Watchlist for April 17, 2008

The futures last steam overnight and are now indicating a slightly lower open. I guess Merrill Lynch's numbers are to blame. There's potential for more than the usual amount of chop today thanks to expiration games and two 10:00 economic reports.

On Today's Calendar:

10:00 -- Leading Indicators
10:00 -- Philadelphia Fed

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: BGG -14.6%, CMOS -13.8%, EPIC -12.0%, NOK -11.0%, CNW -9.8%, PLCM -9.0%, WTS -8.4%, SFN -7.6%, CIT -4.9%, HOG -4.9%, DHR -4.8%, IGT -4.6%, SPWR -4.6%, ISIL -4.4%, PFE -3.8%, BBT -3.4%, CMA -3.0%, TBI -3.0%, GILD -2.5%, EBAY -2.2%, MER -2.2%, PNC -2.1%, LSTR -1.8%, UTX -1.5%... Other news: VPHM -5.9% (announces discontinuation of HCV-796 development), FTE -4.9% (eyes bid for TeliaSonera - Financial Times), CHINA -4.8% (says CDC Software expects total revs for Q1 of 2008 to be between US$84.6-$85.6 mln), HGSI -4.8% (reacquires GSK rights to TRAIL receptor antibodies in return for reduction in Syncria royalties), MTH -4.7% (announces public offering of common stock), ERIC -3.1% (down in sympathy with NOK), NVS -1.8% and AZN -1.5% (down in sympathy with PFE)... Analyst downgrades: BMI -4.0% (downgraded to Underperform at Baird), HGSI -4.0% (downgraded to Hold at Citigroup), USU -3.6% (initiated with Sell at Merrill), ODFL -2.4% (downgraded to Neutral at Baird), IP -1.5% (downgraded to Neutral at Credit Suisse), X -1.4% (downgraded to Hold at Citigroup), MT -1.4% (downgraded to Neutral at HSBC), PG -0.9% (downgraded to Hold at Deutsche Bank).

Gapping Up

In reaction to strong earnings/guidance: AVCT +17.6%, ALTR +9.4%, DTLK +8.7%, GKK +7.1%, KNL +6.7%, LEG +6.6%, CCK +6.3%, CAVM +5.7%, ATR +4.0%, FHN +3.3%, TXT +2.9%, FCS +2.6%, IBM +2.4% (also upgraded to Buy and $150 tgt at Canaccord), CHKP +2.3%, TCBI +1.6%, CY +1.6%... M&A news: IDGR +2.6% (to be acquired by WCC for $11.75/share)... Other news: ABPI +35.8% (says independent DMC recommends presenting data on BiovaxID to FDA and worldwide regulatory agencies in order to seek marketing approvals for Follicular Non-Hodgkin's Lymphoma), AVAN +28.9% (Pfizer and AVANT enter into licensing and development agreement for novel therapeutic vaccine candidate for brain cancer), SPPI +7.6% (presents data on lucanthone; preclinical data demonstrates potential applications in lung cancer therapy), ICO +5.6% (still checking), TASR +3.8% (receives follow-on overseas order for TASER cartridges), ISIS +2.8% (GSK and Regulus Therapetuics, JV between ALNY and ISIS, form strategic alliance to develop MicroRNA targeted therapeutics to treat inflammatory diseases)... Analyst upgrades: OMTR +5.3% (upgraded to Buy at Citigroup), CPHD +1.4% (upgraded to Buy at UBS), HK +1.4% (initiated with Buy at UBS).