April 24th Gapping Up / Down

Gapping Down

Gapping down on weak earnings/guidance: RMD -13.6% (also downgraded to Neutral at Merrill), UCTT -13.3%, IIVI -9.7%, LXK -6.9%, CSL -5.7%, JNPR -4.3% (also downgraded to Mkt Perform at Piper), BJS -4.0%, PTV -3.8%, COH -3.5%, ELN -3.2%, MICC -3.1%, X -3.0%, TGT -2.7%, LII -2.8%… Other news: EPL -5.7% (announces preliminary results of equity self-tender offer), AVNR -4.7% (further profit-taking after the stock gave up most of yesterday’s gain), COGO -3.7% (prices 5.5 mln share offering at $17.50/share), WEN -2.9% (downgraded to Sell at Merrill).

Gapping Up

Gapping up on strong earnings/guidance: TRCR +19.7%, MSPD +13.3%, CPO +7.8%, TXN +8.7% (up in sympathy NSM +4.7%, EGLT +4.0%, AMAT +1.5%, MRVL +1.3%, CY +0.9%), ALU +5.2%, ALTR +5.1%, ESRX +4.6%, ICLR +4.6%… Small-cap biotech momentum continues: PARS +45.9% (announces Phase 2 data, lowest dose of cannabinor produced statistically significant decrease in pain), VION +13.4% (follow-through momentum; co also announced they are presenting at Fortis conference tomorrow), DNDN +5.2% (Provenge approval likely as politics is a factor; efficacy a question - BofA), ABPI +4.5% (reports the results of CRSFungal Profile), MGRM +3.6% (AP reports FDA panel meets today to review PFE’s HIV drug; PFE plans to offer drug alongside MGRM test)… M&A: SMBI +2.6% (to be acquired by Crestview Partners affiliate for $22.35/share in cash)… Other news: FRPT +13.5% (receives $481 mln order from DoD under existing contract), USAT +5.8% (MasterCard and USAT announce that six of America’s most prominent vending co’s are installing e-Port technology), TASR +4.3% (announces two orders from Penn and Hawaii), FNSR +4.1% (still checking).