April 19th Gapping up/down

Gapping Down

Gapping down on weak earnings/guidance: AVCI -28.4% (also declares $2 special dividend, announces transition out of core router development), SPSN -19.5% (also downgraded to Neutral at Cathay), PWER -15.0%, LOGI -9.1%, WCC -8.0%, OXPS -6.9%, MOGN -6.4%, CPWR -5.6% (also downgraded to Mkt Perform at Piper), FCS -5.4%, ETFC -5.3%, UNH -4.7%, NVLS -4.3%… China stocks down on overnight weakness in Asian markets: ACH -5.5%, XING -5.3%, TSL -4.6% & JASO -3.4% & SOLF -2.0% (also continued profit-taking after huge solar sector run), LFC -4.2%, CHL -2.9%, etc… Other news: WEL -15.1% (prices 26 mln share common stock offering at $2.10/share), NG -6.0% (announces 12.5 mln share offering pursuant to preliminary prospectus supplement), SMSI -5.0% (downgraded to Hold at Jefferies).

Gapping Up

Gapping up on strong earnings/guidance: ASPV +11.9%, BAX +4.0%, ASD +3.7%, SGP +3.3%, STJ +3.2%, TER +2.7%, NOK +2.7%, BTU +2.6% (also announces strategic review of coal operations in West Virginia & Kentucky), VIVO +2.6%, EBAY +2.0%… Small-cap cancer/biotech stocks continue their news-driven rally: AVNR +12.1% (follow-through momentum), MITI +4.7% (higher following second press release on MITI-Medimmune BiTE molecule news), GERN +2.9% (studies confirm proof-of-principle for it’s human embryonic stem cell-derived hepatocytes), SUPG +2.8% (data show Tyrosine Kinase Inhibitor suppresses critical double-stranded DNA repair protein), IDEV +1.7% (anounces sbmission of supplemental NDA to reintroduce Valstar to treat bladder cancer)… Other news: IVAN +7.8% (signs agreement with Inpex to jointly pursue opportunity to develop heavy oil field in Iraq), LEAP +3.6% (tgt raised to $96 at Jefferies), DSL +2.9% (Cramer says DSL is best risk/reward he’s talked about in a long time).