The futures are on fire this morning. I don't know if that's due to the M&A activity or people just fading Greenspan. Whatever the reason, the market's already reclaimed all of Friday's losses. So the Dow's trendline is safe for now...
On Today's Calendar:
- 10:00 -- Existing Home Sales
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
See one of the recent 'Chart Reading' posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
Gapping down on weak earnings/guidance: GEHL -6.9%... Other news: CPTS -8.4% (downgraded to Sector Perform at CIBC), ARRS -6.5% (ERIC offer for Norway's Tandberg Television beats ARRS offer), UTHR -4.8% (announces pulmonary hypertension opinion leaders' guidance on intravenous therapies; also CE Unterberg downgrade to Mkt Perform), NVS -2.9% (FDA wants more data on Galvus diabetes drug, new trial needed), OVTI -1.7% (Hambrecht previews Q4, believes recent rally in stock is likely overdone).
Gapping Up
Gapping up on strong earnings/guidance: CRDN +5.1%, XMSR +4.0%... M&A: TXU +13.5% (KKR to acquire TXU for $69.25/share), DOW +8.8% (to get private equity bid - Sunday Express), STN +4.0% (confirms it will be acquired by Fertitta Colony Partners for $90/share)... Other news: CNLG +9.7% (momentum - note that stock gave up most of its gains on Friday though), TIN +9.7% (announces plan to separate into 3 stand-alone public co's & to sell its strategic timberland), STTS +8.3% (STTS and SPIL rise on Nomura's upgrade - Bloomberg), SOLF +6.8% (positive mention in technical newsletter), MRK +3.5% (trading up after rival NVS says FDA wants more data on Galvus), CYTR +4.0% (enters into scientific advisory board agreements with "key" RNAi scientists), CHTR +4.0% (upgraded to Equal Weight at Morgan Stanley), CELL +3.8% (upgraded to Buy at Jefferies).
Disclaimer & How I use this list
