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MidnightTrader Analyst Play: Washington Mutual

By Brooks McFeely | TradingMarkets.com
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Washington Mutual (WM | Quote | Chart | News | PowerRating) closed down 3.5% at 2.73, about where it stood late in pre-market action.

The stock initially gained in pre-market trading, but was down some 4.5%, to 2.73, just ahead of the opening bell. The action followed a report that Goldman Sachs (GS | Quote | Chart | News | PowerRating) raised its rating on WaMu to Neutral from Sell.

A look back on the analyst moves we've tracked, including today, the stock is mixed with its share performance from pre-market trading to the regular session following an analyst ratings change; it's widened three times, narrowed twice and once matched its early move during regular trading.

9/12/08 Pre-Market: -4.5% at 2.73; 9/12/08 Regular Session: -3.5% at 2.73 - Goldman raises to Neutral.

4/8/08 Pre-Market: -11.8%; 4/8/08 Regular Session: -10.1% - Keefe Bruyette (KBW | Quote | Chart | News | PowerRating) downgrade to Underperform from Market Perform.

12/13/07 Pre-Market: decline to 15.20; 12/13/07 Regular Session: -3% at 15.58 - Bank of America (BAC | Quote | Chart | News | PowerRating) downgrade to Sell.

11/27/07 Pre-Market: modest gainer in pre-market: 11/27/07 Regular Session: +3% at 17.31 - Punk Ziegel raises rating to Market Perform from Sell.

10/18/07 Pre-Market: down in early session, less than reg. session; 10/18/07 Regular Session: -7.8% at 30.50 - Friedman Billings (FBR | Quote | Chart | News | PowerRating) downgrades to Underperform from Market Perform.

Get Midnighttrader in real time: this report is delayed. The full MidnightTrader extended-hours trading analysis and news service is available in real-time through Comtex. For more information and to signup for a free trial visit www.MidnightTrader.com/free_trial.php.

MidnightTrader is the premier source of extended-hours US equity trading analysis, news and forecasting for the retail and institutional investment community. MidnightTrader's extended-hours analytical trading service empowers both retail and institutional equity traders by providing the information necessary to make the most informed and opportunistic investment decisions.


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