By
Jennifer Schonberger
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More Articles
August 31, 2009
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The S&P 500 finished last week barely higher for the sixth week out of seven weeks, edging up 0.3% to 1028.93. As of Friday, the S&P 500 was on track to clock its best performance in August since 2000. Since the March 9 low, the index has rocketed 52%, while it remains up 10.4% for the year.
Pops and drops
Here are the five biggest S&P 500 upticks and five biggest S&P 500 drops of last week (measured Friday close to Friday close):
Winners on the week:
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Company
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Percentage Gain
on the Week
|
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American International Group (NYSE: AIG )
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53%
|
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Advanced Micro Devices (NYSE: AMD )
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21%
|
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Eastman Kodak (NYSE: EK )
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19%
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MBIA (NYSE: MBI )
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19%
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Genworth Financial (NYSE: GNW )
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18%
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Source: Forbes.
Losers on the week:
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Company
|
Percentage Loss
on the Week
|
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Goodyear Tire & Rubber (NYSE: GT )
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(10%)
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Denbury Resources
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(8%)
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Southwestern Energy (NYSE: SWN )
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(7%)
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Novell
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(7%)
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Massey Energy
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(7%)
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Source: Forbes.
A look at the biggest winner and biggest loser
AIG was the headline mover last week, rising a whopping 53%. However, the justifications for the stock's major move higher are questionable given the underlying fundamentals. In fact, fellow Fool Morgan Housel explained earlier today that AIG is as speculative as it gets.
Meanwhile, Goodyear Tire dropped last week amid uncertainty about a contract renewal with the United Steelworkers union. Goodyear and union leaders finally reached an agreement over the weekend; however, the union still has to vote on the agreement and uncertainty surrounding details remains.
Interested in the other stocks on this list? Visit The Motley Fool's free CAPS community for further research and opinions on these stocks!
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