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Market Applauds Recent Results of 3 Financial Stocks
By: Eldon Mast   Friday, May 15, 2009 9:19 AM

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Three press releases from Comtex News Network drove three large financial stocks higher on Thursday.

All three stocks benefited from news highlighting their recent significant price gains. Betting that their recent performance is indicative of future results pushed their valuations even higher on Thursday. All three finished in the top 4 of major market price gainers.

Comtex which earlier in the year had issued an automated buy recommendation on Bank of Ireland (ADR), reported that the bank's stock has returned 197.6% as of Wednesday's opening price of 6.16. ADR closed up over 20% for the day Thursday.

Comtex News called an uptrend for Genworth Financial Inc (GNW) on 3/19/2009 at $1.98. Since then, Genworth Financial has returned 153% as of its recent price of $5.01. GNW was also up 20% for the day and another 2% after hours.

And finally Comtex published a buy call on Hartford Financial (HIG) on 3/13/2009 at $6.76. Since then, Hartford Financial has returned 123.8% as of its recent price of $15.13. HIG ran up close to 17% on Thursday and another 10% after hours.

And these financial stocks were not alone. Intel(INTC) which accounts for close to 80% of the computer microprocessor market, was up close to 3% for the day. Intel continues to underscore this week that Q1 represented the bottom for this business cycle and further stated mid week that Q2 sales appear better than projected.

The technology laden Nasdaq was up another 1.5% for the day and trading on foreign exchanges and future's indicators point to another strong rally to close the week.

It is amazing how this rebound mirrors that of the 1975 market.


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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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