The music stopped, if only temporarily, in many of the commodity stocks today. Silver plays PAAS and SSRI were down more than 10%, Gold stocks HMY, MDG, and GLG were down more than 8%, Stillwater Mining (SWC) was down 8%, and on & on. Perhaps people were selling all those stocks to buy GM which ran hard today and helped to push the Dow to fresh 6-year highs. The broader indices like the S&P 500, Nasdaq and Russell revealed a lot of churn today. I’m sure options expiration played a part in today’s action and I’m expecting more of the same tomorrow — which is why I’ll be taking the day off like I always do on expiration day.
Below are charts of the Dow, Nasdaq, S&P 500 and General Motors (GM):
Here’s Briefing.com’s summary of tonight’s after-hours movers:
Companies moving in after hours trading in reaction to earnings: Trading Up: MROI +22.6% (reports $0.10 above consensus; raises Y06 guidance); SWIR +13.3% (beats by $0.12 guides above consensus); PDFS +8.2% ($0.12 vs $0.13 Reuters consensus, $0.12 First Call; revs $19.9 mln vs $21.03 mln Reuters consensus); GOOG +7.4% (Google beats on top and bottom line); PKTR +5.9% (beats by $0.06, beats on revs); BRCM +4.4% ($0.36, ex items vs $0.19 Reuters consensus, $0.18 First Call; revs $900.6 mln vs $870.70 mln Reuters); SYK +3.4% (reports $0.01 above consensus, ex-items; guides Y06 EPS in-line);TPX +3.2% (beats by a penny, light on revs; guides for Y06); MOLX 2.7% (reports $0.03 above consensus, ex-items; guides Q4 above consensus); PMCS +2.7% (beats by $0.02, beats on revs); LEG +2.5% (beats by $0.02 ex items, issues upside Q2 guidance and reaffirms FY06 EPS)… Trading Down: FFIV -15.3% (Networks misses by a penny, guides below consensus); SCST -12.7% (reports $0.04 below consensus, ex-items); HYSL -11.5% (beats by $0.02, guides in line, announces $100 mln buyback, privately held acquisition); HTCH -11.5% (beats by $0.04, issues downside guidance); ZHNE -10.7% (reports Q1 revs below consensus); FDRY -10.6% ($0.12 vs $0.13 Reuters consensus; revs $114.0 mln vs $113.12 mln Reuters consensus); AFFX -8.5% (beats by $0.02, light on revs); CREE -7.6% (reports in-line EPS; guides Q4 EPS below consensus); JAKK -5.6% (sees FY06 $2.63 vs $2.42 Reuters consensus; sees revs $825 mln vs $790.23 mln Reuters consensus); VRSN -5.34% (reports in-line); SUPG -3.7% (misses $0.09, light on revs); EFII -3.68% (reports in line, guides in line); MIPS -3.27% (non-GAAP $0.10 vs $0.09 Reuters consensus; revs $17.5 mln vs $18.21 mln Reuters consensus); CERN -2.1% (beats by a penny, guides in-line)… Companies moving in reaction to news: Trading Up: SOLD +15.3% (Housevalues raises 2006 Q1 outlook); AXYX +9.1% (P.E.T scans show increased brain neuron activity and reduced amyloid load); RMBS +5.4% (announces that no verdict has been reached yet in Hynix case… Trading Down: HYSL -9.3% (to acquire UpStream Software)… Mentioned on Mad Money: EMKR +8.5%, SGMS +2.1%
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