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The 24/7 Wall St./Flame Index: Frontier Oil Holders Revolt Against Merger
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Shareholders of Frontier Oil are displeased about its merger with Holly Corp. It would be more accurate to say that Holly is making an acquisition for $2.9 billion. Shareholder class actions suits have already started. Forest Laboratories was also hit by a wave of negative news as it said it would buy Clinical Data for $1.2 billion.
Note: The Flame Index scans thousands of news sites 24 hours per day and ranks companies getting the most negative press right now. The Flame Index Media Analysis Algorithm crunches the data for an up-to-the-minute ranking of the hardest-hit companies.
The Flame Index started as a research tool in 2008 at the NY Innovation Design Lab (nyidlab). It was used as a general metric to evaluate companies and their risk in the media. Publicly traded Fortune 500 companies are used as a measure to calculate an overall market of negative news and the companies are ranked within that market.
| Rank | Company | Ticker | Score | Change in Rank | Comments |
|---|---|---|---|---|---|
| 1 | Frontier Oil | FTO | 40.58 | +659 | Deal with Holly is swamped by angry shareholders |
| 2 | Borders Group | BGP | 37.952 | -1 | Still suffering from the impact of Chapter 11 announcement |
| 3 | GOOG | 31.894 | 0 | Worries mount over antitrust action in Europe. The next Microsoft? | |
| 4 | Forest Laboratories | FRX | 28.738 | +272 | Pressure on firm as it buys Clinical Data. |
| 5 | Best Buy | BBY | 28.423 | -3 | Company management attacked because of closure of China stores and weak outlook in US |
| 6 | Family Dollar Stores | FDO | 26.546 | +7 | Locked in struggle against Nelson Peltz buyout |
| 7 | Fannie Mae | FNMAS | 26.353 | -3 | Government plan to dismantle mortgage firm looms |
| 8 | Allstate | ALL | 25.348 | +4 | Concern about insurance company suit against Citigroup and Deutsche Bank for hiding losses on mortgage paper it was sold |
| 9 | Genzyme | GENZ | 25.277 | +18 | Some shareholders believe Sanofi-Aventis buyout price was too low. |
| 10 | Walt Disney | DIS | 25.176 | +126 | Netflix and Amazon plans to stream content may take leverage away from studios |
Data and ranking provided by the Flame Index.
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