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Stocks shook off early selling to move strongly higher as of midday on Wednesday, with the Nasdaq up more than 1%. Nasdaq shares moving higher included those of Qualcomm (QCOM | Quote | Chart | News | PowerRating), up more than 3%, and Research in Motion (RIMM | Quote | Chart | News | PowerRating) up more than 4%.
Also moving higher on Wednesday as of midday were shares of Freeport-McMoran Copper & Gold (FCX | Quote | Chart | News | PowerRating), which was up more than 5%. The stock had traded lower for eight consecutive days and was extremely oversold.
Among Wednesday's biggest midday movers to the downside were Washington Mutual (WM | Quote | Chart | News | PowerRating). The savings and loan's outlook was lowered by Standard and Poor's yesterday from "stable" to "negative." Dollar Thrifty Automotive Group (DTG | Quote | Chart | News | PowerRating), a stock that had been on our "Consider Avoiding" list at TradingMarkets for the past two days, was also among today's biggest losers.
Here is a list of stocks that have gained 20% or more so far in trading today.
| Name | Symbol | % Up |
|---|---|---|
| Fortress International Group Inc. | FIGIW | +51.56 |
| American Community Bancshares | ACBA | +48.57 |
| Alsius Corporation | ALUSW | +42.86 |
| First Mariner Bancorp | FMAR | +32.34 |
| Blue Holdings Inc. | BLUE | +20.70 |
Here is a list of stocks that have lost 20% or more so far in trading today.
| Name | Symbol | % Down |
|---|---|---|
| Encorium Group Inc. | ENCO | -46.88 |
| Capital Crossing PR Series | CCPCN | -26.87 |
| Yadkin Valley Financial Corporation | YAVY | -25.37 |
| Dollar Thifty Automotive Group | DTG | -24.70 |
| Washington Mutual Inc. | WM | -22.42 |
| Gfi Group Inc. | GFIG | -21.96 |
| Gravity Company Ltd. | GRVY | -21.63 |
| Ashworth Inc. | ASHW | -21.16 |
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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