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Citigroup, Dow Chemical, Fannie Mae big movers
Friday, May 08, 2009 6:25 PM


(Source: Associated Press/AP Online)trackingNEW YORK - 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

An analyst said the auto parts supplier would be able to survive the troubles of the Detroit auto makers due to its impressive cost cuts.

International Rectifier, down $2.66 at $13.61

The maker of chips for aircraft and satellites posted a wider loss in the third quarter as sales slid, and said the future was cloudy.

NASDAQ

Crocs Inc., down 96 cents at $2.52

The plastic-shoe maker issued guidance that disappointed investors after posting a loss in the first quarter on dropping sales.

Fifth Third Bancorp, up $3.14 at $8.49

The government's "stress test" results showed the regional bank needed to raise $1.1 billion, which an analyst had said it could do.

VNUS Medical Technologies Inc., up $7.44 at $28.76

Covidien Ltd. will buy the medical device maker for $440 million in cash, a 36 percent premium on the stock's Thursday price.

A service of YellowBrix, Inc.



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