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All Posts Author: Patrick Stevens

American International Group, Inc. (AIG)

Shares of American International Group (NYSE:AIG) fell roughly 31% today as investors continue to worry about other financial institutions that might file for bankruptcy protection due to a lack of credit available in the market. Companies investors are worried most about include Lehman Brothers (NYSE:LEH), down 13.5%, which is shopping for a buyer this weekend, Washington Mutual (NYSE:WM), down 3.5%,  which has similar credit issues due to mortgages that it currently holds as Lehman and AIG, and Merrill Lynch (NYSE:MER), down 12.25%, for the same stated earlier reasons.

Corning Inc. (NYSE:GLW)

Corning Inc (NYSE:GLW) continues to slide reaching a new 52 week low today after being downgraded by RBC Capital Corp and cutting their third quarter outlook yesterday. But the current price/earnings ratio is too low for a company with the earnings and revenue growth displayed.

NASDAQ and Russell 2000 on Hold

The NASDAQ Composite and the Russell 2000 have signaled a hold mid-week with the Dow Jones Industrials and the S&P 500 still long. This was anticipated on August 21st as the indexes where not climbing but trading in a range and the news around the market was not bullish.

Dell Inc. (DELL)

Dell Inc. (DELL) missed its earnings expectations today and looks to be expensive even after a 12% drop in stock value. Analysts were looking for 36 cents a share but the company could only earn 31 cents for the previous 3 months.

iShares MSCI Japan Index (EWJ)

Some countries are being affected by the global slowdown more than others. The iShares MSCI Japan Index (EWJ) is in the mist of a trend downward that has not taken too many pauses. Begun at the beginning of June, the index Exchange Traded Fund (ETF) has dropped 20% from 13.83 to 11.20 on August 25th.

Akamai Technologies Inc. (AKAM)

Strong Call option buying in Akamai Technologies (AKAM) on Friday is a positive sign for the company. Most of the buying was in the front month of September with some additional buying in the October Calls noted.

Whole Foods Continues to Slide

Whole Foods Market Inc (WFMI) finished the week with a little uptick as volume spiked at the close on Friday but the weeks chart looks similar to Freddie Mac (FRE). Of course Freddie Mac dropped 43% this week while Whole Foods only dropped 6%. But the continued slide looks similar.

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