Movers: Fannie Mae, Freddie Mac, Lehman, UST, Authentec
On Sunday, the U.S. Treasury Dept. announced that it took control of Fannie Mae (FNM) and Freddie Mac (FRE), placing the GSEs under conservatorship. Under the plan, the Federal Housing Finance will assume the power of the board, and the two firms' CEOs will resign after a transitional period. Common and preferred dividends paid by each company have been suspended. NYSE announces that common, preferred stocks of FNM and FRE will be halted during the pre-market and available to all markets for trading at 9:30 am (ET).
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