Watchlist for August 6, 2008

Posted on August 06th, 2008 in Watchlists

Looks like the indices are set to remain in their trading ranges early on today. Let’s see if the oil inventory report can spark a big move or not…

On Today’s Calendar:

10:35 — 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: INAP -26.9% (also downgraded to Perform at Oppenheimer), ABCO -25.3% (also downgraded to Perform at Oppenheimer), MFLX -21.4%, KMX -19.4%, WFMI -18.8% (also downgraded to Source of Funds at ThinkPanmure), PCLN -17.6%, KOG -16.5%, EAC -16.2%, MVIS -13.9%, SNCR -10.9%, BMRN -10.0%, AKNS -8.7%, S -7.6% (also announces a 3 mln share cumulative perpetual convertible preferred stock private placement offering), HSP -6.9%, FRE -6.7%, QSFT -6.3%, SMSI -5.4%, ALSK -4.9% (light volume), PACR -4.9% (also downgraded to Underweight at JPMorgan), MOLX -3.3%, LTRE -2.3% (light volume), DRRX -2.2% (light volume), WMS -2.2%, MSCS -2.0%, SKYW -1.6%, AREX -1.3% (light volume), JCOM -1.2%, MCHX -1.0% (also downgraded to Accumulate from Buy at ThinkPanmure)… Select mortgage/financial stocks trading lower: FNM -7.8% (down in sympathy with FRE), LYG -5.6% (trading ex-dividend), LEH -4.2%, IBN -3.7%, WM -2.9%, BCS -2.8%, WB -2.4%, WFC -1.9%, C -1.6% (talks with regulators may bring billions in auction-rate-securities buybacks - WSJ), MER -1.6%, HBC -1.6%, JPM -1.4%… Other news: HCP -7.4% (announces a 13 mln share common stock secondary offering), MEE -5.9% (files for mixed securities shelf offering), SHPGY -3.4%, SI -1.8% (still checking), EXPE -1.1% (trading down in sympathy with PCLN)… Analyst comments: NVS -3.4% (downgraded to Neutral at JPMorgan), BIG -2.7% (downgraded to Hold at Soleil), VRTX -2.4% (downgraded to Neutral from Positive at Susquehanna), AIG -1.6% (initiated with Sell at Societe Generale - Bloomberg), SONC -1.1% (downgraded to Sell at Merrill).

Gapping Up

In reaction to strong earnings/guidance: MWA +14.8%, GGC +11.8%, MDRX +11.3%, KNDL +9.6%, FTK +9.5% (light volume), AMKR +9.4%, HDSN +9.1%, BIDZ +8.8%, TKLC +7.8%, OPWV +7.7%, HLS +6.9%, ONNN +6.0%, CSCO +5.6% (also assumed with an Equal Weight at Lehman, down from prior Overweight rating), ABK +4.9%, ACAS +4.7% (light volume), RL +4.1%, HLF +3.2%, FWLT +2.8%, WBMD +2.7% (also upgraded to Source of Funds at ThinkPanmure), USU +2.6% (light volume), PZZA +1.4% (light volume)… Select metals/mining names showing strength: RTP +4.6%, AAUK +4.6%, BBL +3.7%, BHP +3.5%, LMC +3.5%, PAL +2.4%, GG +2.3%, GFI +1.9%… Other news: ILE +303.4% (reports positive top-line results from pivotal phase III studies of Isolagen Therapy in wrinkles; studies meet all primary efficacy endpoints and are statistically significant), VRNM +48.5% (Verenium and BP announce partnership to accelerate the commercialization of cellulosic ethanol; also upgraded to Buy at Jefferies), SCA +39.3% (XL Capital announces closing of previously announced transactions with Security Capital Assurance Ltd and capital raise), DVAX +14.9% (Dynavax Technologies and Merck announce Phase 3 Trial with Investigational Hepatitis B vaccine Heplisav met its primary endpoint), IOC +9.1% (advises that testing has shown an excellent gas flow at the Elk-4 discovery well), HOKU +7.6% (HOKU Scientific and Tianwei sign $284 mln Polysilicon supply contract), S +2.3% (announces proposed private placement of $3 bln of cumulative perpetual convertible preferred stock), BP +1.3% (still checking)… Analyst comments: LLNW +7.7% (upgraded to Buy at Jefferies), FCX +3.5% (added to Top Picks Live List at Citigroup), SLW +2.7% (upgraded to Outperform at Raymond James), HMA +2.2% (upgraded to Outperform at Leerink Swann).