Premium Membership
2010
27th
July 6:41am

Most volatile movements at NYSE: (IRE, MPG, HOV, MNI, SPF)


Dear PSL members,

Most volatile movements at NYSE: (IRE, MPG, HOV, MNI, SPF)

Bank of Ireland (ADR) (NYSE: IRE) reported the gain of 9.56% to close at $4.47 whereas overall traded volume stood at 6.61 million shares. Its total market capitalization stood at $1.33 billion shares. Bank of Ireland and its subsidiaries provide a range of banking and other financial services. It operates in five segments:  Retail Republic of Ireland, Bank of Ireland Life, UK Financial Services, Capital Markets and Group Centre. Its subsidiaries include Bank of Ireland International Finance Limited, Bank of Ireland (IOM) Limited, Bank of Ireland Life Holdings Limited, Bank of Ireland Mortgage Bank, First Rate Enterprises (UK) Limited, Midasgrange Limited and ICS Building Society. During the year ended December 31, 2009, the Company disposed of its interest in Iridian Asset Management LLC (Iridian).

MPG Office Trust, Inc. (NYSE: MPG) closed at $3.10 after moving up by 5.80% with total traded volume of 2.20 million shares. Its total market capitalization ended at $148.83 million shares in the last trading session. MPG Office Trust, Inc., formerly Maguire Properties, Inc. (Maguire Properties) is a full service real estate company with knowledge in in-house expertise and resources in property management, marketing, leasing, acquisitions, development and financing. The Company is the owner and operator of Class A office properties in the Los Angeles central business district. It is focused on owning and operating office properties in the Southern California market.

Hovnanian Enterprises, Inc. (NYSE: HOV) went up by 6.53% to close at $4.57 whereas traded volume stood at 4.04 million shares. HOV’s total market capitalization arrived at $354.81 million for the day. Hovnanian Enterprises, Inc. (Hovnanian) designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, mid-rise and high-rise condominiums, urban infill and active adult homes in planned residential developments. The Company has delivered approximately 286,000 homes, including 5,659 homes during the fiscal year ended October 31, 2009 (fiscal 2009). The Company consists of two operations:  homebuilding and financial services. Its homebuilding operations consist of six segments:  Northeast, Mid-Atlantic, Midwest, Southeast, Southwest and West. Its financial services operations provide mortgage loans and title services to the customers of its homebuilding operations.

The McClatchy Company (NYSE: MNI) gained by 5.59% and closed at $3.78 with overall traded volume of 1.01 million shares. Its price to earnings ratio stood at 3.32. The McClatchy Company (McClatchy) is a hybrid print and online, news and advertising company. The Company’s newspapers range from the dailies serving metropolitan areas to non-daily newspapers serving small communities. McClatchy-owned newspapers include, among others, The Miami Herald, The Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City Star, The Charlotte Observer, and The (Raleigh) News & Observer.

Standard Pacific Corp. (NYSE: SPF) closed at $3.98 after increasing by 4.46% whereas total traded volume stood at 3.70 million shares. Its price to earnings ratio arrived at 66.33. Standard Pacific Corp. is a geographically diversified builder of single-family attached and detached homes. The Company constructs homes within a range of price and size targeting a range of homebuyers. It has operations in metropolitan markets in California, Florida, Arizona, Texas, the Carolinas, Colorado and Nevada. In addition to its core homebuilding operations, the Company also has a mortgage banking subsidiary that originates loans for its homebuyers, which are generally sold in the secondary mortgage market and a title services subsidiary that acts as a title insurance agent performing title examination services for its Texas homebuyers. The Company operates in two segments:  homebuilding and financial services.

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