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Financial Stocks in Spotlight

 


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New York, New York - Allied Irish Banks, plc. (ADR) (NYSE:AIB) plunged 7.81% to $1.18 on over 10.18 million shares. The company priced a public offering of 26,700,000 contingent mandatorily exchangeable notes due November 15, 2010, in connection with the proposed disposal of its approximately 22.4% shareholding in M&T Bank Corporation at a price of $77.50 per Note, raising net proceeds of approximately $2.0 billion.

In the past six months of trading sessions, the stock went down more than 69%. The 52-week range of the stock is $1.16-$9.20. The 52-week low of the stock is $1.16, made by the stock today.

Corinthian Colleges, Inc. (NASDAQ:COCO) dropped 7.45% to $6.46 on over 6.93 million shares. Over the past one month of trading sessions, the stock went up more than 27% and is down more than 52% year-
to-date.


Corinthian Colleges, Inc. is a post-secondary education company in the United States and Canada, serving the segment of the population seeking to acquire career-oriented education.

Star Scientific, Inc. (NASDAQ:CIGX) lost 5.29% to $1.97 on over 4.31 million shares. The company said Monday that it received a letter from the Patent Office vacating the Offices's earlier Notice of Intent to Terminate the reexamination of the Star Scientific's " ‘649" and " ‘401" patents.

According to Star Scientific, the reexamination proceedings were a tactical attempt by RJ Reynolds Tobacco Company to delay the jury trial of Star's patent infringement lawsuit against that company.

Over the past 52-week, the stock traded within the range of $0.51-$3.69. In the past one month of trading sessions, the stock went up more than 16%.

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Shares of Borders Group, Inc. (NYSE:BGP) closed 10.13% lower at $1.42 on over 2.63 million shares. Last week, the company said that its shareholders approved issuing stock purchase warrant to Bennett LeBow's LeBow Gamma Limited Partnership. The warrants can be exercised to buy 35.1 million shares of Borders’ common stock.

LeBow Gamma has invested $25 million for 11.11 million shares in the book retailer.

Over the past six months of trading sessions, the stock fell more than 44%. Volumes were high today as already 2.63 million shares are traded while its average daily volume of 1.09 million shares.

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