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

Joel Anderson |

march madness, march madness bracket, stock bracket, market madnessThe 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. 43.01 0.36 0.84 3,465,739
CCL Carnival Corporation 53.34 0.42 0.79 3,136,056
ALXN Alexion Pharmaceuticals Inc. 132.07 6.07 4.82 2,527,945
FOSL Fossil Group Inc. 33.72 -0.90 -2.60 2,250,998
AA Alcoa Inc. 32.05 0.74 2.36 4,344,295
VLO Valero Energy Corporation 68.00 -0.37 -0.54 5,124,518
FNM.UN:CA First National Mortgage Investment Fund 8.92 -0.01 -0.11 3,100
STX Seagate Technology 39.38 0.15 0.38 4,125,494
LUV Southwest Airlines Company 49.79 0.19 0.38 6,700,895
BTU Peabody Energy Corp n/a n/a n/a 0
BAC Bank of America Corporation 23.09 0.14 0.61 130,590,406
ILMN Illumina Inc. 123.20 -0.28 -0.23 1,387,998
GPS Gap Inc. (The) 25.94 -0.54 -2.04 5,960,634
TTM Tata Motors Ltd Limited 33.98 -0.40 -1.16 738,224
BHI Baker Hughes Incorporated 66.32 0.51 0.77 2,219,982
LULU lululemon athletica inc. 69.30 0.46 0.67 3,596,972
X United States Steel Corp. 36.06 -1.31 -3.51 16,775,691
FSLR First Solar Inc. 33.54 0.37 1.12 2,052,860
HPQ HP Inc. 15.78 -0.38 -2.35 9,865,108
NFLX Netflix Inc. 122.88 -0.36 -0.29 4,700,783
SWKS Skyworks Solutions Inc. 76.93 -2.59 -3.26 4,750,178
YHOO Yahoo! Inc. 41.76 0.35 0.85 6,836,112
ACI Arch Coal Inc. n/a n/a n/a 0
UTHR United Therapeutics Corporation 131.69 -0.18 -0.14 400,878
YOKU Youku Tudou Inc ADR (Sponsored) n/a n/a n/a 0
REGN Regeneron Pharmaceuticals Inc. 372.83 3.68 1.00 1,290,897
DV DeVry Education Group Inc. 31.90 0.90 2.90 1,048,604
RRD R.R. Donnelley & Sons Company 17.39 0.32 1.87 751,131
CIE Cobalt International Energy Inc. COBALT INTERNATIO 1.15 0.00 0.00 6,118,074

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