Premarket roundup: Sanderson Farms; Fannie Mae
Premarket roundup: Sanderson downgraded, analyst: Fannie, Freddie shares could be 'worthless'
- On 9:31 am EDT, Monday October 19, 2009
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.
Related Headlines
- Stocks jump Monday - at CNNMoney.com
- October sales gains lift hopes for housing market - AP
- Wall St. Finds Profits by Reducing Mortgages - at The New York Times
- U.S. Oil Production Increases - A Blip Or A New Trend? - at Investopedia
- Dow, S&P Up More Than 1% on Housing - at SmartMoney.com
Related Blog Headlines
- Existing Home Sales Soar Again - Zacks.com
- Goldman Sachs: Retail Trading in Cheap Financials Wanes - at The Wall Street Journal Online
- S&P Stocks Trading at New 52-Week Highs - at CNBC
- Mortgage Backed Securities: What Happens When the Training Wheels Come Off? - at Seeking Alpha
- FDIC Keeping Mum About Real Estate Auction Results - at Seeking Alpha
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