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Hot Stocks of the Week: C UPS BA RIMM ANDE



By AP
27 June 2008 @ 04:36 pm EST

NEW YORK - Rising oil prices affected many companies this week and produced a bevy of movers, while shares of Citigroup Inc. traded on news that the bank is about halfway done cutting 10 percent of the 65,000 employees in its investment banking unit.

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Quotes
C 19.07 -0.01
UPS 64.48 -0.22
RIMM 121.49 -5.16
ANDE 45.47 0.51
BA 65.9 -0.44

SYMBOL LOOKUP

While struggling to recover from bad investments on mortgages, the unit plans to lay off about 6,500 workers in the division.

In above-average trading volume, shares declined 3.9 percent to close on Monday at $18.55.

On Thursday, Goldman Sachs analyst William F. Tanona added Citigroup to a list of stocks to sell, the "Conviction Sell" list, and downgraded the brokerage sector.

Shares bottomed at $17.53 and declined 6.3 percent to close at $17.67 in nearly twice the stock's average trading volume, as stocks on Wall Street tumbled on higher oil prices and inklings of trouble in the financial, technology and automotive sectors.

On Friday, shares hit $16.91, a level not seen since 1998, and finished the day down 42 cents, or 2.4 percent, to $17.25--down 10.6 percent for the week.

Shares of UPS Inc. sank on Tuesday as record fuel costs caused the world's largest shipping carrier to cut its fiscal second-quarter profit outlook.

Shares fell $4, or 6 percent, to $62.26, after hitting $62.18, a level not seen since 2003. So far this year, shares have lost 15.3 percent of their value.

Shares hit $61.18 on Wednesday, and hit $59.83 on Thursday, and then on Friday, the stock set a five-year low of $59.30 as oil futures climbed to a new record near $143 a barrel Friday.

On Friday, the stock rose 49 cents to $60.37, down 3.1 percent from Monday's closing price.

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 This material may not be published, broadcast, rewritten or redistributed.

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