The Market Update

Citigroup, Dow Chemical, Fannie Mae Big Movers

Stock quotes in this article: C , COV , CROX , DOW , FITB , FNM , VNUS  

NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Citigroup Inc., up 21 cents at $4.02

The bank said it planned to convert $33 billion of preferred shares into common stock to meet requirements of regulators' "stress test."

Dow Chemical Co., up $1.75 at $17.50

The chemical company will save millions on dividend payments after swapping out preferred shares used in its buyout of Rohm & Hass.

Fannie Mae, down 2 cents at 86 cents

The mortgage finance company will need $19 billion more in government aid and warned that even that may not be enough to keep it solvent.

American Axle & Manufacturing Inc., up $2.49 at $4

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