Thursday, May 31, 2007
May 31st - Thursday - Gapping up/down
Gapping Down
Gapping down on weak earnings/guidance: OPTM -10.6%, LGF -3.1%, SHLD -2.9%, COST -1.5%… Other news: OMR -8.1% (Bloomberg reports co is being sued by Spain over rights to shipwreck), VCLK -4.3% (appointed Tom Vadnais CEO, multiple brokers out this morning saying mgmt change decreases likelihood of acquisition), NOVC -2.2% (profit taking after yesterday’s move, downgraded to Peer Perform at Bear stearns), WLP (announces resignation of CFO following violation of co’s code of conduct).
Gapping Up
Gapping up on strong earnings/guidance: SMTC +10.2%, CIEN +7.1%, BIG +3.9%… M&A: AGE +14.3% (to be acquired by WB for $89.50 per AGE share), CEN +3.8% (to be acquired by Thomas H. Lee Partners and Fidelity National Financial for $36.00 per share)… Other news: CRTX +53.3% (FDA approves it’s twice-daily Zyflo CR extended-release tablets for asthma), AVNR +23.3% (receives FDA approval for new formulation of currently marketed antipsychotic drug FazaClo), ENCY +18.9% (Canadian Health authority approves Thelin), USAT +18.9% (discloses deal with Coca-Cola Enterprises in an 8-K), JAS +9.3% (TheDeal.com reports JAS is on the auction block), ASML +7.9% (announces plan to optimize capital structure — capital repayment and reverse stock split), CYTR +7.8% (initiated with an $8.50 fair value at Natexis Bleichroeder), HOKU +7% (still checking around), ENDP +5.5% (will replace Precision Castparts in the S&P MidCap 400), IFX +3.5% (positive comments at tier-1 firm), LUX +3.4% (positive comments at tier-1 firm).
May 31st - Thursday - Gapping up/down
Gapping Down
Gapping down on weak earnings/guidance: OPTM -10.6%, LGF -3.1%, SHLD -2.9%, COST -1.5%… Other news: OMR -8.1% (Bloomberg reports co is being sued by Spain over rights to shipwreck), VCLK -4.3% (appointed Tom Vadnais CEO, multiple brokers out this morning saying mgmt change decreases likelihood of acquisition), NOVC -2.2% (profit taking after yesterday’s move, downgraded to Peer Perform at Bear stearns), WLP (announces resignation of CFO following violation of co’s code of conduct).
Gapping Up
Gapping up on strong earnings/guidance: SMTC +10.2%, CIEN +7.1%, BIG +3.9%… M&A: AGE +14.3% (to be acquired by WB for $89.50 per AGE share), CEN +3.8% (to be acquired by Thomas H. Lee Partners and Fidelity National Financial for $36.00 per share)… Other news: CRTX +53.3% (FDA approves it’s twice-daily Zyflo CR extended-release tablets for asthma), AVNR +23.3% (receives FDA approval for new formulation of currently marketed antipsychotic drug FazaClo), ENCY +18.9% (Canadian Health authority approves Thelin), USAT +18.9% (discloses deal with Coca-Cola Enterprises in an 8-K), JAS +9.3% (TheDeal.com reports JAS is on the auction block), ASML +7.9% (announces plan to optimize capital structure — capital repayment and reverse stock split), CYTR +7.8% (initiated with an $8.50 fair value at Natexis Bleichroeder), HOKU +7% (still checking around), ENDP +5.5% (will replace Precision Castparts in the S&P MidCap 400), IFX +3.5% (positive comments at tier-1 firm), LUX +3.4% (positive comments at tier-1 firm).
Wednesday, May 30, 2007
May 30th - Wednesday - Gapping up/down
Gapping down on weak earnings/guidance: SOLF -20.5%, IBKR -5.5%, BGP -5.6%, JOYG -4.4%, FRO -3.0%... China-related stocks gapping down after 6.8% overnight sell-off in China: SNDA -5.1%, CAF -4.6%, KONG -4.4%, TSL -4.3%, XFML -4.0%, SOHU -3.9%, EFUT -3.8%, FFHL -3.7%, FMCN -3.6%, GCH -3.4%, SINA -2.2%, BIDU -1.7%, CTRP -1.3%... Chinese solar stocks under pressure on combination of weakness in China and in sympathy with SOLF earnings: JASO -5.9%, CSUN -5.0%, CSIQ -4.7%... Other news: IOMI -8.6% (continued pressure), TINY -6.0% (still checking), DEEP -3.6% (initiated with a Neutral at JP Morgan).
Futures indicate a lower start for the mkt as China's Shanghai Composite sold off 6.5% following yesterday afternoon's report that the Chinese govt tripled the tax on stock trading to 0.3% in an effort to curb speculative buying activity in the mkt. Note the monthly ADP employment report showed that an estimated 97K new private jobs, or roughly 123K nonfarm jobs, were created in May. However, the ADP report lacks credibility compared to Friday's more closely-watched May nonfarm payrolls, which is expected to check in around 135K.
Notable pre-market Calls include Upgrades: KNXA at Credit Suisse; Downgrades: BWLD at RBC; Initiations: STLD at Citi (Buy)... On the Earnings calendar: CHS, JRJC, JAS, LGF, NOVL, OPTM, PSS, SMTC and TIVO are confirmed to report after the close... On the Economic calendar, the May 9 FOMC Minutes will be released at 14:00ET.
Gapping up on strong earnings/guidance: CWTR +12.0%, DBRN +4.5%, PVH +3.0%... M&A: CDWC +3.5% (confirms it will be acquired by Madison Dearborn Partners for $87.75/share... Other news: OPWV +4.2% (Unstrung discusses ongoing rumors of higher bid in Openwave), BIIB +3.6% (announces $3 bln share repurchase through a modified "Dutch Auction" tender offer), TASR +2.5% (announces two orders).
Futures indicate a lower start for the mkt as China's Shanghai Composite sold off 6.5% following yesterday afternoon's report that the Chinese govt tripled the tax on stock trading to 0.3% in an effort to curb speculative buying activity in the mkt. Note the monthly ADP employment report showed that an estimated 97K new private jobs, or roughly 123K nonfarm jobs, were created in May. However, the ADP report lacks credibility compared to Friday's more closely-watched May nonfarm payrolls, which is expected to check in around 135K.
Notable pre-market Calls include Upgrades: KNXA at Credit Suisse; Downgrades: BWLD at RBC; Initiations: STLD at Citi (Buy)... On the Earnings calendar: CHS, JRJC, JAS, LGF, NOVL, OPTM, PSS, SMTC and TIVO are confirmed to report after the close... On the Economic calendar, the May 9 FOMC Minutes will be released at 14:00ET.
Gapping up on strong earnings/guidance: CWTR +12.0%, DBRN +4.5%, PVH +3.0%... M&A: CDWC +3.5% (confirms it will be acquired by Madison Dearborn Partners for $87.75/share... Other news: OPWV +4.2% (Unstrung discusses ongoing rumors of higher bid in Openwave), BIIB +3.6% (announces $3 bln share repurchase through a modified "Dutch Auction" tender offer), TASR +2.5% (announces two orders).
Tuesday, May 29, 2007
May 29th - Tuesday - Gapping up/down
Futures indicate a higher open for the mkt. Per usual, the first day of the trading week is packed with more deal-making news, which is helping to keep an underlying bid in stocks. The RBS Group has launched a revised $95.5 bln for ABN, while URS said it is paying $2.6 bln for WNG. Among today's takeover speculation, it has been reported that AL is drawing interest from the likes of RTP and NHY. Also, AV is reportedly in talks with Silver Lake Partners about a leveraged buyout, ASN is rumored to be nearing a sale for more than $12 bln and private equity suitors may be eyeing CDWC. In addition, now that the summer driving season is upon us, falling oil prices also bode well for the bulls coming back from an extended weekend.
Notable pre-market Calls include Upgrades: AZN and MRK at HSBC, APC at BofA; Downgrades: STLD at UBS, LTD at Morgan Stanley, NFLX at Piper Jaffray, LUV at Pru... On the Earnings calendar: ALKS, APSG, BCSI, BMC, BGP, CWTR, DCI, PVH and PAY are confirmed to report after the close... On the Economic calendar, as mentioned above May Consumer Confidence (consensus 104.5) will be released at 10:00ET.
Gapping Down: CUP -17.5% (co announces expiration of exclusivity period granted to a third party to facilitate discussions), EYE -12.7% (announced the voluntary recall of Complete MoisturePlus multipurpose solution), JSDA -8.1% (mentioned negatively in Barron's), BOL -4.2% (gapping down in sympathy with EYE; also on Friday EYE confirmed an interest in Bausch & Lomb), BRLC -3.7% (Barron's raises questions about the accounting practices at BRLC), VRSN -2.0% (co announces new CEO following resignation of prior CEO).
Gapping up on strong earnings/guidance: VOD +3.3%... Announced M&A and newspaper reports of potential M&A: WNG +14.6% (to be acquired by URS), BDY +22.5% (CEO offers to buy co for $21.50/share), AV +16.3% (WSJ reports AV may be next telecom takeover call), INSP +8.7% (Bloomberg reports that LaNetro may buy co for $800 mln Euros), CDWC +8.5% (WSJ reports buyout firms are in talks to purchase co), ASN +6.8% (WSJ reports that co is near a sale)... Other news: BLG +11.2% (Chap Cap Activist Partners recommends co explore sale, stock upgraded to Outperform at CIBC), RTK +5.6% (Peabody and Rentech enter into development and coal supply agreements), CHINA +5.0% (expands strategic partnerships with Google and China Mobile), LWSN +3.9% (WSJ highlights co), CCL +3.1%.
Notable pre-market Calls include Upgrades: AZN and MRK at HSBC, APC at BofA; Downgrades: STLD at UBS, LTD at Morgan Stanley, NFLX at Piper Jaffray, LUV at Pru... On the Earnings calendar: ALKS, APSG, BCSI, BMC, BGP, CWTR, DCI, PVH and PAY are confirmed to report after the close... On the Economic calendar, as mentioned above May Consumer Confidence (consensus 104.5) will be released at 10:00ET.
Gapping Down: CUP -17.5% (co announces expiration of exclusivity period granted to a third party to facilitate discussions), EYE -12.7% (announced the voluntary recall of Complete MoisturePlus multipurpose solution), JSDA -8.1% (mentioned negatively in Barron's), BOL -4.2% (gapping down in sympathy with EYE; also on Friday EYE confirmed an interest in Bausch & Lomb), BRLC -3.7% (Barron's raises questions about the accounting practices at BRLC), VRSN -2.0% (co announces new CEO following resignation of prior CEO).
Gapping up on strong earnings/guidance: VOD +3.3%... Announced M&A and newspaper reports of potential M&A: WNG +14.6% (to be acquired by URS), BDY +22.5% (CEO offers to buy co for $21.50/share), AV +16.3% (WSJ reports AV may be next telecom takeover call), INSP +8.7% (Bloomberg reports that LaNetro may buy co for $800 mln Euros), CDWC +8.5% (WSJ reports buyout firms are in talks to purchase co), ASN +6.8% (WSJ reports that co is near a sale)... Other news: BLG +11.2% (Chap Cap Activist Partners recommends co explore sale, stock upgraded to Outperform at CIBC), RTK +5.6% (Peabody and Rentech enter into development and coal supply agreements), CHINA +5.0% (expands strategic partnerships with Google and China Mobile), LWSN +3.9% (WSJ highlights co), CCL +3.1%.
Monday, May 28, 2007
May 25th - Friday - Gapping up/down
Gapping down on news: SLFI -35.7% (co reports its investigation has revealed evidence of a sophisticated loan scheme), WAVX -12.0% (to sell 7.3 mln shares of stock at $2.05 per share), NDAQ -5.8% (to buy Nordic exchange O.M.X.), TRB -2.1% (announces preliminary results of tender offer), AMGN -1.0% (EU health panel adopted a negative opinion for Vectibix).
Futures indicate a higher open for the mkt as yesterday's pullback seems to be viewed as a buying opportunity. M&A activity is once again contributing to the positive tone as KO agreed to buy Glaceau for $4.1 bln, while NDAQ said it would pay $3.7 bln for the Nordic exchange OMX. Note there were no market-moving earnings releases or economic data out this morning.
Notable pre-market Calls: NYX is trading up ~2%, Goldman upgrade to Neutral is being cited; HPQ initiated with an Outperform at Friedman Billings... Nothing remains on the Earnings calendar for today... On the Economic calendar, as mentioned above Apr Existing Home Sales (consensus 6.13 mln) will be released at 10:00ET.
Gapping up on strong earnings/guidance: VRGY +11.8%, LNUX +11.3%, RRGB +9.9%, ARUN +8.2%, VIP +3.3%... Other: CUP +18.0% (entered into an exclusivity agreement with a third party regarding a potential transaction), IDMI +14.0% (initiated with a Buy & $11 tgt at Canort Fitzgerald), LMRA +7.6%, BIVN +7.5% (highlighted in BusinessWeek's Inside Wall Street), RFMD +4.7% (upgraded to Buy at Jefferies), DCX +3.5%, CCE +3.3% (KO to buy Glaceau for $4.2 bln, CCE manufactures/distributes KO beverages), BOBJ (WestLB raises BOBJ to Buy), KO +1.4% (co to buy Glaceau for $4.2 bln).
Futures indicate a higher open for the mkt as yesterday's pullback seems to be viewed as a buying opportunity. M&A activity is once again contributing to the positive tone as KO agreed to buy Glaceau for $4.1 bln, while NDAQ said it would pay $3.7 bln for the Nordic exchange OMX. Note there were no market-moving earnings releases or economic data out this morning.
Notable pre-market Calls: NYX is trading up ~2%, Goldman upgrade to Neutral is being cited; HPQ initiated with an Outperform at Friedman Billings... Nothing remains on the Earnings calendar for today... On the Economic calendar, as mentioned above Apr Existing Home Sales (consensus 6.13 mln) will be released at 10:00ET.
Gapping up on strong earnings/guidance: VRGY +11.8%, LNUX +11.3%, RRGB +9.9%, ARUN +8.2%, VIP +3.3%... Other: CUP +18.0% (entered into an exclusivity agreement with a third party regarding a potential transaction), IDMI +14.0% (initiated with a Buy & $11 tgt at Canort Fitzgerald), LMRA +7.6%, BIVN +7.5% (highlighted in BusinessWeek's Inside Wall Street), RFMD +4.7% (upgraded to Buy at Jefferies), DCX +3.5%, CCE +3.3% (KO to buy Glaceau for $4.2 bln, CCE manufactures/distributes KO beverages), BOBJ (WestLB raises BOBJ to Buy), KO +1.4% (co to buy Glaceau for $4.2 bln).
May 24th - Thursday - Gapping up / down
Gapping down on weak earnings/guidance: NTAP -17.7%, NWY -7.7%, CA -6.1%, SNPS -6.0% (also downgraded at HSBC), MYL -4.5%, ZUMZ -4.3%... Other news: XRTX -8.4% (down in sympathy with NTAP, which makes up ~50% of XRTX revs), ONT -5.2% (continued profit taking following yesterday's reversal), BRLC -4.6% (prices 25.6 mln share offering at $5.75/share), ESLR -3.2% (prices a 15 mln share common stock offering at $8.25/share), DLB prices a 7 mln share common stock offering at $32/share), BRCD -2.0% (down in sympathy with NTAP). DNDN -2.3% (downgraded at JMP Securities).
Gapping up on strong earnings/guidance: SAFM +16.3%, OVEN +8.6%, GYMB +8.5%, PACT +8.0%... Other news: MITI +42.0% (co and Nycomed enter into exclusive worldwide collaboration to develop and commercialize anti-GM-CSF antibodies), LJPC +33.5% (reports Riquent well tolerated in three studies at International Lupus Congress), YMI +10.0% (reports successful regulatory reviews of nimotuzumab manufacturing), TASR +7.0% (announces three domestic orders and one export order), EXEL +5.9% (files IND application for XL019), GLS +4.4% (mentioned positively by Cramer), VOD +2.4% (continuation of yesterday's strength).
Gapping up on strong earnings/guidance: SAFM +16.3%, OVEN +8.6%, GYMB +8.5%, PACT +8.0%... Other news: MITI +42.0% (co and Nycomed enter into exclusive worldwide collaboration to develop and commercialize anti-GM-CSF antibodies), LJPC +33.5% (reports Riquent well tolerated in three studies at International Lupus Congress), YMI +10.0% (reports successful regulatory reviews of nimotuzumab manufacturing), TASR +7.0% (announces three domestic orders and one export order), EXEL +5.9% (files IND application for XL019), GLS +4.4% (mentioned positively by Cramer), VOD +2.4% (continuation of yesterday's strength).
May 23rd - Wednesday - Gapping up / down
Futures indicate a higher open for the mkt as investors sift through more M&A news. AL is recommending shareholders reject AA's $27.6 bln hostile takeover bid, but hasn't ruled out the possibility of making its own bid for AA, and is reportedly in merger talks with BHP. Also, CEI agreed to be acquired by MS for $22.80/sh, while PSS said it will pay $20.50/sh for SRR. On the earnings front, MDT and TGT are both trading higher after posting better than expected earnings.
Notable pre-market Calls include Upgrades: CYPB at CIBC, MDT at Piper Jaffray, AEM, AU and RGLD at HSBC; Downgrades: AMD at Matrix, VCLK at Credit Suisse... On the Earnings calendar, 16 cos are confirmed to report after the close, though none are expected to be market-moving releases...
Gapping down on weak earnings/guidance: ADI -8.5%, DDS -3.1%, GME -1.7%... Other news: NFLD -44.5% (reports results of its pivotal Phase III trauma trial with PolyHeme), ISIL -4.2% (downgraded at Credit Suisse), LLTC -2.3% (ITC Judge Rules in favor of AATI in patent infringement case, downgraded at Credit Suisse), NWEC -1.8% I(Bloomberg.com reports that Babcock Infrastructure may appeal NorthWestern ruling).
Gapping up on strong earnings/guidance: SNDA +5.3%, MDT +4.6%... M&A: SRR +32.3% (to be acquired by PSS for $20.50 per share), CEI +4.8% (to be acquired by Morgan Stanley Real Estate for $22.80 per share), AL +3.5% (AL board recommends that shareholders reject AA offer, says co is in talks with other companies)... Other news: CYPB +104.7% (co and FRX announced positive Phase III data for milnacipran), AATI +18.0% (announces ITC ruling in favor of co in LLTC case), ZVUE +9.3% (begins offering free streaming content from Canadian Broadcasting), FRX +9.3% (announced positive Phase III data for milnacipran), MMR +7.9% (announces it will move forward aggressively at Mt. Kare), ONT +7.0% (named as a ADBE takeout tgt by FT's Mergermarket), ZOLT +3.7% (reports new expanded carbon fiber supply agreement with Vestas Wind Systems), ALU +3.5% (follow through on strength overseas on positive outlook), WFR +3.2% (to replace KMI in S&P 500), GOOG +1.5% (unveils its new service Google Hot Trends, which can track search queries; we're still checking around).
Notable pre-market Calls include Upgrades: CYPB at CIBC, MDT at Piper Jaffray, AEM, AU and RGLD at HSBC; Downgrades: AMD at Matrix, VCLK at Credit Suisse... On the Earnings calendar, 16 cos are confirmed to report after the close, though none are expected to be market-moving releases...
Gapping down on weak earnings/guidance: ADI -8.5%, DDS -3.1%, GME -1.7%... Other news: NFLD -44.5% (reports results of its pivotal Phase III trauma trial with PolyHeme), ISIL -4.2% (downgraded at Credit Suisse), LLTC -2.3% (ITC Judge Rules in favor of AATI in patent infringement case, downgraded at Credit Suisse), NWEC -1.8% I(Bloomberg.com reports that Babcock Infrastructure may appeal NorthWestern ruling).
Gapping up on strong earnings/guidance: SNDA +5.3%, MDT +4.6%... M&A: SRR +32.3% (to be acquired by PSS for $20.50 per share), CEI +4.8% (to be acquired by Morgan Stanley Real Estate for $22.80 per share), AL +3.5% (AL board recommends that shareholders reject AA offer, says co is in talks with other companies)... Other news: CYPB +104.7% (co and FRX announced positive Phase III data for milnacipran), AATI +18.0% (announces ITC ruling in favor of co in LLTC case), ZVUE +9.3% (begins offering free streaming content from Canadian Broadcasting), FRX +9.3% (announced positive Phase III data for milnacipran), MMR +7.9% (announces it will move forward aggressively at Mt. Kare), ONT +7.0% (named as a ADBE takeout tgt by FT's Mergermarket), ZOLT +3.7% (reports new expanded carbon fiber supply agreement with Vestas Wind Systems), ALU +3.5% (follow through on strength overseas on positive outlook), WFR +3.2% (to replace KMI in S&P 500), GOOG +1.5% (unveils its new service Google Hot Trends, which can track search queries; we're still checking around).
May 22nd Tuesday - Gapping up /down
Gapping down on weak earnings/guidance: KONG -16.2%, GSOL -7.1%, GIGM -5.5%, APOL -4.1%, SPLS -3.2%, NTES -2.4%... Other news: OMTR -7.1% (announces a 6.8 mln share common stock offering), ACW -6.3% (files for a 5.4 mln share common stock secondary offering by selling shareholders), HRAY -4.9%, ONT -3.5% (announces acquisition of Hantro Products), DYN -3.8% (Chevron to sell Dynegy shares), MNST -2.9% (tier-1 firm suggesting sale of co may be less likely), SSL -2.7% (gives project update for Oryx gas-to-liquids venture).
Gapping up on strong earnings/guidance: PSUN +6.5%, ASEI +4.4%... Casino stocks seeing strength following Tracinda/MGM negotiations: MGM +24.1%, BYD +7.0%, WYNN +4.9%, LVS +3.9%... Mortgage-related stocks moving following FMT developments: FMT +50.6%, NFI +9.9%, LEND +9.4%, IMH +6.6%, AHM +3.9%... Other news: AVNC +20.9% (announces FDA acceptance of Amoxicillin Pulsys NDA), OXPS +6.7% (continued momentum following yesterday's 7% move higher on takeover rumors), EMU +4.9% (light volume, broker comments out of Canada discussed potential sale of co), TSS +4.5% (mentioned by Cramer next co that could be bought), DNDN +4.5% (continuation of strength from yesterday afternoon), STM +2.5% (STM, INTC and Francisco Partners to create a new independent semiconductor co), CTSH +1.8% (positive comments from tier-1 firm).
Short-term Overbought/Oversold candidates -Update- -Technical-
Here's a brief list of stocks that are currently trading at unusually high or low short-term levels. Stocks that are overbought include: JRCC, CFUL, CLRK, RAVN, ICPR, MEK, TBSI, BG, GLDD, TECUA, UA, VCP, CMRG, DDS, RIG, CTRP, OMTR, FRG, OMNI, NM, URZ, ENT, CERS, TOPT, BIVN, PCLN, CRZO, SIL, & WINN. Stocks that are oversold include: IMCL, POP, BBI, MPEL, SOLF, VGZ, GLBC, & IDMI. Watch these stocks for potential continuations or corrections from their current states.
Stocks that closed near or at their session high/lows yesterday on above avg volume -Update- -Technical-
Stocks that closed near or at session highs included: ITW, SBH, EFD, PXP, WYE, SRP, TNE, MVL, VCP, LEG, AMZN, CREE, DJO, CMRG, NRMX, ICE, NYX, TMX, ICGE, LAVA, ALJ, ARA, ACW, AMLN, FEIC, SEPR, & HMIN. Stocks that closed near or at session lows included: SKS, SSL, NVS, & GSK. Watch these stocks for potential corrections or continuations of yesterday's action.
Gapping up on strong earnings/guidance: PSUN +6.5%, ASEI +4.4%... Casino stocks seeing strength following Tracinda/MGM negotiations: MGM +24.1%, BYD +7.0%, WYNN +4.9%, LVS +3.9%... Mortgage-related stocks moving following FMT developments: FMT +50.6%, NFI +9.9%, LEND +9.4%, IMH +6.6%, AHM +3.9%... Other news: AVNC +20.9% (announces FDA acceptance of Amoxicillin Pulsys NDA), OXPS +6.7% (continued momentum following yesterday's 7% move higher on takeover rumors), EMU +4.9% (light volume, broker comments out of Canada discussed potential sale of co), TSS +4.5% (mentioned by Cramer next co that could be bought), DNDN +4.5% (continuation of strength from yesterday afternoon), STM +2.5% (STM, INTC and Francisco Partners to create a new independent semiconductor co), CTSH +1.8% (positive comments from tier-1 firm).
Short-term Overbought/Oversold candidates -Update- -Technical-
Here's a brief list of stocks that are currently trading at unusually high or low short-term levels. Stocks that are overbought include: JRCC, CFUL, CLRK, RAVN, ICPR, MEK, TBSI, BG, GLDD, TECUA, UA, VCP, CMRG, DDS, RIG, CTRP, OMTR, FRG, OMNI, NM, URZ, ENT, CERS, TOPT, BIVN, PCLN, CRZO, SIL, & WINN. Stocks that are oversold include: IMCL, POP, BBI, MPEL, SOLF, VGZ, GLBC, & IDMI. Watch these stocks for potential continuations or corrections from their current states.
Stocks that closed near or at their session high/lows yesterday on above avg volume -Update- -Technical-
Stocks that closed near or at session highs included: ITW, SBH, EFD, PXP, WYE, SRP, TNE, MVL, VCP, LEG, AMZN, CREE, DJO, CMRG, NRMX, ICE, NYX, TMX, ICGE, LAVA, ALJ, ARA, ACW, AMLN, FEIC, SEPR, & HMIN. Stocks that closed near or at session lows included: SKS, SSL, NVS, & GSK. Watch these stocks for potential corrections or continuations of yesterday's action.
Monday, May 21, 2007
May 21st Monday - Gapping up / down
Gapping down on weak earnings/guidance: TSL -3.1% (down in sympathy ESLR -2.6%, SOLF -1.1%, JASO -0.6%, FSLR -0.6%), LOW -2.1%... Other news: XFML -12.5% (announced immediate resignation of Shelly Singhal from the Boards of both Xinha Finance and Xinhua Finance Media, as well as from all executive and managerial positions), HTZ -5.1% (files for 45 mln share offering by selling shareholders), HOLX -3.8% (to acquire Cytyc), SEPR -3.5% (C.M.S. updates Medicare billing codes, Xopenex U.D.V. and generic albuterol to be listed under same codes - tgt cut to $40 at FBR; also upgraded to Neutral at Cowen), DJ -3.5% (Murdoch, News Corp prepare to abandon DJ bid, Pali says - Bloomberg.com), SIGM -3.2% (announces CFO resignation, names Thomas Gay as replacement), MNST -2.6% (Don't believe recent deals should be extrapolated to MNST - Wachovia).
Futures indicate a mixed open for the mkt as investors digest another round of Monday-morning M&A activity. AT has agreed to be taken private for $27.5 bln, a 10% premium to Friday's close. HOLX agreed to buy CYTC for $6.2 bln in cash and stock, while EAGL received a revised $1.95 bln takeover bid from CEVA Group. In addition, China is reportedly investing $3 bln in Blackstone, which increased the size of its IPO to $4.75 bln.
Notable pre-market Calls include Upgrades: HOLX at BofA, SHFL at Bear Stearns; Downgrades: CFC at Friedman Billings, CCU at Bear Stearns... On the Earnings calendar: ASEI, APOL, HMIN, KONG, NTES, PSUN, PERY, NCTY and WSTL are confirmed to report after the close... Today's Economic calendar is clear.
Gapping up on strong earnings/guidance: PEGA +5.8%, CCC +3.7%, RTLX +3.5%... M&A: CYTC +30.4% (to be acquired by Hologic in a stock/cash deal), PONR +17.0% (to be acquired by Olin for $35.00/share), VMED +9.3% (private equity considering $15 bln bid for Virgin Media - The Observer), EMU +6.4% (announces it is in exclusive negotiations regarding potential sale of co... sympathy plays: USU, DNN, URZ, FRG, USEG, CXZ), ATLS +6.3% (to acquire DTE's +0.6% Gas & Oil unit for $1.225 bln), AT +5.5% (to be acquired by TPG Capital & GS Capital for $71.50/share), EAGL +3.3% (CEVA Logistics confirms increased proposal to acquire EAGL for $47.50/share in cash)... Other news: LUNA +40.0% (blood circuit monitor receives FDA clearance), ELN +14.2% (co and Wyeth to initiate Phase 3 trial of Bapineuzumab in Alzheimer's), ARTX +12.8% (awarded $9 mln order by U.S. Marine Corps; very light volume), VC +11.6% (Tatas in talks for stake in Visteon - Business Standard), NCTY +11.5% (announces equity investment and licensing agreement by Electronic Arts), CTEL +8.2% (follow-through momentum after Friday's earnings-related range breakout), CBLI +7.9% (announces Protectan CBLB612 produces breakthrough in bone marrow stem cell transplant study; very light volume), DWA +7.6% (Shrek 3 has highest grossing animated film opening of all time; very light volume), DNDN +6.9% (announces presentation of Provenge data at American Urological Association meeting), OMR +6.4% (momentum extension after stock rallied to highs into Friday's close), VCLK +5.5% (target raised to $43 at ThinkEquity), CRUS +5.3% (Insider buying reported at CRUS - Barron's), CRM +4.5% (Google and CRM weigh alliance to battle Microsoft - WSJ), SHFL +3.3% (upgraded to Peer Perform at Bear Stearns), ONT +3.3% (momentum).
Futures indicate a mixed open for the mkt as investors digest another round of Monday-morning M&A activity. AT has agreed to be taken private for $27.5 bln, a 10% premium to Friday's close. HOLX agreed to buy CYTC for $6.2 bln in cash and stock, while EAGL received a revised $1.95 bln takeover bid from CEVA Group. In addition, China is reportedly investing $3 bln in Blackstone, which increased the size of its IPO to $4.75 bln.
Notable pre-market Calls include Upgrades: HOLX at BofA, SHFL at Bear Stearns; Downgrades: CFC at Friedman Billings, CCU at Bear Stearns... On the Earnings calendar: ASEI, APOL, HMIN, KONG, NTES, PSUN, PERY, NCTY and WSTL are confirmed to report after the close... Today's Economic calendar is clear.
Gapping up on strong earnings/guidance: PEGA +5.8%, CCC +3.7%, RTLX +3.5%... M&A: CYTC +30.4% (to be acquired by Hologic in a stock/cash deal), PONR +17.0% (to be acquired by Olin for $35.00/share), VMED +9.3% (private equity considering $15 bln bid for Virgin Media - The Observer), EMU +6.4% (announces it is in exclusive negotiations regarding potential sale of co... sympathy plays: USU, DNN, URZ, FRG, USEG, CXZ), ATLS +6.3% (to acquire DTE's +0.6% Gas & Oil unit for $1.225 bln), AT +5.5% (to be acquired by TPG Capital & GS Capital for $71.50/share), EAGL +3.3% (CEVA Logistics confirms increased proposal to acquire EAGL for $47.50/share in cash)... Other news: LUNA +40.0% (blood circuit monitor receives FDA clearance), ELN +14.2% (co and Wyeth to initiate Phase 3 trial of Bapineuzumab in Alzheimer's), ARTX +12.8% (awarded $9 mln order by U.S. Marine Corps; very light volume), VC +11.6% (Tatas in talks for stake in Visteon - Business Standard), NCTY +11.5% (announces equity investment and licensing agreement by Electronic Arts), CTEL +8.2% (follow-through momentum after Friday's earnings-related range breakout), CBLI +7.9% (announces Protectan CBLB612 produces breakthrough in bone marrow stem cell transplant study; very light volume), DWA +7.6% (Shrek 3 has highest grossing animated film opening of all time; very light volume), DNDN +6.9% (announces presentation of Provenge data at American Urological Association meeting), OMR +6.4% (momentum extension after stock rallied to highs into Friday's close), VCLK +5.5% (target raised to $43 at ThinkEquity), CRUS +5.3% (Insider buying reported at CRUS - Barron's), CRM +4.5% (Google and CRM weigh alliance to battle Microsoft - WSJ), SHFL +3.3% (upgraded to Peer Perform at Bear Stearns), ONT +3.3% (momentum).
Sunday, May 20, 2007
May 18th - Friday - Gapping up / down
Futures indicate a higher open for stocks. M&A news is leading this morning's headlines as MSFT has agreed to acquire AQNT for $66.50/sh, an 85% premium from yesterday's closing price. In addition, GE is reportedly near a deal to sell its plastics unit for ~$11 bln. On the Earnings front, retailers KSS and JWN reported better than expected earnings and raised fiscal year guidance. It's also worth noting China said today it will widen the Yuan trading band, while increasing deposit and lending rates.
Notable pre-market Calls include Upgrades: PCLN, VZ and REP at Citi, NYX at JP Morgan; Downgrades: JNPR at Citi, MO at Matrix, VCLK at Needham... On the Earnings calendar, no cos are confirmed to report today... On the Economic calendar, preliminary May Michigan Sentiment (consensus 86.5) will be released at 10:00ET.
Gapping up on strong earnings/guidance: INTU +11.0%, FMCN +6.8%, RDY +5.6%, TOPT +4.4%... M&A: AQNT +78.3% (to be acquired by Microsoft for $66.50/share... up in sympathy: DGIT +9.4%, VCLK +9.0%, THK +8.1%, VSCN +6.2%, MCHX +4.2%, ONSM +3.3%), TONE +32.0% (to be acquired by CapitalSource for $34.46/share)... Other news: CHIP +17.8% (profiled in BusinessWeek Online), OMR +41.7% (Deep-sea explorers discover possible richest shipwreck treasure in history - Fox News), TRMP +14.8% (announces status of strategic review), APKT +3.8% (upgraded to Buy at Cantor), BWLD +3.4% (to acquire Las Vegas franchised restaurants, announces 2 for 1 split), CY +2.9% (bullish comments from Cramer).
Notable pre-market Calls include Upgrades: PCLN, VZ and REP at Citi, NYX at JP Morgan; Downgrades: JNPR at Citi, MO at Matrix, VCLK at Needham... On the Earnings calendar, no cos are confirmed to report today... On the Economic calendar, preliminary May Michigan Sentiment (consensus 86.5) will be released at 10:00ET.
Gapping up on strong earnings/guidance: INTU +11.0%, FMCN +6.8%, RDY +5.6%, TOPT +4.4%... M&A: AQNT +78.3% (to be acquired by Microsoft for $66.50/share... up in sympathy: DGIT +9.4%, VCLK +9.0%, THK +8.1%, VSCN +6.2%, MCHX +4.2%, ONSM +3.3%), TONE +32.0% (to be acquired by CapitalSource for $34.46/share)... Other news: CHIP +17.8% (profiled in BusinessWeek Online), OMR +41.7% (Deep-sea explorers discover possible richest shipwreck treasure in history - Fox News), TRMP +14.8% (announces status of strategic review), APKT +3.8% (upgraded to Buy at Cantor), BWLD +3.4% (to acquire Las Vegas franchised restaurants, announces 2 for 1 split), CY +2.9% (bullish comments from Cramer).
May 17th - Thursday - Gapping up / down
Futures indicate a slightly lower start for stocks as investors await Fed Chairman Bernanke's testimony at 9:30ET on the subprime mortgage mkt. HPQ is leading earnings headlines as the co reported inline, reaffirmed Q3 guidance and issued inline FY07 guidance. On the economic front, weekly Initial Claims fell 5K to 293K (consensus 310K).
Notable pre-market Calls include Upgrades: ONXX at Friedman Billings, MGM at Prudential, MPWR at Deutsche Bank and Piper Jaffray, TGT at AG Edwards; Downgrades: CAT at Stifel Nicolaus, CMG at Morgan Joseph... On the Earnings calendar, 10 cos are confirmed to report after the close including KSS and JWN... On the Economic calendar, Apr Leading Indicators (consensus 0.0%) will be released at 10:00ET and May Philadelphia Fed (consensus 4.0) will be released at 12:00ET.
Gapping down on news: MDTH -5.1% (priced additional 4 mln share offering at 33.07), DNN -4.2% (updates Canadian mining and production plans), MU -2.4% (files for a $1.1 bln convertible notes offering).
Gapping up on strong earnings/guidance: HPQ +1.1%... M&A: ACXM +18.4% (to be acquired by Silver Lake and ValueAct Capital for $27.10 per share), TFSM +4.5% (to be acquired by WPP for $11.75 per share)... Other news: DUSA +32.5% (receives Orphan Drug Designation for Levulan PDT to treat esophageal dysplasia), CTIC +5.0% (receives FDA special protocol assessment comments on the design of Phase III Trial of Pixantrone), GERN +6.0% (its scientists and collaborators differentiate human embryonic stem cells into insulin-producing islet-like clusters), ISIS +4.0% (announces positive Phase 2 data for ISIS 301012), SUNW +3.9% (announces $3 bln share buyback).
Early Pre-Market Gappers
Gapping Up: ACXM +16.6%, GERN +6.0%, ISIS +4.8%, SUNW +3.7%, TFSM +3.5%, HPQ +1.6%... Gapping Down: MU -2.0%, WF -1.2%.
Notable pre-market Calls include Upgrades: ONXX at Friedman Billings, MGM at Prudential, MPWR at Deutsche Bank and Piper Jaffray, TGT at AG Edwards; Downgrades: CAT at Stifel Nicolaus, CMG at Morgan Joseph... On the Earnings calendar, 10 cos are confirmed to report after the close including KSS and JWN... On the Economic calendar, Apr Leading Indicators (consensus 0.0%) will be released at 10:00ET and May Philadelphia Fed (consensus 4.0) will be released at 12:00ET.
Gapping down on news: MDTH -5.1% (priced additional 4 mln share offering at 33.07), DNN -4.2% (updates Canadian mining and production plans), MU -2.4% (files for a $1.1 bln convertible notes offering).
Gapping up on strong earnings/guidance: HPQ +1.1%... M&A: ACXM +18.4% (to be acquired by Silver Lake and ValueAct Capital for $27.10 per share), TFSM +4.5% (to be acquired by WPP for $11.75 per share)... Other news: DUSA +32.5% (receives Orphan Drug Designation for Levulan PDT to treat esophageal dysplasia), CTIC +5.0% (receives FDA special protocol assessment comments on the design of Phase III Trial of Pixantrone), GERN +6.0% (its scientists and collaborators differentiate human embryonic stem cells into insulin-producing islet-like clusters), ISIS +4.0% (announces positive Phase 2 data for ISIS 301012), SUNW +3.9% (announces $3 bln share buyback).
Early Pre-Market Gappers
Gapping Up: ACXM +16.6%, GERN +6.0%, ISIS +4.8%, SUNW +3.7%, TFSM +3.5%, HPQ +1.6%... Gapping Down: MU -2.0%, WF -1.2%.
May 20th - Wednesday - Gapping up / down
Gapping down on weak earnings/guidance: HRT -26.3%, FRPT -4.0%, AMAT -3.9% (down in sympathy NVLS -3.6%, LRCX -2.4%, KLAC -2.3%, VSEA -1.9%, ASML -1.1%, TXN -0.7%), LTD -3.0% (also multiple downgrades)... Other news: SWAT -8.6% (discloses "going concern" language in 10-KSB), ATEA -4.1% (profit-taking after yesterday's earnings-related gap up), EEP -3.8% (files for 5.3 mln share offering), ESLR -3.4% (files for 15 mln share secondary).
Pre-market Summary : Futures indicate only a slightly higher start for the mkt following mixed housing data. Housing starts unexpectedly rose 2.5% in Apr to 1.528 mln (consensus 1.48 mln), the highest level this year, reflecting more stabilization in housing. However, Building Permits, a sign of future construction, fell 8.9% to a 10-year low of 1.429 mln (consensus 1.52 mln). The disclosure of significant investments in several large-cap names (Eddie Lampert in C, George Soros in MSFT, etc) is contributing to the improved sentiment.
Notable pre-market Calls include Upgrades: TIVO at Bear Stearns; Downgrades: BID at JMP Securities, LTD at Wachovia, Citi and BofA, TXN at CIBC, AMAT at Cowen; Initiations: CROX at JP Morgan (Overweight) gapping up above $75.00... On the Earnings calendar, 12 cos are confirmed to report after the close including HPQ... On the Economic calendar, Apr Industrial Production (consensus 0.3%) and Capacity Utilization (consensus 81.5%) will be released at 9:15ET.
Gapping up on strong earnings/guidance: QXM +12.4% (up in sympathy majority owner XING +5.5%), CPWR +10.8%, ESMC +8.6%, CVLT +8.4%, JBX +5.6%, REDF +5.4%, SNE +4.1%, CPA +3.9%... M&A: AGIL +12.9% (to be acquired by Oracle for $8.10/share... up in sympathy ARTG +4.8%?), BOL +9.8% (to be acquired by private equity for $65.00/share), NX +4.9% (to review strategic alternatives for Building Products group)... Other news: CPNLQ.PK +12.7% (WSJ reports Calpine is getting a favorable new look from investors), MPWR +11.7% (O2Micro to appeal jury verdict recently rendered in favor of MPWR and Asustek), NUVO +8.6% (upgraded to Neutral at BofA), ACM +7.1% (Cramer positive on stock), HLIT +5.1% (upgraded to Mkt Perform at FBR), COMS +4.9% (WSJ runs blurb noting co named new CFO... originally announced 5/10), BRCD +3.9% (upgraded to Overweight at JP Morgan), CNTY +3.4% (announces new managing director of its South African subsidiary).
Pre-market Summary : Futures indicate only a slightly higher start for the mkt following mixed housing data. Housing starts unexpectedly rose 2.5% in Apr to 1.528 mln (consensus 1.48 mln), the highest level this year, reflecting more stabilization in housing. However, Building Permits, a sign of future construction, fell 8.9% to a 10-year low of 1.429 mln (consensus 1.52 mln). The disclosure of significant investments in several large-cap names (Eddie Lampert in C, George Soros in MSFT, etc) is contributing to the improved sentiment.
Notable pre-market Calls include Upgrades: TIVO at Bear Stearns; Downgrades: BID at JMP Securities, LTD at Wachovia, Citi and BofA, TXN at CIBC, AMAT at Cowen; Initiations: CROX at JP Morgan (Overweight) gapping up above $75.00... On the Earnings calendar, 12 cos are confirmed to report after the close including HPQ... On the Economic calendar, Apr Industrial Production (consensus 0.3%) and Capacity Utilization (consensus 81.5%) will be released at 9:15ET.
Gapping up on strong earnings/guidance: QXM +12.4% (up in sympathy majority owner XING +5.5%), CPWR +10.8%, ESMC +8.6%, CVLT +8.4%, JBX +5.6%, REDF +5.4%, SNE +4.1%, CPA +3.9%... M&A: AGIL +12.9% (to be acquired by Oracle for $8.10/share... up in sympathy ARTG +4.8%?), BOL +9.8% (to be acquired by private equity for $65.00/share), NX +4.9% (to review strategic alternatives for Building Products group)... Other news: CPNLQ.PK +12.7% (WSJ reports Calpine is getting a favorable new look from investors), MPWR +11.7% (O2Micro to appeal jury verdict recently rendered in favor of MPWR and Asustek), NUVO +8.6% (upgraded to Neutral at BofA), ACM +7.1% (Cramer positive on stock), HLIT +5.1% (upgraded to Mkt Perform at FBR), COMS +4.9% (WSJ runs blurb noting co named new CFO... originally announced 5/10), BRCD +3.9% (upgraded to Overweight at JP Morgan), CNTY +3.4% (announces new managing director of its South African subsidiary).
Tuesday, May 15, 2007
May 15th - Tuesday - Gapping up / down
Gapping down on weak earnings/guidance: KRSL -24.0%, STEC -17.6% (also multiple downgrades), CNTF -13.8%, JASO -6.9%, PLTE -6.6%, BDCO -6.3%, IGLD -4.9%, TJX -4.1%, ACAT -3.6%, HD -2.3%... Other news: AMGN -6.9% (WSJ reports Medicare may limit anemia-drug money; also multiple downgrades), BARE -3.7% (files for a 10 mln share common stock offering), BSTE -3.2% (Beckman advises it won't increase offer to acquire BSTE beyond $90/share), GMR -3.0%, TIVO -2.8% (hearing downgraded at boutique firm).
Futures indicate a flat open for stocks as CPI rose 0.4% (consensus 0.5%) in April and the more closely-watched core CPI rose 0.2% (consensus 0.2%), pushing the yr/yr rate to 2.3%, which is closer to the Fed's "comfort zone". On the Earnings front, HD is trading down 2% after missing on the top and bottom line and guiding FY08 EPS at the low end of prior forecasts. WMT is trading slightly higher after reporting and guiding Q2 EPS inline.
Notable pre-market Calls include Upgrades: DCX at UBS, GM at Lehman, MRO at BofA, LVS and BOT at BMO Capital; Downgrades: AMGN at Robert W. Baird and BofA, STEC at Deutsche Bank, CIBC and Northland Securities, TSO and VLO at BofA (from Buy to neutral), BYD at BMO Capital... On the Earnings calendar, AMAT, CPWR, MNTG, PLAB and POWI are confirmed to report after the close... On the Economic calendar, nothing remains on the schedule for today.
Gapping up on strong earnings/guidance: PLCC +33.3%, ATEA +31.9%, WINN +19.8%, ACY +11.1%, ICFI +7.5% (also downgraded to Hold at Jefferies), LINE 5.3%, PCS +5.0%, CPSL +4.2%, KRY +3.5%... M&A: TW +3.3% (to be acquired by AIG for $22.00/share)... Other news: ICAD +22.1% (files 8-K with Q1 results, note co first reported these numbers on 5/8), SIGA +8.1% (announces successful results of proof of concept guinea pig trial of ST-193), CRTX +7.9% (follow-through momentum), HTLD +6.2% (declares special dividend of $2.00/share), MR +6.1% (upgraded to Buy at UBS), HTRN +5.9% (announces FDA clearance and launch of the new lithoDiamond ULTRA lithotripter), MXWL +5.8% (co and Argonne National Lab to collaborate in test of ultracapacitor/lithium-ion battery combination for hybrid vehicles), OMRI +4.3% (receives FDA approval for liquid fibrin sealant, Evicel, for use in vascular surgery), SOFO +4.1% (initiated with a Buy at Cantor), RTRSY +3.9% (Thomson and RTRSY agree on terms for merger).
Gapping Down: STEC -13.7%, IGLD -9.8%, PLTE -6.6%, AMGN -4.4%, NTAP -3.4%, BSTE -3.2%, GRZ -2.5%, HD -2.2%, SPPI -1.9%, BEAS -1.9%.
Futures indicate a flat open for stocks as CPI rose 0.4% (consensus 0.5%) in April and the more closely-watched core CPI rose 0.2% (consensus 0.2%), pushing the yr/yr rate to 2.3%, which is closer to the Fed's "comfort zone". On the Earnings front, HD is trading down 2% after missing on the top and bottom line and guiding FY08 EPS at the low end of prior forecasts. WMT is trading slightly higher after reporting and guiding Q2 EPS inline.
Notable pre-market Calls include Upgrades: DCX at UBS, GM at Lehman, MRO at BofA, LVS and BOT at BMO Capital; Downgrades: AMGN at Robert W. Baird and BofA, STEC at Deutsche Bank, CIBC and Northland Securities, TSO and VLO at BofA (from Buy to neutral), BYD at BMO Capital... On the Earnings calendar, AMAT, CPWR, MNTG, PLAB and POWI are confirmed to report after the close... On the Economic calendar, nothing remains on the schedule for today.
Gapping up on strong earnings/guidance: PLCC +33.3%, ATEA +31.9%, WINN +19.8%, ACY +11.1%, ICFI +7.5% (also downgraded to Hold at Jefferies), LINE 5.3%, PCS +5.0%, CPSL +4.2%, KRY +3.5%... M&A: TW +3.3% (to be acquired by AIG for $22.00/share)... Other news: ICAD +22.1% (files 8-K with Q1 results, note co first reported these numbers on 5/8), SIGA +8.1% (announces successful results of proof of concept guinea pig trial of ST-193), CRTX +7.9% (follow-through momentum), HTLD +6.2% (declares special dividend of $2.00/share), MR +6.1% (upgraded to Buy at UBS), HTRN +5.9% (announces FDA clearance and launch of the new lithoDiamond ULTRA lithotripter), MXWL +5.8% (co and Argonne National Lab to collaborate in test of ultracapacitor/lithium-ion battery combination for hybrid vehicles), OMRI +4.3% (receives FDA approval for liquid fibrin sealant, Evicel, for use in vascular surgery), SOFO +4.1% (initiated with a Buy at Cantor), RTRSY +3.9% (Thomson and RTRSY agree on terms for merger).
Gapping Down: STEC -13.7%, IGLD -9.8%, PLTE -6.6%, AMGN -4.4%, NTAP -3.4%, BSTE -3.2%, GRZ -2.5%, HD -2.2%, SPPI -1.9%, BEAS -1.9%.
May 14th - Monday - Gapping up/down
Gapping down on weak earnings/guidance: VYYO -6.3%... Other news: MYL -11.8% (to acquire generics business of Merck KGaA for $6.7 bln), OPMR -7.5% (responds to request from US attorney's office in Southern District of NY; very light volume), RDY -5.8% (Teva & RDY lose bid to overturn patent on JNJ/Eisai's Aciphex), BVF -3.9% (acknowledges receipt of Wells Notice), RTP -3.5% & BHP -1.7% (down on newspaper articles "Rivals look to thwart $33 bln aluminium deal" and "RTP hires Morgan Stanley for bid defense"), IRF -2.9% (discloses it found accounting problems at foreign subsidiary), LEND -2.7% (files delay of 10-Q on Friday afternoon), NFI -1.7% (Risks outweigh the opportunities - FBR).
Futures indicate a flat start for stocks. With the mkt's focus shifting away from earnings and back to economic data, an empty economic calendar this morning is stalling follow-through efforts from Friday's rally. Per usual for a Monday morning, M&A activity is making headlines. Cerberus Capital Mgmt is paying $7.41 bln for an 80% stake in DCX's Chrysler unit, while MYL has agreed to acquire Merck KGaA's generic drug division for $6.7 bln. Bloomberg also reported family members are weighing a sale of their controlling stake in F.
Gapping up on strong earnings/guidance: AEY +17.4%, PETS +16.6%, JCDA +12.8%, SMTX +12.1%, XFN +10.2%, CSIQ +7.7%, XNN +6.7%... NOK +2.9% raises guidance, up in sympathy: RFMD +2.8% and TXN +0.4%... M&A: VAS +36.3% (to be acquired by Cardinal Health for $42.75/share), INFT +27.2% (to be acquired by Business & Decision for $4.25/share), PRM +20.5% & SORC +6.6% (SORC to acquire PRM's Enthusiast Media segment), EAGL +6.3% (announces increase in offers from both CEVA and group led by EAGL CEO Jim Crane), DCX +3.8% (Cerberus takes over majority interest in Chrysler Group and related financial services business for $7.4 bln)... Other news: CRTX +28.5% (FDA approves DEY's New Drug Application for Perforomist Inhalation Solution), LJPC +13.0% (initiated with a Buy at Needham), BDSI +11.6% (announces BEMA Fentanyl Phase III data demonstrates statistical significance), ONT +10.9% (follow-though momentum), SILC +10.4% (announces design win from "one of the world's largest telecoms equipment manufacturers"), GERN +7.6% (positive article in TheStreet.com), DNDN +7.2% (short-squeeze), ACH +4.6% (follow-through momentum; also up in sympathy after Telegraph reports that rival mining groups are drawing up plans to gatecrash Alcoa's hostile bid for Alcan), ALTI +4.6% (follow-through momentum), SIF +4.5% (follow-though momentum after Friday's earnings-related surge), MEND +4.4% (Cramer positive on stock), GNVC +4.3% (added to Nasdaq Biotechnology Index), FRPT +3.4% (Cramer positive on stock; also mentioned in WSJ article "Armored-vehicle builders compete for bigger payday).
Futures indicate a flat start for stocks. With the mkt's focus shifting away from earnings and back to economic data, an empty economic calendar this morning is stalling follow-through efforts from Friday's rally. Per usual for a Monday morning, M&A activity is making headlines. Cerberus Capital Mgmt is paying $7.41 bln for an 80% stake in DCX's Chrysler unit, while MYL has agreed to acquire Merck KGaA's generic drug division for $6.7 bln. Bloomberg also reported family members are weighing a sale of their controlling stake in F.
Gapping up on strong earnings/guidance: AEY +17.4%, PETS +16.6%, JCDA +12.8%, SMTX +12.1%, XFN +10.2%, CSIQ +7.7%, XNN +6.7%... NOK +2.9% raises guidance, up in sympathy: RFMD +2.8% and TXN +0.4%... M&A: VAS +36.3% (to be acquired by Cardinal Health for $42.75/share), INFT +27.2% (to be acquired by Business & Decision for $4.25/share), PRM +20.5% & SORC +6.6% (SORC to acquire PRM's Enthusiast Media segment), EAGL +6.3% (announces increase in offers from both CEVA and group led by EAGL CEO Jim Crane), DCX +3.8% (Cerberus takes over majority interest in Chrysler Group and related financial services business for $7.4 bln)... Other news: CRTX +28.5% (FDA approves DEY's New Drug Application for Perforomist Inhalation Solution), LJPC +13.0% (initiated with a Buy at Needham), BDSI +11.6% (announces BEMA Fentanyl Phase III data demonstrates statistical significance), ONT +10.9% (follow-though momentum), SILC +10.4% (announces design win from "one of the world's largest telecoms equipment manufacturers"), GERN +7.6% (positive article in TheStreet.com), DNDN +7.2% (short-squeeze), ACH +4.6% (follow-through momentum; also up in sympathy after Telegraph reports that rival mining groups are drawing up plans to gatecrash Alcoa's hostile bid for Alcan), ALTI +4.6% (follow-through momentum), SIF +4.5% (follow-though momentum after Friday's earnings-related surge), MEND +4.4% (Cramer positive on stock), GNVC +4.3% (added to Nasdaq Biotechnology Index), FRPT +3.4% (Cramer positive on stock; also mentioned in WSJ article "Armored-vehicle builders compete for bigger payday).
Sunday, May 13, 2007
May 11th - Friday - Gapping up / down
Gapping down on weak earnings/guidance: MAMA -15.5%, BRLC -13.6%, BSQR 12.0%, MOVI -11.2%, FL -10.4%, PRXI -9.3%, MED -8.7%, DNDN -7.8%, THQI -4.7%, GRS -4.5%... Other news: AMGN -3.9% (continued weakness with multiple broker downgrades following yesterday's ODAC panel recommendations), JAV -1.8% (prices 7.1 mln share offering at $6/share).
Futures indicate a higher open for the mkt as the closely-watched core PPI was unchanged in April vs. consensus expectations of 0.2%. That pushes the yr/yr rate to 1.5% and provides more evidence that inflation pressures have abated somewhat. However, Apr Retail Sales unexpectedly fell 0.2% (consensus 0.4%), while the more closely-watched sales, ex-autos, was unchanged (consensus 0.5%), echoing yesterday's concerns about the health of the consumer.
Notable pre-market Calls include Upgrades: AMAT at UBS, ALU at Credit Suisse, NVDA at Needham; Downgrades: AMGN at Citi, JP Morgan, HSBC and Lazard, ISE at BofA, WEN at Citi... On the Earnings calendar, no cos are confirmed to report after the close. On the Economic calendar, Mar Business Inventories (consensus 0.2%) will be released at 10:00ET.
Gapping up on strong earnings/guidance: SYNM +17.9%, UEPS +9.1%, PRTS (also upgraded at RBC), VOLV +6.5%, NVDA +5.7% (also upgraded at Needham), ALU +3.0% (also upgraded at Credit Suisse)... CME raises their bid for BOT: CME +6.8%, BOT +1.9%, ICE +0.8%... Other news: KBH +5.2% (received a bid for its French subsidiary Kaufman & Broad), ALTI +4.4% (upgraded to Buy at First Albany).
Futures indicate a higher open for the mkt as the closely-watched core PPI was unchanged in April vs. consensus expectations of 0.2%. That pushes the yr/yr rate to 1.5% and provides more evidence that inflation pressures have abated somewhat. However, Apr Retail Sales unexpectedly fell 0.2% (consensus 0.4%), while the more closely-watched sales, ex-autos, was unchanged (consensus 0.5%), echoing yesterday's concerns about the health of the consumer.
Notable pre-market Calls include Upgrades: AMAT at UBS, ALU at Credit Suisse, NVDA at Needham; Downgrades: AMGN at Citi, JP Morgan, HSBC and Lazard, ISE at BofA, WEN at Citi... On the Earnings calendar, no cos are confirmed to report after the close. On the Economic calendar, Mar Business Inventories (consensus 0.2%) will be released at 10:00ET.
Gapping up on strong earnings/guidance: SYNM +17.9%, UEPS +9.1%, PRTS (also upgraded at RBC), VOLV +6.5%, NVDA +5.7% (also upgraded at Needham), ALU +3.0% (also upgraded at Credit Suisse)... CME raises their bid for BOT: CME +6.8%, BOT +1.9%, ICE +0.8%... Other news: KBH +5.2% (received a bid for its French subsidiary Kaufman & Broad), ALTI +4.4% (upgraded to Buy at First Albany).
May 10th - Thursday - Gapping up / down
Gapping down on weak earnings/guidance: IFON -20.2%, KNOT -16.9% (also downgraded to Sector Perform at CIBC), WFMI -12.0%, CRUS -9.5%, CRYP -9.2%, JACO -8.8%, WNG -8.7%, MEK -7.2%, EGY -6.9%, SIX -4.5%, PGS -4.5%, RMIX -4.4%... Retailers trading down on weak comps: ZUMZ -5.6%, URBN 5.5%, KIRK -4.6%, BEBE -4.5%, CHS -4.0%, PSUN -3.1%, GPS -2.3%, BONT -1.3%... Other news: DNDN -7.9% (downgraded to Sell at BofA; tgt cut to $4), RTP -5.7% & BHP -2.7% (UBS says RTP/BHP merger not illogical, not impossible, but unlikely), FNSR -4.5% (profit-taking after yesterday's move), BPHX -4.4% (names new CFO).
Gapping up on strong earnings/guidance: HSOA +20.0%, TOA +14.9%, PEIX +14.7% (also upgraded to Hold at Hambrecht), MRGE +12.1% (also announces Fusion aXigate order in France), SCI +11.5%, NKTR +10.7% (also upgraded to Equal-Weight at Morgan Stanley), BNE +6.75, MAIL +5.6%, CLAY +5.3%, HLS +5.2%, KG +4.6%, LOCM +3.5% (very light volume), BVF +3.3%, CNTY +3.3%, DK +2.9%, TFSM +1.8% (reports & confirms it is assessing strategic alternatives; also downgraded to Hold at Jefferies)... Retailers trading up on strong comps: JOSB +5.7%, ARO +1.8%, COST +1.8%... Other news: TRU +20.9% (commences cash tender offer for all units of beneficial interest of Torch Energy Royalty Trust), ENTG +11.3% (commences "Dutch auction" tender to purchase up to 20.4 mln shares between $11-12.25), CEA +10.6% & ZNH +3.1% (Air France to add routes throughout China; also CEA and Singapore Air in final talks on stake), SPAR +9.4% (subsidiary receives $107.6 mln in new Orders in Military Vehicles), GGC +4.8% (upgraded to Buy at Citi), CBI +4.1% (Cramer positive on stock), ONT +3.5% (announces agreement with C2 Microsystems), FWLT +1.6% (tgt raised to $129 at Stifel).
Futures indicate a lower open for stocks. The bulk of April same-store sales figures (ANF, ANN, ARO, DDS, FD, GPS, JCP, WMT) checked in below expectations, raising concerns about the health of the consumer and giving investors an excuse to take some money off the table. In economic news, weekly Initial Claims unexpectedly fell 9K to 297K (consensus 315K), but the Mar Trade Deficit widened a larger than expected $63.9 bln (consensus $60.0 bln) and Apr Import Prices surged a larger than expected 1.3% in Apr, stirring inflation concerns.
Notable pre-market Calls include Upgrades: MA at Stifel Nicolaus, PEIX at WR Hambrecht; Downgrades: TFSM at Jefferies, DNDN at BofA, RSH at Credit Suisse, WFMI at HSBC, RTP at BMO Capital... On the Earnings calendar, SYNM is confirmed to report sometime during trading hours. After the close, 33 cos are confirmed to report including NVDA... On the Economic calendar, the Apr Treasury Budget (consensus $143.0 bln) will be released at 14:00ET.
Gapping up on strong earnings/guidance: HSOA +20.0%, TOA +14.9%, PEIX +14.7% (also upgraded to Hold at Hambrecht), MRGE +12.1% (also announces Fusion aXigate order in France), SCI +11.5%, NKTR +10.7% (also upgraded to Equal-Weight at Morgan Stanley), BNE +6.75, MAIL +5.6%, CLAY +5.3%, HLS +5.2%, KG +4.6%, LOCM +3.5% (very light volume), BVF +3.3%, CNTY +3.3%, DK +2.9%, TFSM +1.8% (reports & confirms it is assessing strategic alternatives; also downgraded to Hold at Jefferies)... Retailers trading up on strong comps: JOSB +5.7%, ARO +1.8%, COST +1.8%... Other news: TRU +20.9% (commences cash tender offer for all units of beneficial interest of Torch Energy Royalty Trust), ENTG +11.3% (commences "Dutch auction" tender to purchase up to 20.4 mln shares between $11-12.25), CEA +10.6% & ZNH +3.1% (Air France to add routes throughout China; also CEA and Singapore Air in final talks on stake), SPAR +9.4% (subsidiary receives $107.6 mln in new Orders in Military Vehicles), GGC +4.8% (upgraded to Buy at Citi), CBI +4.1% (Cramer positive on stock), ONT +3.5% (announces agreement with C2 Microsystems), FWLT +1.6% (tgt raised to $129 at Stifel).
Futures indicate a lower open for stocks. The bulk of April same-store sales figures (ANF, ANN, ARO, DDS, FD, GPS, JCP, WMT) checked in below expectations, raising concerns about the health of the consumer and giving investors an excuse to take some money off the table. In economic news, weekly Initial Claims unexpectedly fell 9K to 297K (consensus 315K), but the Mar Trade Deficit widened a larger than expected $63.9 bln (consensus $60.0 bln) and Apr Import Prices surged a larger than expected 1.3% in Apr, stirring inflation concerns.
Notable pre-market Calls include Upgrades: MA at Stifel Nicolaus, PEIX at WR Hambrecht; Downgrades: TFSM at Jefferies, DNDN at BofA, RSH at Credit Suisse, WFMI at HSBC, RTP at BMO Capital... On the Earnings calendar, SYNM is confirmed to report sometime during trading hours. After the close, 33 cos are confirmed to report including NVDA... On the Economic calendar, the Apr Treasury Budget (consensus $143.0 bln) will be released at 14:00ET.
May 9th - Wednesday - Gapping up / down
Gapping down on weak earnings/guidance: EMAG -12.1%, AVNR -10.8%, FACE -10.0%, CCRT -8.9% (also downgraded to Underperform at Wachovia), HOKU -8.3%, NWS -8.1%, MDRX -7.6% (also downgraded to Hold at BB&T), LCAV -6.6%, GNVC -6.5%, FNSR -5.3%, FTO -5.2%, CSCO -4.7% (also downgraded to Sector Perform at Pacific Crest), AVII -4.5%, CLHB -4.0%... Other news: DNDN +56.7% (receives Complete Response Letter from FDA for Provenge BLA; FDA requests additional data... Down in sympathy: AGEN -11.2%, CEGE -11.2%, GTOP -6.7%, NUVO -5.8%), OPBL.OB -28.7% (BMO suspends ties with Optionable - Reuters), SOMX -10.1% (receives correspondence from the FDA; request may result in the co delaying its initial NDA submission until the first quarter of 2008), HNSN -4.1% (Cramer bearish on stock).
Futures indicate a lower open for stocks ahead of today's FOMC policy statement. Rates are widely expected to remain unchanged at 5.25%, but the wording of the directive will be closely watched for hints pertaining to the course of monetary policy. This morning's biggest mover is DNDN, who is trading down over 50% after receiving an "approvable letter" from the FDA that requested additional clinical data. In M&A news, the WSJ reported private equity groups have formed to chase AT, while RTP is trading up 6% this morning despite denying bid talk with BHP. On the earnings front, CSCO is trading down 5% this morning after issuing only inline Q4 rev guidance, despite beating on the top and bottom lines.
Notable pre-market Calls include Upgrades: RACK at First Albany, AL at Prudential, JNY and BEBE at Morgan Keegan; Downgrades: FLIR at JP Morgan, BOBJ at BMO Capital... On the Earnings calendar, 47 cos are confirmed to report, though none are expected to be market-moving releases. On the Economic calendar, as mentioned above, the Fed will release its potentially market-moving policy statement at 14:15ET.
Gapping up on strong earnings/guidance: TRT +19.9%, PED +12.7%, MVSN +12.2% (also upgraded to Buy at Jefferies), B +10.1%, FWLT +9.0%, MFLX +8.7% (very light volume), MMS +5.6%, FTGX +5.1%, MFB +4.0%, KNXA +3.9% (also upgraded to Buy at Needham), TRLG +3.8%, NRGY +3.7%, ORA +3.7%, BRL +1.8%... M&A: RTP +5.9% (RTP soars on BHP bid talk; denies approach - Reuters), FLA +6.0% (discloses additional details of Fortress acquisition offer; very light volume)... Other news: NCI +9.2% (commences modified Dutch Auction tender offer to purchase up to 10.5 mln shares at $19.50-$22.50/share), ASTI +6.7% (wins high efficiency solar cell program), ISIS +6.5% (announces cardiovascular disease collaboration with Bristol-Myers), PAL +5.9% (Cramer positive on stock), ONT +4.9% (to unveil Flix Publisher Live at Streaming Media East), ANAD +4.4% (supplies 3G power amplifiers for LG Electronics' VX9400 TV-capable phone), DAL +3.7% (hearing initiated with a buy at tier-1 firm), COGT +3.4% (says Court affirms co's right requiring return of technology improperly used by Northrop Grumman), JRCC +1.0% (follow-through momentum after yesterday's earnings report), SMCI +3.6% (initiated with a Buy at Merrill).
IBM gapping up on a Goldman upgrade to buy from neutral.
Futures indicate a lower open for stocks ahead of today's FOMC policy statement. Rates are widely expected to remain unchanged at 5.25%, but the wording of the directive will be closely watched for hints pertaining to the course of monetary policy. This morning's biggest mover is DNDN, who is trading down over 50% after receiving an "approvable letter" from the FDA that requested additional clinical data. In M&A news, the WSJ reported private equity groups have formed to chase AT, while RTP is trading up 6% this morning despite denying bid talk with BHP. On the earnings front, CSCO is trading down 5% this morning after issuing only inline Q4 rev guidance, despite beating on the top and bottom lines.
Notable pre-market Calls include Upgrades: RACK at First Albany, AL at Prudential, JNY and BEBE at Morgan Keegan; Downgrades: FLIR at JP Morgan, BOBJ at BMO Capital... On the Earnings calendar, 47 cos are confirmed to report, though none are expected to be market-moving releases. On the Economic calendar, as mentioned above, the Fed will release its potentially market-moving policy statement at 14:15ET.
Gapping up on strong earnings/guidance: TRT +19.9%, PED +12.7%, MVSN +12.2% (also upgraded to Buy at Jefferies), B +10.1%, FWLT +9.0%, MFLX +8.7% (very light volume), MMS +5.6%, FTGX +5.1%, MFB +4.0%, KNXA +3.9% (also upgraded to Buy at Needham), TRLG +3.8%, NRGY +3.7%, ORA +3.7%, BRL +1.8%... M&A: RTP +5.9% (RTP soars on BHP bid talk; denies approach - Reuters), FLA +6.0% (discloses additional details of Fortress acquisition offer; very light volume)... Other news: NCI +9.2% (commences modified Dutch Auction tender offer to purchase up to 10.5 mln shares at $19.50-$22.50/share), ASTI +6.7% (wins high efficiency solar cell program), ISIS +6.5% (announces cardiovascular disease collaboration with Bristol-Myers), PAL +5.9% (Cramer positive on stock), ONT +4.9% (to unveil Flix Publisher Live at Streaming Media East), ANAD +4.4% (supplies 3G power amplifiers for LG Electronics' VX9400 TV-capable phone), DAL +3.7% (hearing initiated with a buy at tier-1 firm), COGT +3.4% (says Court affirms co's right requiring return of technology improperly used by Northrop Grumman), JRCC +1.0% (follow-through momentum after yesterday's earnings report), SMCI +3.6% (initiated with a Buy at Merrill).
IBM gapping up on a Goldman upgrade to buy from neutral.
May 8th - Tuesday - Gapping up/down
Gapping down on weak earnings/guidance: CUTR -22.9% (also downgraded to Neutral at Merriman), UFPT -17.2%, MSTR -14.7%, DJO -12.2%, NUHC -11.9%, HLYS -9.6%, FTEK -9.4%, WTI -7.4%, PWAV -7.0%, ORCT -6.7%, LAZ -6.3%, BRNC -5.3%, NSTK -5.3%, WCI -4.5%... Other news: IDMI -17.2% (continues to sell off following yesterday's FDA news), DNDN -4.2% (hearing UBS and Stanford out with cautious comments), AAUK -4.2% (down in London trading as mining stocks decline).
Futures indicate a lower open for stocks. While there aren't any specific news items to account for the negative disposition, it's not surprising to see investors take profits following gains in 24 of the last 27 sessions. M&A activity has continued today, however, as MT is reportedly set to bid $40/sh for AKS. MOT is trading down 2% this morning as Carl Icahn failed to win a seat on its Board.
Notable pre-market Calls include Upgrades: LVS at Stifel Nicolaus, AA at RBC Capital... On the Earnings calendar, SAM and SNHY are confirmed to report earnings sometime during trading hours. After the close, 57 cos are confirmed to report including CSCO and ERTS... On the Economic calendar, Mar Wholesale Inventories (consensus 0.4%) will be released at 10:00ET.
Gapping up on strong earnings/guidance: ATRO +20.5%, ECGI +16.2%, LIOX +11.3%, MDR +10.5%, AQNT +9.9%, WRNC +7.8%, NILE +7.7%, HAYN +7.7%, WCG +6.9%, AFSI +6.0%, ADAM +5.6%, PKD +5.1% (also awarded contracts in Mexico and Turkmenistan), VOLC +5.1%, XRIT +4.9% (very light volume), GMXR +4.9% (very light volume), AMOT +4.4% (very light volume), WOLF +4.3% (very light volume), AOB +4.2%, SONS +3.4%, PLA +3.0%... M&A: AKS +19.0% (Arcelor Mittal to bid for AKS - FT)... Other news: TRIS +24.3% (awarded $30 mln contract to provide security services in Washington state), ISPH +9.6% (announces positive results of Phase 2 trial of epinastine nasal spray for seasonal allergic rhinitis), MRGE +6.0% (initiated with a Buy at Jefferies), ASTM +7.6% (FDA approves Phase III IND for treatment of osteonecrosis of the femoral head; also reports... other stem cell stocks up in sympathy: STEM +4.2%, GERN +0.7%), RACK +3.0% (settles patent litigation), COMS +3.3% (Citadel discloses 8.4% stake).
Interesting note out from UBS analyst re DNDN: UBS raises their tgt on DNDN to $9 from $3. Firm continues to find Provenge BLA risky, with full approval on May 15 unlikely.
Futures indicate a lower open for stocks. While there aren't any specific news items to account for the negative disposition, it's not surprising to see investors take profits following gains in 24 of the last 27 sessions. M&A activity has continued today, however, as MT is reportedly set to bid $40/sh for AKS. MOT is trading down 2% this morning as Carl Icahn failed to win a seat on its Board.
Notable pre-market Calls include Upgrades: LVS at Stifel Nicolaus, AA at RBC Capital... On the Earnings calendar, SAM and SNHY are confirmed to report earnings sometime during trading hours. After the close, 57 cos are confirmed to report including CSCO and ERTS... On the Economic calendar, Mar Wholesale Inventories (consensus 0.4%) will be released at 10:00ET.
Gapping up on strong earnings/guidance: ATRO +20.5%, ECGI +16.2%, LIOX +11.3%, MDR +10.5%, AQNT +9.9%, WRNC +7.8%, NILE +7.7%, HAYN +7.7%, WCG +6.9%, AFSI +6.0%, ADAM +5.6%, PKD +5.1% (also awarded contracts in Mexico and Turkmenistan), VOLC +5.1%, XRIT +4.9% (very light volume), GMXR +4.9% (very light volume), AMOT +4.4% (very light volume), WOLF +4.3% (very light volume), AOB +4.2%, SONS +3.4%, PLA +3.0%... M&A: AKS +19.0% (Arcelor Mittal to bid for AKS - FT)... Other news: TRIS +24.3% (awarded $30 mln contract to provide security services in Washington state), ISPH +9.6% (announces positive results of Phase 2 trial of epinastine nasal spray for seasonal allergic rhinitis), MRGE +6.0% (initiated with a Buy at Jefferies), ASTM +7.6% (FDA approves Phase III IND for treatment of osteonecrosis of the femoral head; also reports... other stem cell stocks up in sympathy: STEM +4.2%, GERN +0.7%), RACK +3.0% (settles patent litigation), COMS +3.3% (Citadel discloses 8.4% stake).
Interesting note out from UBS analyst re DNDN: UBS raises their tgt on DNDN to $9 from $3. Firm continues to find Provenge BLA risky, with full approval on May 15 unlikely.
May 7th - Monday - Gapping up/down
Gapping down on weak earnings/guidance: HANS -9.0%, IIG -6.1%, CCOI -5.1%, GROW -4.0%, PTNR -2.6%, TS -2.0%... Other news: MDII -10.9% (completes $4 mln private placement of common stock).
Futures indicate a mixed start for stocks despite another round of healthy Monday-morning M&A activity. AA offered to acquire AL for approx $73.25/sh in cash and stock, while AH announced it will be acquired by BAE Systems for $88/sh in cash.
Notable pre-market Calls include Upgrades: UAUA at Credit Suisse, DRI at Bear Stearns, CX at Deutsche Bank; Downgrades: MSFT at Davenport, AMZN at Matrix, RIG at AG Edwards... On the Earnings calendar, BID is confirmed to report sometime during trading hours. After the close, 48 cos are confirmed to report including WYNN... On the Economic calendar, Mar Consumer Credit (consensus $4.5 bln) will be released at 15:00ET.
Gapping up on M&A: AL +25.7% (AA offered to acquire AL for $73.25 per share in cash and stock) -- Other metal stocks up in sympathy: ATI +9.4%, ERS +7.1%, CENX +7.0%, ACH +4.7, AKS +2.5%, MT +1.9%... AH +4.5% (confirms merger agreement to be acquired by BAE Systems plc for $88.00 per share in cash)... Stem cell stocks mentioned positively in Barron's: STEM +8.4%... Other news: GSS +7.6% (positive Cramer mention), ZVUE +6.7% (selected as internet/mobile marketing and promotional partner for Ckrush Entertainment's "LiveMansion: The Movie"), DNDN +6.7% (continued volatility ahead of FDA decision on Provenge), MRVL +5.6% (completes independent review of stock option practices), TASR +5.0% (Sarkozy wins French election, Merriman comments on news), NOVL +4.6% (Reuters reports that Dell joins Microsoft, NOVL in Linux pact).
Futures indicate a mixed start for stocks despite another round of healthy Monday-morning M&A activity. AA offered to acquire AL for approx $73.25/sh in cash and stock, while AH announced it will be acquired by BAE Systems for $88/sh in cash.
Notable pre-market Calls include Upgrades: UAUA at Credit Suisse, DRI at Bear Stearns, CX at Deutsche Bank; Downgrades: MSFT at Davenport, AMZN at Matrix, RIG at AG Edwards... On the Earnings calendar, BID is confirmed to report sometime during trading hours. After the close, 48 cos are confirmed to report including WYNN... On the Economic calendar, Mar Consumer Credit (consensus $4.5 bln) will be released at 15:00ET.
Gapping up on M&A: AL +25.7% (AA offered to acquire AL for $73.25 per share in cash and stock) -- Other metal stocks up in sympathy: ATI +9.4%, ERS +7.1%, CENX +7.0%, ACH +4.7, AKS +2.5%, MT +1.9%... AH +4.5% (confirms merger agreement to be acquired by BAE Systems plc for $88.00 per share in cash)... Stem cell stocks mentioned positively in Barron's: STEM +8.4%... Other news: GSS +7.6% (positive Cramer mention), ZVUE +6.7% (selected as internet/mobile marketing and promotional partner for Ckrush Entertainment's "LiveMansion: The Movie"), DNDN +6.7% (continued volatility ahead of FDA decision on Provenge), MRVL +5.6% (completes independent review of stock option practices), TASR +5.0% (Sarkozy wins French election, Merriman comments on news), NOVL +4.6% (Reuters reports that Dell joins Microsoft, NOVL in Linux pact).
Sunday, May 6, 2007
May 4th Gapping up / down
Gapping down on weak earnings/guidance: TCHC -42.5%, CRAY -16.5% (also downgraded to Mkt Perform at Northland Securities), BBND -12.8%, HTRN -12.2%, JSDA -9.6% (also upgraded to Accumulate at ThinkEquity), HPOL -8.9%, ANR -7.0%, SWIM -6.5%, SHLD -5.1%, SIMG -5.0%, EK -4.9%, NXG -4.8%, QLGC -4.7% (also downgraded to Mkt Perform at FBR), BGFV -4.1%, EDS -3.7%, THI -3.1%... Other news: ISTA -27.1% (receives Not Approvable Letter from FDA relating to its NDA for T-Pred), TFSM -7.8% (downgraded to Buy at Matrix), SILC -7.5% (announces $17.9 mln private placement), GBBK -4.4% (to be acquired by Wells Fargo in an apparent take-under), GLBL -3.6% (downgraded to Hold at Jefferies).
Futures indicate a higher open for stocks as the NY Post reported MSFT has approached YHOO again about entering formal negotiations. In addition, RTRSY confirmed it has received a takeover approach from a third party, which follows NWS.A's acquisition proposal of DJ on Wednesday. Today's employment data was neutral as Apr Nonfarm Payrolls checked in up 88K (consensus 100K), the Unemployment Rate (4.5% vs. consensus 4.5%) and the Avg Workweek (33.8 vs. consensus 33.8) met and Hourly Earnings came in slightly below expectations (0.2% vs. consensus 0.3%).
Notable pre-market Calls include Upgrades: UL at Citi, RDS.A at Bear Stearns, ANDW at Needham, CROX at Wedbush; Downgrades: BIIB at RBC Capital, NVO at Bear Stearns... On the Earnings calendar, TS is the only co confirmed to report after the close. On the Economic calendar, nothing remains on the schedule for today.
Gapping up on strong earnings/guidance: CROX +19.1% (reports also 2-for-1 stock split), ONT +16.1%, ZOLT +10.1%, BLKB +9.9% (also upgraded to Hold at Citigroup), PCLN +8.5%, INAP +8.2% (also upgraded to Outperform at CIBC), MOBE +7.5%, FSLR +6.9% (up in sympathy TSL +3.9% & SOLF +3.1%), ALY +5.6%... M&A: RTRSY +25.4% (Reuters shares soar after group confirms bid approach - WSJ), YHOO +15.8% (Microsoft has intensified its pursuit of deal with YHOO - NY Post... up in sympathy CNET +4.9% & MAMA +4.1%), EASY +10.7% (to be acquired by Internet Commerce Corp for $5.80/share), WON +7.7% (WON has tapped investment bank UBS to identify potential buyers - NY Post)... Other news: NFI +11.5% (discloses commitment for a $1.9 bln comprehensive financing facility), OSUR +6.7% (initiated with a Buy at Lazard), THOR +6.3% (receives FDA approval of continued access protocol for bridge ARM of its HeartMate II pivotal trial), XFN +6.2% (follow-through momentum after yesterday's breakout; also profiled in Briefing Trader), PTR +5.4% (PetroChina up on oil find - FT), MDII +5.3% (momentum), DNDN +4.7% (momentum), LEND +4.4% (profiled in BusinessWeek), IDEV +3.5% (announces FDA approval of Supprelin-LA), BOBJ +3.2% (announces final terms of convertible bond issue), IDMI +1.7% (appoints Robert De Vaere as Senior VP & CFO).
Futures indicate a higher open for stocks as the NY Post reported MSFT has approached YHOO again about entering formal negotiations. In addition, RTRSY confirmed it has received a takeover approach from a third party, which follows NWS.A's acquisition proposal of DJ on Wednesday. Today's employment data was neutral as Apr Nonfarm Payrolls checked in up 88K (consensus 100K), the Unemployment Rate (4.5% vs. consensus 4.5%) and the Avg Workweek (33.8 vs. consensus 33.8) met and Hourly Earnings came in slightly below expectations (0.2% vs. consensus 0.3%).
Notable pre-market Calls include Upgrades: UL at Citi, RDS.A at Bear Stearns, ANDW at Needham, CROX at Wedbush; Downgrades: BIIB at RBC Capital, NVO at Bear Stearns... On the Earnings calendar, TS is the only co confirmed to report after the close. On the Economic calendar, nothing remains on the schedule for today.
Gapping up on strong earnings/guidance: CROX +19.1% (reports also 2-for-1 stock split), ONT +16.1%, ZOLT +10.1%, BLKB +9.9% (also upgraded to Hold at Citigroup), PCLN +8.5%, INAP +8.2% (also upgraded to Outperform at CIBC), MOBE +7.5%, FSLR +6.9% (up in sympathy TSL +3.9% & SOLF +3.1%), ALY +5.6%... M&A: RTRSY +25.4% (Reuters shares soar after group confirms bid approach - WSJ), YHOO +15.8% (Microsoft has intensified its pursuit of deal with YHOO - NY Post... up in sympathy CNET +4.9% & MAMA +4.1%), EASY +10.7% (to be acquired by Internet Commerce Corp for $5.80/share), WON +7.7% (WON has tapped investment bank UBS to identify potential buyers - NY Post)... Other news: NFI +11.5% (discloses commitment for a $1.9 bln comprehensive financing facility), OSUR +6.7% (initiated with a Buy at Lazard), THOR +6.3% (receives FDA approval of continued access protocol for bridge ARM of its HeartMate II pivotal trial), XFN +6.2% (follow-through momentum after yesterday's breakout; also profiled in Briefing Trader), PTR +5.4% (PetroChina up on oil find - FT), MDII +5.3% (momentum), DNDN +4.7% (momentum), LEND +4.4% (profiled in BusinessWeek), IDEV +3.5% (announces FDA approval of Supprelin-LA), BOBJ +3.2% (announces final terms of convertible bond issue), IDMI +1.7% (appoints Robert De Vaere as Senior VP & CFO).
Thursday, May 3, 2007
May 3rd Gapping Up/Down
Gapping up on strong earnings/guidance: NVEC +15.6%, SMDI +15.5% (also upgraded to Outperform at CIBC), CHTR +10.1%, SUNH +9.2%, ICOC +9.0% (very light volume), KOP +8.8%, OMG +8.0%, RNWK +7.8% (also upgraded to Buy at ThinkEquity), SYMC +7.3% (also multiple upgrades), GFIG +6.5% (also tgt raised to $80 at Jefferies), GNA +6.5%, BBBB +6.0%, ARQL +4.9%... Biotechs gapping up on news: QMED +22.0% (Perlane approved for sales in the USA, also reports March EPS), BSM +21.6% (study concludes that hyperthermia added to radiation improved complete response, local relapse-free survival and overall survival), HNSN +19.7% (receives FDA clearance for commercialization of its robotic platform for catheter mapping procedures), BUF +17.8% (announces FDA approval of Sojourn Sevoflurane; also tgt upped to $10 at Hambrecht), EPCT +17.5% (to present new NP-1 data at American Pain Society meeting), YMI +16.2% (reports AeroLEF randomized phase IIb trial meets primary endpoint in patients with post-surgical pain), NVAX +6.7% (reports positive pre-clinical study results from live virus challenge to pandemic flu vaccine), AVNR +5.6% (presents data on long-term safety of Zenvia and prevalence of IEED)... M&A: IPS +6.1% (SSAB to acquire IPS for $160/share, according to Dow Jones... up in sympathy AKS +4.1%, X +1.4%, NUE +1.4%)... Other news: MRX +8.8% (Perlane approval should help relieve pressure on MRX - Jefferies), SOFO +8.5% (clarifies guidance after yesterday's earnings report), EFUT +7.9% (inks systems integrator agreement with JDA Software), FRPT 5.7% (momentum), TSYS +1.8% (late in session yesterday Fed Biz Ops website reports that TSYS was awarded $90 mln contract).
Gapping Up: EPCT +23.3%, QMED +23.2%, NVEC +18.1%, YMI +17.3%, BUF +16.9%, SMDI +14.1%, MRX +11.1%, TSYS +10.2%, ALAN +9.7%, RNWK +8.0%, SLW +7.3%, SYMC +6.8%, EFUT +5.6%, CEGE +5.4%... Gapping Down: TLB -9.7%, SMSI -9.5%, JDSU -9.3%, INCY -8.9%, ANDE -8.8%, CELG -6.8%, APKT -5.8%, TSO -5.7%, UBS -5.6%, LVS -5.4%, SUN -5.4%, WYNN -3.2%, AGU -2.8%, AHO -2.6%, RIGL -2.6%.
Gapping Up: EPCT +23.3%, QMED +23.2%, NVEC +18.1%, YMI +17.3%, BUF +16.9%, SMDI +14.1%, MRX +11.1%, TSYS +10.2%, ALAN +9.7%, RNWK +8.0%, SLW +7.3%, SYMC +6.8%, EFUT +5.6%, CEGE +5.4%... Gapping Down: TLB -9.7%, SMSI -9.5%, JDSU -9.3%, INCY -8.9%, ANDE -8.8%, CELG -6.8%, APKT -5.8%, TSO -5.7%, UBS -5.6%, LVS -5.4%, SUN -5.4%, WYNN -3.2%, AGU -2.8%, AHO -2.6%, RIGL -2.6%.
Wednesday, May 2, 2007
May 2nd Gapping Up/Down
Gapping down on weak earnings/guidance: SOFO -22.7%, HSTX -20.6% (also downgraded to Neutral at Merriman), CBAK -16.7% (announces restructuring, guides Q2 below consensus), DIVX -12.9%, SNTS -11.6%, SOHU -9.9%, FORD -7.5%, SUMT -7.5%, BBI -6.8%, NLC -6.7% (also downgraded to Hold at Citi), ACAS -6.0%, WBMD -5.8% (very light volume), JNY 5.8% (very light volume), EPIC 5.8%(announces $200 mln convertible notes offering), RUTH -4.7%, GMR -4.7%, ENZN -4.3%, GRMN -4.2%, NWRE -4.1%, CKSW -4.0%... Other news: CGPI -18.7% (suspends enrollment of new patients in incyclinide study; also reports), PCOP -6.8% (prices 7 mln share offering at $5/share), IMMU -6.5% (to raise $24 mln in common stock offering priced at $4.95/share).
Futures indicate a slightly higher open for stocks. The monthly ADP employment report showed that an estimated 64K new private jobs, or roughly 90K nonfarm jobs, were created in April. Economists expect Friday's more closely-watched April nonfarm payrolls figure to check in around 100K. M&A news has continued following yesterday's NWS bid for DJ as there are reports out this morning that the Dolan family is close to taking CVC private. This morning's biggest earnings report comes from TWX, who is trading slightly higher after beating, but also lowering FY07 EPS guidance.
Notable pre-market Calls include Upgrades: CME at BofA, Q at Credit Suisse, WPI at UBS, CMG at Morgan Keegan; Downgrades: DJ at Wachovia, LIZ at UBS, CEPH at First Albany... On the Earnings calendar, 84 cos are confirmed to report after the close. On the Economic calendar, Mar Factory Orders (consensus 2.1%) will be released at 10:00ET.
Gapping up on strong earnings/guidance: VOXW +74.4% (very light volume), HRSH +21.1%, PTIE +11.8%, NT +11.1% (also names interim CFO), BWLD +9.5% (also upgraded to Outperform at Morgan Keegan), CTB +8.6%, ININ +8.2% (also upgraded to Outperform at Morgan Keegan), CBG +8.0%, OSCI +8.0% (also FDA approves Factive tablets for 5-day treatment of community-acquired pneumonia), UNTD +7.3%, MA +7.2%, BGC +6.9% (very light volume), IVGN +6.3% (also tgt raised to $75 at ThinkEquity), POZN +5.9% (very light volume), VPHM +5.7%, CMG +5.5% (also upgraded to Outperform at Morgan Keegan)... Other news: BCRX +9.4% (confirms yesterday's news (10:31) that St. Jude study shows effectiveness of Peramivir in prevention of mortality in mouse model of avian influenza H5N1), ADLS +7.4% (cethromycin shown effective against anthrax in study), PRLS +5.7% (Pembridge Capital announces proxy contest for PRLS), ADBL +5.4% (upgraded to Buy at Citi).
Futures indicate a slightly higher open for stocks. The monthly ADP employment report showed that an estimated 64K new private jobs, or roughly 90K nonfarm jobs, were created in April. Economists expect Friday's more closely-watched April nonfarm payrolls figure to check in around 100K. M&A news has continued following yesterday's NWS bid for DJ as there are reports out this morning that the Dolan family is close to taking CVC private. This morning's biggest earnings report comes from TWX, who is trading slightly higher after beating, but also lowering FY07 EPS guidance.
Notable pre-market Calls include Upgrades: CME at BofA, Q at Credit Suisse, WPI at UBS, CMG at Morgan Keegan; Downgrades: DJ at Wachovia, LIZ at UBS, CEPH at First Albany... On the Earnings calendar, 84 cos are confirmed to report after the close. On the Economic calendar, Mar Factory Orders (consensus 2.1%) will be released at 10:00ET.
Gapping up on strong earnings/guidance: VOXW +74.4% (very light volume), HRSH +21.1%, PTIE +11.8%, NT +11.1% (also names interim CFO), BWLD +9.5% (also upgraded to Outperform at Morgan Keegan), CTB +8.6%, ININ +8.2% (also upgraded to Outperform at Morgan Keegan), CBG +8.0%, OSCI +8.0% (also FDA approves Factive tablets for 5-day treatment of community-acquired pneumonia), UNTD +7.3%, MA +7.2%, BGC +6.9% (very light volume), IVGN +6.3% (also tgt raised to $75 at ThinkEquity), POZN +5.9% (very light volume), VPHM +5.7%, CMG +5.5% (also upgraded to Outperform at Morgan Keegan)... Other news: BCRX +9.4% (confirms yesterday's news (10:31) that St. Jude study shows effectiveness of Peramivir in prevention of mortality in mouse model of avian influenza H5N1), ADLS +7.4% (cethromycin shown effective against anthrax in study), PRLS +5.7% (Pembridge Capital announces proxy contest for PRLS), ADBL +5.4% (upgraded to Buy at Citi).
Tuesday, May 1, 2007
May 1st Gapping Up/Down
Gapping down on weak earnings/guidance: LIZ -19.1%, ITWO -18.3%, IVAC -13.2% (also downgraded to Sell at Maxim), CC -11.5% (also multiple downgrades), BEAS 10.4%, ROCM -8.7%, UA -7.9%, VMC -5.8%, GLT -5.0%, ADM -4.9%, RTI -4.5%, PAAS -4.3%, RIMG -4.1%, WTSLA -3.7%, FRK -3.0%, APC -2.7... Other news: ACUS -19.8% (announces Phase 3 trial results of Imagify met primary endpoints for accuracy and sensitivity, did not achieve the specificity endpoint), CADX -7.5% (intends to discuss with FDA a proposal to increase number of patients to be enrolled in Phase III trial of Omigard), AHM -5.0% (prices 4 mln share offering at $23.75), SONS -3.6% (downgraded to Equal-Weight at Lehman), JSDA -3.6% (Cramer bearish on JSDA), SPWR -3.3% (Cypress Semi sells 7.5 mln SPWR shares), CEGE -3.0% (files for $150 mln mixed shelf).
Gapping up on strong earnings/guidance: FDP +10.1%, RAIL +9.3%, CYNO +8.1%, HW +6.6%, TUES +5.7%, AVP +5.0%, WMGI +5.0% (very light volume), SPAR +5.0%, BNT +4.7%, ALXN +4.6%, HOLX +1.8%... M&A: TFSM +33.2% (MSFT has emerged as contender to buy TFSM - NY Post... up in sympathy VCLK +4.9%, AQNT +3.4%)... Other news: SVR +21.2% (upgraded to Accumulate at ThinkEquity), HEPH +12.3% (cleared by FDA to initiate Phase I clinical trial with HE3286 in treating metabolic disorders), MAMA +12.0% (enters mobile market), NTOL +9.2% (enters into joint venture for China), PGNX +7.4% (says single dose of PRO-140 significantly reduced viral load for prolonged period in HIV-infected individuals), AVNR +7.3% (momentum), ACLS +5.9% (achieves two new design wins from chipmakers in Asia), SGMS +5.1% (announces it has formed a JV with Chinese technology co Inspur), SIGM +3.5% (upgraded to Buy at Needham).
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