Financial Winners & Losers: Fannie Mae

A mixed bag of economic numbers kept financial stocks down slightly with insurance companies losing the most value on the day.

A number of retailers reported better-than-expected sales, though the figures were by no means great. Meanwhile, jobless claims in the first week of May fell 18,000 to 365,000, a dip of 5,000 more than expected.

Elsewhere, the White House threatened to veto a package of housing measures that included new rules for mortgage lenders Fannie Mae FNM and Freddie MacFRE. Both of the government sponsored lenders finished lower, with Fannie Mae giving back 4.9% to $27.63 and Freddie shedding 2.2% to $25.43.

Overall, financial stocks were down, with the NYSE Financial Sector Index declining 50.82 to 7,654.50.

Accident and health insurer Conseco CNO shaved 11.7% off its share value after missing analysts' first-quarter estimates. Its Bankers Life operations only delivered pre-tax income of $29.1 million, as opposed to the $70 million that was expected. The stock lost $1.41 to trade at $10.61.

Life insurer Phoenix Co. PNX also turned in a losing first quarter as a few large claims on policies issued years ago hurt profits. The Hartford, Conn.-based insurer saw its operating income drop 58% and recorded a loss of 17 cents per share. The stock plunged 13.1% to $11.

Hedge fund Fortress Investment Group FIG shares slipped 6.3% after the company reported a loss of $69 million, vs. last year's profit of $62 million. The stock closed down 91 cents to $13.65.