Downgrades: FNM, FRE, ELY, LUV

This morning, KBW downgraded shares of Fannie Mae (FNM) and Freddie Mac (FRE) to Underperform and...  More »

This morning, KBW downgraded shares of Fannie Mae (FNM) and Freddie Mac (FRE) to Underperform and reduced its price target to zero for both companies. The firm believes both companies need to recapitalize through the banks, with the banks retaining equity on each loan sold to Fannie and Freddie.  « Less