The market continued to defy the usual for September. The S&P 500 finished last week at 1,068.30 -- up 2.5% -- having risen nine out of the previous 11 trading days.
Pops and drops
Here are the five biggest S&P 500 increases and the five biggest S&P 500 drops of last week (measured Friday close to Friday close):
Winners:
|
Company |
Percentage Gain |
|---|---|
|
Gannett |
17% |
|
Baker Hughes |
17% |
|
Genworth Financial |
17% |
|
Marshall & Ilsley |
16% |
|
Zions Bancorp |
16% |
Source: Capital IQ (a division of Standard & Poor's).
Losers:
|
Company |
Percentage Loss |
|---|---|
|
Coventry Health Care |
(16%) |
|
Eastman Kodak |
(10%) |
|
Laboratory Corp. of America |
(8%) |
|
Citigroup |
(8%) |
|
Nvidia |
(7%) |
Source: Capital IQ (a division of Standard & Poor's).
A look at some of the movers
Genworth Financial rose last week after it raised $564 million in capital via a secondary offering. In this environment, the ability to raise capital isn't a given.
Last week, Kodak cut a deal with private equity firm Kohlberg, Kravis Roberts (KKR), which will buy $400 million of Kodak's bonds. As part of the deal, Kodak has agreed to give KKR warrants to buy up to 53 million shares. In addition, the company said it would offer $300 million in convertible bonds. The price of both actions highlight the company's rickety capital position -- combined, the capital raises could dilute shares up to 35% to 40%.
Interested in the other stocks on this list? Visit The Motley Fool's free CAPS community for further research and opinions on them.
Related Foolishness:
