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).
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