This Day On The Street
Continue to site
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

Wednesday's Financial Winners & Losers

Financial stocks trundled upward to crown the surging Nasdaq Wednesday even as profound credit-market troubles continued to haunt the sector.

Alesco Financial (AFN) catapulted 31.6% after the Philadelphia-based mortgage-investment firm announced a $50 million share-repurchase program. Second-quarter adjusted earnings also totaled 31 cents a share, which meets the sole profit estimate from Thomson Financial. Shares were up $1.16 to $4.83.

New York's Crystal River Capital (CRZ), another real-estate investor, jumped 14% to $11.85 on word it will buy back up to 2 million of its shares. ING Group (ING - Get Report), based in the Netherlands, reported a 27.1% year-over-year earnings leap to $3.53 billion (2.56 billion euros), or $1.63 a share. Shares of the bank added $2.44, or 5.8%, to $44.27.

MGIC Investment (MTG - Get Report), a private-mortgage insurer, soared 15.3% after saying it's "not obligated" to close its pending stock-swap merger with Radian Group (RDN - Get Report). MGIC cited last week's revelation that the companies may have to write off their investments in Credit Based Asset Servicing and Securitization, which sustained "unprecedented losses" ultimately due to borrowers with questionable credit.

Radian said it doesn't believe these developments dissolve MGIC's obligations, but Citigroup downgraded the stock to hold from buy and Standard & Poor's put the firm on negative credit watch. Radian shares hurtled downward by as much as 24% this morning before making a quick recovery. Lately, they were off 1.6% to $20.95. MGIC was rising $6.03 to $40.87.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CNO $18.28 -1.00%
ING $11.73 -1.80%
IMH $14.02 -2.00%
MTG $6.74 -2.40%
RDN $12.20 -2.10%


Chart of I:DJI
DOW 17,651.61 -99.30 -0.56%
S&P 500 2,052.99 -10.38 -0.50%
NASDAQ 4,731.4740 -31.75 -0.67%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs