Watchlist for January 31, 2008

See one of the recent 'Chart Reading' posts for some potential swing candidates. Also be sure to check my typical swing trade entry & exit rules.

Potential day trades:

(From Briefing.com)

Gapping Down

In reaction to weak earnings/guidance: ARAY -30.6% (also downgraded to Hold at Soleil), CDNS -21.7% (also downgraded to Underweight at JPMorgan), BLOG -18.4%, DWCH -16.7%, OVEN -14.6%, AMZN -12.0%, MBI -10.5% (also S&P reviewing debt securities), HSTX -9.3% (also downgraded to Hold at Morgan Joseph), RNOW -8.4%, CAM -8.3%, GSOL -7.7%, MTSN -6.8% (also downgraded to Average at Caris), ASX -6.8%, DCP -6.6%, HHS -4.9%, OIIM -4.6%, NEWP -4.5%, HERO -4.5%, PHM -4.2%, VOD -4.2%, NVLS -3.8%, SBUX -3.7% (also downgraded to Accumulate at ThinkEquity), HOLX -3.7%, NDAQ -3.7%, HBI -3.5%, AFL -3.2%, VIRL -3.1%, EQT -2.8%, GMCR -2.6%, MIPS -2.1%, HOT -2.1%, ICE -1.7%, CVD -1.2%, ATK -1.1%... Select financial names showing weakness with S&P review of debt securities having 'ripple impact' on the financial markets: BCS -7.4%, ING -5.4%, DB -4.0%, C -3.0%, MER -2.7%, BSC -2.5%... Other news: TSL -12.0% (announces management changes and resignation of CFO), ABK -7.8% (S&P reviewing debt securities), BZH -7.8% (down in sympathy with PHM), CFC -2.6% (confirms Florida subpoena - WSJ), JCP -1.3% (to merge operations, cut jobs - WSJ), LLY -1.1% (working on a settlement with federal prosecutors on Zyprexa, which could result in LLY paying $1 bln in fines)... Analyst downgrades: UBS -7.5% (downgraded to Underweight at Morgan Stanley), ADBE -5.0% (downgraded to Underperform at Jefferies), RL -4.5% (downgraded to Neutral at BofA, downgraded to Underperform at Morgan Keegan), MNST -3.9% (downgraded to Hold at Deutsche Bank), YUM -3.7% (downgraded to Hold at Deutsche Bank), BHI -1.9% (downgraded to Underperform at RBC, downgraded to Mkt Perform at Wachovia), CENX -1.9% (downgraded to Mkt Perform at FBR), SLB -1.7% (downgraded to Sector Perform at RBC).

Gapping Up

In reaction to strong earnings/guidance: CNQR +14.3%, OI +10.7%, RSTI +9.9%, SMCI +8.4%, ADS +7.7% (also upgraded to Outperform at JMP and Wachovia), MC +7.4%, ITG +7.3%, MA +5.8%, TSCO +5.5%, FLO +4.9%, FSTR +4.8%, EGHT +4.8%, ISSC +4.3%, MAT +4.2%, HRS +3.6%, TSM +3.5%, MLNX +3.4%, UTEK +3.1%, KEX +2.9%, ESLR +2.7% (also ESLR and DC Chemical announce second polysilicon supply agreement), MUR +2.4%, CL +2.0%, CTS +1.9%, CRR +1.7%, CAI +1.5%, CCK +1.5%, UA +1.1%... M&A news: ADBL +22.2% (to be acquired by Amazon for $11.50 per/share)... Other news: KOG +14.3% (announces definitive Vermillion Basin exploration agreement with DVN), EMKR +6.7% (enters into a multi-year agreement to supply solar concentrator photovoltaic systems for utility scale power projects), MEH +3.0% (announces DoJ closes investigation of pending acquisition of Midwest Air Group; transaction expected to close 1/31), AMAG +3.0% (provides additional clinical information on ferumoxytol), BAS +1.5% (announces two acquisitions; acquisitions are anticipated to be accretive to earnings in 2008), EBHI +1.3% (announces a reorganization of their corporate staff; job cuts represent an aggregate of 16% of the corporate staff), MMA +1.3% (completes bond refinancing).

Disclaimer & How I use this list