On Today’s Calendar:

• 10:00 — Pending Home Sales
• 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: SNCR -46.0% (also downgraded to Market Weight at Weisel and downgraded to Hold at Needham), PRXI -12.2%, ASYT -9.1%, JKHY -9.1%, PRA -8.6%, THQI -6.6%, PNM -6.5% (also downgraded to Underperform at Wachovia), HK -6.4% (also announces $500 million offering of senior notes and announces public offering of 21,000,000 shares of common stock ), UTI -5.7%, CTSH -5.2%, MFB -5.1%, EXP -4.9%, OSUR -4.9%, CELL -4.9%, RFMD -4.3% (also announces strategic restructuring), HAR -4.0%, BIDZ -3.8%, CUTR -3.6%, GSX -3.2%, POL -3.0%, SAM -2.9%, AEG -2.5%, UPL -2.3%, TOT -2.1%, VCLK -2.1%, NILE -2.0%… Select Chinese names trading lower following weakness in overseas trading (Hang Seng closed -2.5%; Shanghai Composite closed -4.1%): SNP -4.0%, LFC -3.7%, ACH -3.7%, CHL -3.1%, CN -1.2%… Other news: PAA -2.4% (announces offering of common units), ITRI -2.1% (announces sale of 3.4 million shares of common stock at $94.47), BZH -2.1% (discloses in 8-k that it received a default notice from The Bank of New York Trust Company National Association), UBS -1.8% (still checking), CEPH -1.7% (announces FDA advisory committee recommendation against approval of an expanded label for FENTORA), BHP -1.5% (still checking)… Analyst downgrades: GGC -10.9% (downgraded to Sell at Citigroup), PTR -5.6% (downgraded to Underweight at JPMorgan), IPHS -4.7% (downgraded to Neutral from Outperform at Credit Suisse), BYD -3.5% (initiated with Sell at BofA), CTRP -3.2% (downgraded to Neutral at Piper), SOHU -2.7% (downgraded to Hold at Deutsche Bank), IAR -2.5% (downgraded to Equal Weight at Lehman), NITE -2.4% (downgraded to Equal Weight at Lehman), FTEK -1.3% (downgraded to Equal Weight at Morgan Stanley), KOF -1.1% (downgraded to Equal Weight at Morgan Stanley).

Gapping Up

In reaction to strong earnings/guidance: UTSI +20.5%, MFLX +18.3%, KOPN +13.3%, SVR +11.6% (also upgraded to Overweight at Lehman), OPTV +11.6%, ONNN +10.4%, GRS +9.5%, CHRD +7.9%, AOB +7.2%, LMIA +7.2%, GMXR +6.1%, ZGEN +5.2% (also upgraded to Hold at Citigroup), MCHX +4.8%, AFN +4.2%, CRL +4.0%, XCO +4.0%, LXU +3.7%, PACR +3.4%, RIG +3.4%, OSIP +3.2%, WMS +2.8%, DVN +2.2%, DIS +2.0%, FTO +1.8%, TIE +1.6%… Other news: CLWR +13.8% (Clearwire and Sprint close to announcing $12 bln joint venture), SPPI +10.6% (Par Pharmaceutical acquires Spectrum Pharmaceutical’s interest in sumatriptan injection), S +7.7% (Clearwire and Sprint close to announcing $12 bln joint venture), EP +3.7% (still checking), MBI +2.8% (issued letter to shareholders), XTO +1.8% (Cramer makes positive comments on MadMoney), MOT +1.5% (Carl Icahn discloses 7.6% stake in amended 13D filing; up from 6.4% last reported on 3/27)… Analyst upgrades: TLCV +23.2% (upgraded to Sector Outperform at CIBC), VDSI +6.0% (upgraded to Buy at Jefferies), MF +5.5% (upgraded to Overweight at Lehman), YRCW +4.7% (upgraded to Overweight at Stephens), CNET +2.4% (initiated with Buy at Kaufman), APC +2.1% (upgraded to Outperform from Market Perform at Bernstein; also Cramer makes positive comments on MadMoney), CMCSA +1.6% (upgraded to Buy at Soleil), RHD +1.6% (upgraded to Hold at Deutsche Bank), SLE +1.3% (upgraded to Market Perform at Wachovia).

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