Watchlist for May 27, 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 disappointing earnings/guidance: FTK -15.1%, VOD -1.8%... Select financial names showing weakness with UBS (-13.9%) saying more mortgage losses possible - Bloomberg.com and BofA slashing ests on select firms: CS -3.6%, LEH -3.4% (estimates cut at BofA), RBS -2.9%, MER -1.8% (estimates cut at BofA), DB -1.1%... Select metals/mining stocks showing weakness with modestly lower spot prices: PAL -4.4%, AUY -3.6%, RTP -2.9%, HMY -2.3%, MT -2.2%, BHP -1.7%, GOLD -1.3%, GLD -1.1%... Select oil/gas names trading lower with slight pullback in crude: STO -4.1%, BP -1.6%, E -1.3%, TOT -1.3%... Other news: CHL -5.5% (WSJ reports the restructuring of China's telecommunications sector would put pressure on CHL's competitive edge; also hearing downgraded to Sell at tier 1 firm), IFX -5.1% (WSJ reports that CEO to step down; also STM says buying Infineon wireless ops wouldn't make sense - DJ), IOSP -4.6% (discloses the U.K.'s serious fraud office notified Innospec Limited that it had commenced an investigation), ERIC -2.6% and NOK -2.2% (still checking for anything specific), AMCP -1.1% (receives notice from Florida office of insurance regulation regarding excessive profits filing)... Analyst downgrades: MRVL -3.7% (hearing downgraded to Neutral at tier 1 firm), GSK -2.0% (downgraded to Underweight at Morgan Stanley), GM -2.0% (downgraded to Hold at Citigroup), BWA -1.8% (downgraded to Hold at Keybanc).

Gapping Up

In reaction to strong earnings/guidance: CEDC +2.1%... Select Chinese Telecom names showing continued strength from telecommunications industry reorganization reports: CN +10.5%, CHU +8.9%, CHA +4.6%... Select solar stocks showing modest strength: ASTI +6.5% (initiated with an Outperform at Cowen), SOLF +2.7%, ESLR +2.6%, CSUN +2.5%, LDK +2.3%, CSIQ +1.3%... Other news: CEM +15.4% (Blackstone and Apollo in talks with Chemtura - FT), LEI +14.8% (announces 150% increase in PV-10 for full fiscal year ended march 31, 2008), SPF +9.9% (receives MatlinPatterson equity commitment totaling in excess of $530 mln), STP +3.4% (announces strategic investment in Shunda and 7GW wafer supply agreement), BUD +1.3% (InBev may start Anheuser bid talks Tuesday - Reuters)... Analyst upgrades: NGAS +5.0% (upgraded to Outperform from Market Perform at BMO Capital), LCAV +4.3% (upgraded to Sector Perform at RBC), NFX +2.6% (upgraded to Buy at Keybanc), AG +2.0% (upgraded to Outperform at Credit Suisse), WLP +2.0% (upgraded to Outperform from Market Perform at BMO Capital), AXL +1.1% (upgraded to Buy at Citigroup).

Disclaimer & How I use this list