Double Eagle Flies While Real America Index Is Grounded

Wyoming’s Double Eagle Petroleum (NASDAQ: DBLE) found love among analysts, leaping 4.6% as C.K. Cooper initiated a buy rating on the stock, and offering up an $11.50 price target — a full 25% above today’s price.

Double Eagle is the best-performing stock on the InvestorPlace.com Real America Index today. Other top performers include:

Kansas’ Sprint-Nextel (NYSE: S) is dialing in a 2.6% gain, as speculation arose that Apple’s iPhone will offer Sprint phone service sometime this year.  The iPhone’s popularity would therefore give Sprint a revenue boost.

Ohio’s Goodyear Tire & Rubber (NYSE: GT) is driving to a 2.5% gain.  There’s no obvious news, other than hedge fund manager David Tepper apparently adding to his position in the company.

The Real America Index is otherwise choppy today, and these three stocks are hitting the skids:

North Carolina’s Bank of America (NYSE: BAC) is down -2.27% on rumors of a federal mortgage foreclosure settlement amongst the major banks for a whopping $80 billion.  Even a tiny portion of that amount would be quite a hit for B of A’s bottom line.

South Carolina’s BMW

(PINK: BAMXF) is stuttering to a +2.33% loss, which is mystifying because all the news is good.  The company has a flashy new scooter out, and China car sales surged 41% in June.  Perhaps some investors just can’t ever be pleased.

Idaho’s Micron Technology (NASDAQ: MU) suffers a loss for a fourth consecutive day, down -2.89%.  The company can’t shake off the big net loss it reported last week.

Looking at the broad perspective, the Real America Index is bouncing just above the zero line, along with the other three major indices.

About the Real America Index

When Americans wonder how healthy the nation’s economy is, where can they turn? At InvestorPlace, we hope we have the answer: a list of 50 publicly traded stocks we call the Real America IndexCheck out the interactive Real America Index map, browse a list of all 50 component stocks, or find out how we created this index.


Article printed from InvestorPlace Media, https://investorplace.com/2011/07/double-eagle-petroleum-nasdaq-dble-sprint-s-mircon-mu/.

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