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What's Being Heavily Traded And Why

Wednesday, 14 Mar 2007 | 2:02 PM ET

Hey everyone. A quick note on the Portfolio Challenge trading. The best trades made by contestants seem to be overwhelming triggered by news events and earnings.

Here's a look at the top trades from Tuesday:

WCI Communities gained 14.92% for the contestants that bought it at 18.97 on 3/12 and sold it yesterday at 21.80.Carl Icahn has made a tender offer for the company.

Jo-Ann Stores gained 12.37% for the contestants that bought it at $22.88 and sold it at $25.71, #2 in our leaderboard #2 Jason Kaplan made this trade on earnings positive guidance.

Spirit Finance gained 11.19% for the contestants that bought it at $13.05 and sold it at $14.51 on news they agreed to be acquired by a consortium led by Macquarie Bank.

J2 Global gained 10.24% for the contestants that bought it at $24.7 and sold it at $27.23. The stock was upgraded by Jeffries from buy to hold and boosted its stock target to $31 from $27.

Cadbury Schweppes gained 8.64% for the contestants that bought it at $42.37 and sold it at $46.03 on news that Snapple ex-owner has built a 2.98% stake in the company.

Here's Dylan Ratigan's update on "Power Lunch" including what's happening on "Trading With The Stars."

Million Dollar Update
Updating the leader board in the CNBC Million Dollar Portfolio Challenge, with CNBC's Dylan Ratigan and week one winner, Nancy Beaumont

Jo-Ann Stores was a pick last Friday night on "On The Money" by one of the guests--Jeff Mishlove. Mishlove wrote the book--or at least THE handbook on the Million Dollar Portfolio Challenge. OTM will have a full hour on the contest starting this Friday at 7 pm EST. Please tune-in for all the latest contest news and updates--and more stock picking strategy.

We want to hear from you. Send your comments to millions@cnbc.com. For specific contest comments dealing with issues like technical questions or registration problems, please contact customercare@support.cnbc.com.

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