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Intervention in the financial markets has spurred a tremendous rally in stocks as of midday with the Dow industrials up more than 400 points and the S&P 500 ahead by more than 4%. New +rules restricting short sales in financial stocks have helped make those stocks among the more impressive gainers as of midday. Shares of Wachovia (WB | Quote | Chart | News | PowerRating) were up by nearly 38%. On Wall Street, Morgan Stanley (MS | Quote | Chart | News | PowerRating) was ahead by more than 24% by midday on Friday, as was Citigroup (C | Quote | Chart | News | PowerRating).
What moves lower on a day when the Dow is up 400 points by lunch time? Yahoo! Inc. (YHOO | Quote | Chart | News | PowerRating) was down by nearly 4% on Friday halfway through trading. Also lower was Cintas Corporation (CTAS | Quote | Chart | News | PowerRating), losing more than 5% by midday as it pulled back to its 200-day moving average.
Here is a list of stocks that have gained 20% or more so far in trading today.
| Name | Symbol | % Up |
|---|---|---|
| Franklin Credit Management Corporation | FCMC | +91.07 |
| Freddie Mac | FRE | +72.12 |
| The PMI Group | PMI | +66.15 |
| Etelecare Global Solutions | ETEL | +65.88 |
| Ivivi Technologies Inc. | IVVI | +58.07 |
| Young Broadcasting Inc. | YBTVA | +53.85 | /tr>
| Spanish Broadcasting System Inc. | SBSA | +53.13 |
| Mechanical Technology Inc. | MKTY | +45.30 |
| First Pacific Bank | FPBN | +45.18 |
| Fannie Mae | FNM | +44.90 | /tr>
| Icop Digital Inc. | ICOP | +43.75 |
| Genworth Financial Inc. | GNW | +42.30 |
| Columbia Bancorp of Oregon | CBBO | +39.85 |
| Community Bancorp | CBON | +38.00 | /tr>
| WSB Financial Group Inc. | WSFG | +23.21 |
Here is a list of stocks that have lost 20% or more so far in trading today.
| Name | Symbol | % Down |
|---|---|---|
| North American Scientific Inc. | NASM | -38.30 |
| Ames National Corporation | ATLO | -38.26 |
| Mtm Technologies Inc. | MTMC | -29.90 |
| Imarx Technologies Inc. | IMRX | -24.53 |
| Western Alliance Bancorp | WAL | -23.69 |
| Spherix Inc. | SPEX | -20.26 |
Source: MarketWatch
For a list of today's top-rated stocks, click here.
David Penn is Editor in Chief at TradingMarkets.com.
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