RSP Permian, Quiksilver, Goldman SachsGroup, Barclays and Bank of America highlighted as Zacks Bull and Bear of the Day

Jun 06, 2014, 09:30 ET from Zacks Investment Research, Inc.

CHICAGO, June 6, 2014 /PRNewswire/ -- Zacks Equity Research highlights RSP Permian (NYSE: RSPP-Free Report) as the Bull of the Day and Quiksilver (NYSE: ZQK-Free Report)  as the Bear of the Day. In addition, Zacks Equity Research provides analysis onGoldman Sachs Group, Inc. (NYSE: GS-Free Report), Barclays PLC (NYSE: BCS-Free Report) and Bank of America Corp. (NYSE: BAC-Free Report).

Here is a synopsis of all five stocks:

Bull of the Day:

Despite a volatile market, some corners of the investing world have held up pretty well. Beyond the health care space, one segment that is well-positioned for further gains seems to be energy, as this sector has easily crushed the broad market as of late, and thanks to broad geopolitical concerns, could be ready to soar in the near future as well.

This trend is especially apparent for companies that focus in on domestic oil and gas plays, as many Western nations could look to friendlier locales in order to get their oil after the Russian debacle. Fortunately, there are a number of small and mid-cap companies to choose from in this space that have begun to tap into more unconventional fields in the U.S. and could see their stock prices soar as they uncover new opportunities in the near future.

One such company that might be a great pick in this space is RSP Permian (NYSE: RSPP-Free Report). This Texas-based firm is zeroed in on the Permian Basin of West Texas and, through its horizontal rig operations, is in the business of acquiring, exploring, and developing unconventional oil and gas reserves in this region.

Bear of the Day:

For many retail and apparel companies, the past couple of months have been very trying times. Several firms have fallen victim to the unseasonable weather or changing consumer tastes and have seen their stock prices tumble as a result.

A great example of this unfortunate trend is undoubtedly Quiksilver (NYSE: ZQK-Free Report). This California-based firm, which is a designer and distributor of apparel and accessories for a variety of outdoor activities, has seen its stock fall by more than 60% so far in 2014, including a nearly 50% loss in the past month alone.

The culprit for this huge drop was ZQK's most recent earnings report in which the firm was expected to post a loss of three cents a share but lost 15 cents a share instead.  This horrendous report, coupled with a poor outlook, sunk the stock and led to the bulk of the huge loss described above.

Additional content:

FINRA Fines Barclays, Goldman, Merrill

Legal woes for the U.S. banking barons seem endless. The latest in the string is a fine of $1 million each slapped on The Goldman Sachs Group, Inc. (NYSE: GS-Free Report), Barclays PLC (NYSE: BCS-Free Report) and Merrill Lynch, Pierce, Fenner & Smith, Inc. of Bank of America Corp. (NYSE: BAC-Free Report). The fine has been levied by the Financial Industrial Regulatory Authority (FINRA) for submitting inaccurate and incomplete "blue sheet" data to various regulatory authorities.

On investigation, the FINRA found that these firms used faulty electronic systems to update their "blue sheet" data and also lacked proper audit system to account for the submissions.

Apart from paying the fine, all three firms will have to conduct a comprehensive review of their systems and certify the same to the FINRA. The firms will have to undertake procedures and corrective measures to avoid the recurrence of similar mistakes in the future.

Goldman, Barclays and BofA have agreed to pay the fine, but did not accept or reject the charges. Separately, the FINRA has also lodged a complaint against Wedbush Securities, Inc. for similar reasons.

The regulatory authority may seek information about a particular security or a transaction, if suspected illegal or ambiguous. This information or the "blue sheet" data enables the regulatory authorities like the FINRA to gauge the presence of illegitimate insider trading or other forms of market abuse. Therefore, the timely submission of accurate data is crucial as it aids controlling market manipulation.

Currently Goldman carries a Zacks Rank #3 (Hold), while both BofA and Barclays hold Zacks Rank #5 (Strong Sell).

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About the Bull and Bear of the Day

Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.

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