Boston Scientific (NYSE: BSX) lost ground after it disclosed that its short-term CEO, Ray Elliott, would leave. Elliott joined the firm two years ago to engineer a turnaround which never happened.
Yahoo! (NASDAQ: YHOO) fell after China internet company Alibaba sold a controlling interest in its Alipay online payment operations to the parent company’s founder. Yahoo! owns 43% of Alibaba and the market’s perception is that its position was devalued by the Ailipay transaction.
Citigroup (NYSE: C) finally reverse split its stock 10-for-1. The market was not fooled by the new “higher” stock price and punished shares because the transaction reminded Wall St. that the split did nothing to help the bank’s weak position among large global financial firms.
Goldman Sachs was downgraded by renegade bank analyst Richard Bove of Rochdale downgraded the stock
Two home builders, Pulte and Lennar, sold off as news about the American housing market worsened.
| S&P 500 WEEK: BOTTOM 10
(6 MAY – 12 MAY) |
Ticker |
Weekly Price Change (%) |
Close Price 12May11 |
Close Price 6May11 |
Market Cap ($Mil) |
| Boston Scientific Corp | BSX |
-10.5 |
6.91 |
7.72 |
10558.6 |
| Yahoo Inc | YHOO |
-7.9 |
17.17 |
18.65 |
22482.6 |
| Block (H&R) Inc. | HRB |
-7.4 |
15.96 |
17.24 |
4871.8 |
| Citigroup Inc | C |
-6.2 |
42.42 |
45.20 |
123255.7 |
| First Horizon National Corp | FHN |
-5.1 |
10.43 |
10.99 |
2746.6 |
| Archer-Daniels-Midland Co | ADM |
-4.9 |
32.30 |
33.97 |
20584.9 |
| Goldman Sachs Group Inc | GS |
-4.9 |
142.75 |
150.10 |
73948.4 |
| Tesoro Corp | TSO |
-4.5 |
23.80 |
24.91 |
3410.0 |
| Lennar Corp | LEN |
-4.3 |
17.74 |
18.53 |
2760.9 |
| PulteGroup Inc | PHM |
-3.8 |
7.66 |
7.96 |
2932.3 |
| Source: Capital IQ |
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