Wednesday's Financial Winners & Losers
Fremont General (FMT) plunged nearly 15% after the California-based bank said its year-end 2006 financials, previously slated for release Wednesday, won't be in by the March 1 deadline. Shares were losing $1.72 to $9.93.
Chicago Mercantile Exchange (CME) got a lift after it announced that Tuesday's roughly 13.7 million traded contracts set a new record for daily volume. The prior record was about 11 million contracts. Shares were gaining $29.23, or 5.7%, to $540.22.
Amerisafe (AMSF) shares jumped 9.5% after the Louisiana-based insurer said fourth-quarter income totaled $12.8 million, or 70 cents a share, compared with $3 million, or 39 cents a share, a year ago. Analysts polled by Thomson Financial had targeted 36 cents a share. Amerisafe was adding $1.54 to $17.84.
American Express (AXP) rose after an analyst with Friedman Billings raised the credit-card company's rating to outperform from market-perform. He said the stock is currently undervalued. Shares were up $1.20, or 2.2%, to $56.79.MBIA (MBI) raised its dividend by 3 cents to 34 cents a share, sending its stock up 68 cents, or 1%, to $66.75.
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