Watchlist for May 28, 2008

We've got some strength this morning. The futures were indicating a higher open earlier today and they got an extra boost from the 8:30 Durable Goods Report. Hopefully we'll get some more volume today...

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 disappointing earnings/guidance: SNDA -7.4%, JMBA -3.2%, CCE -2.9%... Select oil/gas names showing weakness with crude trading lower: BP -2.0%, STO -1.5%, TOT -1.3%, E -1.0%... Select metals/mining stocks showing modest weakness with strength in the dollar: AUY -2.8%, HL -2.1%, ABX -1.7%, GOLD -1.3%, GLD -1.3%, GFI -1.1%, PAL -1.1%... Other news: MDCO -9.2% (receives FDA review letter for Angiomax Supplemental Filing; reaffirms 2008 Angiomax U.S. sales guidance of $310-320 mln), KEY -7.4% (disclosed that it is updating its previous outlook for net loan charge-offs for 2008), PSEC -6.4% (announces commencement of public offering of 3 mln shares of common stock), LOJN -4.3% (reports resignation of CFO), BSX -3.3% (announces court decision; jury found that certain Boston Scientific balloon catheters and stent delivery systems infringe Medtronic's patents and that the patents are valid), ADM -3.0% (files for a 35 mln share equity unit offering), RBS -2.5% (Generali quits race for RBS insurance wing - FT), HERO -1.5% (announces a $250 mln convertible notes private placement offering)... Analyst downgrades: CTB -3.5% (downgraded to Sell at Merrill), LYG -3.1% (downgraded to Underperform at Credit Suisse), OVTI -2.1% (downgraded to Market Perform at Oppenheimer), EXC -1.0% (downgraded to Hold at Citigroup).

Gapping Up

In reaction to strong earnings/guidance: VSNT +10.2% (light volume), RL +7.8%, AEO +6.3%, DCI +6.3%, COGT +5.4%, WX +3.4%, DLTR +1.4%... Select airline stocks showing strength with crude trading sharply lower: DAL +6.4%, UAUA +5.4%, NWA +5.3%, AMR +4.2%, LCC +4.7%, CAL +4.3%... Other news: FORD +16.3% (enters into new license agreement with Motorola), CKXE +3.8% (agrees to revised buy out offer from 19X), DAR +3.7% (will replace PFGC in the S&P SmallCap 600), RCL +3.3% and CCL +1.2% (showing modest strength with crude sharply lower), SAP +3.2% (rose in German trade after upgraded by the French broker Cheuvreux - Bloomberg.com), SWN +3.1% (will replace TT in the S&P 500 after the close on 6/5), KDN +2.4% (Cramer makes positive comments on MadMoney), MT +2.0% (still checking), ALU +1.9% (still checking), YHOO +1.9% (MSFT CEO says co speaking with YHOO but offers no details - WSJ), SPW +1.8% (Cramer makes positive comments on MadMoney), CBSH +1.4% (will replace SWN in the S&P MidCap 400 after the close of trading on 6/5)... Analyst upgrades: QSFT +4.4% (Hearing added to tier-1 firm's Buy List), BCON +3.5% (initiated with Buy at Kaufman), UPS +2.8% (upgraded to Buy at Merrill), NVDA +2.4% (upgraded to Market Outperform at JMP), AKNS +2.4% (initiated with Buy at Kaufman), ADBE +2.3% (upgraded to Hold at Jefferies), MET +1.6% (upgraded to Buy at Merrill), AMLN +1.3% (upgraded to Equal Weight at Lehman).