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The 24/7 Wall St./Flame Index: March 8 Coal Drop Hits Massey
Published:
Bad press about Chevron (NYSE: CVX) rose on news that a federal judge would delay an $18 billion damage judgement made in Ecuador. Rite Aide was hit by poor press as the Supreme Court said it will not hear “pay for delay” drug settlements. JP Morgan (NYSE: JPM) closed part of its European trading desk. One of Massey Energy’s rivals bought a smaller firm. Note: The Flame Index scans thousands of news sites 24 hours per day and ranks companies getting the most negative press right now. The Flame Index Media Analysis Algorithm crunches the data for an up-to-the-minute ranking of the hardest-hit companies.
The Flame Index started as a research tool in 2008 at the NY Innovation Design Lab (nyidlab). It was used as a general metric to evaluate companies and their risk in the media. Publicly traded Fortune 500 companies are used as a measure to calculate an overall market of negative news and the companies are ranked within that market
| Rank | Company | Ticker | Score | Change in Rank | Comments |
|---|---|---|---|---|---|
| 1 | Chevron | CVX | 37.166 | +123 | More news on $18 billion environment judgment |
| 2 | Rite Aid | RAD | 32.556 | +42 | Supreme court rejects case that would have protected sales |
| 3 | J.P. Morgan Chase & Co. | JPM | 31.228 | +48 | Closes important trading desk |
| 4 | Target | TGT | 25.368 | +36 | Concerns grow over cost of energy and impact on retail traffic |
| 5 | Intel | INTC | 25.289 | 0 | Increased competition from Nvidia in portable device market |
| 6 | Massey Energy | MEE | 24.153 | +726 | Price of coal drops and rival makes good M&A deal |
| 7 | Goldman Sachs Group | GS | 23.199 | +12 | Lingering concern about size of legal judgments for derivative instrument sales |
| 8 | Toyota Motor Corporation | TM | 22.904 | -4 | High gas price will hurt dealer traffic |
| 9 | AFLAC | AFL | 22.813 | +14 | Lands on Fortune’s most admired companies list |
| 10 | Symantec | SYMC | 22.745 | +652 | Number of visible cyber-attacks increases. |
Data and ranking provided by the Flame Index.
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