April 20th Gapping up / down

Gapping Down

Gapping down on weak earnings/guidance: MNT -18.3% (also downgraded to Underperform at Piper), RNOW -16.9% (also multiple downgrades), RHI -10.0% (also downgraded to Sell at Stifel), STMP -9.5% (also downgraded to Neutral at First Albany), ENER -8.2% (guides Q3 revs below consensus, announces organizational restructuring plan), SIRF -6.7%, COF -5.5% (also multiple downgrades), CREE -1.6%… Other news: EVVV -5.5% (prices 8.75 mln share offering at $19/share), HDNG -3.4% (prices 2.2 mln share secondary at $23.50), AVCI -2.1% (continuing weakness after Wednesday’s report & restructuring announcement), HTLD -2.1% (downgraded to Hold at Stifel), DPTR -1.9% (prices 6.2 mln share offering at $20.50/share), TZOO -1.8% (downgraded to Buy at First Albany).

Gapping Up

Gapping up on strong earnings/guidance: SYNL +11.6%, INFA +5.0%, CAT +4.9%, ISRG +3.9%, PKTR +2.5%… M&A: GCO +12.2% (Foot Locker proposes acquisition of GCO for $46/share in cash)… Rebound in Asian stock markets lift China stocks, particularly solar: JADE +6.6%, TSL +5.5%, SOLF +4.0%, JASO +3.6%… Small-cap cancer/biotech stocks continue their news-driven rally: EPCT +81.6% (announces Myriad Genetics presented studies characterizing vascular disruption capabilities of Azixa), AVNR +9.7% (momentum), MGRM +7.7% (tgt raised to $3 at ThinkEquity), AMRN +6.4% (momentum), CBLI +6.2% (Protectan CBLB612 demonstrates efficacy in stimulating proliferation and mobilization of bone marrow stem cells in primate model), POZN +5.9% (initiated with a Buy and $28 tgt at Citi), NSTK +5.5% (Cramer positive on stock), ENZN +5.1% & SKYE +3.5% (ENZN granted full approval for DepoCyt for treatment of Lymphomatous Meningitis; ENZN licensed North American rights from SKYE)… Other news: HRB +8.8% (announces agreement to sell Option One Mortgage), RMKR +5.1% (prices 4.16 mln share offering at $8.50/share), HSOA +4.7% (profiled in BusinessWeek), NAPS +4.6% (Circuit City teams with NAPS to launch new digital music service).