Thursday, March 27, 2008

Pre Market Trading Indications

Gapping up in reaction to strong earnings/guidance: SOLF +10.2%, CTRN +9.4%, CAG +8.8%, SATC +7.6%, WTSLA +4.6%, JST +4.4%, SY +3.5%, CHU +2.7%... M&A news: PEAK +23.8% (to be acquired by S&G Company for $2/share in cash)...
Select European financial names trading higher following strength in overseas trading: UBS +4.6%, BCS +2.3%, HBC +2.4%... Select solar names showing strength: ASTIZ +22.0%, ASTI +17.9% (Hydro increases stake to 35% in Ascent Solar), CSUN +4.2% (ests raised at Jefferies), ESLR +3.0%, EMKR +2.9%, TSL +2.4%, JASO +2.2%, STP +2.1%, CSIQ +2.0%, YGE +1.4%, FSLR +1.3%, LDK +1.1%...
Other news
: MF +16.5% (enhances its agreement with Man Group; the new arrangement will ultimately remove the need for MF to allocate up to $800 mln of its existing liquidity), CCU +12.6% (says wins ruling on $20 bln buyout - Reuters; Bain Cap, Lee Partners file suit vs banks on CCU deal - WSJ), PRXI +10.8% (discloses court ruling), LMC +5.1% (still checking), STAN +4.6% (contract awards for Yankee Stadium, Washington Square office complex, Columbus City Center), NED +3.7% (announces that its board has authorized a program to repurchase Noah ADSs), AAUK +3.2% (reportedly isn't interested in merger with Xstrata-FT), SSL +3.2% (still checking), RMBS +2.9% (confirms that the co wins coordinated trial against Memory Manufacturers; RMBS was awarded $133.6 mln in damages), RTP +2.8% (seek talks with Chinalco on Rio Tinto stake - Bloomberg.com), CHL +2.7% (still checking), MU +2.7% (RMBS was awarded $133.6 mln in damages in case against Micron and others), BHP +2.6% (seek talks with Chinalco on Rio Tinto stake - Bloomberg.com), TSO +2.3% (up in sympathy with VLO upgrade), MICC +2.1% (still checking), BPFH +1.6% (repurchased $107.5 mln of its outstanding 3.00% Contingent Convertible Senior Notes due 2027)...
Analyst upgrades: COMS +4.2% (upgraded to Outperform from Market Perform at Bernstein), VLO +2.9% (upgraded to Buy at Deutsche Bank), OMRI +2.6% (initiated with Buy at UBS), CN +2.5% (upgraded to Buy at Merrill), CRK +2.1% (upgraded to Outperform from Market Perform at Raymond James), KLAC +2.0% (upgraded to Outperform at Friedman Billings), DLB +1.9% (upgraded to Equal Wt at Morgan Stanley), SEED +1.4% (resumed with Buy at Maxim), HAL +1.1% (upgraded to Outperform at RBC), FXI +1.1% (hearing upgraded at tier 1 firm), NBR +1.1% (upgraded to Outperform at RBC).

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