The Dow Jones Industrial Average has bounced after Jamie Dimon and Societe Generale have defended the system and after Brian Moynihan defended his bank.  The DJIA is still down 210 points, but we have just gone back above the 11,000 DJIA mark.  We wanted to identify several key winners on a big day down.

American Water Works Company, Inc. (NYSE: AWK) has no news, but after its drop went to under 10% investors have decided that the greatest water stock in America should be close to immune to Euro-woes.  Shares are up 1.9% at $28.14.

Avnet Inc. (NYSE: AVT), the memory and storage distribution supermarket, is up after beating earnings and after announcing a $500 million share buyback even if guidance seems a tad soft. Shares are up 6.7% at $27.22.

Clearwire Corporation (NASDAQ: CLWR) is still an at-risk company, but naming a new CEO gives investors hope of a turnaround.  Erik Prusch was Clearwire’s chief financial officer from mid-2009 to March 2011

Cree, Inc. (NASDAQ: CREE) is bouncing big after earnings, even though guidance looked a bit light last night.  Canaccord Genuity raised the rating to BUY on value with a $39 target.  Shares are up 18% at $34.91 in mid-afternoon.

Demand Media Inc. (NYSE: DMD) is up over 5% at $9.46 after securing its Google pact.  Even though terms are not disclosed, this kills the fears that Google will treat it as a content farm.

Enterprise Products Partners LP (NYSE: EPD) is one of the largest MLP investment vehicles out there with a $36 billion market cap.  The new no-rate environment is forcing investors to look at yield, even if it means a ‘return of capital’ in many cases.  Enterprise is up 5% at $42.85 and its implied ‘yield-equivalent’ is about 5.6% if the last payout remains static.

First Solar, Inc. (NASDAQ: FSLR) owes Jefferies a free round of solar panels after Jefferies raised the rating to BUY with a $132 price target based upon cheap valuations.  First Solar shares are up 5.7% at $105.45 on the day.

Hillenbrand, Inc. (NYSE: HI) is up despite having just missed earnings estimates on Monday.  Funeral products, caskets, and other death products must be getting new clients as investors grow worried.  Shares are up 4.8% at $19.34.

Polo Ralph Lauren Corp. (NYSE: RL) is up 7% at $128.37 after beating earnings expectations and even raising its guidance.

JON C. OGG

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