Gapping Down
In reaction to disappointing earnings/guidance: GDI -3.9% (light volume)… Select financial related stocks under pressure: BCS -8.7% (downgraded to Underweight at JPMorgan), RDN -7.7%, UBS -7.0%, WB -5.1% (downgraded to Hold at Stifel Nicolaus), MBI -4.9% (has sufficient cash and government securities to meet all potential GIC termination payment requirements in the event of downgrade), LYG -4.5% (downgraded to Underweight at JPMorgan), ABK -4.4% (comments on impact of potential ratings action by Moody’s), BAC -3.9%, MER -3.7%, JPM -3.7%, WFC -2.0% (Cramer makes bearish comments on MadMoney)… Analyst comments: NTAP -1.7% (downgraded to Market Perform at Wachovia).
Gapping Up
M&A news: SCUR +23.9% (agrees to be acquired by McAfee for $5.75/share)… Select metals/mining names showing strength with higher spot prices: KGC +5.2%, GFI +4.0%, GOLD +3.8%, SLV +3.5%, ABX +2.1%, BHP +2.0%… Other news: HOKU +20.4% (secures power for 4,000 metric tons of polysilicon production), MS +8.4% (Bloomberg reports Mitsubishi UFJ to buy up to 20% of MS; also will be reclassified as bank holding companies), MCO +6.5% (added to SEC list of stocks protected against short selling) APH +3.7% (will replace WEN in the S&P 500) BP +1.7% (still checking for anything specific)… Analyst comments: OTTR +2.5% (upgraded to Outperform at Baird), VSE +1.8% (upgraded to Hold at Citigroup).
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