Gapping up in reaction to strong earnings/guidance: FMCN +12.0%, LNN +7.5%, ADBE +5.4%, DFS +5.4%, AIR +5.3%, ATU +4.1%, MS +3.8%, CAH +2.5%, ROST +2.5%, GIS +1.7%, DRI +1.5%... Other news: BSC +14.6% (Joseph Lewis and former BSC CEO Jimmy Cayne are quietly searching for a white knight - NY Post), PRXI +11.1% (signs ten year agreement With Luxor Resort & Casino in Las Vegas to develop a new exhibition complex), NCC +4.4% (reports expected Visa IPO gain, expects 1Q08 pre-tax cash gain of approx $450 mln; also upgraded to Sector Perform at RBC), TMA +3.4% (showing continued strength following yesterday's ~20% gains), PERY +2.0% (to be added to S&P SmallCap 600 Index; will take place of BELM), MA +1.9% (ticks up after Visa IPO prices at $44, above the $37-$42 range), OI +1.7% (Cramer makes positive comments on MadMoney), EMKR +1.3% (comments on recent trading activity; to continue substantial revs growth and improve profitability), ACIW +1.1% (signs IT outsourcing agreement with IBM; estimated cost savings of $25-$30 mln)... Analyst upgrades: GTY +5.8% (upgraded to Hold at Stifel), IMCL +2.1% (upgraded to Buy at Citigroup).

Visa (V) IPO prices above range; largest IPO ever; a play on MA which is up 435% since its IPO debut in May 2006 (44.00 )