Wednesday, March 20, 2013 – Here is today’s summary of U.S. stock market activities – Major Headlines, Losers, Highest Stock Gainers, Top Advancers & Decliners.
Stock Market Headlines
Stocks rose today after the Fed reasserted its policy to maintain a low interest rate environment combined with continual bond purchases (QE).
"Count on the Fed to prop up this market for a bit longer—I think Bernanke along with investor dissatisfaction for other asset classes have been the main reasons for this remarkable resilience in the equity market," said Uri Landesman, president at Platinum Partners.
The Dow rose 55.91 points to end the day at 14,511.73. The Nasdaq was up 25.09 points, while the S&P 500 climbed 0.67% to close the day at 1558.71.
Most Active Stocks – Top Gainers by Percentage (NYSE & NASDAQ)
- Donegal Group stock (DGICB) was the highest gainer across the NYSE and Nasdaq, surging 33.36% to end the day at $28.10. The surge in the stock price was due to news of a tender offer for 962,636 shares of the company’s stock
- Model N (MODN) stock was the next highest gainer. The stock soared 28.90% on its first day of trading as a public company. MODN “opened at $20.30 after pricing 6,740,000 shares of its common stock at $15.50, above the expected $12.50-$14.50 IPO range”
- Shares of Obagi Medical Products stock were the third highest gainers, rising 28.20% to end the day at $19.73.
Most Active Stocks – Top Losers by Percentage (NYSE & NASDAQ)
- Maxwell Technologies (MXWL) was the biggest stock loser across the NYSE and Nasdaq. The stock plunged 20.56% to close the day at $5.91 based on news reports that the firm would delay the release of its 10-K after the resignation of its accounting firm
- Shares of Dex One Corporation stock (DEXO) fell 13.62%, making it the second biggest loser.
- SuperMedia (SPMD) was next in line with its stock dropping 13.60% to be the third top loser across the Nasdaq and NYSE.
MarketConsensus Stock Analysis Desk
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