6 Rallying Stocks As Market Dips: TLB, MSO, AMR, FSLR, STP, CMED
The stock market is slipping today as investors hopes of a Europe deal are starting to dwindle. Investors have been hopeful for the past two weeks that a deal would get done, but earlier today a German official cast doubt on any agreement at the European summit later this week. The Dow is down 53 points right now, the Nasdaq is down 29 points and the S&P is down 9 points.
Here’s 6 stocks rallying today as the market heads down.
Talbots Inc. (NYSE:TLB) is up 56.41% this morning at $2.45. TLB has traded 3.9 million shares so far today, well above its daily average of 1.7 million shares. Talbots is up today after the company received a $205 million offer from Sycamore Partners. The offer would be for all outstanding shares of Talbots at a price of $3.00 per share. The company has a market cap of 169.31 million.
Martha Stewart Living Omnimedia Inc. (NYSE:MSO) is up 24.68% at $3.89. MSO has traded 1.8 million shares so far today, more than 10 times its daily average. MSO is up today as J.C. Penney buys a 16.6% stake in the company. MSO is up more than $1 a share over the past five trading sessions. The company has a market cap of 222.60 million.
AMR Corporation (NYSE:AMR) is up 28.89% at $0.9074 this morning. AMR is continuing its rally from yesterday and is up $0.50 a share in the past two days. Tom Horton, the new Chief Executive, is reorganizing his management team to better navigate the restructuring of the company. AMR is going to have a big volume day today and has traded 43.2 million shares already this morning. The stock usually trades 21.9 million shares a day on average. The company has a current market cap of 292.75 million.
First Solar, Inc. (NASDAQ:FSLR) is up 10.39% at $50.90 this morning. FSLR has traded 2.5 million shares so far this morning and trades 3.9 million shares a day on average. First Solar is up today following news that Warren Buffett’s MidAmerican Energy Holdings agreed to buy the company’s $2 billion Topaz Solar Farm Project in California. FSLR dropped the past two days as it fell from $49 to $47 before bouncing today. The company has a market cap of 4.42 billion.
Suntech Power Holdings Co. Ltd. (NYSE:STP) is up 6.92% at $2.79 this morning. STP has traded 1.6 million shares so far today and averages 4.4 million shares a day in volume. The company announced earlier this morning they were awarded the 2011 Gigaton prize for exemplary carbon emissions reduction. Suntech Power has a market cap of 512.77 million.
China Medical Technologies (NASDAQ:CMED) is up 12.45% this morning. CMED has traded 924 thousand shares so far today, more than double its daily average. CMED is bouncing back slightly today after the stock took a nose dive yesterday. Yesterday, CMED fell after Glaucus Research Group alleged the company had defrauded its investors. China Medical has a market cap of 76.04 million.
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