Citigroup, BofA, Fannie Most Active in Trading

Mayank Mehta
29 Dec, 2009
New York City

Banks and two mortgage agencies Fannie Mae and Freddie Mac led the most active stocks in New York. Imperial Sugar settles its property insurance claim for $345 million. Resource stocks gained after a rally in copper and sugar. Banks led the most active stocks in New York trading.

[R]11:45 AM New York – Banks and two mortgage agencies Fannie Mae and Freddie Mac led the most active stocks in New York. Imperial Sugar settles its property insurance claim for $345 million. Resource stocks gained after a rally in copper and sugar. Banks led the most active stocks in New York trading.[/R]

Of the stocks in S&P 500 index, 294 increased, 193 declined and 13 were unchanged.

Windstream Corporation led the decliners in the S&P 500 index with a loss of 3.2% followed by losses in Tenet Healthcare Corporation of 2.1% and in Micron Technology, Inc of 1.9%, in SanDisk Corporation of 1.6% and in Qwest Communications International Inc of 1.1%.

CB Richard Ellis Group, Inc led gainers in the S&P 500 index with a rise of 2.5% followed by gains in Amazon.com, Inc 1.4%, in Lockheed Martin Corporation of 1.2% and in Gannett Co., Inc of 1.1%.

Other Movers

Alcoa Inc ((AA)) the aluminum maker added 0.7% or 12 cents to $16.22 after a rally in copper lifted metals.

Apple Inc ((AAPL)) declined 0.5% or $1.25 to $210.36.

ArcelorMittal ((MT)) the steelmaker advanced 2.4% or $1.11 to $46.80 after China suggested higher than estimate growth of 8% or more and India said economic growth of more than 7%.

China Wind Systems, Inc ((CWS)) increased 7% after it began trading on Nasdaq. The stock has been trading on OTC Bulletin Board and has surged from its low of 63 cents in March. The wind turbine component maker primarily derives its revenues fro textile and coal power industries. The company completed its one-for-three reverse merger on October 13.

Cosan Limited ((CZZ)) gained 2.8% or 24 cents to $8.73 after the sugarcane processor was upgraded to “overweight” from “neutral” at JPMorgan.

CTC Media, Inc ((CTCM)) surged 11.1% or $1.52 to $15.42 after the Russian television network was upgraded to “buy” from “hold” at Deutsche Bank.

Federal National Mortgage Association ((FNM)) the U.S. government controlled finance agency gained 5.5% or 7 cents to $1.34.

Imperial Sugar Company ((IPSU)) surged 15.5% or $2.32 to $17.04 after the processing and marketing of refined sugar said it settled the property insurance claim for the February 2008 industrial accident at its Port Wentworth, Georgia refinery for an aggregate of $345 million. The company plans to take pre-tax gain of $278 million in the current quarter.

Jefferies Group, Inc ((JEF)) rose 3.1% or 72 cents to $23.94 after the brokerage was upgraded to “outperform” from “market perform” at Keefe, Bruyette & Woods.

The Mosaic Company ((MOS)) the fertilizer maker fell 1.8% or $1.12 to $59.72.

Potash Corporation of Saskatchewan Inc ((POT)) the fertilizer maker dropped 2.7% or $3.03 to $108.68.

Sterling Bancshares, Inc ((SBIB)) the lender advanced 0.9% or 5 cents to $5.30.

Vivus, Inc ((VVUS)) added 2.2% or 22 cents to $9.89 after the biotechnology company submitted a new drug application for the treatment of obesity and suffering from diabetes.

Windstream Corporation ((WIN)) the telecommunications services provider in rural communities decreased 3.2% or 17 cents to $11.19.