Blain’s Nightly Stock Picks, April 30 2008
Today the FED cut interest rates by a quarter point which could very well be the final cut. After the 2:15 PM announcement the market traded down on higher volume to finish the day in the red.
On the tech front Google (GOOG) ran up 3% on heavy institutional volume. Also, Netlogic Microsystems (NETL) gapped up for a nearly $4, 14% gain closing at $32.79 after the company topped Q1 estimates with ease.
In the international spotlight Brazil was the hot topic today as the Standard & Poor’s announced it was raising the country’s foreign bond rating. This puts Brazil’s bonds on the same level as countries like India and Morocco, and should help attract additional foreign investing into the country. GFA, CBD, UBB, ITU, and BBD all had great days today as a result.
And now for the stock picks…
NASDAQ
S&P 500 (SPY)
First Solar (FSLR)
Mechel Steel Group (MTL)
Steel Dynamics (STLD)
Arcelor Mittal (MT)
Monsanto (MON)
Google (GOOG)
Dry Ships (DRYS)
