What a morning this has been already. First the Microsoft bid for Yahoo sent the futures into orbit and even lifted GOOG 20 points off it's post-earnings lows. Then the Payroll Report brought the market back to where it started. I don't know which way things will be resolved today but it should be a fascinating ongoing drama in the internet space for several months.
On Today's Calendar:
- 10:00 -- Construction Spending
- 10:00 -- Mich Sentiment-Rev.
- 10:00 -- ISM Index
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. 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: AVID -15.1% (also downgraded to Sell at Kaufman), OMCL -14.3%, ACTU -11.9%, DRIV -11.3%, MIL -10.2%, COLM -8.6%, MXIM -8.4% (also downgraded to Hold at Jefferies and downgraded to Sell at Citigroup), BEBE -7.1%, SXE -6.9%, GOOG -5.5% (also downgraded to Hold at Jefferies), ABAX -4.8%, MNT -4.6% (also downgraded to Neutral at Merriman), MCK -4.5%, PFWD -4.1%, SYMM -3.9%, TRID -3.8% (also downgraded to Sell at Roth Capital), ERIC -3.7%, RFMD -3.7%, MCRL -3.1%, SMTL -3.1%, ZIGO -3.1%, ELY -3.0%, CPSI -2.7%, ERTS -2.4%, CMI -2.2%, EXAR -1.2%... Other news: BVF -5.1% (receives letter related to 2003 Cardizem LA launch activities from US Attorney's Office), MSFT -4.0% (proposes acquisition of Yahoo! for $31/share), EPIX -3.8% (reaches agreement with FDA on protocol, initiates re-read of Vasovist Phase 3 images), SLW -2.2% (GG announces secondary offering of its entire 48% interest In SLW)... Analyst downgrades: TIVO -3.1% (downgraded to Underperform at FBR, downgraded to Underperform at William Blair), PHM -3.1% (downgraded to Sell at Merrill), FHN -3.0% (hearing added to Conviction Sell List at tier 1 firm), CTX -2.5% (downgraded to Sell at Merrill), LEN -2.1% (downgraded to Neutral at Merrill), WFC -2.0% (downgraded to Underweight at Morgan Stanley), LSTR -1.9% (downgraded to Hold from Buy at Stifel), SYT -1.8% (downgraded to Sell at UBS), AZN -1.8% (downgraded to Neutral at HSBC), LOW -1.4% (downgraded to Hold at Citigroup), EXAR -1.2% (downgraded to Neutral at Piper Jaffray).
Gapping Up
In reaction to strong earnings/guidance: PAR +22.0%, STAR +17.3%, AIRT +17.3%, SIMO +16.9%, ISRG +16.1%, INFN +12.9% (also upgraded to Buy at Jefferies), , SWIR +11.4%, FLS +10.2% (also upgraded to Outperform at Bear Stearns), DLB +9.5%, EL +7.8%, COGO +6.4%, MCRS +6.4%, XPO +5.9%, CA +5.9% (also upgraded to Outperform at RBC), LAVA +5.3%, PEG +5.2%, ONNN +4.8%, TSRA +4.7%, AFFX +4.6%, IWOV +4.4% (also upgraded to Buy at ThinkEquity), ALTR +3.3%, CLS +2.3%, FMD +1.9%, XOM +1.9%, DNEX +1.7%, RDEN +1.4%... M&A news: YHOO +54.8% (MSFT proposes acquisition of YHOO for $31/share), CAO +34.5% (receives acquisition proposal from ORLY for $8/share in cash), TMTA +4.0% (receives unsolicited indication of interest from Riley Investment Management for $15.50/share in cash)... Select tech stocks showing strength on news that MSFT made offer for YHOO: VCLK +5.4%, EBAY +4.9%, BIDU +2.5%, AMZN +1.8%... Select bond insurers trading higher following CNBC report that 8 banks may have rescue plan: ABK +16.8% (also issuer credit affirmed by S&P), SCA +14.9%, MBI +11.6%, PMI +8.4%... Other news: RTP +11.8% (Alcoa partners with Chinalco to acquire a 12% stake in RTP), MOT +10.9% (to explore structural and strategic realignment of its businesses to enhance shareholder value), BHP +9.5% (Alcoa and Chinalco's RTP stake could complicate BHP proposal to acquire RTP), ACH +8.6% (ACH teamed up with AA to purchase ~12% stake in RTP), JAZZ +5.0% (announces submission of complete response to FDA approvable letter for LUVOX CR), ETFC +4.6% (still checking), BRCM +4.1% (up in sympathy with MOT), BZH +3.3% (announced the discontinuation of mortgage origination services, establishment of a new marketing services arrangement with CFC and conclusions from its review), COF +2.3% (announces $2 billion share buyback and dividend increase), JCP +1.4% (Cramer makes positive comments on MadMoney)... Analyst upgrades: MEDX +5.1% (upgraded to Neutral at BofA), DIS +3.8% (upgraded to Outperform at Oppenheimer), NE +3.0% (upgraded to Overweight at Morgan Stanley), MFA +2.9% (upgraded to Buy at Stifel), ACS +2.6% (upgraded to Outperform at RBC), DTV +2.3% (upgraded to Outperform from Market Perform at Bernstein), PAS +1.5% (upgraded to Peer Perform at Bear Sterns).
Disclaimer & How I use this list
