Stocks Flat in Lackluster Trading
Stocks are flat on Monday, after last week’s strong performance.
Earlier today, the November ISM’s Manufacturing Index continued to decline, although it remained above 50, indicating economic expansion.
VeriFone Holdings
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PAY |
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PowerRating) shares are tumbling after the company announced it will have to restate its quarterly results for 2007. PAY shares are currently down by more than 47%.
Financial stocks are under pressure, with Fannie Mae, Freddie Mac, MBIA, and Countrywide Financial all down more than 5%. E*Trade Financial
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PowerRating) is down nearly 13% after the stock was downgraded to "sell" by Banc Of America.
In Europe, two of Germany’s largest banks announced $15 billion bailouts for troubled SIVs.
Activision
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PowerRating) is among today’s best performers after Vivendi announced plans to merge the company with its Blizzard gaming unit. ACTI shares are up more than 15%.
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