Monday, June 18, 2007
June 18th - Monday - Gapping up/down
Futures indicate a higher open for stocks as 10-yr yields are trading lower this morning. While today is the third Monday in a row without any large M&A deals, there has been speculation for new deals, including BHP reportedly reconsidering a bid for AA and more details on PSO talking with GE about a joint bid for DJ. Dow futures are currently +39; Nasdaq futures are currently +3; S&P futures are currently +3.8.
Notable pre-market Calls include Downgrades: X at UBS, WDC at JP Morgan... On the Earnings calendar: ASHW and CWST are confirmed to report after the close... Today's Economic calendar is empty.
Gapping down on weak earnings/guidance: MOLX -6.4%... Other news: ENCY -49.3% (FDA issues approvable letter, says development program for Thelin did not demonstrate the evidence of effectiveness needed for approval), CDNS -4.7% (NY Times reports buyout talks between Cadence Design Systems and two private equity firms appear to have stalled over price), X -2.5% (downgraded to Reduce at UBS), NMX -1.7% (CME says they are not currently in any discussion with NYMEX regarding a merger or acquisition).
Gapping up on strong earnings/guidance: CMED +10.1%... M&A: AMK +42% (to be acquired by AVX for $24.75 per share, GCO +9.2% (to be acquired by FINL for $54.50 per share)... Other News: LXRX +24.3% (announces two agreements to finance long-term drug development strategy), VICL +14.9% (licensee AnGes MG announces positive results of Phase 3 angiogenesis trial in Japan), DDSS +8.7% (once-daily Tramadol approved for sale in Canada), ORCT +7.8% (Ma'ariv reports co is close to signing a contract worth about $40 mln with a new Japanese customer), CVTX +7.3% (positive Cramer mention), CRNT +4.5% (upgraded to Strong Buy at First Albany), STEM +4.5% (announces that Phase I clinical trial of HuCNS-SC has successfully completed enrollment), JSDA +3.4% (upgraded to Buy at ThinkEquity), ECIL (co confirms it is in discussions on possible takeover at $10/share), AA +2.6% (The Times reports BHP may consider a takeover).
Notable pre-market Calls include Downgrades: X at UBS, WDC at JP Morgan... On the Earnings calendar: ASHW and CWST are confirmed to report after the close... Today's Economic calendar is empty.
Gapping down on weak earnings/guidance: MOLX -6.4%... Other news: ENCY -49.3% (FDA issues approvable letter, says development program for Thelin did not demonstrate the evidence of effectiveness needed for approval), CDNS -4.7% (NY Times reports buyout talks between Cadence Design Systems and two private equity firms appear to have stalled over price), X -2.5% (downgraded to Reduce at UBS), NMX -1.7% (CME says they are not currently in any discussion with NYMEX regarding a merger or acquisition).
Gapping up on strong earnings/guidance: CMED +10.1%... M&A: AMK +42% (to be acquired by AVX for $24.75 per share, GCO +9.2% (to be acquired by FINL for $54.50 per share)... Other News: LXRX +24.3% (announces two agreements to finance long-term drug development strategy), VICL +14.9% (licensee AnGes MG announces positive results of Phase 3 angiogenesis trial in Japan), DDSS +8.7% (once-daily Tramadol approved for sale in Canada), ORCT +7.8% (Ma'ariv reports co is close to signing a contract worth about $40 mln with a new Japanese customer), CVTX +7.3% (positive Cramer mention), CRNT +4.5% (upgraded to Strong Buy at First Albany), STEM +4.5% (announces that Phase I clinical trial of HuCNS-SC has successfully completed enrollment), JSDA +3.4% (upgraded to Buy at ThinkEquity), ECIL (co confirms it is in discussions on possible takeover at $10/share), AA +2.6% (The Times reports BHP may consider a takeover).
Sunday, June 17, 2007
June 15th - Friday - Gapping up/down
Futures indicate another higher open for the mkt following encouraging inflation data. While May CPI rose 0.7% (consensus 0.6%), the more closely-watched core rate rose just 0.1% (consensus 0.2%). That pushed the yr/yr rate down to 2.2%, which is closer to the Fed's "comfort zone". In addition, the June NY Empire State Index rose to a surprisingly strong 25.8 (consensus 12.0) from 8.0 in May. Dow futures are currently +71; Nasdaq futures are currently +13; S&P futures are currently +8.6.
Notable pre-market Calls include Upgrades: FRE at Friedman Billings, NFLX at Soleil, TRMP at Morgan Joseph, IMA at Cowen; Initiations: DTV at Stifel Nicolaus (Buy), DISH at Stifel Nicolaus (Hold)... On the Earnings calendar, no cos are confirmed to report after the close... On the Economic calendar, preliminary Jun Michigan Sentiment (consensus 88.0) will be released at 10:00ET.
Gapping down on weak earnings/guidance: BBW -12.2%, WGO -4.1%, ADBE -0.8%... Other news: HOKU -3.2% (profit taking following yesterday's ~47% move higher), CAL -1.7% (downgraded to Neutral at tier-1 firm).
Gapping up on strong earnings/guidance: SWHC +6.6%... Other news: EPCT +28.0% (new research shows broad efficacy of EpiCept's Azixa against multiple tumor types and in drug resistant cell line), AXTI +8.1% (initiated with a Buy at First Albany), ACH +7.2% (continued momentum following yesterday's ~9% gain), NMX +6.9% (exploring a sale to NYSE, CME, people say - Bloomberg.com), EXPE + (pre-mkt strength attributed to takeover chatter), HANS +4.9% (upgraded to Buy at tier-1 firm), WOS +2.6% (co was the focus of takeover speculation in European trading - Bloomberg.com), INTC +2.1% (upgraded to Buy at Goldman - Bloomberg.com), ASML +1.9% (tgt raised over seas at Rabo Securities following restructuring), ICE +1.2% (up in sympathy with peer NMX).
Notable pre-market Calls include Upgrades: FRE at Friedman Billings, NFLX at Soleil, TRMP at Morgan Joseph, IMA at Cowen; Initiations: DTV at Stifel Nicolaus (Buy), DISH at Stifel Nicolaus (Hold)... On the Earnings calendar, no cos are confirmed to report after the close... On the Economic calendar, preliminary Jun Michigan Sentiment (consensus 88.0) will be released at 10:00ET.
Gapping down on weak earnings/guidance: BBW -12.2%, WGO -4.1%, ADBE -0.8%... Other news: HOKU -3.2% (profit taking following yesterday's ~47% move higher), CAL -1.7% (downgraded to Neutral at tier-1 firm).
Gapping up on strong earnings/guidance: SWHC +6.6%... Other news: EPCT +28.0% (new research shows broad efficacy of EpiCept's Azixa against multiple tumor types and in drug resistant cell line), AXTI +8.1% (initiated with a Buy at First Albany), ACH +7.2% (continued momentum following yesterday's ~9% gain), NMX +6.9% (exploring a sale to NYSE, CME, people say - Bloomberg.com), EXPE + (pre-mkt strength attributed to takeover chatter), HANS +4.9% (upgraded to Buy at tier-1 firm), WOS +2.6% (co was the focus of takeover speculation in European trading - Bloomberg.com), INTC +2.1% (upgraded to Buy at Goldman - Bloomberg.com), ASML +1.9% (tgt raised over seas at Rabo Securities following restructuring), ICE +1.2% (up in sympathy with peer NMX).
June 14th - Thursday - Gapping up/down
Futures indicate a slightly higher start for the mkt, after losing their slight gains following the latest read on inflation. May PPI rose 0.9% (consensus 0.6%), while the more closely-watched core rate rose 0.2% (consensus 0.2%). However, the core yr/yr rate ticked up 0.1% to 1.6%. On the Earnings front: BSC is trading lower after the co's Q2 EPS missed expectations for the first time since 2001, though it beat on revs; GS is also trading lower following Q2 earnings, despite beating on both the top and bottom line. Dow futures are currently +9; Nasdaq futures are currently +2.8; S&P futures are currently +1.3.
Notable pre-market Calls include Downgrades: SNY at HSBC and JP Morgan, DJ at UBS... On the Earnings calendar: ADBE, SWHC and TMRK are confirmed to report after the close... On the Economic calendar, nothing remains on the schedule for today.
Gapping down on weak earnings/guidance: SCSS -6.8%, CSC -3.5%, BSC -2.7%, GS -2.7% (MS -1.3% and LEH -1.0% in sympathy with BSC & GS)... Other news: IPG -4.8% (co receives Wells notice from SEC), JSDA -4.6% (Stifel notes that SBUX will discontinue sales of JSDA), SNY -4.3% (FDA advisory committee did not recommend approval of Zimulti).
Gapping up on strong earnings/guidance: LPHI +3.7%... Other news: HOKU +67.8% (co and STP sign $678 mln polysilicon supply contract), KRY +28.1% (announces requirements of MinAmb have been fulfilled regarding permitting for the Las Cristinas project), GNLB +15.5% (initiated with a Buy and and $6 tgt at Oppenheimer), ACH +8.2% (upgraded to Buy at tier-1 firm), BRLC +6.4% (CIBC made positive comments), HGSI +4.6% (phase 2 study of LymphoStat-B showed significant reductions in disease activity), ARQL +4.3% (prices a 7 mln share common stock offering of $7.75/share), DPHIQ +4.2% (Reuters reports Delphi, GM near deal with UAW), CLWR +4.0% (announces distribution agreements with DIRECTV and EchoStar) ISIL +3.5% (upgraded to Buy at Banc of America), SRZ +2.7% (Millennium Partners 'demands' changes at SRZ), MU +1.7% (positive broker commentary regarding DRAM prices in Asia).
Notable pre-market Calls include Downgrades: SNY at HSBC and JP Morgan, DJ at UBS... On the Earnings calendar: ADBE, SWHC and TMRK are confirmed to report after the close... On the Economic calendar, nothing remains on the schedule for today.
Gapping down on weak earnings/guidance: SCSS -6.8%, CSC -3.5%, BSC -2.7%, GS -2.7% (MS -1.3% and LEH -1.0% in sympathy with BSC & GS)... Other news: IPG -4.8% (co receives Wells notice from SEC), JSDA -4.6% (Stifel notes that SBUX will discontinue sales of JSDA), SNY -4.3% (FDA advisory committee did not recommend approval of Zimulti).
Gapping up on strong earnings/guidance: LPHI +3.7%... Other news: HOKU +67.8% (co and STP sign $678 mln polysilicon supply contract), KRY +28.1% (announces requirements of MinAmb have been fulfilled regarding permitting for the Las Cristinas project), GNLB +15.5% (initiated with a Buy and and $6 tgt at Oppenheimer), ACH +8.2% (upgraded to Buy at tier-1 firm), BRLC +6.4% (CIBC made positive comments), HGSI +4.6% (phase 2 study of LymphoStat-B showed significant reductions in disease activity), ARQL +4.3% (prices a 7 mln share common stock offering of $7.75/share), DPHIQ +4.2% (Reuters reports Delphi, GM near deal with UAW), CLWR +4.0% (announces distribution agreements with DIRECTV and EchoStar) ISIL +3.5% (upgraded to Buy at Banc of America), SRZ +2.7% (Millennium Partners 'demands' changes at SRZ), MU +1.7% (positive broker commentary regarding DRAM prices in Asia).
June 13th - Wednesday - Gapping up/down
Futures indicate a higher open for the mkt as May Retail Sales checked in at 1.4% (consensus 0.6%) and Sales ex-auto came in at 1.3% (consensus 0.7%) to further suggest that consumer spending remains healthy. Futures had been trading higher, but pulled back on the mkt's sensitivity for stronger than expected data to potentially diminish the likelihood of a Fed rate cute. However, the data also pushed bond yields lower, and futures began rallying again shortly thereafter. Dow futures are currently +64; Nasdaq futures are currently +8.2; S&P futures are currently +7.7.
Notable pre-market Calls include Upgrades: BBI and BMY at Citi, RDY at Credit Suisse; Downgrades: AL at Bear Stearns... On the Earnings calendar: CASY, CSC and SEH are confirmed to report after the close... On the Economic calendar, Apr Business Inventories (consensus 0.3%) will be released at 10:00ET, while the Fed's Beige Book will be released at 14:00ET
Gapping down on weak earnings/guidance: HS -4.2%... Other news: BSX -7.8% (judge rules that some product liability claims can proceed against BSX), LJPC -5.2% (initiated with a Sell at Lazard), IDIX -4.2% (continued weakness after yesterday's ~7% sell-off, downgraded to Hold at Maxim), NFLX -2.6% (continued weakness following yesterday's BBI competitive pricing news).
Gapping up on strong earnings/guidance: LWSN +10.2%, SAPE +9.0%... Other news: BBI +5.1% (upgraded to Buy at Citigroup), ILMN +4.2% (receives order for 75th genome analyzer, upgraded to Strong Buy at Matrix), RDY +3.9% (upgraded to Outperform at Credit Suisse), ACLI +3.5% (bounces after yesterday's ~10% decline), NBIX +3.4% (announces resubmission of new drug application for Indiplon capsules), RTP +3.0% (Forbes.com reports RTP unit Coal & Allied declares 'force majeure' on number of sales deals), MT +2.6% (Shareholders approve all resolutions on the agenda of MT co's annual general meeting), OMTR +1.9% (announces pricing of public offering of common stock at $18.15).
Notable pre-market Calls include Upgrades: BBI and BMY at Citi, RDY at Credit Suisse; Downgrades: AL at Bear Stearns... On the Earnings calendar: CASY, CSC and SEH are confirmed to report after the close... On the Economic calendar, Apr Business Inventories (consensus 0.3%) will be released at 10:00ET, while the Fed's Beige Book will be released at 14:00ET
Gapping down on weak earnings/guidance: HS -4.2%... Other news: BSX -7.8% (judge rules that some product liability claims can proceed against BSX), LJPC -5.2% (initiated with a Sell at Lazard), IDIX -4.2% (continued weakness after yesterday's ~7% sell-off, downgraded to Hold at Maxim), NFLX -2.6% (continued weakness following yesterday's BBI competitive pricing news).
Gapping up on strong earnings/guidance: LWSN +10.2%, SAPE +9.0%... Other news: BBI +5.1% (upgraded to Buy at Citigroup), ILMN +4.2% (receives order for 75th genome analyzer, upgraded to Strong Buy at Matrix), RDY +3.9% (upgraded to Outperform at Credit Suisse), ACLI +3.5% (bounces after yesterday's ~10% decline), NBIX +3.4% (announces resubmission of new drug application for Indiplon capsules), RTP +3.0% (Forbes.com reports RTP unit Coal & Allied declares 'force majeure' on number of sales deals), MT +2.6% (Shareholders approve all resolutions on the agenda of MT co's annual general meeting), OMTR +1.9% (announces pricing of public offering of common stock at $18.15).
June 12th - Tuesday - Gapping up/down
utures indicate a lower open for the mkt as yesterday's lackluster finish is carrying over into today. Bond yields are higher again this morning and TXN is trading lower following the co's mid-quarter update, in which it tightened its Q2 guidance. On a positive note, LEH is trading higher as the co's Q2 earnings handily beat on the top and bottom line. Dow futures are currently -61; Nasdaq futures are currently -10.5; S&P futures are currently -6.7.
Notable pre-market Calls include Upgrades: TTWO at JP Morgan and Kaufman Bros; Downgrades: AAPL at ThinkEquity, X at Bear Stearns... On the Earnings calendar: FNSR, MEAS, RENT and SAPE are confirmed to report after the close... On the Economic calendar, the May Treasury Budget (consensus -$68.0 bln) will be released at 14:00ET.
Gapping down on weak earnings/guidance: ACLI -9.5%, ROLL -6.8%, LUB -5.6%... Trading down following TXN's mid-qtr update: TXN -2.4%, NOK -1.5%, ERIC -1.5%... Other news: NRMX -4.5% (tgt cut to $4 at Piper), SIRF -4.0% (BRCM acquires competitor Global Locate), MDVN -2.4% (profit taking after yesterday's +23% move), NFLX -2.0% (BBI announces new lower priced subscription plans for online subscribers).
Gapping up on strong earnings/guidance: TTWO +6.4%, JMBA +5.0%, LEH +1.7%... M&A: HOFF +9.1% (to be acquired by Cal Dive International for approximately $19.25)... Other news: IDIX +16.4% (says Valopicitabine combined with standard of care cleared Hepatitis C virus in 72% of patients), RGEN +12.4% (announces favorable ruling against IMCL), CRGN +9.2% (presents update on clinical development program for Belinostat), ITG +9.0% (DE Shaw files 13D disclosing 6.2% stake, issues letter to CEO), TLM +7.0% (DJ reports Texas Court to hear CEO-TLM Indonesian case in Nov), PIR +7.0% ( upgraded to Buy at Goldman - CNBC), VSE +5.6% (continued momentum carrying over after yesterday's BP-for-VSE rumor and subsequent heavy call buying), JDSU +2.9% (upgraded to Outperform at Bernstein), RFMD +2.5% (upgraded to Buy at ThinkEquity).
Notable pre-market Calls include Upgrades: TTWO at JP Morgan and Kaufman Bros; Downgrades: AAPL at ThinkEquity, X at Bear Stearns... On the Earnings calendar: FNSR, MEAS, RENT and SAPE are confirmed to report after the close... On the Economic calendar, the May Treasury Budget (consensus -$68.0 bln) will be released at 14:00ET.
Gapping down on weak earnings/guidance: ACLI -9.5%, ROLL -6.8%, LUB -5.6%... Trading down following TXN's mid-qtr update: TXN -2.4%, NOK -1.5%, ERIC -1.5%... Other news: NRMX -4.5% (tgt cut to $4 at Piper), SIRF -4.0% (BRCM acquires competitor Global Locate), MDVN -2.4% (profit taking after yesterday's +23% move), NFLX -2.0% (BBI announces new lower priced subscription plans for online subscribers).
Gapping up on strong earnings/guidance: TTWO +6.4%, JMBA +5.0%, LEH +1.7%... M&A: HOFF +9.1% (to be acquired by Cal Dive International for approximately $19.25)... Other news: IDIX +16.4% (says Valopicitabine combined with standard of care cleared Hepatitis C virus in 72% of patients), RGEN +12.4% (announces favorable ruling against IMCL), CRGN +9.2% (presents update on clinical development program for Belinostat), ITG +9.0% (DE Shaw files 13D disclosing 6.2% stake, issues letter to CEO), TLM +7.0% (DJ reports Texas Court to hear CEO-TLM Indonesian case in Nov), PIR +7.0% ( upgraded to Buy at Goldman - CNBC), VSE +5.6% (continued momentum carrying over after yesterday's BP-for-VSE rumor and subsequent heavy call buying), JDSU +2.9% (upgraded to Outperform at Bernstein), RFMD +2.5% (upgraded to Buy at ThinkEquity).
June 11th Monday - Gapping up/down
Futures indicate a flat open for the mkt. Strength in the Chinese and European mkts has helped futures, but is offset from today's lack of M&A activity, per usual for a Monday, and more weakness in the bond mkt. However, there is little conviction on the part of buyers as this week's deluge of economic data, from retail sales to updates on inflation, won't kick off in earnest until Wednesday.
Notable pre-market Calls include Upgrades: JNJ at Credit Suisse; Downgrades: BOT at Credit Suisse, NFLX at JP Morgan, UAUA at Calyon, PENN at Morgan Joseph; Initiations: NMX at Credit Suisse (Neutral), ICE at Credit Suisse (Outperform)... On the Earnings calendar: CYBX, RVI, SORC and TTWO are confirmed to report after the close... The Economic calendar is empty today.
Gapping down on weak guidance: NUE -5.4%... Steel names ticking lower on combination of NUE guidance and DJ report that ThyssenKrupp denied it was in talks with Severstal, US Steel: X-4.8%, STLD -4.1%, AKS -2.9%, CMC -2.4%, GNA -1.9%... Other news: MKTX -5.9% (downgraded to Underperform at Credit Suisse), PENN -4.7% (table games in Charles Town rejected in weekend vote; several brokers are commenting on news, with stock downgraded at Morgan Joseph), HOG -2.8% (tgt cut to $67 from $69 at UBS), E -1.4% (said its crude-oil production in Nigeria is "near normal" after having been curbed by militant attacks).
Gapping Up on strong earnings/guidance: CRED +8.9%, JOSB +3.6%... M&A: BYBI +23.6% (to be acquired by private equity for $6.50 per share), CUP +8.9% (announces friendly C$6.60/share cash offer by Aluminum of China)... Other news: MDVN +32.9% (announces Dimebon maintains statistically significant benefit on all five efficacy endpoints in Alzheimer's disease), NRMX +10.4% (presents update on Alzhemed), INFN +7.3% (continued momentum following last week's IPO), GERN +6.1% (says research indicates its embryonic stem cell-based therapeutic for spinal cord injury evades direct attack by the human immune system), ADLR +5.3% (co and GSK provide update on Alvimopan program, say complete response to the POI Approvable Letter now targeted for 3Q07), NGSX +4.7% (initiated with an Overweight at Morgan Stanley, initiated with a Positive at Susquehanna), ILMN +4.7% (announces launch of iControlDB), SNSS +4.2% (reports positive data from studies of two anti-cancer agents), SINA +3.8% (announces strategic partnership with Google in the areas of search, advertisement and news).
Notable pre-market Calls include Upgrades: JNJ at Credit Suisse; Downgrades: BOT at Credit Suisse, NFLX at JP Morgan, UAUA at Calyon, PENN at Morgan Joseph; Initiations: NMX at Credit Suisse (Neutral), ICE at Credit Suisse (Outperform)... On the Earnings calendar: CYBX, RVI, SORC and TTWO are confirmed to report after the close... The Economic calendar is empty today.
Gapping down on weak guidance: NUE -5.4%... Steel names ticking lower on combination of NUE guidance and DJ report that ThyssenKrupp denied it was in talks with Severstal, US Steel: X-4.8%, STLD -4.1%, AKS -2.9%, CMC -2.4%, GNA -1.9%... Other news: MKTX -5.9% (downgraded to Underperform at Credit Suisse), PENN -4.7% (table games in Charles Town rejected in weekend vote; several brokers are commenting on news, with stock downgraded at Morgan Joseph), HOG -2.8% (tgt cut to $67 from $69 at UBS), E -1.4% (said its crude-oil production in Nigeria is "near normal" after having been curbed by militant attacks).
Gapping Up on strong earnings/guidance: CRED +8.9%, JOSB +3.6%... M&A: BYBI +23.6% (to be acquired by private equity for $6.50 per share), CUP +8.9% (announces friendly C$6.60/share cash offer by Aluminum of China)... Other news: MDVN +32.9% (announces Dimebon maintains statistically significant benefit on all five efficacy endpoints in Alzheimer's disease), NRMX +10.4% (presents update on Alzhemed), INFN +7.3% (continued momentum following last week's IPO), GERN +6.1% (says research indicates its embryonic stem cell-based therapeutic for spinal cord injury evades direct attack by the human immune system), ADLR +5.3% (co and GSK provide update on Alvimopan program, say complete response to the POI Approvable Letter now targeted for 3Q07), NGSX +4.7% (initiated with an Overweight at Morgan Stanley, initiated with a Positive at Susquehanna), ILMN +4.7% (announces launch of iControlDB), SNSS +4.2% (reports positive data from studies of two anti-cancer agents), SINA +3.8% (announces strategic partnership with Google in the areas of search, advertisement and news).
Sunday, June 10, 2007
June 8th - Friday - Gapping up/down
Gapping down on news: HSOA -8.8% (cautious Street.com article), TLAB -3.4% (downgraded at two firms this morning), NT -3.0% (initiated with a Underperform at Credit Suisse), AU -1.9% (announces preliminary May 2007 revenue), AZN -1.8% (Bloomberg.com report AZN's Brennan seeks New Drugs in acquisitions).
Gapping up on strong earnings/guidance: NSM +9.2% (MXIM +3.4% in sympathy), CAE +5.8%, ZQK +2.6%.. ITC bans the import of future models of 3G handsets incorporating QCOM chipsets: TXN +2.0% (also in sympathy with NSM), QCOM +1.9%, BRCM +1.8%... Other news: AVNR +7.5 (announces both doses of Zenvia meet primary endpoint), KMGB +4.6%, EON +2.3% (added to tier-1 firm's buy list), AKAM +1.8% (competitor Limelight IPO opens for trading today, also AKAM upgraded to at WR Hambrecht), DNA +1.5% (upgraded to Buy at Deutsche Bank).
Gapping up on strong earnings/guidance: NSM +9.2% (MXIM +3.4% in sympathy), CAE +5.8%, ZQK +2.6%.. ITC bans the import of future models of 3G handsets incorporating QCOM chipsets: TXN +2.0% (also in sympathy with NSM), QCOM +1.9%, BRCM +1.8%... Other news: AVNR +7.5 (announces both doses of Zenvia meet primary endpoint), KMGB +4.6%, EON +2.3% (added to tier-1 firm's buy list), AKAM +1.8% (competitor Limelight IPO opens for trading today, also AKAM upgraded to at WR Hambrecht), DNA +1.5% (upgraded to Buy at Deutsche Bank).
June 7th - Thursday - Gapping up/down
Gapping down on weak earnings/guidance: SEAC -9.4%, SHFL -6.0%, CMTL -5.0%, SIX -2.6% (provided mid-quarter update)... Other news: YANB -4.2% (to be acquired by PNC for $35.00 per share -- below last night's 35.77 closing price), MNST -2.4% (announces new CFO), DNDN -2.2% (still checking for news), CMG -2.2% (downgraded to Market Perform at Raymond James).
Gapping up on strong earnings/guidance: AHO +3.8%, ADCT +3.2%... Following same store sales reports: JOSB +9.3%, SKS +5.0%... Other news: BAMM +10.6% (announces $3.00 special one-time dividend), HGSI +7.2% (announces positive final results Of Phase 2b trial of Albuferon), KRY +3.9% (Chavez still deciding what to do with the Sidor steel conglomerate and the Las Cristinas gold mine), BMET +3.2% (private equity consortium increases offer for BMET to $46.00 per share in cash), AAPL +1.2%, RIMM +1.0% (Cramer named AAPL, GOOG, RIMM and AMZN as his top four tech picks).
Gapping up on strong earnings/guidance: AHO +3.8%, ADCT +3.2%... Following same store sales reports: JOSB +9.3%, SKS +5.0%... Other news: BAMM +10.6% (announces $3.00 special one-time dividend), HGSI +7.2% (announces positive final results Of Phase 2b trial of Albuferon), KRY +3.9% (Chavez still deciding what to do with the Sidor steel conglomerate and the Las Cristinas gold mine), BMET +3.2% (private equity consortium increases offer for BMET to $46.00 per share in cash), AAPL +1.2%, RIMM +1.0% (Cramer named AAPL, GOOG, RIMM and AMZN as his top four tech picks).
Wednesday, June 6, 2007
June 6th - Wednesday - Gapping up / down
Futures indicate a lower open for the U.S. equity mkts as the major European bourses are down following the ECB's expected 25-basis point rate hike and Morgan Stanley issuing a triple sell warnings on European equities. On the economic front, Q1 productivity was revised lower, checking in at 1.0% (consensus 1.0%) from a previous read of 1.7%. With high levels of resource utilization still a Fed focal point as they have the potential to sustain inflation pressures, unit labor costs tripling from the 0.6% rate initially reported has exacerbated wage-based inflation worries.
Notable pre-market Calls include Upgrades: TEVA at Credit Suisse, IMA at Stifel Nicolaus; Downgrades: CACH at Merriman, GILD at Credit Suisse and Deutsche Bank, VLTR at CIBC and First Albany, PNRA at Morgan Keegan... On the Earnings calendar: ADCT, CMTL, DDMX, GEF, MATK, SAI, SEAC and SHFL are confirmed to report after the close... On the Economic calendar, nothing remains on the schedule for today.
Gapping down on weak earnings/guidance: PNRA -9.8% (reports May same store sales, lowers Q2 guidance), COO -7.3%, CPRT -3.7%... Other news: XTLB -26.2% (provides update on Phase 1 clinical trial of XTL-2125), HSOA -6.3% (continued pressure after yesterday's ~10% sell-off following cautious newsletter mention), FRO -3.3% (trading ex-dividend of a $1.50 cash dividend), AAUK -2.4%, GFI -2.2% (announced total attributable mineral resources of $251.7 mln oz and ore reserves of 93.8 mln oz).
Gapping up on strong earnings/guidance: GES +5.1%... Jana Partners and SAC Capital seek sale of AMTD, suggest SCHW and ETFC as merger partners: AMTD +5.3%, ETFC +3.1%, SCHW +1.3%... Other news: IVAN +17.9% (co 'successfully' demonstrates final key commercial configuration of heavy oil upgrading technology), TBUS +11.1% (announces orders for TwinVision color electronic destination sign systems), ACAD +10.2% (positive Cramer mention), TAL +5.9% (exploring strategic alternatives, including possible sale), GNVC +3.0% (co holding conference call at 8:30 E.T. to review data presented at ASCO), RACK +1.9% (still checking around), OPWV +1.7% (Unstrung reports there is still talk that Sybase could be waiting in the wings with an offer).
Notable pre-market Calls include Upgrades: TEVA at Credit Suisse, IMA at Stifel Nicolaus; Downgrades: CACH at Merriman, GILD at Credit Suisse and Deutsche Bank, VLTR at CIBC and First Albany, PNRA at Morgan Keegan... On the Earnings calendar: ADCT, CMTL, DDMX, GEF, MATK, SAI, SEAC and SHFL are confirmed to report after the close... On the Economic calendar, nothing remains on the schedule for today.
Gapping down on weak earnings/guidance: PNRA -9.8% (reports May same store sales, lowers Q2 guidance), COO -7.3%, CPRT -3.7%... Other news: XTLB -26.2% (provides update on Phase 1 clinical trial of XTL-2125), HSOA -6.3% (continued pressure after yesterday's ~10% sell-off following cautious newsletter mention), FRO -3.3% (trading ex-dividend of a $1.50 cash dividend), AAUK -2.4%, GFI -2.2% (announced total attributable mineral resources of $251.7 mln oz and ore reserves of 93.8 mln oz).
Gapping up on strong earnings/guidance: GES +5.1%... Jana Partners and SAC Capital seek sale of AMTD, suggest SCHW and ETFC as merger partners: AMTD +5.3%, ETFC +3.1%, SCHW +1.3%... Other news: IVAN +17.9% (co 'successfully' demonstrates final key commercial configuration of heavy oil upgrading technology), TBUS +11.1% (announces orders for TwinVision color electronic destination sign systems), ACAD +10.2% (positive Cramer mention), TAL +5.9% (exploring strategic alternatives, including possible sale), GNVC +3.0% (co holding conference call at 8:30 E.T. to review data presented at ASCO), RACK +1.9% (still checking around), OPWV +1.7% (Unstrung reports there is still talk that Sybase could be waiting in the wings with an offer).
Tuesday, June 5, 2007
June 5th - Tuesday - Gapping up/down
Futures indicate a lower open for the mkt after the Dow, S&P 500, Russell 2000 and S&P 400 Midcap all hit new highs yesterday. Fed Chairman Bernanke's prepared statement at 8:15ET failed to provide investors with much enthusiasm. The statement was generally upbeat about the economy, saying he expects growth 'close to or slightly below' trend and that long run inflation expectations remain contained, but his testimony doing little to improve the likelihood of a rate cut anytime soon.
Notable pre-market Calls include Upgrades: BHP at Citi, DOW at Lehman; Downgrades: OPWV at CIBC, JP Morgan, ICAP and Needham, JNPR and TRMP at UBS, GIS at Bear Stearns... On the Earnings calendar; ABM, COO, CPRT, GES, NAVR, TUTR... On the Economic calendar, May ISM Services (consensus 55.5) will be released at 10:00ET.
Gapping down on weak earnings/guidance: AMWD -7.0%, BBBY -5.7%... Other news: OPWV -15.7 (Board rejects Harbinger's offer), TELK -15.0% (announces clinical hold on Telcyta trials), GPCB -11.3% (profit taking after yesterday's late day ~10% run following CEO's comments on CNBC), TRMP -5.7% (downgraded to Peer Perform at Bear Stearns), JNPR -1.6% (downgraded to Neutral at UBS), SNY -1.1% (updated study results reinforce survival benefit of Taxotere for men with advanced, hormone-resistant prostate cancer)
Gapping up on strong earnings/guidance: FCEL +4.3%, MIND +5.1%... Other news: DRL +11.7% (Board authorizes discussions with FBOP to review previously reported proposal), ONCY +10.1% (announces positive clinical data from U.S. phase 1 Reolysin trial), FMP +9.8% (announces exploration of strategic alternatives to enhance shareholder value), QGEN +7.5% (upgraded at WestLB, following yesterday's ~10% sell-off after announcing DIGE acquisition), RACK +7.0% (follow-through momentum following yesterday's +5% move, after Jon Najarian discusses co as takeover candidate on CNBC this morning), IDMI +6.8% (presents interim Phase 2 data from EP-2101 lung cancer vaccine clinical trial), RAD +3.1% (positive Cramer mention), AV +2.6% (to be acquired by Silver Lake and TPG Capital for $17.50 per share).
Notable pre-market Calls include Upgrades: BHP at Citi, DOW at Lehman; Downgrades: OPWV at CIBC, JP Morgan, ICAP and Needham, JNPR and TRMP at UBS, GIS at Bear Stearns... On the Earnings calendar; ABM, COO, CPRT, GES, NAVR, TUTR... On the Economic calendar, May ISM Services (consensus 55.5) will be released at 10:00ET.
Gapping down on weak earnings/guidance: AMWD -7.0%, BBBY -5.7%... Other news: OPWV -15.7 (Board rejects Harbinger's offer), TELK -15.0% (announces clinical hold on Telcyta trials), GPCB -11.3% (profit taking after yesterday's late day ~10% run following CEO's comments on CNBC), TRMP -5.7% (downgraded to Peer Perform at Bear Stearns), JNPR -1.6% (downgraded to Neutral at UBS), SNY -1.1% (updated study results reinforce survival benefit of Taxotere for men with advanced, hormone-resistant prostate cancer)
Gapping up on strong earnings/guidance: FCEL +4.3%, MIND +5.1%... Other news: DRL +11.7% (Board authorizes discussions with FBOP to review previously reported proposal), ONCY +10.1% (announces positive clinical data from U.S. phase 1 Reolysin trial), FMP +9.8% (announces exploration of strategic alternatives to enhance shareholder value), QGEN +7.5% (upgraded at WestLB, following yesterday's ~10% sell-off after announcing DIGE acquisition), RACK +7.0% (follow-through momentum following yesterday's +5% move, after Jon Najarian discusses co as takeover candidate on CNBC this morning), IDMI +6.8% (presents interim Phase 2 data from EP-2101 lung cancer vaccine clinical trial), RAD +3.1% (positive Cramer mention), AV +2.6% (to be acquired by Silver Lake and TPG Capital for $17.50 per share).
Monday, June 4, 2007
June 4th - Monday - Gapping up/down
Futures indicate a lower open for the mkt as the Shanghai Composite in China sold off 8.3% today. Note it also plunged 6.5% last Wednesday, weighing on early sentiment; but was labeled as a contained event as the U.S. mkt not only recovered, but rallied. Per usual for a Monday morning, there is quite a bit of M&A news: FLEX has agreed to buy SLR for $3.6 bln, D is selling most of its E&P unit for $6.5 bln, a private equity firm is acquiring a 25% stake in PALM for $325 mln, LEND disclosed it is going private, QGEN is acquiring DIGE, etc.
Notable pre-market Calls include Upgrades: MOT at CIBC, WMT at Wachovia, JP Morgan and HSBC, SIRI, ONXX and PALM at Bear Stearns, NSM at JP Morgan; Downgrades: DB at JP Morgan, CM at RBC, STI at BofA... On the Earnings calendar: BOBE, CMOS, DMND, FCEL and SIGM are the only cos confirmed to report after the close... On the Economic calendar, Apr Factory Orders (consensus 0.6%) will be released at 10:00ET.
Gapping down on weak earnings/guidance: CRAY -22.6%, KKD 2.3%... Other news: TELK -13.1% (reports Telcyta ASSIST-3 trial results, says assessment of the primary endpoint may have been compromised), CTIC -8.6% (data presented at ASCO provides independent supportive data validating the potential survival benefit of Xyotax), DAL -5.8% (still checking), DNDN -3.1% (announces a $75 mln convertible notes private placement offering).
Gapping up on M&A: DIGE +36.4% (to be acquired by QGEN for 61.25 per share), SLR +15.7% (to be acquired by FLEX for $3.89 per share), LEND +9.2% (to be acquired by Lone Star Funds for $15.10 per share)... ASCO related news: SCLN +14.4% (thymalfasin achieved its primary endpoint in a phase 2 clinical trial), CYCC +19.7% (reported Phase I sapacitabine data, tgt upped to $12 at Needham), ARIA +7.4% (presents positive efficacy data on AP23573), ONXX +6.1% (announced that Nexavar significantly extends overall survival by 44%)... Other news: PALM +10.0% (announces strategic recapitalization with Elevation Partners, upgraded at Bear Stearns), CDNS +8.7% (NYT reports co is in buyout talks), NVT +6.4% (Cramer highlights recent GOOG-for-NVT rumors).
Courtesy of Briefing.com
Notable pre-market Calls include Upgrades: MOT at CIBC, WMT at Wachovia, JP Morgan and HSBC, SIRI, ONXX and PALM at Bear Stearns, NSM at JP Morgan; Downgrades: DB at JP Morgan, CM at RBC, STI at BofA... On the Earnings calendar: BOBE, CMOS, DMND, FCEL and SIGM are the only cos confirmed to report after the close... On the Economic calendar, Apr Factory Orders (consensus 0.6%) will be released at 10:00ET.
Gapping down on weak earnings/guidance: CRAY -22.6%, KKD 2.3%... Other news: TELK -13.1% (reports Telcyta ASSIST-3 trial results, says assessment of the primary endpoint may have been compromised), CTIC -8.6% (data presented at ASCO provides independent supportive data validating the potential survival benefit of Xyotax), DAL -5.8% (still checking), DNDN -3.1% (announces a $75 mln convertible notes private placement offering).
Gapping up on M&A: DIGE +36.4% (to be acquired by QGEN for 61.25 per share), SLR +15.7% (to be acquired by FLEX for $3.89 per share), LEND +9.2% (to be acquired by Lone Star Funds for $15.10 per share)... ASCO related news: SCLN +14.4% (thymalfasin achieved its primary endpoint in a phase 2 clinical trial), CYCC +19.7% (reported Phase I sapacitabine data, tgt upped to $12 at Needham), ARIA +7.4% (presents positive efficacy data on AP23573), ONXX +6.1% (announced that Nexavar significantly extends overall survival by 44%)... Other news: PALM +10.0% (announces strategic recapitalization with Elevation Partners, upgraded at Bear Stearns), CDNS +8.7% (NYT reports co is in buyout talks), NVT +6.4% (Cramer highlights recent GOOG-for-NVT rumors).
Courtesy of Briefing.com
Sunday, June 3, 2007
June 1st - Friday - Gapping up/down
Gapping down on weak earnings/guidance: BRCD -1.5%... Other news: DDSS -42.8% (receives 2nd approvable letter saying DDSS has not demonstrated the efficacy of its once-daily formulation of tramadol), BLUD -7.9% (co announces CFO will resign for family reasons), CHTR -3.9% (cautious Cramer comments), TSL -1.6% (prices a 5.4 mln share ADR offering at $45/ADR), RSH -2.5% (downgraded at tier-1 firm), LPL -2.1% (co discloses it will not invest in a new 5.5 generation plant), GSK -1.8%.
Futures indicate a higher open for the mkt as May Nonfarm Payrolls came in stronger than expected (157K vs. consensus 135K), while Apr core-PCE Inflation came in below expectations (0.1% vs. consensus 0.2%). The combination of economic activity appearing to be picking up with inflation moderating has provided the lift to the futures mkt. Also setting a positive tone for the mkt is DELL, which is trading up over 4% after the co's Q1 earnings beat on the top and bottom line.
Notable pre-market Calls include Upgrades: OVTI at Merriman, BYD at Wachovia, NHY and LEA at UBS, WFMI at Matrix, DELL at AG Edwards; Downgrades: NDAQ at Lehman... Nothing remains on the Earnings Calendar for today... On the Economic calendar, the May ISM Index (consensus 54.0), revised May Michigan Sentiment (consensus 88.0) and Apr Pending Home Sales (consensus 0.4%) will be released at 10:00ET.
Gapping up on strong earnings/guidance: JCG +5.8%, DELL +4.4%... Other news: ANTP +34.4% (awarded $969K contract), GLDD +17.5% (positive Cramer mention), ENMD +17.3% (announces its Aurora Kinase inhibitor induces tumor regression in preclinical models), DJ +14.4% (Murdoch family said it would meet with News Corp to discuss its DJ bid), NVAX +12.7% (co announces pre-clinical data showing pandemic flu vaccine provided protection against a lethal challenge of live virus), ISTA +13.1% (announces positive preliminary results from ecabet sodium phase IIb study), IMMC +11.7% (seeks termination of exclusive marketing agreement and damages from Veridex), DXCM +8.7% (receives FDA approval for its 7-day STS Continuous Glucose Monitoring System), ZIOP +8.5% (announces ZIO-101 oral capsule clears FDA review for Phase I study), CCIX +6.6% (positive Cramer mention), DNDN +5.3%, FCSX +5.0% (positive Cramer mention), SNTO +4.2% (receives Nasdaq notice that it is in full compliance with continued listing standards),SAP +4.0% (speculation that ORCL bought a 12% stake in co).
Futures indicate a higher open for the mkt as May Nonfarm Payrolls came in stronger than expected (157K vs. consensus 135K), while Apr core-PCE Inflation came in below expectations (0.1% vs. consensus 0.2%). The combination of economic activity appearing to be picking up with inflation moderating has provided the lift to the futures mkt. Also setting a positive tone for the mkt is DELL, which is trading up over 4% after the co's Q1 earnings beat on the top and bottom line.
Notable pre-market Calls include Upgrades: OVTI at Merriman, BYD at Wachovia, NHY and LEA at UBS, WFMI at Matrix, DELL at AG Edwards; Downgrades: NDAQ at Lehman... Nothing remains on the Earnings Calendar for today... On the Economic calendar, the May ISM Index (consensus 54.0), revised May Michigan Sentiment (consensus 88.0) and Apr Pending Home Sales (consensus 0.4%) will be released at 10:00ET.
Gapping up on strong earnings/guidance: JCG +5.8%, DELL +4.4%... Other news: ANTP +34.4% (awarded $969K contract), GLDD +17.5% (positive Cramer mention), ENMD +17.3% (announces its Aurora Kinase inhibitor induces tumor regression in preclinical models), DJ +14.4% (Murdoch family said it would meet with News Corp to discuss its DJ bid), NVAX +12.7% (co announces pre-clinical data showing pandemic flu vaccine provided protection against a lethal challenge of live virus), ISTA +13.1% (announces positive preliminary results from ecabet sodium phase IIb study), IMMC +11.7% (seeks termination of exclusive marketing agreement and damages from Veridex), DXCM +8.7% (receives FDA approval for its 7-day STS Continuous Glucose Monitoring System), ZIOP +8.5% (announces ZIO-101 oral capsule clears FDA review for Phase I study), CCIX +6.6% (positive Cramer mention), DNDN +5.3%, FCSX +5.0% (positive Cramer mention), SNTO +4.2% (receives Nasdaq notice that it is in full compliance with continued listing standards),SAP +4.0% (speculation that ORCL bought a 12% stake in co).
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