- Pre-Market Indications

Wednesday, August 13, 2008

Pre Market Trading Gap News

Gapping Down

In reaction to disappointing earnings/guidance: TWB -33.6% (also downgraded to Sell at Citigroup and downgraded to Underperform at Friedman Billings), PODD -14.5%, HQS -14.3% (light volume), SATC -10.9%, WCG -9.0%, DE -8.5%, CSIQ -7.8%, LIZ -7.0%, ERII -6.2%, SRX -5.4%, M -2.9%, CRME -2.0%… M&A news: CVS -3.9% (to acquire Longs Drug Stores for $71.50 per share)… Select airline/cruise-related stocks trading modestly lower: CUK -3.7%, CCL -3.0%, UAUA -2.9%, CAL -2.1%, AMR -1.6%, DAL -1.5%, LCC -1.5%… Select European financials trading lower following weakness overseas: RBS -5.4% (CBA pulls out of talks with RBS - Financial Times), LYG -4.5%, BCS -2.9%, UBS -2.3% (UBS chiefs knew of rule breaches - FT), DB -2.3%, HBC -1.7%… Other news: CAP -4.1% (prices offering of 2.25 mln common shares at $15.50/share), CBMX -3.4% (files for $100 mln common stock offering), BTI -1.8% (still checking)… Analyst comments: MDRX -5.5% (downgraded to Market Weight at Weisel), LVLT -3.5% (downgraded to Underperform at Oppenheimer), ARAY -3.1% (downgraded to Hold at Jefferies), FOSL -2.6% (removed from Focus List at Morgan Keegan), CCOI -2.1% (downgraded to Underperform at Oppenheimer), TJX -1.4% (downgraded to Hold at Lazard Capital), HLEX -1.2% (downgraded to Market Perform at BMO Capital Markets), CNSL -1.0% (downgraded to Neutral at Credit Suisse).

Gapping Up

In reaction to strong earnings/guidance: DISK +19.7%, LFT +10.8% (light volume), CFSG +9.9%, SORL +7.8%, SBLK +6.3% (light volume), BRCD +5.1%, NVDA +4.6%, CREE +4.3%, APEI +2.5%, DPS +2.5%, AMAT +2.3%, TOL +1.3%, SQM +1.0% (light volume)… M&A news: LDG +29.9% (CVS Caremark to acquire Longs Drug Stores for $71.50 per share)… Select metals/mining stocks modestly rebounding: AAUK +2.1%, HMY +1.8%, AUY +1.7%, GG +1.2%… Other news: RAD +8.6% (trading up in sympathy with LDG), MHGC +6.4% (Zabeel and Mubadala square up for Morgans hotels - Times of London), TS +2.7% (still checking), ASML +2.0% (still checking), HRB +1.2% (Ameriprise Financial to acquire H&R Block Financial Advisors for $315 mln).

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