Wednesday, February 25, 2009

Dallas stocks: Who’s up, who’s down?

The Dow Jones industrial average was down another 198.48 points by 2:30 p.m. Central standard time Monday afternoon, hitting 7,167.19 — a figure that teases the possibility of the Dow dipping below 7,000.

The NASDAQ also was down 40.97 points, hitting 1,400.26, while the S&P 500 fell 23.84 points to 746.21.

While many Dallas-based companies felt the pinch of falling stock prices, a few companies reported stock gains early Monday afternoon.

Among them was Tenet Healthcare Corp. (NYSE: THC), which saw its stock price rise 7.14 percent on Monday, hitting $1.05 per share, up from 98 cents at close the day prior. Tenet’s earnings are expected this week. Earlier this month, the hospital operator announced it had inked a deal to sell USC University Hospital and USC Kenneth Norris Jr. Cancer Hospital for $275 million — with proceeds used to cover general corporate expenses, according to the company. Frozen Food Express Industries (NASDAQ: FFEX) also rose 4.58 percent to $3.88 per share.

Airline stocks including Fort Worth-based AMR Corp. (NYSE: AMR), the parent company of American Airlines Inc., recorded a stock price of $4.48 per share, up 4.43 percent in the late afternoon. Dallas-based Southwest Airlines (NYSE: LUV) was up slightly by .15 percent to $6.53 per share.

On the downside, many Dallas-Fort Worth area stocks remained in the red.

Below is a list of several major players with falling stock prices as of 2:30 p.m. CST:

Commercial Metals Co. (NYSE: CMC), down 8.41 percent to $10.13 per share; XTO Energy Inc. (NYSE: XTO), down 5.75 percent to $30.15 per share; Crosstex Energy LP (NYSE: XTEX), down 6.25 percent to $3.15 per share; Torchmark Corp. (NYSE: TMK), down 6.21 percent to $20.70 per share; Pioneer Natural Resources (PXD), down 7.43 percent to $13.96 per share; Idearc (NYSE: IDAR), down 17.65 percent to 7 cents per share.