The Russell 1,000 is down 0.91% since the close prior to the last FOMC meeting on October 31st, and 46% of stocks in the index are up since then. Below we highlight the 25 stocks in the index that have performed the best since then and the 25 that have performed the worst. As shown below, Wellcare Health (WCG) is up the most at 105% since the last Fed meeting, gaining back quite a bit of what it lost after the legal probe of the company was announced. WCG is followed by Tenet Healthcare (THC) (+68.56%), First Solar (FSLR) (66.94%), MGIC INVT Corp. (MTG) (56.44%) and Mastercard Inc. A (MA) (37.10%). While investors were hoping that the rate cut on the 31st would help the beleaguered Financials and Consumer Discretionary sectors, just 2 Financials are on the best performing list and no Consumer Discretionary stocks are represented.
Financials and Consumer Discretionary stocks are well represented on the worst performing list however. As shown below, ETrade (ETFC) is down the most at -59.78%, followed by First Marblehead (FMD), Verifone Holding (PAY), Indymac Bancorp (IMB), Leap Wireless (LEAP) and Crocs, Inc. (CROX). Other notables on the list are Fannie Mae (FNM), Freddie Mac (FRE), Advanced Micro Devices (AMD), Washington Mutual (WM) and Wynn Resorts (WYNN). Let's hope these names can perform better from now until the January 30th meeting.