After a tumultuous week that saw a near 1,000-point drop in the Dow, Wall Street finally found its footing. The Dow closed 248 points in the green on Friday, despite a discouraging October jobs report, which showed the highest unemployment rate since 1994.
Here are the stocks that lead the bulls today, as well as those that continued to suffer the fallout of a faltering economy.
Winners
AES Corp (AES)
The power company weighed in with higher third-quarter earnings, posting a 39% rise in profit over the year-ago quarter. The company credited gains in the quarter to increased prices and higher demand. The news sent shares of the company soaring $1.91 or 28.9% to $8.52.
CB Richard Ellis Group Inc. (CBG)
Shares of CB Richard Ellis Group, rose more than 25%, or $1.43, to $7.10 a share on Friday, after the commercial real estate broker reported third-quarter earnings. The weak global economy has impacted the company’s profits this year, but third quarter earnings beat analyst expectations, moving the stock higher.
Fluor Corp. (FLR)
Fluor Corp. posted its highest gains in seven years after the company released strong third-quarter earnings on Thursday. Profit in the quarter increased 95% to $183.1 million from the same period a year ago. The news sent the engineering firm’s stock surging nearly 21% to $41.03, a gain of $7.02, on Friday.
Nvidia Corp. (NVDA)
Despite reporting a 74% drop in profit in its third-quarter earnings, chip maker Nvidia saw its stock gain 14% Friday. The company issued a better-than-expected sales guidance, which sent shares of the company $1.10 higher to $8.72.
Alcoa (AA)
Shares of Alcoa rallied 9% on Friday as traders speculated a possible Federal Reserve rate cut, and after reports surfaced naming the aluminum producer the sole supplier of aluminum-lithium alloy for NASA’s Ares 1 moon rocket. The stock rose 93 cents to close at $11.19.
Losers
Genworth Financial (GNW)
Shares of the insurance company plummeted 43% after the company’s third-quarter earnings failed to impress. Genworth posted a loss of $258 million, suspended its dividend for the quarter and is considering raising cash and selling assets. The stock closed at $2.67 on Friday, a loss of $2.03.
Yahoo! (YHOO)
The tech company saw its stock drop more than 12% Friday after Microsoft Chief Executive Steve Ballmer said Microsoft was not interested in acquiring Yahoo. Yahoo closed at $12.20, down $1.76.
General Motors Corp. (GM)
The automaker’s stock fell 9% after it announced a third-quarter loss of $2.5 billion and warned that it may run out of cash in 2009. Shares of GM fell 44 cents to close at $4.36.
E-Trade Financial Corp. (ETFC)
The online brokerage applied for $800 million in funding from the Treasury’s TARP Capital Purchase Program. The stock rebounded some from its earlier losses but still ended the day down nearly 9%, and closed at $3.37.
Sprint Nextel Corp. (S)
The wireless provider reported a $326 million loss in the third quarter, and saw 1.3 million of its subscribers move to competitors during the period. The news moved Sprint Nextel’s stock to the downside; it closed at $3.37, a loss of 8% or 31 cents on the day.
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