Trading Where the Action Is!
Stocks were in bounce mode as of midday on Tuesday, with the Nasdaq and the S&P 500 both up more than 3% halfway through trading. Today’s gains so far are in part a reaction to the powerfully oversold conditions created by Monday’s historic decline.
Financial stocks are the main beneficiaries of today’s buying pressure, as shares of Sovereign Bancorp Inc.
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PowerRating) added a whopping 71% as of midday, and Wachovia
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PowerRating) leapt by more than 60%. Other financial stocks advancing halfway through trading on Tuesday were Citigroup
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PowerRating), up more than 14%, and JP Morgan Chase & Company
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PowerRating), which was ahead by nearly 12%.
Also higher were Nasdaq stocks such as Research in Motion
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PowerRating), which had gained more than 9% as of midday on Tuesday, and Amazon.com
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PowerRating), up by more than 8%.
Here is a list of stocks that have gained 20% or more so far in trading today.
| Name | Symbol | % Up |
|---|---|---|
| Sovereign Bancorp Inc. | SOV | +71.67 |
| Wachovia Corporation | WB | +62.49 |
| Huntsman Corporation | HUN | +60.27 |
| Genworth Financial Inc. | GNW | +60.20 |
| National City Corporation | NCC | +37.50 |
| California Coastal Communities Inc. | CALC | +36.45 |
| Fleetwood Enterprises Inc. | FLE | +35.14 |
| Xtent Inc. | XTNT | +34.29 |
| Conexant Systems Inc. | CNXT | +33.68 |
| Zvue Corporation | ZVUE | +33.19 |
| Community Central Bank Corporation | CCBD | +32.70 |
| Capital Corporation of the West | CCOW | +30.38 |
| Fifth Third Bancorp | FITB | +25.91 |
| Jazz Pharmaceuticals Inc. | JAZZ | +25.44 |
Here is a list of stocks that have lost 20% or more so far in trading today.
| Name | Symbol | % Down |
|---|---|---|
| Cypress Semiconductor Corporation | CY | -73.67 |
| Magna Entertainment Corporation | MECA | -60.00 |
| Dearborn Bancorp Inc. | DEAR | -48.70 |
| First State Bancorporation | FSNM | -41.58 |
| Onstream Media Corporation | ONSM | -36.59 |
| Ap Pharma Inc. | APPA | -33.04 |
| LNB Bancorp Inc. | LNBB | -31.42 |
| Flagstar Bancorp Inc. | FBC | -30.79 |
| Reliant Energy Inc. | RRI | -30.06 |
| Circuit City Stores, Inc. | CC | -29.63 |
| Pacific Ethanol Inc. | PEIX | -23.56 |
| CNA Surety Corporation | SUR | -23.33 |
| Socket Mobile Inc. | SCKT | -22.22 |
| Silicon Graphics Inc. | SGIC | -22.11 |
| Gushan Environmental Energy | GU | -21.60 |
| Santander Bancorp | SBP | -21.03 |
Source: MarketWatch
For a list of today’s top-rated stocks, click here.
David Penn is Editor in Chief at TradingMarkets.com.