Pre Market Trading Gap News

Gapping Down

In reaction to disappointing earnings/guidance: BGP -52.4%, YGE -15.1%, JCG -14.1% (also downgraded to Hold at Needham), DE -10.0%, TIF -8.8%, VRGY -6.7%, TIVO -5.9%, TNB -4.7%, ANDE -2.5% (also downgraded to Neutral from Buy at Piper Jaffray)… M&A news: BCE -42.3% (Preliminary view from KPMG is that deal may not beat solvency test by December 11)… Select oil/gas related names showing weakness: NOV -4.4%, RDS.A -3.6%, BP -3.3%, APC -3.2% (downgraded to Neutral at Merrill), PBR -2.6%, SU -2.4% (downgraded to Underperform at Merrill), COP -2.4%, TOT -2.2%, XOM -1.0%… Select financial names trading lower: UBS -7.4%, ING -6.1%, MS -4.7%, BAC -4.6%, BCS -4.1%, MER -4.0%, JPM -3.7%, COF -3.6%, GS -3.0%, WFC -2.7%, HBC -2.4%, RBS -2.4%… Select airlines ticking lower with crude higher: LCC -9.2%, UAUA -4.9%, AMR -1.7%, DAL -1.5%… Select metals/mining names showing weakness: RTP -13.4% (Rio Tinto under pressure on asset sales - Reuters), AAUK -2.6%, MT -1.8%, GOLD -1.6%, BBL -1.4%, BHP -1.2% (downgraded to Hold at Canaccord)… Select solar names trading lower following disappointing YGE results: JASO -8.8%, CSUN -8.7%, FSLR -4.4%, ESLR -3.4%… Other news: LFG -73.6% (to be removed from S&P 600), ALU -4.5% (announces the appointment of Paul Tufano as CFO), KG -3.7% (discloses it is exploring an alternative financing arrangement for its pending acquisition of Alpharma), GSK -3.5% (down despite Reuters reporting that co says that it not involved in latest European Commission raids), CAT -3.4% (down in sympathy with DE), CAG -2.5% (filed for a $4 bln mixed shelf offering)… Analyst comments: EXM -7.7% (downgraded to Sell at Cantor), SAP -3.9% (downgraded to Sell at Societe Generale), DT -2.8% (downgraded to Underperform at Bernstein), DLTR -2.5% (downgraded to Neutral from Buy at MKM Partners), CBE -1.7% (downgraded to Neutral at UBS), NXY -1.4% (downgraded to Underperform at Merrill), CPB -1.2% (downgraded to Hold at Argus).

Gapping Up

General news: HOC + 12.4% (will replace LFG in S&P 600), RMBS + 5.0% (showing continued strength following yesterday’s 20% climb), CHL + 4.1% (still checking for anything specific), STBA + 3.5% (will replace WCN in the S&P 600), TMP + 3.5% (light volume; will replace SPC in the S&P 600)… Analyst comments: HLS +2.3% (upgraded to Buy at Jefferies).

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. Also be sure to check out my stock market crash warning pt2, updated 11-19-08. You can also support the st0ckman by joining the pyrabang network. PyraBang is an awesome concept striving to take down main stream media and their corporate programming.