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 |
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
