We're set for a pretty mild open despite the crushing some overseas market's have taken today, especially China (Shanghai). Unless some big news breaks, I'd be surprised to see a big move in our markets ahead of the Fed meeting on Wednesday.
On Today's Calendar:
- 10:00 -- New 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
In reaction to weak earnings/guidance: MELI -13.1% (also files for a $292.14 mln common stock offering), YRCW -9.9%, REDF -8.4%, BDK -6.9%, FSNM -5.4%, CRNT -5.1%, MCD -3.9%, ASH -2.1%, RDWR -1.3%, VZ -1.0%... Select gold stocks showing weakness on reports that South African mines remain shut as power supply was cut for fourth day: HMY -6.2%, AAUK -3.6%, GFI -3.0%, AU -2.3%... Select solar stocks showing weakness: CSUN -4.7%, LDK -4.2%, AKNS -3.3%, FSLR -1.3% (tgt lowered at Calyon)... Other news: ADS -34.5% (Blackstone Group, Aladdin Solutions do not anticipate the condition to closing the merger relating to obtaining approvals from the Office of the Comptroller of the Currency will be satisfied), ABK -11.6% (extends last week 91% decline), IMA -6.2% (announces plans to acquire MATR), MBI -5.6% (extends last week decline)... Analyst downgrades: RAVN -5.1% (downgraded to Sell at Piper), WAG -2.9% (downgraded to Sell at Citigroup), SHPGY -2.1% (downgraded to Underperform at Bernstein), NE -1.9% (downgraded to Neutral at JPMorgan).
Gapping Up
In reaction to strong earnings/guidance: GHM +12.5%, SILC +9.6%, GLW +5.5%, HAL +1.8%... M&A news: MATR +16.7% (to be acquired by Inverness Medical for $39.00 per share), LNY +10.7% (receives proposal from CEO to acquire all shares for $23.50/share)... Other news: ACOR +14.8% (announces successful thorough QT study of Fampridine-SR), ITI +6.2% (announces new contract worth over $1 mln), KWD +14.0% (will let stockholders decide on $21/share offer from SunCapital), SLM +5.6% (announces new financing agreement), SA +4.9% (announces gold resources increased 14% at SA's Noche Buena project), RSTO +4.7% (SHLD says it does not intend to pursue a transaction at the price set forth in the 11/23 letter, but may still be interested in evaluating a transaction), WCG +4.4% (announces appointment of Charles Berg as Executive Chairman and Heath Schiesser as President and CEO), MDR +1.6% (subsidiary receives major government contract awards), AVT +1.5% (Barron's makes positive comments), DT +1.0% (says has sold 70,000 iPhones - Reuters)... Analyst upgrades: GNTX +3.0% (upgraded to Neutral at UBS), FRNT +2.3% (upgraded to Neutral from Sell at Merrill), WNR +1.6% (upgraded to Neutral at Credit Suisse), MEDX +1.5% (upgraded to Buy at Jefferies), ZOLT +1.1% (upgraded to Buy from Accumulate at ThinkEquity), DVA +1.0% (upgraded to Neutral at Piper).
Disclaimer & How I use this list
Funny how overseas markets are more worried about a US recession than the actual US markets!