Stocks Surge on Economic Data, Possible Rate Cuts
Stocks are surging on Wedensday, boosted by the view that the Fed will cut rates next week, and data that showed the economy is holding up better than previously thought.
Blyth
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PowerRating) is the biggest gainer on the NYSE after the company reported Q3 profit and a strong FY08 outlook (read more).
CommScope
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PowerRating) is also rallying after raising Q4 guidance yesterday (read more).
Indymac Bancorp
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PowerRating), MBIA
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PowerRating) and Ambac Financial
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PowerRating) are surging on the government’s proposed mortgage bailout for subprime borrowers (read more).
China BAK Battery
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PowerRating) is the biggest gainer on the Nasdaq. The company issued a business update on Monday (read more).
Chico’s FAS
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PowerRating) is losing ground after the company missed Q3 estimates (read more).
TOP Tankers
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PowerRating) is also declining after announcing that it has priced its offering to the public of 21.0 million shares priced at $3.00 per share (read more).
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