Watchlist for April 9, 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: ACAT -12.5%, FORM -4.9%, ACLI -7.2%, MBWM -7.0%, PTRY -5.9%, GBX -5.4%, IMNY -3.9% (also downgraded to Hold at Roth Capital), SGR -2.6% (also SGR and Westinghouse sign landmark EPC contract for new nuclear power generation), SPSN -2.0% (also downgraded to Neutral at FTN Midwest), EOG -1.1% (guides Q1 contract gains/losses disclosed in an 8-K)... Select Chinese names showing weakness: CN -7.7%, ACH -4.0%, PTR -3.0%, LFC -2.6%, SNP -2.4%... Other news: MNKD -45.3% (trading lower following termination of  PFE/NKTR news of concerns over new data on inhaled insulin; MNKD also has an inhaled insulin product), NKTR -30.5% (terminates all negotiations with potential partners for inhaled insulin; increased number of lung cancer cases observed in ongoing clinical studies of inhaled insulin patients; also downgraded to Hold at Soleil), ALKS -5.9% (in sympathy with NKTR and MNKD), CDS -3.9% (files $47.2 mln securities shelf offering in an S-3), WM -2.6% (WSJ discusses WaMu's "costly rescue"), BEN -2.4% (announces month-end assets under management), FDX -1.6% (down in sympathy with UPS guidance), LEH -1.5% (files 10-Q filing, says Level 3 assets totaled 42.5 bln as of Feb 29), AMR -1.2% (may cancel flights again today for jet inspections - Bloomberg.com), AGEN -1.0% (to raise $21 mln in private placement)... Analyst downgrades: AMAG -11.1% (downgraded to Sell from Neutral at Merrill), BARE -8.7% (downgraded to Neutral at tier 1 firm), LAYN -3.8% (downgraded to Hold at Morgan Joseph), BBBY -3.0% (downgraded to Sell at Piper Jaffray), EL -2.4% (downgraded to Sell at Piper Jaffray), COCO -2.2% (downgraded to Mkt Perform at Piper Jaffray), CRM -2.2% (downgraded to Mkt Perform at Bernstein), PCU -2.0% (initiated with Sell at Citigroup), NHP -1.8% (downgraded to Hold at Keybanc), ESI -1.7% (downgraded to Neutral from Buy at Piper Jaffray), URBN -1.7% (downgraded to Neutral at Piper Jaffray), MSM -1.5% (downgraded to Hold at Jefferies), ACI -1.3% (downgraded to Neutral at HSBC), KMB -1.2% (downgraded to Sell at tier 1 firm), RRC -1.1% (downgraded to Equal Wt at Morgan Stanley), ING -1.1% (downgraded to Underperform at Keefe Bruyette).

Gapping Up

In reaction to strong earnings/guidance: ZZ +15.5% (also upgraded to Outperform at Morgan Keegan), CPKI +5.3%, SIG +5.2%, CC +4.9%, MIND +4.7%, WBSN +4.6%, XRM +3.1%... M&A news: EPMD +87.2% ( to be acquired by St. Jude Medical; shareholders will receive $3.00), IOM +4.1% (EMC Corp to acquire Iomega in a cash tender offer of $3.85/share)... Other news: SPR +10.7% (disclosed in 8-k that co and Boeing amended their existing B787 supply agreement), TGEN +9.9% (announces publication of preclinical data 'Supporting the Use' of AAV Vectors to deliver siRNA), CRXL +6.9% (Aeras, Crucell and SATVI announce 'Encouraging' preliminary results of tuberculosis vaccine clinical trial in South Africa), PMRY +5.6% (comments on Schedule 13D filing proposing $7.05/share takeover, co will consider offer), VASC +5.4% (announces settlement of patent litigation with Diomed; one-time payment of $3.586 mln to Diomed), FMD +2.9% (modestly rebounding after yesterday's decline 30%+), C +2.3% (near deal to sell $12 bln loans to private equity - FT), WBD +2.2% (Cramer makes positive comments on MadMoney), IBN +2.1% (still checking), ERIC +1.9% (chief reiterates outlook and plan to take market share - Bloomberg), HON +1.8% (wins $23 bln contract to supply next generation HTF7500-E turbofan propulsion system for New Embraer business jets), BP +1.5% (BP and ConocoPhillips plan Alaska gas pipeline - NY Times), AZN +1.5% (modestly rebounding after yesterday's decline), BA +1.3% (revises 787 first flight and delivery plans; adds schedule margin to reduce risk of further delays; 'no change to '08 earnings guidance'), CMCSA +1.2% (asks court to overturn FCC decision on set-top boxes -- Bloomberg), FRE +1.1% (requires remediation plan from PMI Mortgage Insurance after ratings downgrade)... Analyst upgrades: GTI +3.1% (upgraded to Outperform at Oppenheimer), FRP +2.2% (upgraded to Buy at Soleil).

Disclaimer & How I use this list