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).
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