Below are the top five performing stocks in the S&P 500 INDEX,RTH. These companies should be watched for additional outperformance to the upside.
MEMC Electronic Materials (NYSE:WFR) lead the charge up 6.44% today, well above the S&P 500's return of 1.06% thus far. Just behind are shares of Sears Holdings (NASDAQ:SHLD), which is up 6.34%.
Rounding out the list of outperformers are shares of BMC Software (NYSE:BMC) and Genworth Financial (NYSE:GNW), which are up 4.12% and 4.07%, respectively. Finally we have Tellabs (NASDAQ: TLAB) up a respectable 3.98% on the day.
MEMC Electronic Materials, Inc. produces silicon wafers. The Company's products are used in computers, telecommunications equipment, automobiles, consumer electronics products, industrial automation and control systems, and analytical and defense systems. MEMC operates manufacturing facilities in Italy, Japan, Malaysia, South Korea, Taiwan, and the United States.
Potential upside of 8.3% exists for MEMC Electronic Materials, based on a current level of $5.17 and analysts' average consensus price target of $5.59. The stock should discover initial support at its 50-day moving average (MA) of $4.15 and subsequent support at its 200-day MA of $2.85.