Top Gainers In Early Trading for 11/28: CMC, SMBL, GNW, ING, BAC, NOK
The stock market continues to rally today on better than expected Black Friday numbers and hopes of a solution in Europe. The major indexes are all up well over 2% and the Nasdaq and S&P are up over 3%. The Dow is up 315 points, the Nasdaq is up 85 points and the S&P is up 36 points. Stocks posting decent gains in early trading include Commercial Metals company (NYSE:CMC), Smart Balance, Inc. (NASDAQ:SMBL), Genworth Financial Inc. (NYSE:GNW), ING Group (NYSE:ING), Bank of America Corp. (NYSE:BAC) and Nokia Corporation (NYSE:NOK)
Commercial Metals Company (NYSE:CMC) is up 23.14% in early trading at $14.10. CMC is moving today after Carl Icahn offered the buy the company for $1.73 billion that would combine Commercial Metals with Ichan’s PSC Metals Inc. The $1.73 billion price translates to $15 a share and is a premium of 31% of CMC’s close on Friday. CMC has traded 5 million shares so far today, nearly 5 times its daily average volume. The company has a current market cap of 1.62 billion.
Smart Balance, Inc. (NASDAQ:SMBL) is up 14.55% at $5.51 in early trading today. SMBL has traded 308 thousand shares so far today and trades 456 thousand shares a day on average. SMBL had been trading between $4.80 and $5 before jumping over $5 today as it follows the overall market rally. The company has a current market cap of 325 million.
Genworth Financial, Inc. (NYSE:GNW) is up 12.8% at $6.08 in early trading. GNW has traded 4.2 million shares so far today and trades 11.47 million shares on average. Last week, GNW dipped more than $0.50 a share and closed at $5.39 on Friday. GNW jumped today after Citigroup upgraded the insurer for the second time this month. The company has a current market cap of 3.03 billion.
ING Group (NYSE:ING) is up 11.34% at $6.97 in early trading today. ING has traded 1.4 million shares so far today and trades 5.9 million shares on average daily. ING has made back all the ground it lost last week when the stock as well as the general market had a steep sell off. The company has a current market cap of 26.49 billion.
Bank of America Corp. (NYSE:BAC) is up 4.35% in early trading at $5.40. BAC has traded 75.9 million shares so far today and trades 270 million shares a day on average. BAC is following the market rally up today as investors hope for a European solution to their debt crisis soon. The company has a current market cap of 54.84 billion.
Nokia Corporation (NYSE:NOK) is up 6.81% today at $5.65. NOK has traded 12.6 million shares so far today and trades on average 28.4 million shares a day. NOK gaped up this morning at $5.69 and since then has sold off slightly. The company has a current market cap of 20.96 billion.
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