Stocks were down across the board today on financial sector woes and exploding oil prices. The DJIA ended down -128.48 to 11100.54 paring greater losses, prior to reports that the Fed was stepping in to assist Freddie and Fannie mortgage concerns. The Nasdaq gave up -18.77 to 2239.08 and the S&P 500 fell another -13.90 to 1239.49.
Lehman Brothers ( LEH | Quote | Chart | News | PowerRating) continued its decent today falling another 16.18% or $2.80 to $14.50/share on additional Freddie and Fannie mortgage worries as Lehman owns substantial bonds in the mortgage concerns.
Chesapeake Energy ( CHK | Quote | Chart | News | PowerRating) climbed 3.12% or $1.92 to $63.50/share after Mad Money host Jim Cramer recommended the company.
Fannie Mae ( FNM | Quote | Chart | News | PowerRating) collapsed another 23.03% or $3.04 to $10.16/share to a 17-year low after falling as much as 49% on Paulson's statements.
Hercules Corp ( HPC | Quote | Chart | News | PowerRating) jumped 25.87% or $4.31 to $20.97/share after agreeing to a buy out offer from Ashland.
Oil climbed $3.28 to $144.93/barrel and gold ended the day up $18.60 to $960.60.
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