MidnightTrader Earnings Play: Freddie Mac
Freddie Mac
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PowerRating) closed down 9.2% at 5.89, extending a modest late pre-market decline seen after a downgrade this morning.
Keefe, Bruyette downgraded its rating on Freddie Mac to Market Perform this morning.
In the analyst-driven moves between the sessions we’ve tracked, including today, FRE once reversed its direction between the extended-hours session and regular trading, once extended that early move and once nearly matched its pre-market move at the regular session close.
8/7/08 Pre-Market: -0.6% at 6.40; 8/7/08 Regular Session: -9.2% at 5.89 – Keefe Bruyette cut to Market Perform.
4/8/08 Pre-Market: +2.5%; 4/8/08 Regular Session: -4.3% – Lehman
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PowerRating) raised stock to Overweight from Equalweight.
2/22/08 Pre-Market: down at 26.27; 2/22/08 Regular Session: -5.5% at 26.24 – Merrill Lynch
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PowerRating) downgrade to Sell from Neutral.
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