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).