Since July 22, the market is down a little over 10%. That's over a percent a day. When there's market volatility like this, I go trolling for bargains -- babies being thrown out with the bathwater.
While I was trolling, though, I noticed a little fun fact I want to share. There are 3,531 stocks trading on major U.S. exchanges with market caps above $200 million. Of those, 1,992, or 56%, of them have fallen more than 10% in this market slump.
Guess how many have gone up more than 10%? If you paid attention to the headline, you know that it's 15 (trailers ruin everything these days).
Here they are (from biggest to lowest gain):
Market Cap (in millions)
Price Change from July 22
|Emdeon (NYSE: EM )||$1,672||67.2||37.7%|
|S1 (Nasdaq: SONE )||$501||NM||31.8%|
|Stamps.com (Nasdaq: STMP )||$244||23.7||28.2%|
|Multi-Color (Nasdaq: LABL )||$355||15.9||18.7%|
|Sagent Pharmaceuticals (Nasdaq: SGNT )||$769||NM||17.1%|
|Global Traffic Network (Nasdaq: GNET )||$266||49.7||15.1%|
|Hudson Valley Holding (NYSE: HVB )||$378||17.0||14.7%|
|Sturm, Ruger & Co. (NYSE: RGR )||$514||17.4||14.4%|
|Rubicon Minerals (AMEX: RBY )||$889||NM||14.3%|
|Xueda Education Group (NYSE: XUE )||$599||39.3||14%|
|Telmex (NYSE: TMX )||$15,939||13.4||12.7%|
|Konami (NYSE: KNM )||$4,031||22.6||11.8%|
|Green Mountain Coffee Roasters (Nasdaq: GMCR )||$15,730||107.3||10.8%|
|Mitel Networks (Nasdaq: MITL )||$250||3.1||10.8%|
|Lexmark International (NYSE: LXK )||$2,600||8.0||10.3%|
Source: Capital IQ, a division of Standard & Poor's.
Why did these stocks buck the trend? Much of it was buying activity.
Looking at a few, the top gainer, Emdeon, is being taken private by Blackstone. Telmex is moving up as AmericaMovil is in the process of buying out the 40% it doesn't already own. S1 has been a reluctant buyout target. Agnico-Eagle Mines took a 9.2% stake in Rubicon.
But for some, it was about outperforming expectations.
Stamps.com smashed earnings estimates by almost 2:1. Multi-Color and Lexmark beat estimates as well. As did Green Mountain Coffee Roasters.
Any lessons as we peruse the list?
It's hard to predict mergers and acquisition activity. Instead, the stocks that have outperformed remind us to look for companies whose operations are likely to best expectations. As for these particular 15 stocks that have performed well recently, it's a higher hurdle for success than it used to be. Watch out for buying high and selling low, but also be on the lookout for any signs that these companies can continue their winning ways.
In any case, we're only talking nine market sessions here.
Editor’s note: A previous version of this article erroneously tickered Rubicon Minerals with Rubicon Technology’s ticker. The Fool regrets the error.