Financial Winners & Losers

Monday's Financial Winners & Losers

 

Trading in New Century Financial (NEW) was halted Monday so the New York Stock Exchange could review the subprime lender's listing status. This pulled down others in the sector, such as Accredited Home Lenders (LEND), which lost a quarter of its value, falling $3.95 to $11.83 -- well under last week's $16.06 low point.

Fremont General (FMT) also sank $1.20, or 14.9%, to $6.83, and NovaStar Financial (NFI) slid 69 cents, or 13.2%, to $4.55.

Countrywide Financial (CFC) lost ground as well, after predicting volatile near-term earnings due to current trends in the subprime sector. The firm said it shaved about 8% off its February subprime loan fundings from last year to $2.6 billion, which comes to roughly 7% of Countrywide's total mortgage loan fundings. Shares were losing $1.42, or 3.9%, to $34.68.

OceanFirst Financial (OCFC), a New Jersey-based savings bank, was also caught in the subprime landslide after announcing that its full-year 2006 earnings report, issued Jan. 18, didn't include a reserve for subprime-loan repurchasing in the event of early payment default. The bank will need to revise its numbers accordingly. Shares were down 90 cents, or 4.4%, to $19.70.

InterContinental Exchange (ICE) was higher on word the commodities exchange will launch an electronic-trading platform for the New York Board of Trade in April. Shares were adding $2.26, or 1.7%, to $133.26.

>To order reprints of this article, click here: Reprints

TheStreet Premium Services

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,393.45 1,310.33 2,827.34 15.81
Oil *
101.78
DOWN
26.41
DOWN
2.99
DOWN
10.02
DOWN
0.44
10 Yr
1.58%
SPDR Gold
151.62
-0.21%
-0.23%
-0.35%
-2.71%
Data delayed 20 minutes

Top Stories and Tools

Articles From

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet