Updated from 8:06 a.m. ESTAs readers know, I like to look for stocks that have potential catalysts ahead of them. The catalysts I look for vary from week to week, but typically they include earnings, irrational selloffs, regulatory decisions, misinterpretation of company-specific news and other market-independent events that could push a stock higher. Everyone knows we are in a brutal bear market, but even in bear markets you get short-term snapback rallies. Each week at Stockpickr we search for stocks that could snap back in the coming days. Let's look back and see how last week's ideas fared. Flowserve ( FLS - Get Report) finished the week up 5% after gapping higher by as much as 10% on Tuesday. Fourth-quarter 2008 profit grew 19.3% on strong order fulfillments and aftermarket demand in the oil and gas, chemical and power markets. For the quarter, Flowserve said it earned $114.4 million, or $2.03 per share, up from $95.9 million, or $1.7 per share, during the same period last year. Sales rose 5.4% to $1.2 billion, from $1.1 billion a year ago. Ternium ( TX - Get Report) finished the week down 10% after reporting its first loss of $109 million dollars for the fourth-quarter 2008 in nearly seven years. Here are a few ideas, including ATP Oil & Gas ( ATPG), that appear in this week's Rocket Stocks portfolio. To read more, visit Stockpickr.com.
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