Watchlist for February 12, 2008

The futures were flat as a pancake this moring until Warren Buffett announced his offer to reinsure municipal bond insurers (ABK, FGIC and MBI). That news sparked some optimism in the futures and we're now set for a little pop on the open. Let's see if the excitement lasts throughout the session and if the indices can breakout of their consolidations.

On Today's Calendar:

nothing

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: ZOLT -18.8%, DY -16.3% (also downgraded to Mkt Perform at Friedman Billings), MAS -12.7%, IMM -11.2%, BRKS -10.7%, IMB -9.2%, VRTX -8.8%, EMS -7.6%, ASEI -6.7%, PSEC -5.6%, EXPD -4.0%, ANR -3.9%, FOE -3.5%, ANSV -2.8%, ARGN -2.5%, GM -2.4%, TEVA -1.7%, LNCR -1.6%... Other news: CDS -2.8% (announced an agreement for $12.95 mln equity private placement ), ESLR -2.2% (prices a 16 mln share common stock offering at $9.50/share), AZN -1.7% (may spin off drug research unit to venture capitalists - Times of London)... Analyst downgrades: MTZ -3.5% (downgraded to Mkt Perform at Friedman Billings), PNM -2.6% (downgraded to Hold at Citigroup and downgraded to Equal-weight Lehman), BDN -2.1% (downgraded to Sell at Stifel), WSH -1.2% (downgraded to Equal Weight at Lehman), SII -1.0% (downgraded to Neutral at UBS).

Gapping Up

In reaction to strong earnings/guidance: GLUU +12.6%, CPST +11.3%, TWTC +8.4% (upgraded to Outperform from Market Perform at Raymond James), NUAN +4.6%, WYN +4.2%, NDN +3.7%, BXC +2.8%, Q +2.3%, CMP +2.2%, PACR +2.0%, FWRD +2.0%, MON +1.8%, XTO +1.7%, CUZ +1.4%, VECO +1.1%, QGEN +1.1%... M&A news: GCT +60.1 (American Campus Communities to acquire GMH Communities Trust)... Bond insurers trading higher following report that Buffett sent offer to reinsure municipal bonds of MBI, ABK & FGIC: SCA +9.3%, PMI +3.9%, ABK +3.1%, XL +2.0%, MBI +2.0%... Other news: DEPO +22.3% (reports 'positive' efficacy data from a Phase 2 trial of Gabapentin GR in the treatment of menopausal hot flashes), DYAX +18.0% (enters into antibody agreements with Sanofi-Aventis for the fully human monoclonal antibody DX-2240 and phase display technology), ALDA +17.2% (declares $5.00/share special cash dividend and signs credit facility for up to $15 mln), BCS +3.7% (still checking), DAI +3.7% (still checking), MT +3.2% (still checking), HME +2.6% (to be added to S&P 600), BHP +2.5% (co issued letter to shareholders regarding its RTP takeover attempt; copper prices rose for fifth day in a row in Asia - Bloomberg.com)... Analyst upgrades: CBEY +4.2% (upgraded to Outperform at Raymond James), SNCR +4.1% (initiated with a Buy at Needham), TWX +2.3% (upgraded to Buy at UBS), PCP +1.7% (hearing added to Conviction Buy List at tier 1 firm), SLB +1.6% (upgraded to Outperform at Bear Sterns).