Stocks Surge, MBIA Sinks on Moody’s Report
Stocks surged on Wednesday, boosted by stronger than expected data that showed the economy is holding up better than previously thought.
MBIA
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PowerRating), which was among the best performers earlier in the day, plunged more than 15% after Moody’s said the company faces a capital shortage (read more). The news also sent shares of Ambac Financial
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PowerRating) much lower. ABK was also among the biggest gainers this morning.
Blyth
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PowerRating) rose more than 22% after the company reported Q3 profit and a strong FY08 outlook (read more).
CommScope
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PowerRating) jumped 15% after raising Q4 guidance yesterday (read more).
Chico’s FAS
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PowerRating) fell nearly 12% after the company missed Q3 estimates (read more).
TOP Tankers
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PowerRating) lost more than 15% after announcing that it has priced its offering to the public of 21.0 million shares priced at $3.00 per share (read more).
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