Company/EPS Estimate
- (ANN)/.20
- (SUP)/.18
- (WCG)/1.62
- (KWD)/.11
Anixter International Inc. (AXE) had the biggest drop since Aug. 9, slumping 6.7 percent to $61.87. The distributor of wire for cable and electrical networks was cut to ``neutral'' from ``buy'' at Merrill Lynch & Co.
Anworth Mortgage Asset Corp. (ANH) declined 7.3 percent to $5.57, the lowest since March 10. The Santa Monica, California- based real estate investment trust said its fourth-quarter loss widened to 15 cents a share from 9 cents a year earlier.
American International Group Inc. (AIG) fell 2.5 percent to $42.57, its biggest decline since March 6. Morgan Stanley predicted losses linked to credit-default swaps may total $3 billion for world's largest insurer by assets. The brokerage cut its recommendation on AIG to ``equal-weight'' from ``overweight'' and said if the ``fixed income crisis deepens'' the losses could lead to a capital shortfall.
Bear Stearns Cos. (BSC) declined the most in the Standard & Poor's 500 Index, dropping 7.4 percent to $57. The second-largest underwriter of mortgage-backed bonds fell on concern the company lacks sufficient access to capital. Traders have been reluctant to engage in long-term transactions such as credit-default swaps with Bear Stearns as the counterparty, the Wall Street Journal reported.
CBRE Realty Finance Inc. (CBF) fell 7.9 percent to $3.86, the steepest drop since March 6. The commercial real estate finance company reported a fourth quarter loss of 59 cents a share, which included a $19.7 million provision for loan losses.
Cornell Cos. (CRN) jumped 10 percent to $17.78, the biggest jump since May 2005. The provider of prison services predicted first-quarter profit will be 24 percent greater than the average analyst estimate in Bloomberg survey.
Fannie Mae (FNM) leapt 9.1 percent to $22.979, the highest since March 5. The biggest U.S. mortgage-finance company rose as Standard & Poor's said the end is in sight for writedowns on debt linked to subprime mortgages by the world's financial institutions. Freddie Mac (FRE:US) advanced 6.3 percent to $21.30.
Ford Motor Co. (F) slid to the lowest since November 1985, dropping 5.4 percent to $5.39. Morgan Stanley analyst Jonathan Steinmetz said Ford, the second-biggest U.S.-based automaker, will have a wider loss in 2008 than he previously estimated.
Genesco Inc. (GCO) gained 8.6 percent to $21.90, its biggest advance since Dec. 28. The Nashville, Tennessee-based shoe and clothing retailer said its board authorized a buyback of as much as $100 million of stock.
Humana Inc. (HUM) had the biggest gain in the Standard & Poor's 500 Index, climbing 10 percent to $44.98. The health- insurance company was raised to ``neutral'' from ``sell'' by analyst Justin Lake at UBS AG.
SulphCo Inc. (SUF) declined the most since Jan. 17, losing 12 percent to $3.96. The U.S. maker of equipment that removes sulfur from oil reported a subpoena from the Denver office of the U.S. Securities and Exchange Commission that requested financial information.
Virgin Mobile USA Inc. (VM) slid 41 percent to $2.46, the biggest drop since its October 2007 initial public offering. Richard Branson's pay-as-you-go mobile-phone service posted a fourth-quarter loss and projected earnings for this year that missed analysts' estimates. It was cut to ``sell'' from ``neutral'' at Merrill Lynch & Co. after the ``weaker than expected'' results.
Watch BVN, DNA, COG, WW, SGY for long breakouts.Watch PRU, ESI, RNR, DGX, DVA, CVH for short breakdowns.
-MM
