Today’s top gaining stocks off of the opening bell include Kensey Nash (NASDAQ: KNSY) and 3PAR Inc. (NYSE: PAR).

Medical device company Kensy Nash announced fourth quarter 2010 results today, which included revenue of $21.9 million which exceeded analyst expectations of revenue in the $21.4 to $21.8 million range.

Yesterday both Crocs Inc, (NASDAQ: CROX) and Atmel (NASDAQ: ATML) released second quarter earnings reports which beat Wall Street analyst consensus estimates and lit up the imagination of investors.

Shares of ATML rose 18% after its earnings release while CROX stock is up over 10% in Friday pre-market trading action.

Let’s get to Atmel first.

Exxon (NYSE: XOM) announced this morning that its second quarter income doubled from a year ago to $7.56 billion thanks to rising oil prices.

Shares of QLogic (NASDAQ: QLGC) and VCA Antech (NASDAQ: WOOF) fell hard today following second quarter earnings releases which disappointed investors.

QLogic fell over 15% after the opening bell Friday following the release of its second quarter earnings release after the close on Thursday.

American Express (NYSE: AXP) and Capital One (NYSE: COF) both released their second quarter earnings results and both beat expectations, but saw little buying excitement in after hours trading Thursday.

American Express announced $1.02 billion in second quarter net income, which is roughly triple the income they generated in the second quarter of 2009.

Americredit (NYSE: ACF), Lance, inc (NASDAQ: LNCE) rallied on news today. Lance closed up 33% percent while Americredit gained 21%.

General Motors announced that it plans to buy Americredit for $3.5 billion in cash for $24.50 per share. With Americredit closing today at 23.91 this gives arbitrage players over a potential 50 cents gain.

Shares of Netflix (NASDAQ: NFLX) and Mellanox Technologies (NASDAQ: MLNX) are falling hard today on negative news.

Netflix announced earnings results for the second quarter which failed to match analyst expectations.

Shares of both UPS Inc. (NYSE: UPS) and AT&T (NYSE: T) are trading higher this morning after both companies announced second quarter earnings results that beat consensus analyst estimates and gave positive outlooks on their future.

Chairman Ben S. Bernanke
Semiannual Monetary Policy Report to the Congress
Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C.
July 21, 2010
Chairman Dodd, Senator Shelby, and members of the Committee, I am pleased to present the Federal Reserve's semiannual Monetary Policy Report to the Congress.

Economic and Financial Developments

Stock market update for Wednesday July 21, 2010, 11:00 AM. DOW and S&P 500 are basically flat for the day. Last night Apple Inc. reported positive earnings that helped gap up the US stock market indices on the open, but initial gains have been sold.

Top gainers for the day include Cliffs Natural Resources (NYSE: CLF), Harley-Davidson (NYSE: HOG), and MGIC Investment Corp. (NYSE: MTG)