Watchlist for May 30, 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: QADI -24.4%, JCG -18.4% (also downgraded to Sell at Citigroup and downgraded to Market Perform at Wachovia), SIGM -16.7% (also downgraded to Sector Perform at RBC, downgraded to Hold at Lazard Capital and downgraded to Hold at Roth Capital), MDCI -15.9%, OVTI -6.7%, TCM -2.6% (light volume)... Other news: DB -5.9% (stock goes ex-dividend today for $5.50 dividend), JBLU -4.1% (prices offering of 44.9 mln shares of common stock at $3.70; co also announced the pricing of it convertible debentures offering), ALTH -3.6% (announces the closing of its previously announced public offering at a public offering price of $5.64/share), UAUA -3.5% and LCC -2.8% (merger of United Airlines, US Airways is off the table for now - WSJ; LCC's CEO says consolidation involving US Airways will not occur at this time), UBS -2.2% (still checking), BHP -1.3% (notifies EU Regulator of Rio bid, triggers review - Bloomberg.com), SAP -1.0% (still checking)... Analyst downgrades: IDTI -5.2% (downgraded to Neutral at Cowen), OSTK -4.4% (downgraded to Sell at Merrill), SPC -1.4% (downgraded to Market Perform from Outperform at BMO Capital), TSU -1.0% (downgraded to Underweight at Morgan Stanley).

Gapping Up

In reaction to strong earnings/guidance: MRVL +17.0% (also upgraded to Outperform at Oppenheimer and upgraded to Overweight at JPMorgan), ITI +11.1%, DELL +9.9% (also upgraded to Buy at Merrill), WIND +8.3%, FRPT +6.1% (also announces that the co and General Dynamics look to expand partnership - Bloomberg), GHM +5.7% (very light volume), WTSLA +4.0% (also upgraded to Overweight at JPMorgan), HEI +2.8%, TIF +2.7%, SEAC +2.2%... M&A news: KNTA +64.7% (to be acquired by BLKB for $1.12/share), QNTA +41.0% (to be acquired By Catalina Holdings for $2.80/share in cash), FIRE +13.1% (Barracuda Barracuda Networks proposes to acquire Sourcefire for $7.50/share in cash; FIRE subsequently rejects unsolicited acquisition proposal)... Select solar stocks set to gap up on reports of lower German subsidy cuts: FSLR +7.1%, STP +6.7%, JASO +6.4%, SPWR +6.3%, SOL +5.9%, CY +5.4% (majority shareholder of SPWR), YGE +5.3%, LDK +4.2%, AKNS +4.0%, ESLR +3.9%, ASTI +3.4%... Other news: HRS +6.1% (began fielding expressions of interest from potential buyers this week, with preliminary bids for the co arriving in the low $70/share range - WSJ), ES +4.5% (wins Department of Energy tank operations contract at Hanford: DOE values the contract at $7.1 bln), CSU +2.5% (co's special committee engages financial advisor), F +2.4% (Tracinda waives tender offer condition relating to Ford share price decline), PEIX +2.3% (closes $28.5 mln financing through the sale of 6.0 mln units), AMAT +2.1% (Abu Dhabi Future Energy is significantly expanding its investment in solar energy by contracting with Applied Materials), ITW +1.6% (Cramer makes positive comments on MadMoney)... Analyst upgrades: SNE +4.3% (upgraded to Buy at tier 1 firm), ADCT +2.4% (upgraded to Overweight at JPMorgan), CLHB +2.2% (upgraded to Outperform at Baird), AIG +2.0% (upgraded to Overweight at Morgan Stanley), PBR +1.9% (Hearing upgraded to Buy from Neutral at tier 1 firm), BIG +1.4% (upgraded to Buy at Piper), PCL +1.3% (upgraded to Buy at Merrill), AREX +1.0% (initiated with Buy at Canaccord).

Disclaimer & How I use this list