SOURCE: Ridgewater Equity

Ridgewater Equity

November 23, 2009 06:38 ET

Ridgewater Equity Detailed Review on Western Refining Inc., Northgate Minerals Corp., Companhia Energetica de Minas Gerais, New York Community Bancorp Inc., Progressive Corp. and Vornado Realty Trust

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Ridgewater Equity (RWE).

LONDON--(Marketwire - November 23, 2009) - Markets continue to show weakness. The US economic news was mixed. Jobless claims were unchanged last week but the prior week was revised up by 3,000 claims. Continuing claims came in at 5.61 million. There was some disappointing news on the housing front - mortgage delinquencies rose to 9.64%. Ridgewater Equity has recently begun technical & fundamental analysis of the following equities & their respective sectors:

1.  Western Refining Inc. (NYSE: WNR)
    Sector: Basic Materials
    Although this stock has experienced a considerable drop in the value
    from $16.30 levels to $4.72 in last one year, but...

2.  Northgate Minerals Corp. (AMEX: NXG)
    Sector: Basic Materials
    Lower realized copper prices and a significantly higher tax rate
    adversely affect the revenue and profit margin of company but we...

3.  Companhia Energetica de Minas Gerais (NYSE: CIG)
    Sector: Utilities
    Since August the stock movement is relatively flat at $15 with good
    volumes. However...

4.  New York Community Bancorp Inc. (NYSE: NYB)
    Sector: Financial
    NYB ended the last trading session at $11.71. So far the stock has hit
    a 52-week low of $7.68 and 52-week high of $14.10...

5.  Progressive Corp. (NYSE: PGR)
    Sector: Financial
    The Progressive Corporation hit a new 52-Week high of $17.50 so far
    today. Currently the stock is....

6.  Vornado Realty Trust (NYSE: VNO)
    Sector: Financial
    The scrip has been rising since third week of October but saw some
    trend violating correction in between. It has again....

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