Nvidia, Alpha Natural Among S&P 500 Winners

Hopes for more growth from China coupled with a renewed interest in stocks had
the Standard & Poors 500 Index up more than 13 points to over 1,137, a gain of
about 1.23%. The entire tech sector was up on upgrades and takeover speculation.
Advancing stocks outnumbered decliners by about 3-to-1. Bullish sentiment was at
53%, with bearish sentiment at 47%. Leading the market and the tech sector
higher was Nvidia (NASDAQ: NVDA ), gaining more than $1 a share, or more than
8%, to over $13.10. The semiconductor stock was up on an upgrade by Walls Fargo
and takeover rumors about interest from Intel (NASDAQ: INTC ). Up almost 22% for
the year, Nvidia is down more than 10% for the week, 20% for the month and 30%
for the quarter. Alpha Natural Resources (NYSE: ANR ) was up about $2, around
7.5%, to over $30.50 in early buying and selling. A share repurchase plan of
$600 million was announced along with the filing of its 8K this morning. Wall
Street liked both. For the week, Alpha Natural Resources is down more than 16%.
For the month and quarter, it is off about 40%. Up about $6, around 7%, to over
$95 was First Solar (NASDAQ: FSLR ). A Goldman Sachs report forecast there would
be a rebound in the industry for equipment makers welcome news, as First Solar
is down more than 17% for the week, more than 29% for the month and more than
29% for the quarter. Heinz (NYSE: HNZ ) was down more than $1.80, around 3.5%,
to $50.20 on disappointing earnings. Profits fell by 6%, which did not please
investors. Heinz is down almost 4% for the month. It has a relative strength
index rating of 40, with 30 viewed as the floor for when a stock is considered
to be oversold. Walgreen (NYSE: WAG ) was off about 20 cents, or 0.6%, to under
$33.80 a share. Down more than 4% for the week, Walgreen is down more than 12%
for the month and more than 20% for the quarter. It is up almost 25% for the
year, however. Walgreen has an RSI rating of 35. Newmont Mining (NYSE: NEM )
lost about 80 cents per share in early action to go under $61.60, shedding
around 1.3%. More and more talk of a gold bubble is hurting industry stocks this
morning. For the week, Newmont is up more than 6% and up more than 16% for the
quarter. Jonathan Yates does not own any of the stocks mentioned in this
article.