This Day On The Street
Continue to site
ADVERTISEMENT
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

Fannie Mae: Financial Winners and Losers

( Updated with closing stock prices.)

NEW YORK ( TheStreet) -- Fannie Mae (FNM) and Freddie Mac (FRE) were among the worst performers of the financial sector Wednesday, retracing some of their recent rally sparked by the Treasury Department's decision to remove a cap on aid.

Fannie Mae and Freddie Mac each jumped 19% through Tuesday's session after the Treasury Department Thursday removed the $400 billion financial cap on the money it will provide to both.

Lately, though, Fannie and Freddie shares were sliding as momentum traders booked profits. Fannie closed down 7.2% to $1.16, and Freddie lost 5.3% to $1.42.

Similarly, Radian Group (RDN - Get Report) and other mortgage-insurance stocks were declining, one day after a positive report on U.S. home prices spurred buying. The Standard & Poor's/Case-Shiller home price index of 20 major cities improved for the ninth-consecutive month, although that was down 7.3% from a year ago.

Radian, which gained 5.9% during Tuesday's session, closed down 3.4% to $7.32. Among other related stocks retracing the previous day's gains, PMI Group (PMI) slid 1.6% to $2.52 and MGIC Investment (MTG) fell 2.9% to $5.68.

On the other hand, Horizon Bancorp (HBNC - Get Report) was among the winners of the session, climbing 7.2% to $15.90 after the company said it will acquire most of the banking-related assets and deposits of American Trust & Savings Bank, which carry an estimated value of $110 million. Terms of the deal weren't disclosed, but the transaction should be completed in the second quarter of 2010.
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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BAC $18.05 -0.61%
C $58.88 -0.07%
HBNC $25.00 1.42%
GS $207.20 0.17%
RDN $18.54 0.16%

Markets

Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs