Now this is more like it.
The Dow Jones Industrial Average's amazing rebound Monday — more than doubling its previous record one-day point gain — reverberated into a huge rally by Tampa Bay area public companies.
Many of the area's largest companies posted double-digit jumps, though the surge couldn't quite erase the market carnage of the past three weeks. Of course, as with any market rally, not everyone wound up happy.
RAYMOND JAMES: +23%
His brokers are still busy handling the concerns of investors across the country, but Tom James, chairman of the St. Petersburg financial services company, can breathe a sigh of relief. Raymond James stock closed at $26.10, recovering from the tumultuous end of last week.
JABIL CIRCUIT: +22%
The global electronics manufacturer based in St. Petersburg has been on a steady decline since a recent peak above $18 a share in mid August. Despite the rise, it's not even back to being an $8 stock yet.
GERDAU AMERISTEEL: +19%
The surge boosted the Tampa steelmaker to close at $6.67, just about negating its big loss on Friday.
TECO ENERGY: +16%
Both investors and customers of the Tampa utility had something to cheer. As its stock rose almost $2 a share, TECO told regulators that it wouldn't have to seek as hefty a rate increase as envisioned because of a drop in fuel prices.
WELLCARE HEALTH PLANS: +12%
The Tampa-based managed-care company, which closed at $27, has had a year of wild swings as it fluctuated between a federal investigation into its operation and buyout rumors.
WALTER INDUSTRIES: +11%
Finally a day to smile. After a prolonged slide from its late July high over $100, the Tampa company's stock rose almost $4 to close at $38.77. Maybe it helped that Motley Fool on Monday mentioned Walter as a coal stock investors may want to consider.
It was only a 30-cent slide, but it was enough to make the St. Petersburg-based home shopping network the biggest loser, percentagewise, in the bay area.
The rising tide couldn't lift the Clearwater-based boat seller. An analyst said Monday that MarineMax and boatmaker Brunswick Corp. are in danger of violating debt covenants as sales in the industry sink. MarineMax closed at $4.80.