April 27th Gapping up / down

Gapping Down

Gapping down on weak earnings/guidance: OCR -15.3%, BECN -15.2% (also downgraded to Neutral at Baird), GLGC -10.9%, SPRT -10.5%, BLG -10.5%, WFR -8.4% (downgraded to Neutral at Credit Suisse), VPRT -8.1%, PSYS -8.1%, BRCM -6.5% (also downgraded to Neutral at UBS), YRCW -6.1%, ACTU -6.0%, BOOM -5.7%, FALC -5.4%, IDTI -5.1%, TRID -4.3%, oPWV -4.0%, RACK -3.8%… Other news: MDCO -11.6% (discloses that US Patent Office denied extended patent for Angiomax), AVID -10.8% (also downgraded to Mkt Perform at Piper), CF -5.9% (names new CFO), MLNM -5.1% (downgraded to Underweight at Morgan Stanley).

Gapping Up

Gapping up on strong earnings/guidance: BIDU +27.6% (also upgraded to Outperform at RBC), VSEA +14.0%, SWIR +13.0%, SIMO +9.4%, NETL +9.3%, FLIR +8.9%, INSP +8.3% (also reaches agreement with Sandell Asset Mgmt, announces $6.30/share special dividend), SNCR +7.2%, SPF +6.4%, AXL +5.4%, CMI +5.2%, MEE +4.9%, MSFT +4.8% also upgraded to Sector Perform at CIBC)… BIDU sympathy plays trading up: GMKT +4.6%, SOHU +3.8%, SINA +3.2%, NTES +3.1%, SNDA +1.6%, LONG +1.0%, FMCN +0.7%… M&A: INTL +5.7% (to be acquired by Mitel for $25.60/share)… Other news: ARQL +14.2% (announces exclusive license agreement with Kyowa Hakko Kogyo to develop and commercialize ARQ 197), SNTO +10.6% (selected to provide right channeling support to Amp’d Mobile), DSCO +6.9% (upgraded to Buy at Jefferies), CTICD +5.5% (announces it will report Q4 results on May 2), IPCS +4.7% (declares $11/share special cash dividend).