First Acceptance (FAC) plummeted 34.8% to $5.05 after swinging to a fiscal fourth-quarter loss of $23.9 million, or 50 cents a share, from a 30-cent per-share profit last year The stock hit a 52-week low.

Progressive (PGR) said its August income plunged 37.3% year over year to $76.9 million, or 11 cents a share, as the value of premiums written and earned slipped from last year. Shares lost 2%. The stock hit a 52-week low.

Moody's (MCO) shed 0.9% after privately selling $300 million in senior unsecured bonds. Shares closed at $44.38. The stock hit a 52-week low.

Krispy Kreme Doughnts (KKD) Moody's Investors Service lowered Krispy Kreme Doughnuts Inc.'s speculative grade liquidity rating and cut the doughnut shop's rating outlook to negative. Late Thursday, the credit rating agency downgraded the company's speculative grade liquidity rating to "SGL-4" from "SGL-3." The ratings service said the downgrade "reflects Moody's belief that Krispy Kreme's ongoing poor performance and weak cash flow generation will likely pose serious liquidity challenges over the next 12 months as the company may have difficulty meeting its forecast and covenant requirement." Moody's also said the ratings outlook change was due to "the challenge management faces of dramatically and quickly turning the operating performance to avoid any potential covenant violations." Moody's also affirmed Krispy Kreme's "Caa1" corporate family rating and "B3" rating of its $160 million senior secured credit facilities. Both of those ratings are non-investment grade. (AP) The stock hit a 52-week low.

National City Corp. (NCC), a Cleveland-based bank that cut 500 employees last month at its mortgage business, announced eight hundred more layoffs. (BusinessWeek) The stock hit a 52-week low.