Watchlist for May 29, 2008

The futures turned slightly negative after the 8:30 economic data. So were off to a choppy start but maybe the 10:30 oil inventories will give us some direction...

On Today's Calendar:

10:30 -- Crude Inventories

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: DCP -17.4%, IFX -13.1% (also downgraded to Sell at Oppenheimer), KMGB -11.8%, NM -8.8%, JST -8.8%, MW -6.9%, LONG -6.0%, AINV -4.7%, MRCY -1.6% (light volume)... Select metals/mining stocks showing weakness with lower spot prices and strength in the dollar: SLV -3.9%, AU -3.4%, GLD -2.6%, AEM -2.5%, AUY -2.5%, GFI -2.2%, HMY -2.1%, BHP -1.9%, RTP -1.4%... Select solar names showing modest weakness with Merrill downgrading ESLR and SPWR to Sell: ESLR -6.3% and SPWR -4.1% (downgraded to Sell at Merrill), JASO -3.7%, STP -3.5%, TSL -3.3%, FSLR -3.1%, SOL -3.0%, CSIQ -2.4%, YGE -2.4%... Other news: ACEL -55.9% (preliminary results from ONCONASE Phase IIIb clinical trial; did not meet statistical significance for the primary endpoint), RBS -17.0% (Ping An says it did not submit bid for RBS insurance unit, leaves 5 candidates - Bloomberg), FTE -8.2% (approaches banks for 10 bln euros loan for unspecified acquisition - Reuters), ARD -4.8% (announces public offering of 2,175,000 shares of common stock), TTM -4.7% (approved raising about 72 bln rupees, or about $1.7 bln, through three separate rights issues - WSJ), CYTK -4.1% (announces that an abstract summarizing data from its Phase I/II clinical trial evaluating its drug candidate SB-743921 is planned to be presented at the 10th International Conference on Malignant Lymphoma), ALU -3.9% (still checking), ADM -2.3% (prices equity units offering of up to $2.0 bln and will issue 35.0 mln equity units with a stated amount of $50 per unit), WR -2.1% (announces public offering of its common stock of 6 mln shares), NOK -1.3% (cut its forecast for profit and sales from communications chips because of fewer-than-anticipated orders and a delayed Nokia)... Analyst downgrades: CHS -4.4% (downgraded to Sell from Hold at Citigroup), JEF -4.4% (downgraded to Sell at Merrill), SNDA -4.2% (downgraded to Hold at Citigroup), NFLX -2.4% (downgraded to Market Weight at Weisel), SGMO -1.9% (initiated with a Sell at Brean Murray), JNPR -1.8% (downgraded to Neutral at UBS), MIL -1.2% (downgraded to Neutral at Merrill).

Gapping Up

In reaction to strong earnings/guidance: NZ +10.6% (light volume), JAS +8.7%, BIG +7.6%, JOYG +4.7%, FRED +4.5%, ULBI +4.1% (light volume), HNZ +4.1%, GCO +3.7%, CWTR +2.7%, ESEA +2.1%, APSG +1.3%... M&A news: KOSN +218.2% (to be acquired by BMY for $5.50/share)... Other news: POWR +6.7% (awarded $30 mln of new business), IVAN +6.6% (to acquire oil sands assets from Talisman Energy), LCC +4.2% (US Airways, UAL CEOs to meet to discuss merger Thursday - WSJ), BUCY +2.9% (up in sympathy with JOYG), TRN +2.5% (Cramer makes positive comments on MadMoney), HIMX +2.4% (continued strength following yesterday's 15%+surge higher), OTTR +1.8% (Cramer makes positive comments on MadMoney), UAUA +1.8% (US Airways, UAL CEOs to meet to discuss merger Thursday - WSJ), OC +1.5% (Cramer makes positive comments on MadMoney)... Analyst upgrades: EXPE +2.6% (upgraded to Buy at Stifel Nicolaus), MFA +1.7% (upgraded to Outperform at Keefe Bruyette), NSC +1.1% (upgraded to Buy at Merrill), HK +1.0% (initiated with a Buy at Stifel Nicolaus).