These Once-Dead Stocks Sent the Dow Up Again: Hewlett-Packard Company (HPQ), Bank of America Corp (BAC), First Solar, Inc. (FSLR)

Today’s new record close for the Dow Jones Industrials may not have come with balloons, confetti, and fanfare, but it was another gain for the stock market, nevertheless. Despite skepticism among many professional investors that the four-year-old bull market is overextended, the Dow managed to finish up about 43 points, to close just shy of 14,300. Broader markets were mixed, with the S&P up — but the Nasdaq down.

Interestingly, it was two stocks that investors had once almost left for dead that ended up scoring the top percentage gains among the Dow 30. As recently as late 2011, Bank of America Corp (NYSE:BAC) traded near the $5 mark on fears that its restructuring efforts wouldn’t prove sufficient to recapitalize the bank without further massive share dilution. Yet, the stock has more than doubled since then, and finished up another 3% today, as investors look forward to the Federal Reserve’s stress tests to see if Bank of America Corp (NYSE:BAC) can once again pay a respectable dividend to shareholders.

Hewlett-Packard Company (NYSE:HPQ)Meanwhile, Hewlett-Packard Company (NYSE:HPQ) also posted a nearly 3% jump. For the beleaguered tech giant, the worst losses came not during the market meltdown in 2008 and 2009, but during 2012, when strategic miscues and a poor environment for PC-related stocks knocked the company for a loop. Shares have regained some of their losses since late 2012, as CEO Meg Whitman’s strategies appear to be crystalizing. But the company still has a long way to go before Hewlett-Packard Company (NYSE:HPQ) can declare victory.

Outside the Dow, Trulia Inc (NYSE:TRLA) gained almost 10% as it created a partnership with a prominent regional multiple listing service. The deal with Midwest Real Estate Data should help Trulia show its value to real-estate agents by coordinating various tools to assist in sales and marketing. The timing of the announcement was also fortuitous, as it erased declines from yesterday, after Trulia said it would make a secondary stock offering.

Finally, First Solar, Inc. (NASDAQ:FSLR) climbed 3% after getting an analyst upgrade. Still, the bounce is insignificant compared to the stock’s plunge last week following First Solar’s poor earnings report. Going forward, First Solar, Inc. (NASDAQ:FSLR) needs to show improved results this quarter and in the future in order to justify investor confidence in the company’s long-term prospects.

The article These Once-Dead Stocks Sent the Dow Up Again originally appeared on Fool.com and is written by Dan Caplinger.

Fool contributor Dan Caplinger owns warrants on Bank of America. You can follow him on Twitter @DanCaplinger. The Motley Fool owns shares of Bank of America.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!