Market Madness Day Two: First Solar and Bank of America Advance to the Next Round

Joel Anderson  |

The madness rolls on! Yesterday saw BOTH number one seeds fall in our Blue Chip Bracket and Cinderella Bracket, and the Cinderella Bracket had all three of the top three seeds drop their first-round match up. Now, the "games" keep rolling along for Market Madness with the Mid Major Bracket and the Road to Redemption Bracket both play their first rounds today.

Mid Majors Bracket

(1) Cobalt International Energy (CIE) +6.93 percent over (16) The Gap (GPS) -0.98 percent

(15) Valero Energy (VLO) -0.11 percent over (2) Regeneron Pharmaceuticals (REGN) -0.36 percent

(14) Alexion Pharmaceuticals (ALXN) -0.57 percent over (3) RSC Holdings (RRR) -1.05 percent

(13) Bank of America (BAC) +6.06 percent over (4) Seagate Technology (STX) +0.49 percent

(5) Cheniere Energy (LNG) +1.34 percent over (12) Netflix (NFLX) -0.19 percent

(6) Illumina (ILMN) -0.08 percent over (11) Fossil (FOSL) -1.59 percent

(7) Skyworks Solutions (SWKS) -0.85 percent over (10) Lululemon Athletica (LULU) -2.96 percent

(9) Tata Motors (TTM) -0.31 percent over (8) Youku (YOKU) -4.38 percent

Finally! A one seed wins its first round match-up! Cobalt Energy performed like it earned a top seed (not that it really did, but still). Cobalt's nearly 7 percent gain resulted helped it trounce the 16th seeded khaki merchant The Gap. However, the Mid Major Bracket wasn't devoid of upsets as the two, three, and four seed all went down in the first round. Bank of America, having recently passed the Fed's stress tests, has the makings of a Cinderella team ready for a string of upsets.

Road to Redemption Bracket

(16) R.R. Donnelley & Sons (RRD) +2.10 percent over (1) Hewlett-Packard (HPQ) +0.37 percent

(2) Baker Hughes (BHI) 2.86 percent over (15) United Therapeutics (UTHR) +0.78 percent

(3) Alcoa (AA) +1.84 over (14) DeVry (DV) +1.54 percent

(4) Carnival (CCL) -0.22 percent over (13) Southwest Airlines (LUV) -1.66 percent

(12) Peabody Energy (BTU) 4.86 percent over (5) Yahoo (YHOO) +1.98 percent

(6) First Solar (FSLR) +4.45 percent over (11) US Steel (X) +0.34 percent

(7) Alpha Natural Resources (ANR) +4.08 percent over (10) Inergy (NRGY) +0.69 percent

(8) Arch Coal (ACI) +0.49 percent over (9) NII Holdings (NII) -3.00 percent

And, once again, the bracket's top seed doesn't make it out of the first round. So, all told, three of the four one seeds go down in their first match up. However, RR Donnelley & Sons taking down Hewlett-Packard and Peabody Energy beating Yahoo were the only two upsets in the Road to Redemption Bracket. After the first three brackets offered up a series of major upsets, this bracket kept things simple.

Day Two Wrap Up

So the sole surviving one seed is Cobalt International as the bracket chugs along. Tune in on Monday as the Blue Chip Bracket and the Cinderella Bracket enter the second round. By the end of Tuesday, the Sweet Sixteen will be set!

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
LNG Cheniere Energy Inc. 65.20 -0.16 -0.24 1,318,680
CCL Carnival Corporation 58.82 0.55 0.94 2,234,599 Trade
ALXN Alexion Pharmaceuticals Inc. 129.73 2.18 1.71 1,221,577 Trade
FOSL Fossil Group Inc. 15.95 0.80 5.28 2,652,422 Trade
AA Alcoa Corporation 30.17 0.59 1.99 3,197,583 Trade
VLO Valero Energy Corporation 85.32 0.84 0.99 3,158,088 Trade
STX Seagate Technology PLC 47.01 1.90 4.21 3,043,843 Trade
LUV Southwest Airlines Company 53.62 -0.69 -1.27 4,569,626 Trade
BTU Peabody Energy Corporation 31.01 1.21 4.06 479,396 Trade
BAC Bank of America Corporation 29.08 -0.21 -0.72 47,887,776 Trade
ILMN Illumina Inc. 301.06 4.18 1.41 545,226 Trade
GPS Gap Inc. (The) 24.76 -0.02 -0.08 4,505,677 Trade
TTM Tata Motors Ltd Limited 12.39 0.59 5.00 2,156,421 Trade
LULU lululemon athletica inc. 149.26 1.15 0.78 966,753 Trade
X United States Steel Corporation 24.10 -0.02 -0.08 8,442,728 Trade
FSLR First Solar Inc. 53.73 1.78 3.43 4,112,376 Trade
HPQ HP Inc. 23.74 0.35 1.50 6,729,697 Trade
NFLX Netflix Inc. 363.02 6.05 1.69 7,088,214 Trade
SWKS Skyworks Solutions Inc. 82.42 0.66 0.81 2,320,234 Trade
YHOO Yahoo! Inc. n/a n/a n/a 0 Trade
ACI Arch Coal Inc n/a n/a n/a 0 Trade
UTHR United Therapeutics Corporation 118.30 1.28 1.09 242,710 Trade
YOKU Youku Tudou Inc ADR (Sponsored) n/a n/a n/a 0 Trade
REGN Regeneron Pharmaceuticals Inc. 422.52 3.90 0.93 386,603 Trade
DV ATGE Brown Forman Inc Class B n/a n/a n/a 0
RRD R.R. Donnelley & Sons Company 6.18 0.13 2.15 529,434 Trade
CIE Cobalt International Energy Inc. COBALT INTERNATIO n/a n/a n/a n/a

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