Virginia stocks continue to fluctuate
- September 16, 2008
Virginia stock prices continued to fluctuate Tuesday morning, one day after the U.S. market’s worst fall since markets opened following the 9/11 terrorist attacks.
Some companies, such as General Dynamics and ManTech International, saw their stocks gain ground from yesterday. General Dynamics, which dropped $1.02 Monday, was up 71 cents at 10:20 a.m. Tuesday. Capital One Financial Corp., whose stock price fell $1.24 on Monday, had gained $1.19 Tuesday morning.
Other Virginia stocks continue to fall. AES’ stock prices dropped another 67 cents to $12.22, after falling $1.33 on Monday. The state’s coal companies continued to fall Tuesday morning and Richmond-based Genworth Financial has seen its stock slide another $1 to $12.86, after falling $1.25 on Monday.
The Dow Jones Industrial Average remained fairly steady Tuesday after falling 504 points on Monday. The index was down by only 24 points, or 0.22 percent, as of mid-morning.
Wall Street was reeling Monday after Lehman Brothers filed for bankruptcy, Bank of America agreed to buy investment and brokerage firm Merrill Lynch for $50 billion and insurer AIG was downgraded by three credit rating agencies. Today the markets should continue to fluctuate based on whether AIG can be saved, and the Federal Reserve’s decision whether or not to cut the federal funds rate.
Here is how Virginia’s 15 largest public companies performed as of 10:20 a.m.:
Altria Group, down 35 cents, $20.56
General Dynamics, up 71 cents, $84.66
Dominion Resources, down 35 cents, $41.37
Smithfield Foods, down 77 cents, $19.89
AES, down 67 cents, $12.22
Gannett, down 33 cents, $15.99
MeadWestvaco, down 4 cents, $26.60
Owens & Minor, down 17 cents, $45.08
NVR, down $5.18, $578.82
Advance Auto Parts, down 2 cents, $40.24
Circuit City, up 5 cents, $1.68
Capital One, up $1.19, $45.89
Genworth Financial, down $1.00, $12.86
Norfolk Southern, up 8 cents, $65.95
CarMax, down 56 cents, $14.64
Robert Powell and Paula Squires contributed to this report.