Trading Where the Action Is
Stocks were trading below Friday’s lows as of midday on Monday. Motorola
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PowerRating) and Elan Corporation
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PowerRating) were both higher by more than 10% after the first half of trading. Motorola gained on news that the company had hired former Qualcomm executive Sanjay Jha to be co-CEO. Elan Corporation opened higher on Monday following the stock’s collapse on Friday which sent ELN from just over $20 to less than $10.
PeopleSupport Inc.
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PowerRating) soared on news that it was being acquired by Indian outsourcing company Aegis BPO for $250 million. Triad Guaranty Inc.
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PowerRating) was up again big on Monday following Friday’s strong gains.
Among today’s big movers to the downside as of midday are homebuilder WCI Communities Inc.
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PowerRating), which announced that it would seek Chapter 11 bankruptcy protection.
Here is a list of stocks that have gained 20% or more so far in trading today.
| Name | Symbol | % Up |
|---|---|---|
| Triad Guaranty Inc.. | TGIC | +52.74 |
| Chespeake Corporation | CSK | +46.89 |
| Simtek Corporation | SMTK | +45.46 |
| PeopleSupport Inc. | PSPT | +25.60 |
Here is a list of stocks that have lost 20% or more so far in trading today.
| Name | Symbol | % Down |
|---|---|---|
| WCI Communities Inc. | WCI | -47.62 |
| Freightcar America Inc. | RAIL | -22.11 |
| Charlotte Russe Holding Inc. | CHIC | -22.02 |
| Paetec Holding Corporation | PAET | -20.50 |
Source: MarketWatch
For a list of today’s top-rated stocks, click here.
David Penn is Senior Editor at TradingMarkets.com.