Watchlist for June 12, 2008

Posted on June 12th, 2008 in Watchlists

The futures are still indicating a pretty good bounce even after taking a hit on the news of Lehman axing their CFO and COO this morning. Once again I’ll be watching Lehman (already down over 6% in the pre-market) and I want to see if XLF touches its 2008 lows.

On Today’s Calendar:

10:00 — Business 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: EGR -24.8%, NCMI -8.7% (also downgraded to Hold from Buy at Soleil), CHDX -4.7% (light volume), NDN -4.2%… M&A news: IVGN -7.7% (announced it will acquire Applied Biosystems in a cash and stock transaction valued at $6.7 bln)… Select metals/mining stocks showing weakness with strength in the dollar: DROOY -4.8%, GFI -2.2%, AUY -2.1%, GG -1.9% (initiated with Market Weight at Weisel), SLV -1.8% (still checking), GLD -1.1%… Select drybulk shippers trading lower with Baltic Dry Index falling 9.5% in its last trading session: EXM -6.0%, DSX -5.9%, DRYS -5.8%, GNK -5.0%, TBSI -4.2%, EGLE -3.6%, NM -2.1%…Other news: PWER -10.9% (announces a $75 mln convertible notes private offering), LEH -7.4% (CFO Erin Callan, COO Joseph Gregory out at LEH - CNBC), ROC -6.9% (announces agreement to sell common stock by stockholders of 10 mln, but up to 11.5 mln shares), KEY -6.1% (discloses its Board has approved a number of actions aimed at strengthening KeyCorp’s financial structure), TOO -5.6% (announces public offering of 7 mln common units), VE -2.6% (still checking)… Analyst downgrades: VSE -8.1% (downgraded to Sell at Citigroup), BMRN -6.1% (downgraded to Hold at Citigroup), KGC -3.0% (downgraded to Market Weight at Weisel), ACI -2.6% (downgraded to Neutral at JPMorgan), BCSI -2.0% (downgraded to Sell at Brean Murray), ADM -1.3% (downgraded to Hold at Citigroup).

Gapping Up

In reaction to strong earnings/guidance: AIRT +22.6%, CYBX +13.0%, OCCF +10.7%, CASY +5.2%, ENS +5.2%… M&A news: ABI 12.5% (to be acquired by Invitrogen for $38/share), BUD +8.2% (confirms Receipt of unsolicited proposal from InBev for $65/share)… Select financial stocks rebounding boosted by Morgan Stanley upgrade of U.S Financials: IBN +5.4%, WM +3.5%, WB +2.8%, UBS +3.5%, WFC +3.3%, LEG +2.2%, BAC +1.0%, ING +2.6%, JPM +1.7%, DB +1.2%… Other news: CMZ +13.5% (announced the Board of Directors has determined to commence a process to seek a buyer for all of the outstanding common shares), GERN +8.7% (presents data showing that its embryonic stem cell therapeutic for heart failure evades direct attack by the human immune system), CMI +4.9% (still checking), BZP +4.6% (Cramer makes positive comments on MadMoney), SNG +3.8% (still checking), SHPGY +3.0% (still checking), ASIA +2.5% (wins tender to develop ODS for China Telecom), TAP +2.4% (up in sympathy with BUD), RTP +1.9%, CCOI +1.6% (announces that its board of directors has authorized the co to repurchase up to an additional $50 mln of its shares of common stock), ARNA +1.3% (presented ‘positive’ Phase 2a clinical trial results of APD125 for the treatment of insomnia), C +1.2% (confirms it will restructure Old Lane and its multi-strategy hedge fund)… Analyst upgrades: CYTR +15.5% (initiated with a Buy at Brean Murray), THC +4.3% (upgraded to Overweight at Lehman), NT +2.2% (upgraded to Overweight at JPMorgan), CHU +4.0% (upgraded to Hold at Deutsche Bank), TMX +1.5% (upgraded to Neutral at JPMorgan).