The 52-Week Low Club (MS)(LEH)(WB)(FNM))(MER)(C)(JPM)

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Thornburg Mortgage (NYSE: TMA) Fear of Chapter 11. Falls to $1.26 from 52-wek high of $28.40.

CIT Group (NYSE: CIT) Lehman Brothers cuts price target. Drops to $15 from 52-week high of $61.47.

iStar Financial (NYSE: SFI) Price target cut by Citigroup. Falls to $12.71 from 52-week high of $49.84.

JP Morgan (NYSE: JPM) Worries about more write-offs. Sells down to $37.15 from 52-week high of $53.25.

Citigroup (NYSE: C) Concerns about need to raise more capital. Down to $21.11 from 52-week high of $55.55.

Merrill Lynch (NYSE: MER) Another candidate for big write-downs. Down to $45.73 from 52-week high of $95.

Fannie Mae (NYSE: FNM) Mortgage business slightly out of favor. Falls to $21.21 from 52-week high of $70.57.

Wachovia (NYSE: WB) Money center banks all dropping. Sells down to $27.36 from 52-week high of $57.45.

Lehman Brothers (NYSE: LEH) Joins investment banking low club. Drops to $45.20 from 52-week high of $82.05.

Morgan Stanley (NYSE: MS) Ditto. Down to $39.46 from 52-week high of $90.95.

Omrix Biopharmaceuticals (NASDAQ: OMRI) Misses on earnings. Falls to $13.88 from 52-week high of $40.90.

PETsMART (NASDAQ: PETM) Pets stop shopping. Earnings off. Drops to $19.64 from 52-week high of $35.48.

Douglas A. McIntyre