We had minimal follow-through on Friday's selling / weakness. My guess is that people pulled back a bit ahead of this week's flood of earnings reports. It sure felt like nobody wanted to commit to anything today.
Surprisingly, I had a rather long list of long candidates after running my scans tonight. But once I checked earnings dates on them I had to cut the list in half. The bulk of the remaining stocks are one's that have already reported, rallied and have pulled back a bit. Those type of plays will continue to be my primary targets for the next couple of weeks.
Below are charts of the Nasdaq and the S&P 500:
Here's Briefing.com's summary of tonight's after-hours movers:
Companies moving in after hours trading in reaction to earnings: Trading Up: NTRI +26.8% (sees Y06 EPS of $1.80-1.90 vs. $1.38 Reuters Estimate Consensus; sees revs $490-510 mln vs. $424.59 mln Reuters Estimate Consensus); ZRAN +13.1% (beats by $0.14, ex items; guides above consensus); ATHR +10.9% (beats by $0.04, ex items; guides above cosnensus for Q2 & FY06 EPS); YRCW +7.9% (beats by $0.04, ex items; guides above cosnensus for Q2 & FY06 EPS); SUNW +7.8% (beats by $0.03; issues in line Q2 EPS guidance, upside rev guidance); UCTT +7.3% (beats by $0.03; issues in line Q2 EPS guidance, upside rev guidance); PTV +6.9% (beats by $0.13; guides Q2 and Y06 above consensus); RADN +5.9% (reports at least $0.04 better than consensus); IIVI +5.4% (beats by $0.05, guides for Q4, Y06 and Y07); NFLX +4.9% (beats by $0.04, ex items; guides Q2 revs above consensus; raises FY06 revenue guidance); BSTE +3.5% (beats by $0.13, beats on revs; issues upside Y06 EPS guidance); FWRD +3.1% (beats by $0.01); CR +2.8% (beats by $0.01, guides Y06 in line); OMM +2.1% (beats by $0.06); BER +1.8% (beats by $0.04); LNCR +1.7% (reports in-line); PRE +1.2% (beats by $0.40, ex items); RUTH +1.2% (reports in-line; raises Y06 guidance);YUM +1.1% (reports $0.02 above consensus; raises Y06 gudiance; reports P-4 comps)... Trading Down: CNET -8.0% (reports $0.01 above consensus; guides Q2 below consensus; guides Y06 in-line); CGNX -8.8% (misses by a penny, light on revs; issues downside Q2 guidance); SWKS -5.1% (beats by $0.04, ex items; guides Q2 revs above consensus; raises FY06 revenue guidance); MSPD -4.1% (misses by a penny, expects to achieve an operating profit on a non-GAAP basis in Q3);VLTR -3.6% (misses by $0.01, beats on revs); NBIX -1.0% (reports $0.02 above consensus; guides Y06 revs below consensus) ... Companies moving in reaction to news: Trading Up: EASY +9.0% (reaffirms first quarter 2006 guidance); DECK +6.8% (to replace JILL in S&P SmallCap 600); WIBC +1.4% (to replace ATSN in S&P SmallCap 600); RUTH +1.2% (to acquire largest franchisee); CEPH +1.1% (FDA has extended the action date for its review of the Supplemental New Drug Application for Sparlon); ... Trading Down: DOVP -45.5% (Bicifadine did not achieve a statistically significant effect relative to placebo on the primary endpoint); DSCO -39.8% (reports Sufaxin manufacturing issue ); NKBS -5.2% (anticipates 10-K filing by May 3, 2006; receives Nasdaq delisting determination).
