Tuesday's Financial Winners & Losers

Nasdaq falls on S&P credit cut, while Fannie Mae rises.
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Nasdaq Stock Market

I:IXIC

slid again as Standard & Poor's cut the credit rating on some of the exchange's bonds. The rating agency took the action in response to the Nasdaq's plan to use mostly debt to finance its proposed $5.1 billion bid for the

London Stock Exchange

. On Monday, Nasdaq said it had secured $5.8 billion in financing for the deal. Shares were down 27 cents to $39.73.

SL Green Realty,

(SLG) - Get Report

a real estate investment trust, jumped on an upgrade by UBS to a buy from neutral. The upgrade comes on the heels of the news that Carl Icahn had bought a 4.2% stake in

Reckson Associates Realty,

(RA) - Get Report

another REIT that SL Green plans to buy. Shares were trading up $3.75, or 2.8%, to $138.65.

Fannie Mae

(FNM)

rose on news that it and

Freddie Mac

(FRE)

will retain the $417,000 limit on loans they can purchase. Some had feared the two mortgage finance giants would reduce the amount in light of the drop in home prices. Fannie shares were up 57 cents, or 1%, to $56.50.

PMI Group

(PMI)

gained after Wachovia upgraded the mortgage insurer to outperform from market. Shares were up $1.13, or 2.7%, to $43.09.

Bank of Montreal

(BMO) - Get Report

fell after full-year results narrowly missed Wall Street expectations. The Canadian bank earned about $2.4 billion, or $4.56 a share -- an 11% increase from a year ago. Still, analysts polled by Thomson Financial were looking for income of $4.63 a share. Shares were down $1.90, or 3%, to $61.18.