Apple, MBIA, Ralph Lauren Up

123jump.com Staff
26 May, 2009
New York City

Zions led gainers in the S&P 500 index with a rise of 5.9%. Chimera Investment declined more than 6%. Chemed Corporation gained 3% after MMI Investment withdrew its slate of board of directors. Morgan Stanley acquires a minority stake in real estate developer in India.

[R]11:00AM New York – Zions Bancorporation led gainers in the S&P 500 index with a rise of 5.9%. Qwest gets upgraded to overweight by J.P. Morgan.[/R]

Of the stocks in S&P 500 index, 181 increased, 313 declined and 6 were unchanged.

General Motors Corporation led decliners in the S&P 500 index of 20.2% followed by losses in Regions Financial Corporation of 7.5%, in E*TRADE Financial Corporation of 5.8%, in Genworth Financial, Inc of 5.7% and in EOG Resources, Inc of 4.1%.

Zions Bancorporation led gainers in the S&P 500 index with a rise of 5.9% followed by gains in Qwest Communications International Inc of 5.7%, in Altera Corporation of 4.1% and Micron Technology, Inc of 3.9%.

Other Movers

Apple Inc ((AAPL)) added 5.0% or $6.11 to $128.65 after the maker of the iPhone was upgraded at Morgan Stanley.

Chemed Corporation ((CHE)) rose 3.0% or 95 cents to $38.12 after MMI Investment withdrew its slate of board of directors. MMI owns less than 4% of the stock and the largest stockholder had urged the company to spin-off Roto-Rooter and Vitas divisions.

Chimera Investment Corporation ((CIM)) slumped 6.3% or 23 cents to $3.38 after the mortgage-debt investor declared second quarter dividend 8 cents. The largest stock holder in the company Annaly Capital Management in a filing with the SEC offered to sell 140 million shares.

First Solar, Inc ((FSLR)) fell 4.4% or $8.44 to $183.28 after the world’s largest manufacturer of thin-film solar power modules was downgraded from “market-perform” to “underperform” at FBR Capital.

General Motors Corporation ((GM)) declined 20.2% or 29 cents to $1.14 after the U.S automaker stocks fluctuated in a tight range.

Qwest Communications International Inc ((Q)) climbed 6.2% or 25 cents to $4.26 after the local phone-service provider in 14 U.S. states was upgraded from “neutral” to “overweight” at JP Morgan.

Regions Financial Corporation ((RF)) dropped 8.4% or 34 cents to $3.70 after it brokerage unit Morgan Keegan was hit with more arbitration damages with retail clients totaling $1.1 million.

United Therapeutics Corporation ((UTHR)) jumped 10.7% or $7.16 to $73.70 after the pharmaceutical company announced today that the United States Food and Drug Administration has approved adcirca tablets for oral administration with a recommended dose of 40 mg as the first once-daily phosphodiesterase type 5 inhibitor for the treatment of pulmonary arterial hypertension (PAH).

Zions Bancorporation ((ZION)) added 5.9% or 76 cents to $13.47.