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Taking stock: Locals get boost from Fed cut

Gaylord, Pinnacle lead the way on positive trading day

Email | Print By Geert De Lombaerde


03-18-2008 3:46 PM — Middle Tennessee stocks rode the broad market wave higher today, boosted by the Federal Reserve’s latest interest-rate cut. At the end of the trading day, both the S&P 500 and the Nasdaq Composite indexes closed up 4.2 percent, while the Dow Jones Industrial Average rose 3.5 percent.

Only a few local stocks – LifePoint (Ticker: LPNT) and Louisiana-Pacific (Ticker: LPX) most prominent among them – didn’t end the day higher and many others easily topped the indexes’ gains.

Leading the way was Gaylord Entertainment (Ticker: GET), which rose 7.5 percent, and Pinnacle Financial Partners (Ticker: PNFP), which closed up 6.9 percent. Financial stocks as a group ended the day almost 8 percent higher.

Other local stocks beating the averages on the day were:

- Tractor Supply, up 6.0 percent
- Clarcor, up 5.8 percent
- Corrections Corp. of America, up 5.4 percent
- Psychiatric Solutions, up 5.2 percent
- America Service Group, up 4.9 percent
- AmSurg, up 4.8 percent
- BioMimetic Therapeutics, up 4.6 percent

See related articles:

RSS BioMimetic Therapeutics Inc. | RSS AmSurg Corp. | RSS America Service Group Inc. | RSS Psychiatric Solutions Inc. | RSS Corrections Corp. of America | RSS Clarcor Inc. | RSS Tractor Supply Co. | RSS Pinnacle Financial Partners Inc. | RSS Gaylord Entertainment Co. | RSS Louisiana-Pacific Corp. | RSS LifePoint Hospitals Inc. | RSS Market-movers

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