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).
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