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

Credit and liquidity concerns swirling around Bear Stearns (BSC) sent the stock to new lows and pulled the financial sector down with it.

The brokerage house wobbled as early morning options trading saw heavy volume in puts being written at low prices. Bear Stearns was selling shares at $53.99, but had been as low as $50.48, a decline of 16%.

Additionally investors are becoming increasingly concerned about the company's mortgage holdings and its ability to finance them. Not only that, Bear is a creditor of private equity firm Carlyle Capital, which is expected to go out of business after it was unable to meet its margin calls. Carlyle announced late on Wednesday that it expected creditors to seize its remaining assets.

Also unable to meet its margin calls was Thornburg Mortgage (TMA), which crumbled almost 20% at one point after receiving a default notice from Morgan Stanley (MS).

Morgan had loaned Thornburg $49 million and the jumbo lender couldn't pay its $9 million margin call. The stock had started to make a slight recovery in value over the last few days, but that came to a crashing halt as shares slid 55 cents to $2.30.

Between Bear and Carlyle, the NYSE Financial Sector plunged over 4% in early morning trading, but was recovering throughout the afternoon. It was lately trading at 7,105.21, a drop of 20.88, while the SPDR Financial Sector ETF (XLF) was off by 0.3% to trade at $24.69.

Also getting beat up was UCBH Holdings (UCBH), the holding company for United Commercial Bank. Its shares fell 6% to $8.86 when the company said its accountant PriceWaterhouseCoopers decided not to work with them any longer. KPMG has been hired as a replacement.

Elsewhere CBRE Realty Finance (CBF) reported a fourth-quarter adjusted loss of $11.9 million, or 39 cents a share, compared to last year's profit for the same period of 19 cents a share. Not only that, the Hartford, Conn.-based commercial real estate specialty finance company announced that it hired Goldman Sachs (GS) as its financial adviser to assist with its strategic and operational initiatives. CBRE traded down 6.9% to $3.90.

On a positive note, Fox-Pitt Kelton upgraded Freddie Mac (FRE) to in line from underperform, and said the second-largest U.S. home funding company had significantly reduced its mark-to-market earnings volatility and that its capital appeared sound.

Freddie was enjoying a day of trading in the green, with shares selling at $20.96, a gain of 5.7%. Fellow lender Fannie Mae (FNM) was climbing 9.8% to $23.12.

Finally, a Keefe Bruyette & Woods analyst increased her first-quarter earnings estimates for stock exchange operators based on strong trading volume. CME Group (CME) traded up $9.59 to $507.99, Nasdaq (NDAQ) climbed $1.73 to $40.46 and NYSE Euronext (NYX) ticked up 98 cents to $61.20.

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,935.17 +20.10 0.12%
S&P 500 1,965.79 +1.11 0.06%
NASDAQ 4,412.0260 +15.8220 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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