCI)
People just aren’t reading the paper anymore. The publishing company closed down 11.4% Monday. GCI ended trading at $1.95, a loss of a quarter.
Micron Technology Inc. (MU)
After S&P lowered its recovery rating on the tech company, shares dropped 11.3%, or 33 cents, to finish the session at $2.58.
Dow Chemical Co. (DOW)
Dow gets the short end of the stick in the deal with Rohm & Haas, losing 78 cents, or 11%, Monday to end at $6.33.
Market Winners & Losers: Lennar, AFLAC
Large banks take beating on Wall Street
Super Bowl ads reflect tough times
Market Winners & Losers: Symantec, Textron
