PreMarket Trading Indications

Gapping down in reaction to disappointing earnings/guidance: VRTU -11.9%, QXM -10.4% (very light volume), LTXX -9.7%, RRGB -6.9%, ADI -4.9% (also downgraded to Sector Perform from Outperform at Pacific Crest), CHRS -4.8%, PHHM -4.1%...

Select European financial names trading lower following weakness in overseas trading: RBS -3.7% , UBS -2.9% , HBC -1.6% , CS -1.4% , DB -1.2% , ING -1.1%...

Other news: PEIX -6.2% (modestly pulling back after this week's 40%+surge higher), CCL -4.7% (still checking for anything specific, crude making new all time highs again; peer RCL -0.8%), PKX -3.1% (still checking), PCX -2.1% (announces $175 mln convertible note offering)...

Analyst downgrades: UAUA -4.0% (downgraded to Sell at Soleil), AMR -3.7% (downgraded to Sell at Soleil), CLR -2.9% (downgraded to Neutral at JPMorgan), FSLR -2.3% (downgraded to Underperform at FBR), CAL -2.1% (downgraded to Hold at Soleil), NETC -1.8% (downgraded to Neutral at Merrill), ENS -1.5% (downgraded to Hold at Merriman), EP -1.2% (hearing downgraded to Neutral and removed from America Buy List at tier 1 firm).

Gapping up in reaction to strong earnings/guidance: SOLF +10.1%, DY +7.5% (also announces $15 mln stock repurchase program), EGHT +4.3%, OCNF +4.1%, INTU +3.8%...

Select drybulk shipping names showing strength: EGLE +2.4%, PRGN +2.0%, SBLK +1.8%, DRYS +1.8%, EXM +1.8%, TBSI +1.4%...

Select oil/gas stocks showing strength with crude setting another all time high: RDS.A +3.1%, E +2.3%, BP +1.9%, TOT +1.8%...

Other news: ADLR +19.2% (Adolor and GSK's Entereg wins FDA approval), IDEV +7.7% (presents "successful" Phase III NEBIDO data at American Urological Association), CEO +4.8% (still checking), CEGE +3.2% (reports "encouraging" interim data from phase 1 clinical trial of CG0070 in recurrent bladder cancer), DNDN +3.2% (presents preclinical data demonstrating activity of Trp-p8 agonist, D-3263, in benign prostatic hyperplasia), TWX +2.2% (Time Warner and Time Warner Cable confirm separation)...

Analyst upgrades: CSUN +6.0% (upgraded to Hold at Jefferies), MU +3.4% (upgraded to Buy at Deutsche Bank), CENT +2.1% (upgraded to Outperform at Piper), MDT +1.1% (upgraded to Buy at tier 1 firm), RIO +1.0% (hearing named as top sector picks in Basic Materials at tier 1 firm).

Gapping up: SOLF +19.3%, ADLR +19.2%, IDEV +7.7%, DY +7.5%, INTU +5.1%, OCNF +4.1%, MU +3.5%, TWX +2.2%, BP +1.9%, TOT +1.8%...

Gapping down: VRTU -8.1%, RRGB -6.9%, LTXX -4.7%, CCL -4.7%, PCX -3.4%, UBS -2.9%.