Watchlist for August 12, 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: SCA -37.5%, SONS -18.9% (also downgraded to Hold at Cantor Fitzgerald), ZOLT -13.8% (also downgraded to Neutral from Buy at Jesup & Lamont and downgraded to Sell from Buy at Signal Hill), TRAK -10.7% (also downgraded to Neutral at JPMorgan), HBIO -8.5%, CRXL -4.4%, MDR -4.3%, MBLX -4.1% (light volume), NUAN -1.3%... M&A news: MIDD -6.3% (to acquire OVEN for $200 mln in cash and stock)... Select financials showing modest weakness: WB -2.8%, MS -2.6% (to repurchase auction rate securities ; also Moody's downgrades Morgan Stanley to A1, stable), MER -2.0%, JPM -1.9% (loses $1.5 bln since July - Reuters), BAC -1.5%, C -1.2%, LEH -1.0%... Other news: ALTU -29.1% (announces achievement of primary endpoint in phase 3 efficacy trial of Trizytek; patients from 3 out of 6 non-U.S. countries did not appear to show a difference between Trizytek and placebo groups; also downgraded to Neutral at Cowen), CMED -4.9% (announces concurrent offerings of $150 mln of Convertible Senior Notes and purchased ADSs pursuant to ADS issuance and repurchase agreements), AW -4.8% (comments on Waste Management's latest unsolicited offer for Republic Services; says 'fails to address fully massive antitrust issues and financing'), SNP -4.6% (still checking), INFY -4.0% (still checking), CHL -3.6% (shares fall on share-price estimate cut - Bloomberg.com), ZNH -2.9% (China airlines fall on pessimism on traffic - Bloomberg.com), VTR -2.6% (enters agreement to sell 4.4 mln shares of common stock)... Analyst comments: MDVN -4.4% (downgraded to Sector Perform at RBC), ANN -4.0% (downgraded to Sell at Citigroup), UTHR -3.0% (initiated with Sell at Piper), GS -2.4% (downgraded to Hold at Deutsche Bank), PRXL -2.3% (downgraded to Hold at Jefferies), IBKC -2.2% (downgraded to Hold from Buy at Sterne Agee), UDR -2.0% (downgraded to Sell at BofA), TYC -2.0% (downgraded to Neutral at JPMorgan), WYNN -1.8% (downgraded to Neutral at JPMorgan), ITT -1.5% (downgraded to Underweight at JPMorgan), HWCC -1.2% (downgraded to Neutral at Piper), MCD -1.1% (downgraded to Neutral at UBS).

Gapping Up

In reaction to strong earnings/guidance: SPPI +21.5%, LDK +19.1% (upgraded to Neutral at Piper), AIRT +17.9%, VSE +13.8%, AMCN +12.2%, INTX +10.3% (light volume), CSY +7.4% (light volume), FUQI +5.6% (light volume), FLR +5.3%, TWTC +2.7%, FOSL +1.3%... M&A news: UB +10.0% (Mitsubishi UFJ Financial Group and Bank of Tokyo-Mitsubishi UFJ to offer to acquire all publicly held shares of UnionBanCal for $63/share in cash), OVEN +7.3% (to be acquired by The Middleby Corp for $200 mln in cash and stock, with implied value of ~$6.47/share)... Select solar stocks showing strength following LDK results: SOLR +12.9%, CSIQ +9.7%, STP +8.4%, TSL +7.9%, CSUN +7.0%, SOLF +6.2%, SOL +5.4%, YGE +4.5%, ESLR +2.1%, FSLR +1.6%... Select European financials showing strength with UBS reporting: RBS +1.7% (Royal Bank of Scotland, Santander, Fortis sell ABN unit to Goldman Group, according to source - DJ), ING +1.6%, BCS +1.1%... Other news: GA +5.9% (announces $150 mln share repurchase program), ALU +2.9% (still checking), GILD +1.7% ( announces that the U.S. Food and Drug Administration approves Viread for chronic bepatitis B in adults), CSC +1.6% (wins U.S. Air Force contract to provide maintenance support worldwide)... Analyst comments: LCC +7.3%, NWA +6.6%, DAL +5.4%, CAL +4.8% and AMR +3.8% (all upgraded to Overweight at JPMorgan); COG +1.1% (upgraded to Buy at BofA).

Disclaimer & How I use this list