Watchlist for February 28, 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: SEED -33.5% (also announces it has licensed a new genetically modified corn to officially introduce the next generation of corn product into China), AIRN -17.2%, PDGI -16.1%, FIRE -12.1% (also announces Wayne Jackson to step down as CEO), S -11.3%, DRCO -9.4%, MYL -8.7%, SFI -8.1%, ESPD -7.9%, WG -5.6%, AMSF -5.4%, COWN -4.3%, WNR -4.0%, GSIG -3.8%, GMR -3.0%, GMKT -2.9%, SWX -2.8%, IPGP -2.4%, CEDC -2.4%, SHLD -2.1%, TS -1.8%, CDR -1.8%, ARNA -1.3%... Select gold stocks showing weakness despite higher spot prices: DROOY -2.6%, GFI -1.8%, GOLD -1.7%, AAUK -1.4%... Other news: NGSX -39.7% (announces preliminary results from second Phase 3 clinical trial in HIV-DSP; primary and secondary endpoints do not achieve statistical significance), TMA -22.0% (may have to sell assets to meet margin calls), YTEC -4.2% (raises target of nation-wide POS installation base from 20k to 25k by the end of 2008), DHI -4.1% (down in sympathy with TMA), DSTI -3.9% (CFO Raja Venkatesh resigns, effective March 14), IMB -3.2% (still checking), UBS -3.0% (still checking), NNN -2.5% (prices offering of convertible notes; common stock or a combination thereof at an initial conversion price of $25.42 per share), FRX -1.5% (announces amendment to Bystolic Agreement; announces FRX will commercialize, develop and distribute Bystolic), LLY -1.2% (announces that FDA issues not-approvable letter for Zyprexa long-acting injection for Schizophrenia treatment), T -1.1% (down in sympathy with S), QCOM -1.1% (announces International Trade Commission will not review administrative law judge's initial determination in patent infringement complaint filed by Qualcomm against Nokia)... Analyst downgrades: PBKS -4.3% (downgraded to Sell from Hold at Sandler O'Neill), RFMD -4.0% (downgraded to Hold at Jefferies), WDC -2.9% (downgraded to Hold at Citigroup and downgraded to Neutral at UBS), STX -1.9% (downgraded to Hold at Citigroup), FRX -1.6% (coverage transferred and downgraded to Market Perform at Friedman Billings), AMAG -1.3% (downgraded to Neutral at Merrill), BWA -1.1% (downgraded to Neutral at JPMorgan).

Gapping Up

In reaction to strong earnings/guidance: AVCI +16.0%, DBRN +12.9%, NKTR +11.5%, LSR +8.7%, CRM +8.6%, CTRP +7.2%, MIDD +7.0%, VISN +6.7%, BRKR +6.0%, NRF +5.5%, FLS +5.4%, FLR +5.3%, MANT +4.5%, NUVO +3.6%, LTD +3.3%, AHT +3.1%, ZINC +3.1%, GEF +2.6%, UHT +1.8%, TELK +1.5%, GIFI +1.3%, MRX +1.2%... Other news: IMMC +22.2% (announces FDA clearance of the CellSearch circulating tumor cell kit for monitoring patients with metastatic prostate cancer), VRNM +12.8% (awarded U.S. Department of Energy grant to speed enzyme development for cellulosic ethanol production), DARA +10.0% (continued momentum from yesterday, announces appointment of new director to board), LTON +8.3% (PT Media Nusantara Citra extends tender offer for 6 mln ADS at $3.80), REGN +8.3% (announces that the FDA approves co's ARCALYST for treatment of cryopyrin-associated periodic syndromes), WPL +7.0% (has retained Merrill Lynch to review strategic alternatives; co postpones earnings release), XNPT +6.9% (Xenoport and GlaxoSmithKline report 'positive' top-line results of final pivotal trial of XP13512/GSK1838262 for restless legs syndrome), EOG +5.5% (still checking), RMBS +3.3% (still checking), APPL +2.5% (presents at Goldman Sachs conference; on track to sell 10 mln iPhones this year, unlocked phones are sign of great demand ), LVLT +2.5% (Level 3 and IBM announce patent cross-license), APPX +1.9% (receives final approval for Irinotecan Hydrochloride Injection), SU +1.1% (announces plans to implement a two-for-one share split)... Analyst upgrades: BBI + 4.7% (upgraded to Overweight at JPMorgan), CHINA + 3.4% (initiated with a Buy at Cantor Fitzgerald), CEM + 1.7% (hearing upgraded to Buy at tier 1 firm), BID + 1.4% (upgraded to Mkt Outperform at JMP).

Disclaimer & How I use this list