Rising more than 3 points to about 1312, the Standard & Poor’s 500 Index was up around 0.30%. For the year to date, the S&P is up more than 4.3%.
A strong earnings report from Google (NASDAQ:GOOG) had the search engine giant up more than 12% to over $590, a gain of over $63 a share. Google is trading more than 10% above both its 20 and 50 day moving averages. With a relative strength index of more than 74, Google is over the 70 benchmark for a stock to be considered as overbought.
Oil stocks were also among the top gainers with Range Resources Corporation gaining almost 10%, over $5.30 a share, to sell for more than $60.40. A report this morning listed Range Resources as a takeover target. It has a relative strength index of 68.92 and is trading more than 25% above its 20 day moving average; and more than 11% higher than its 50 and 200 day moving averages.
Cabot Oil and Gas Corporation (NYSE:COG) was up more than 8% to about $67.74, picking up more than $5.10 a share in the am session. At more than 50% higher than its 200 day moving average, Cabot is gushering higher along with other energy stocks on BHP Billiton (NYSE: BHP) and its buy of Petrohawk Energy Corporation (NYSE:HK) at a 63% premium.
Falling by more than 10% was FLIR Systems (NASDAQ: FLIR), as the industrial goods and aerospace company lost more than $3.40 a share, a drop of more than 10.60% to under $28.70 on a downgrade by Morgan Keegan. FLIR Systems is trading below its 20, 50 and 200 day moving averages. With a relative strength index rating of 21.73, it is far below the 30 mark for when a stock is thought to be oversold.
Compuware Corporation (NASDAQ: CPWR) was down about 2.5% to around $9.40, shedding more than 23 cents. The high tech company is trading double digits below its 20, 50 and 200 day moving averages. Its relative strength index rating is 39.71.
Down by almost 2% was Dean Foods (NYSE: DF), trading under $11.50, a loss of more than 20 cents a share. Consumer sentiment is at its lowest since March 2009, according to the most recent University of Michigan survey. Dean Foods is trading below its 20 and 50 day moving averages and has a relative strength index of just 28.63. It is down almost 8.5% for the month.
Jonathan Yates does not own any of the stocks mentioned in this article.
