Pre Market Trading Gap News

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).

If you found this article interesting please subscribe for updates with any reader or your email. This site is not monetized and 100 percent free. My only form of payment is my readers comments and subscriptions