Log in to your IBTimes Account

close
ID
Password

S&P SmallCap 600 in Focus: BKUNA SFY



By AP
23 June 2008 @ 12:47 pm EST

NEW YORK - Shares of BankUnited Financial Corp. continued their slide on Monday, showing the biggest decline on the Standard & Poor's SmallCap 600 Index following a market-wide sell-off last week and an uptick in oil prices.

Related Topic

Get stories by e-mail on this topic.

E-mail:

The S&P 600--which tracks stocks with a market capitalization between $300 million and $2 billion--lost 2.27 points to 382.18.

Smallcap companies make up about 3 percent of the total U.S. securities market, but are often cited as good investments due to their low valuations and potential to grow into big-cap stocks.

BankUnited plunged 37 cents, or 22 percent, to $1.31 after hitting an all-time low of $1.24 earlier in the session. Shares of the regional bank have lost more than half their value in the last week.

Other financial stocks traded lower. Downey Financial Corp. shed 58 cents, or 14 percent, to $3.57.

Flagstar Bancorp Inc. lost 40 cents, or 12.5 percent, to $2.81, after touching an eight-year low of $2.75.

Energy stocks were among the top gainers. Independent oil and gas company Swift Energy Co. rose $4.04, or 6.7 percent, to $64.83, after hitting a fresh all-time high of $65.

Light, sweet crude rose $2.45 to $137.81 a barrel on the New York Mercantile Exchange.

LoJack Corp., which makes security products for automobiles and construction equipment, rose 60 cents, or 6.4 percent, to $9.93.

Petroleum Development Corp. rose $4.14, or 6.1 percent, to $71.89.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

    Click!
  • Rate this article:

Comments

Post Your Comment

You must be an IBTimes member to post a comment. Login | Register


advertisement
More Industries
A unit of ITT Corp. received a $10.4 million contract boost from the Air Force to cover costs increases to maintain an existing program, plus project cer...
Morgan Stanley stock tumbled Tuesday on a rumor that Mitsubishi UFJ Financial Group Inc. would withdraw from an agreement to buy nearly a quarter of the ...
Circuit City Stores Inc. is working with advisers to determine how to substantially improve the nation's No. 2 consumer electronic retailer's operating a...

Advertisement
Corporate Website Design

Professional Website Design For Corporate - Get a Free Quote Today

advertisement
 
IBTimes.com Web
Partners
International Business Times© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives