Movers: Freddie Mac, Wells Fargo, AMR, Overstock.com

Wednesday's stocks in the news

Freddie Mac (FRE) cuts quarterly dividend by 50% to $0.25 per share. The mortgage lender announces that it will issue $6 billion of non-cumulative perpetual preferred stock. The issuance will involve a larger offering of non-convertible non-cumulative perpetual preferred stock, and a substantially smaller offering of convertible non-cumulative perpetual preferred stock. S&P maintains sell.

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