Microsoft Corp.'s withdrawal of its $47.5 billion bid for Yahoo Inc. dominated headlines at the beginning of the week, sending shares of the iconic Web content provider plunging $4.30, or 15 percent. The stock closed Monday at $24.37 in more than six times the normal trading volume.
The stock regained some ground later in the week, however, as some analysts were hopeful that Microsoft would make another pass at the company. Still, the stock slipped 29 cents to end the week at $25.93, with shares off 9.6 percent from last Friday's close of $28.67.
On Tuesday, investors pushed shares of Fannie Mae higher after its federal regulator, the Office of Federal Housing Enterprise Oversight, said it will reduce the required capital cushion for the nation's biggest buyer of home loans.
After it raises an anticipated $6 billion in a stock sale, Fannie will be required to keep 15 percent of total mortgage debt in surplus capital, down from the current 20 percent. Another cut is expected in September, provided it remains in line with regulations, the regulator said.
Shares of Fannie Mae climbed $2.52, or 8.9 percent, to $30.81 on Tuesday, with volume more than three times the daily average.
However, investors wiped out most of the gain later in the week. On Friday, the stock gained 18 cents to finish the day at $27.81, ending 1.7 percent lower than Monday's close of $28.29.
DirectTV Group Inc. posted better-than-expected first-quarter earnings on Wednesday, sending its stock soaring. The satellite television provider said its profit rose 10.4 percent to 32 cents per share, topping Wall Street estimates, thanks to a large boost in the number of new U.S. subscribers.
Shares of the Los Angeles-based company climbed $1.21, or 4.7 percent, to end Wednesday at $27.02. Trading volume was nearly twice the daily average.
The stock ended down 38 cents on Friday to finish the week at $27.02, but was still 4.7 percent higher than Tuesday's $25.80 finish.
On Thursday, shares of Hansen Natural Corp. plunged to their lowest level in more than a year after the beverage maker said late Wednesday that its first-quarter profit missed expectations due in part to lower sales of its Monster energy drink.
Hansen shares plunged $5.46, or 15.3 percent, to close Thursday at $30.14. On Friday, the stock continued its fall, giving up $1.54, or 5.1 percent, to close at $28.60, off 19.7 percent from Wednesday's close of $35.60. Earlier in the session Friday, the stock slid to a new 12-month low of $28.20.
After the closing bell Thursday, insurer American International Group Inc. said its first-quarter loss widened to $7.81 billion and disclosed a plan to raise $12.5 billion in the coming months to shore up a capital base gutted by the deteriorated credit market.
On Friday, its shares tumbled $3.87, or 8.8 percent, to end the week at $40.28, with volume more than three times the daily average.
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