April 25th Gapping Up / Down

Gapping Down

Gapping down on weak earnings/guidance: TZOO -18.7%, EXBD -16.9%, GGG -8.9%, HTCH -8.6% (also downgraded to Underweight at JP Morgan), SSTI -7.8% (also downgraded to Sell at WR Hambrecht), DYAX -7.3%, SUNW -6.4%, WU -6.2%, ANAD -6.0%, CKFR -5.9%, WBSN -5.3% (also downgraded to Neutral at Credit Suisse), PDS -5.2%, SANM -5.0% (also downgraded to Sector Perform at CIBC), CYMI -5.0% (also multiple downgrades), WLP -4.7%, RFMD -4.6%, CLZR -4.6%, EEFT -4.4% (also downgraded to Mkt Perform at Piper), EZPW -4.2% (also upgraded to Buy at Roth), ISE -4.1%… Other news: ONT -8.5% (files $60 mln mixed shelf), VNLS -8.0% (to delist from the Nasdaq and to deregister and terminate its US reporting obligations).

Gapping Up

Gapping up on strong earnings/guidance: AMZN +16.3% (also multiple upgrades), WVCM +12.0%, RVBD +11.4% (also multiple upgrades), ZRAN +11.1%, CHRW +8.5% (also upgraded to Buy at Merrill), ORLY +8.1% (also upgraded to Strong Buy at Raymond James), EFII +6.5%, BTJ +6.2%, ILMN +6.0%, LIFC +5.3%, DXPE +5.3%, CAKE +4.5% (also upgraded to Buy at Keybanc), GLW +4.7%, SLAB +4.5%… News-driven rally in small-cap/cancer biotechs continues: BDSI +66.0% (announces positive Phase III clinical trial results for Bema Fentanyl), XNPT +24.4% (reports positive top-line Phase 3 trial results of XP13512 in Restless Legs Syndrome), CVTX +12.2% (upgraded to Buy at First Albany), EPCT +6.9%, GNVC +4.7%… M&A: KTO +20.0% (Jarden confirms agreement to acquire KTO), TFSM +19.8% (WPP among suitors for TFSM - NY Post), ABN +5.0% (RBS-led group makes offer for ABN worth more than $100 bln - WSJ)… Other news: DAR +5.8% (initiated with a Buy at Morgan Joseph), JASO +4.9% (initiated with an Outperform at Raymond James), MAMA +4.7% (licenses copernic desktop search to UOL), AATI +4.2% (upgraded to Buy at Jefferies), CHINA +2.2% (initiated with a Positive at Susquehanna).