PreMarket Trading Indications

Gapping down in reaction to disappointing earnings/guidance/same store sales: AIRN -19.6%, BRL -19.4%, HANS -17.7% (also downgraded to Neutral at tier 1 firm), AKNS -17.2%, INAP -15.5% (also downgraded to Neutral at Cowen and downgraded to Hold at Roth Capital), NSR -15.3% (also downgraded to Neutral from Outperform at Credit Suisse), VTAL -14.8%, PSPT -14.0%, OVEN -12.0%, BCRX -11.1%, TKC -7.6%, WRI -6.9% (also downgraded to Sell at Citigroup and downgraded to Sell at Cantor), NHWK -6.5% (also announces dutch tender offer for its common stock), SFY -6.0%, OMG -5.9%, DYN -5.7%, XRM -5.3%, PDX -5.2%, DPM -4.0%, ANDE -1.9%, GIL -1.4%...

Other news: TTMI -8.6% (announces a $125 mln convertible notes offering pursuant to its effective shelf registration), UBS -1.7% (still checking)...

Analyst downgrades: CLWR -4.1% (downgraded to Sell at Citigroup), EGLE -3.5% (downgraded to Peer Perform at Bear Sterns), YRCW -3.1% (downgraded to Sell at Stifel Nicolaus), OWW -2.3% (downgraded to Market Perform at Piper), SAM -2.0% (downgraded to Neutral from Overweight at HSBC), LCC -1.9% (downgraded to Neutral at Merrill), PCBC -1.8% (downgraded to Underperform at RBC), JEF -1.4% (downgraded to Underperform from Market Perform at Wachovia), ARMH -1.4% (downgraded to Neutral at tier 1 firm).

Gapping up in reaction to strong earnings/guidance/same store sales: BLTI +20.0%, BAGL +18.2% (also upgraded to Outperform at Piper), ENOC +16.1%, CROX +16.0%, SBH +10.2%, ENER +10.0%, NVEC +9.9%, DRRX +7.9%, AVCA +7.9%, RHD +7.8%, WG +6.9%, FLY +6.8%, ARO +6.2%, UL +4.7%, EP +3.9%, ANH +3.7% (also upgraded to Outperform at Keefe Bruyette), PHX +3.7%, AUY +3.0%, GCOM +2.7%, PRSC +2.2%, PCR +2.2%, KALU +1.6%, BBBB +1.5%, PSSI +1.4%, NWS.A +1.2%... Select metals/mining stocks showing strength with modestly higher spot prices: LMC +4.4%, BHP +4.4%, GOLD +3.8%, RTP +2.7%, MT +2.3%...

Other news: ONT +15.7% (adds comprehensive video capabilities to ubiquitous Java platform with On2 Technologies), DRS +13.0% (Italy's Finmeccanica in talks with DRS Technologies - WSJ), ALNY +8.7% (Novartis exercises rights to purchase additional shares of Alnylam's common stock), ITWO +3.0% (provides update on strategic review process; Chairman of the Board steps down), AGN +1.4% (Cramer makes positive comments on MadMoney), FWLT +1.4% (Cramer makes positive comments on MadMoney)...

Analyst upgrades: ONNN +3.4% (upgraded to Buy at Canaccord), FFIV +2.5% (upgraded to Outperform from Sector Perform at RBC), ARG +1.1% (initiated with Buy at Merrill).