Gapping down in reaction to disappointing earnings/guidance/same store sales: AIRN -19.6%, BRL -19.4%, HANS -17.7% (also downgraded to Neutral at tier 1 firm), AKNS -17.2%, INAP -15.5% (also downgraded to Neutral at Cowen and downgraded to Hold at Roth Capital), NSR -15.3% (also downgraded to Neutral from Outperform at Credit Suisse), VTAL -14.8%, PSPT -14.0%, OVEN -12.0%, BCRX -11.1%, TKC -7.6%, WRI -6.9% (also downgraded to Sell at Citigroup and downgraded to Sell at Cantor), NHWK -6.5% (also announces dutch tender offer for its common stock), SFY -6.0%, OMG -5.9%, DYN -5.7%, XRM -5.3%, PDX -5.2%, DPM -4.0%, ANDE -1.9%, GIL -1.4%...
Other news: TTMI -8.6% (announces a $125 mln convertible notes offering pursuant to its effective shelf registration), UBS -1.7% (still checking)...
Analyst downgrades: CLWR -4.1% (downgraded to Sell at Citigroup), EGLE -3.5% (downgraded to Peer Perform at Bear Sterns), YRCW -3.1% (downgraded to Sell at Stifel Nicolaus), OWW -2.3% (downgraded to Market Perform at Piper), SAM -2.0% (downgraded to Neutral from Overweight at HSBC), LCC -1.9% (downgraded to Neutral at Merrill), PCBC -1.8% (downgraded to Underperform at RBC), JEF -1.4% (downgraded to Underperform from Market Perform at Wachovia), ARMH -1.4% (downgraded to Neutral at tier 1 firm).
Gapping up in reaction to strong earnings/guidance/same store sales: BLTI +20.0%, BAGL +18.2% (also upgraded to Outperform at Piper), ENOC +16.1%, CROX +16.0%, SBH +10.2%, ENER +10.0%, NVEC +9.9%, DRRX +7.9%, AVCA +7.9%, RHD +7.8%, WG +6.9%, FLY +6.8%, ARO +6.2%, UL +4.7%, EP +3.9%, ANH +3.7% (also upgraded to Outperform at Keefe Bruyette), PHX +3.7%, AUY +3.0%, GCOM +2.7%, PRSC +2.2%, PCR +2.2%, KALU +1.6%, BBBB +1.5%, PSSI +1.4%, NWS.A +1.2%... Select metals/mining stocks showing strength with modestly higher spot prices: LMC +4.4%, BHP +4.4%, GOLD +3.8%, RTP +2.7%, MT +2.3%...
Other news: ONT +15.7% (adds comprehensive video capabilities to ubiquitous Java platform with On2 Technologies), DRS +13.0% (Italy's Finmeccanica in talks with DRS Technologies - WSJ), ALNY +8.7% (Novartis exercises rights to purchase additional shares of Alnylam's common stock), ITWO +3.0% (provides update on strategic review process; Chairman of the Board steps down), AGN +1.4% (Cramer makes positive comments on MadMoney), FWLT +1.4% (Cramer makes positive comments on MadMoney)...
Analyst upgrades: ONNN +3.4% (upgraded to Buy at Canaccord), FFIV +2.5% (upgraded to Outperform from Sector Perform at RBC), ARG +1.1% (initiated with Buy at Merrill).
Thursday, May 8, 2008
PreMarket Trading Indications
PreMarket - Trader Talk with Bob Pisani - CNBC.com
As expected, the ECB and the Bank of England left interest rates unchanged; the ECB at 4.0 percent. Futures dipped a bit at 8:50 am ET as Mr. Trichet began talking, giving his usual speech on the importance of combating inflation.
Retail sales, very encouraging. In general, April looked better than March, even if you include the early Easter and better weather. There are more beats than misses. The question is whether oil trumps better sales.
Beat: Wal-Mart [WMT 56.83 --- UNCH (0%) 
] , Kohl's [KSS 48.72 --- UNCH (0%) ] , and teen retailers like Abercrombie [ANF 72.66 --- UNCH (0%) ] , American Eagle [AEO 18.36 --- UNCH (0%) ], Buckle [BKE 49.51 --- UNCH (0%) ] and Aeropostale [ARO 32.2 --- UNCH (0%) ] . Aeropostale was terrific, sales up 25 percent, better, far better than up 7.1 percent expected, and they raised their earnings estimate for the first quarter. American Eagle backed first quarter guidance. Bulk sellers like BJ's Wholesale[BJ 38.94 --- UNCH (0%) ] and Costco [COST 72.08 --- UNCH (0%) ] were also strong.
Worse than expected: Limited [LTD 17.62 --- UNCH (0%) ] , Gap [GPS 18.24 --- UNCH (0%) ] , Dillards [DDT 18.77 --- UNCH (0%) ] , Chico's [CHS 6.86 --- UNCH (0%) ] .
JC Penney [JCP 43.998 --- UNCH (0%) ] guided down for May comps.
Toyota [TM 104.76 --- UNCH (0%) ] sees a 40 percent fall in operating profit for the first half of the year. Partly this may be due to higher material costs and a stronger yen, but much of it is also due to worries about a slowdown in U.S. sales growth. They're talking 1 percent growth for the year up to March 2009, well below the growth of previous years.
Yamana Gold [AUY 13.75 --- UNCH (0%) ]reported earnings better than expected.
For Markets, Question Is Whether Oil Trumps Better Sales - Trader Talk with Bob Pisani - CNBC.com
PreMarket Analyst Calls
- Boston Beer Co. (NYSE: SAM) cut to Neutral at HSBC Securities.
- Clearwire (NASDAQ: CLWR) cut to Sell at Citigroup.
- Einstein Noah (NASDAQ: BAGL) raised to Buy at Piper Jaffray.
- Jefferies Group (NYSE: JEF) cut to Neutral at Wachovia.
- Macrovision (NASDAQ: MVSN) cut to Hold at Deutsche Bank.
- Neustar (NYSE: NSR) cut to Neutral at Credit Suisse.
- Orbitz (NYSE: OWW) cut to Neutral at Piper Jaffray.
- Tenaris (NYSE: TS) cut to Hold at Citigroup.
- Wachovia (NYSE: WB) raised to Neutral at Credit Suisse.
- YRC Worldwide (NASDAQ: YRCW) cut to Sell at Stifel Nicolaus.
24/7 Wall St.
NYSE Arca Morning Update
Stocks trading on NYSE Arca at a price more than 15% away from the previous trade day's consolidated close price. (As of 08:30:00 ET)
Stock | Wednesday's Close | Current Price | Pct Chng | Current NYSE Arca Vol |
|---|---|---|---|---|
PBR.A | $105.74 | $53.53 | ( 49%) | 3,926 |
PBR | $126.66 | $64.33 | ( 49%) | 1,000 |
CROX | $10.00 | $12.30 | 23% | 245,690 |
AKNS | $6.65 | $5.22 | ( 22%) | 11,600 |
ENER | $34.75 | $42.08 | 21% | 135,410 |
HANS | $35.60 | $29.05 | ( 18%) | 94,945 |
BLTI | $2.49 | $2.95 | 18% | 1,000 |
DRS | $63.69 | $75.00 | 18% | 110,677 |
BRL | $49.65 | $42.05 | ( 15%) | 76,807 |
10 Most Active stocks on NYSE Arca as of 08:30:00 ET
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NYSE Arca Morning Update
Pre-Market Most Active Stocks - NASDAQ Premarket
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Pre-Market Most Active Stocks - NASDAQ Premarket
