This last week has been pretty rough and tumble in the markets. Lehman Brothers (LEH) continues the parade of subprime mortgage disasters to grace the scorched earth of the stock market. The company was hoping to sell out to Korea Development Bank, but after KDB pulled out of the deal Lehman started dropping like a rock. Lehman announced on Wednesday that they lost $3.9 billion and on Thursday refused to respond to rumors the company was looking for a buyer. Tough times for shareholders and employees at Lehman this last week.
Hurricane Ike is bearing down on Texas and I hope everyone in that area stays safe. Yesterday my wife texted me at work to tell me lines at the gas stations in our area were backed up. There was a rumor going around that gas was jumping to $5 on Friday due to the evacuation of oil rigs and refineries in and around Texas. There was no credible evidence of this rumor that I could find. Oil actually fell below $101 a barrel yesterday. Lookout T. Boone.
The Thoroughbred Folio actually gained some strength over the last week. Family Dollar (FDO) has overtaken Rohm and Haas (ROH) for the lead. Family Dollar is defying convention and showing sales improvements in a weak economy. Wrigley (WWY) is hanging tough in the third spot. We have four companies with over a 30% gain and two others with a 20% gain. Could the strength of our dividend Folio be a sign that we are at a turning point?
The bottom stocks have held up well this week. Despite Lehman’s fall from grace, Regions Financial (RF) and the other financials in our Folio remained flat. I take this as good news moving forward. Of course, we still have Gannett vying for the bottom spot and it is very close to accomplishing that task.
We had two dividend payments this week. Johnson & Johnson (JNJ) and Anheuser Busch (BUD) distributed $0.51 and $0.52 respectively.
Thoroughbred Performance (Week 38 of 52): $-133.09 (-4.44%) Dividends To Date: $63.59
Top 3 Stocks
- Family Dollar $35.57 (47.43%)
- Rohm and Haas $28.36 (37.81%)
- WM Wrigley $24.86 (33.14%)
Bottom 3 Stocks
- Regions Financial $-38.10 (-50.80%)
- Gannett $-36.35 (-48.46%)
- Fifth Third $-30.62 (-40.82%)
Stocks used in this post:
- (BUD: 0.00, N/A, Yield: N/A%)
- (FDO: 25.07, 0.00%, Yield: 1.95%)
- (FITB: 7.71, 0.00%, Yield: 15.30%)
- (GCI: 6.09, 0.00%, Yield: 26.27%)
- (JNJ: 55.81, 0.00%, Yield: 3.16%)
- (LEH: 0.00, N/A, Yield: N/A%)
- (RF: 7.66, 0.00%, Yield: 16.19%)
- (ROH: 71.25, 0.00%, Yield: 2.25%)
- (WWY: 0.00, N/A, Yield: N/A%)
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