We’ve got a bounce in the S&P 500 but the Nasdaq is set to open down today, largely thanks to CSCO. I guess it’s time for tech to play “catch down” with the rest of the market. Elsewhere, Barry has a good look at the the fugly financials which I also mentioned last night
On Today’s Calendar:
- Nada, but Big Ben is speaking today
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
On weak earnings/guidance: KNXA -31.8% (also downgraded at multiple firms), ZUMZ -22.9%, HANS -22.4%, GPCB -14.5%, NTES -9.3%, TMTA -8.6%, BRLC -8.4%, ARAY -8%, CSCO -7.2%, AMKR -6.8%, MDR -5.7%, TOPT -5.4%, ALTI -3.9%, KGC -3.6% (also downgraded at multiple firms), IVAN -3.6%, … Other News: BID -24.3% (approves increase in stock comps; also downgraded at multiple firms), CRNT -4.7% (announces pricing of follow-on offering of $13.50/share for 6.6 mln shares).
Gapping Up
On strong earnings/guidance/same store sales: FSLR +31.6%, VG +23.2%, NTWK +21.9%, SRVY +12.5%, XOMA +11.5%, YTEC +9.6%, SI +9.4% (also announced Euro 10 bln buyback), ENER +9.1%, CBK +8.8%, CTRP +8.6%, YGE +7.8%, URBN +3.6%… Other solar names gapping up after FSLR’s blowout qtr: ESLR +16.5%, JASO +11.6%, ASTI +10.5%, CSIQ +8.9%, SPWR +8.6%, DSTI +7.7%, STP +7.6%, TSL +6.5%, LDK +6.0%, CY +6.2%), Metal mining stocks are strong after RTP rejected a proposal to be acquired by BHP, saying offer was too low: RTP +30.2%, AAUK +11.8%, RIO +6.3%, MT +5.8%, AA +4.8%, GOLD +5.8%, GFI +5.3%, CDE +4.7%, FCX +3.7%… Other news: RMBS +6.8% (signs memorandum of understanding with Intel).
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