High Volume Stock Tankers (GS, MS, DWT, CRDN, ACF, PRXL)

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By Douglas A. McIntyre Updated Published
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Down_arrow_redWe are seeing many high volume price drops in actively traded shares today.  In most cases, the earnings are to blame, but there are other issues affecting some stocks as well.  Goldman Sachs Group (NYSE: GS), Morgan Stanley (NYSE: MS), Britannia Bulk Holdings Inc. (NYSE: DWT), AmeriCredit (NYSE: ACF), Ceradyne Inc. (NASDAQ: CRDN), and Paraxel International Corp. (NASDAQ: PRXL) are all being hit on strong trading volume.  Below are links for a full synopsis on each.

Goldman Sachs Group (NYSE: GS) and Morgan Stanley (NYSE: MS) have beenbeaten and battered.  Some of the drop is rumor, and some is tradersattacking what they can after determining their de-leveraged models arelikely to result in much lower income.  FULL SYNOPSIS

Britannia Bulk Holdings Inc. (NYSE: DWT) looks like it is dead meat.The company got everything wrong from operations tohedges and gave a dire warning to common stock holders.  Keep granny’smoney out.  FULL SYNOPSIS

AmeriCredit (NYSE: ACF), Ceradyne Inc. (NASDAQ: CRDN), and ParaxelInternational Corp. (NASDAQ: PRXL) are all down sharply on earnings.FULL SYNOPSIS

Jon C. Ogg
October 28, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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