This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Thursday's Financial Winners & Losers

Updated from 1:33 p.m. EDT

Financial stocks rebounded Thursday, after two days of selloffs following renewed concerns over the impact of subprime mortgages on banks and the housing market.

Standard & Poor's on Tuesday warned it could cut ratings on securities backed by subprime mortgages, and Moody's followed that announcement by doing just that. Investment banks and real estate investment trusts that invested in or securitized subprime mortgages took a hit that rattled the markets.

By Thursday, however, investors fears about the potential wide reach of the subprime problem seemed to have subsided. While REITs dealing in the subprime space, including American Home Mortgage (AHM), continued to lag, Wall Street banks such as Bear Stearns (BSC), Goldman Sachs (GS) and Lehman Brothers (LEH) were returning to levels before the selloff began Tuesday.

Education lending company Sallie Mae (SLM) also made a comeback. Shares lost 10% Wednesday after word investors in a $25 billion proposed buyout of the company could have cold feet. Congressional legislation that passed the House Wednesday would halve interest rates on student loans, leading investors in the J.C. Flowers & Co.-led Sallie Mae deal, one of the largest private buyouts ever, to express concerns. Sallie Mae brushed off the concerns, but the stock plummeted. It was on the rebound Thursday, closing up $1.55, or 3%, to $53.70.

FCStone Group (FCSX) gained 7.1% after posing an earnings beat Thursday before the bell and announcing a stock split. The commodities risk management company nearly doubled income in the third quarter ended May 31 over the year-ago period, to $8.1 million from $4.1 million. It posted earnings per share of 43 cents, compared with 28 cents in the comparable quarter in 2006.

The company also said its board had approved a 3-for-2 stock split. Shareholders of record on Sept. 17 will receive an additional share for every two shares held. FCStone shares rose $3.97 to $59.66.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs