Watchlist for May 5, 2008

I'll have MSFT and YHOO front & center on my screen today now that Microsoft has withdrawn their bid. Here's a quick look at the indices. Of course the market kicked in to gear while I was out of town...

On Today's Calendar:

10:00 -- ISM Services

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: AIN -5.1%, HAIN -2.5%... Other news: YHOO -23.6% (MSFT withdraws proposal to acquire Yahoo; also multiple analyst downgrades), ACAS -6.3% (WSJ article says a new accounting rule governing the use of market values for financial assets could force ACAS to bring its valuations down; also downgraded to Reduce at UBS), WM -2.1% (filed S-3 ASR for resale of up to ~605.44 mln shares of common stock and up to ~36.6k shares of Series S Contingent Convertible Perpetual Non-Cumulative Preferred Stock), CSCO -1.2% (checking for any news; co reports earnings tomorrow afternoon)... Analyst downgrades: CFC -9.7% (downgraded to Underperform at FBR), IR -2.6% (downgraded to Underweight at Morgan Stanley), ARTC -2.4% (downgraded to Negative at Susquehanna), PSPT -2.3% (downgraded to Mkt Outperform at JMP), OB -1.8% (downgraded to Mkt Perform at Keefe Bruyette), SWKS -1.8% (downgraded to Accumulate at ThinkPanmure).

Gapping Up

In reaction to strong earnings/guidance: ALVR +10.2%, STEC +8.3%, CLR +7.2%, MVL +5.8%, GG +2.8%... Select metals/mining stocks showing strength with higher spot prices: FCX +3.1%, AU +2.8%, AUY +2.5%, HMY +2.2%, LMC +1.7%, ABX +1.6%, BHP +1.2%, PCU +1.2% GLD +1.2%... Other news: DSCO +24.1% (provides guidance on FDA Approvable Letter for Surfaxin for RDS; approvable letter may be completed in 6-8 weeks), S +7.5% (Deutsche Telekom may bid for Sprint Nextel - WSJ), GOOG +3.4% (still checking), GA +3.3% (announces it reaches peak concurrent users of over 344,000), MSFT +2.6% (withdraws proposal to acquire Yahoo; also hearing resumed with Buy at tier 1 firm), TWX +2.1% (MSFT withdraws proposal to acquire Yahoo), VOLC +2.0% (announces participation in SATURN clinical trial sponsored by AstraZeneca), DOV +1.7% (Cramer makes positive comments on MadMoney), QI +1.4% (co and Centrosolar Group AG sign a contract to jointly build, equip and operate a solar cell manufacturing plant)... Analyst upgrades: MGI +3.8% (upgraded to Buy at Calyon), TSFG +2.0% (upgraded to Outperform from In Line at Fox-Pitt), EVVV +1.8% (upgraded to Outperform at FBR), NWY +1.6% (upgraded to Buy at Brean Murray).