Premarket Roundup: Sanderson Farms; Fannie Mae

The Associated Press

Among the premarket stories for Monday, Oct. 19, from AP Financial News:

— Rising corn prices caused an analyst to downgrade shares of poultry producer Sanderson Farms Inc. on Monday, since rising corn prices make feed costs more expensive.

— Keefe, Bruyette & Woods downgraded mortgage finance companies Fannie Mae and Freddie Mac Monday, saying their common and preferred shares would be "worthless" given the nearly $100 billion they will continue to owe the government, even if recapitalized.

— American Express' better-than-expected credit performance led an analyst to raise his rating and price target on the stock Monday.

— Oil prices are set to rise and boost shares of oil companies, said an analyst on Monday as he urged investors to buy shares of two oil exploration and production companies.