FNM, FRE, ASEI, NVDA, CROX, KFN, XIDE Popular Stocks
U.S. stocks climbed Friday as the Dow Jones Industrial Average rose 0.02% to 10008, the S&P 500 gained 0.05% to 1067 and the Nasdaq Composite increased 0.15% to 2109.
Fannie Mae (NYSE:FNM, $1.05, -$0.07, -6.26%) posted a narrower third-quarter loss but reported $22 billion of credit-loss provisions and foreclosed-property costs as it continues to deal with spiking delinquency rates. The mortgage financier, placed under conservatorship 14 months ago to prevent its potential implosion, requested another $15 billion of aid as part of the $200 billion package extended to it. Fannie has received $44.9 billion so far. Freddie Mac (NYSE:FRE, $1.21, -$0.04, -3.20%) was also down.
American Science & Engineering Inc.’s (NASDAQ:ASEI, $73.67, +$3.32, 4.72%) second-quarter results topped Wall Street expectations. The supplier of X-ray inspection systems said the beat was helped by the company’s favorable product mix, and continued success in reducing costs.
Nvidia Corp. (NASDAQ:NVDA, $13.12, +$0.85, 6.93%) said Thursday its fiscal third-quarter profit–the company’s second in the past five quarters–jumped 74%, helped by higher margins and strong demand for its graphics cards. The graphics-chip maker’s results far exceeded its own and Wall Street’s expectations and it predicted fiscal fourth-quarter revenue above analysts’ estimate.
Crocs Inc. (NASDAQ:CROX, $5.63, -$1.21, -17.69%) dropped a day after the shoe maker issued a disappointing forecast for the fourth quarter. Third-quarter results were much better than expected, with the company reporting a surprise profit. But President and Chief Executive John Duerden said in a conference call, according to a FactSet transcript, that the fourth quarter “may not repeat some of the successes” of the third.
KKR Financial Holdings LLC’s (NYSE:KFN, $5.52, +$0.34, 6.57%) third-quarter income grew 37% on a drop in interest expense and a gain on investments.
Exide Technologies’ (NASDAQ:XIDE, $7.24, +$0.22, 3.13%) fiscal second-quarter loss narrowed on higher margins while revenue continued to slump. The battery maker posted a surprise profit excluding charges.
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