Unusual 11 Mid-Day Movers 9/29: VSE, DLIA, AGM, FXP Higher; NCC, SOV, FITB, CALM Lower

September 29, 2008 12:30 PM EDT

National City Corporation (NYSE: NCC) 46.6% LOWER; growing fears after Wachovia's FDIC facilitated fire sale to Citi.

Soverign Bancorp (NYSE: SOV) 36.9% LOWER; amid the insanity on Wall Street over the last month, Sovereign has now become the second-largest U.S. savings and loan company, making it one of the few large banking targets left on Wall Street. Today's move comes despite an upgrade to Buy at Janney Montgomery Scott.

Fifth Third Bancorp (Nasdaq: FITB) 30.5% LOWER; according to data from Google, the financial sector as a whole is down about 6%. About 60% of financial stocks are down more than 2% during today's trading session.

Cal-Maine Foods, Inc. (NASDAQ: CALM) 22.5% LOWER; reports Q1 EPS of $0.47, compared to $0.76 in the same quarter last year. Revenues for the quarter were $206.9 million, compared to $178.6 million in Q108.

VeraSun Energy (NYSE: VSE) 20% HIGHER; shares are continuing to bounce this week after falling more than 70% on September 17 following an earnings warning.

dELiA*s, Inc. (NASDAQ: DLIA) 19.9% HIGHER; today announced that it has entered into an agreement to sell the assets related to its CCS brand to Foot Locker, Inc. (NYSE: FL) for $102 million in cash, subject to adjustment as provided in the agreement.

Federal Agricultural Mortgage Corp. (NYSE: AGM) 19.9% HIGHER; the stock, commonly referred to as Farmer Mac, is bouncing today after falling more than 80% last week on the back of extremely concerning financial conditions within the US.

UltraShort FTSE/Xinhua China 25 ProShares (AMEX: FXP) 19.1% HIGHER; traders are betting against the Asian and European markets today amid utter disarray in the US financial markets.

UltraShort MSCI Emerging Markets ProShares (AMEX: EEV) 14.6% HIGHER; in addition to the developed economies, traders are also betting that turmoil in the US markets will spread to emerging countries soon.

Apple (Nasdaq: AAPL) 14.3% LOWER; Apple is tanking today on the back of several downgrades: RBC downgraded to Sector Perform and Morgan Stanley downgraded to Equal Weight. Apple is leading the Nasdaq lower, which is now down nearly 5%, or more than 100 points.

Freddie Mac (NYSE: FRE) 11.5% HIGHER; despite an announcement on Friday that Freddie received a federal grand jury subpoena from the United States Attorney's Office for the Southern District of New York, the stock is one of the few financials that are positive today.

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Related Entities

• Citi
• Morgan Stanley
• Wachovia
• Janney Montgomery Scott

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