Financials still dominating the top 10 list as President Obama turned in a $3 trillion-plus budget including $750 billion more for the battered financial sector and the markets digested details of the Treasury's Capital Assistance Program and bank 'stress tests.' First up is General Electric ( GE), shares are trading up as investors take advantage of its low stock price. Even Cramer is a buyer for his Action Alerts Plus Portfolio saying it's a buy below $11 for its industrial unit. You can trade with Cramer every day, email for a free trial now.
Next is Bank of America ( BAC) with shares also rallying today as more news leaks out about CAP and its 'stress test.' Also, the bank is looking to sell First Republic Bank as it tries to increase capital. Citigroup ( C) is also on the list as the Street awaits Washington's next move. The government could raise its stake in the bank to 40% from its current 8%. Wells Fargo ( WFC) is piquing your interest as the stock continues to surge buoyed by Obama's promise of $750 billion more dollars in federal aid to banks. Next is First Third Bancorp ( FITB). Small regional banks are rallying huge today in heavy volume trading as investors bet on the sector's recovery reassured by more government aid. Jim Cramer is not convinced, however, saying on realmoney.com that there is no reason to buy broken bank stocks based on news leaks. To read more of what Cramer is saying email for a special offer now. Insurer, AIG ( AIG), is up. Bailout? How about a buyout? The company is reportedly in talks with the government over a restructuring deal that would break the firm up into three or four government controlled parts.
Now let's jump to auto company, General Motors ( GM). The behemoth reported reporting a $9.6 billion loss in the fourth quarter and a 34% revenue drop. Top executives are reportedly in talks today with Obama's auto task force to plead for an additional $22.5 billion in aid. Alternative Energy company, First Solar ( FSLR) continuing to drop today after the company reported a weak outlook for 2009. Next is Apple ( AAPL). The company opened up a little bit about Steve Jobs health at its shareholder meeting. The big apple said it has offered full disclosure concerning Jobs' health and that he is still deeply involved in the firm's strategy. And last up is Wal-Mart ( WMT). Jim Cramer told me today on Wall Street Confidential to own this stock. Despite a recent price target cut from Morgan Stanley ( MS) to $58, this company is one of the only profitable retailers as its competitors like Target ( TGT) report steep quarterly declines.