MarketWatch.com - Pre-Market Indications

Thursday, May 15, 2008

Trader Talk with Bob Pisani - CNBC.com

) UBS is pounding the table on oil: It upgraded oil to $115 for 2008, $120 for 2009, and intitiates coverage of the offshore drilling sector, with buy ratings on Atwood

Atwood Oceanics Inc
ATW

101.78 UNCH 0%
NYSE




[ATW 101.78 --- UNCH (0%) ], Diamond Offshore [DO 129.29 --- UNCH (0%) ], Ensco [ESV 68.23 --- UNCH (0%) ], Noble [NE 61.42 --- UNCH (0%) ], Rowan [RDC 41.89 --- UNCH (0%) ], and Transocean [RIG 147.2 --- UNCH (0%) ].

The reasons?
a) prices have been stronger and demand more resilient than expected at today's higher prices; and
b) higher than previously expected prices are required to limit demand growth, given anemic supply growth outlook.

2) A disappointing IPO: Verso Paper

Verso Paper Corp
VRS

0.0 UNCH 0%
NYSE




[VRS 0.0 --- UNCH (0%) ] priced 14 million shares at $12. That is well below the price talk of 18.75 million shares at $16-$18 that was floated on the Street.

Verso was formerly a unit of International Paper; it is now majority owned by Apollo Global Management. All the money will go toward paying down debt of $153.3 million and related prepayment fees, which is the debt that was floated to buy the company.

3) J.C. Penney

JC Penney Co Inc
JCP

44.25 UNCH 0%
NYSE




[JCP 44.25 --- UNCH (0%) ] up 2 percent; they beat estimates by a few pennies. This is good news -- but here's a reality check: the reported earnings of $0.54 per shqre was almost half last year's $1.04. Total sales decreased 5.1 percent to $4.1 billion. Comparable store sales declined 7.4 percent.

4) General Electric (CNBC's parent company)

General Electric Co
GE

32.51 UNCH 0%
NYSE




[GE 32.51 --- UNCH (0%) ] up 1 percent on a Wall Street Journal report that are considering an auction of its appliance unit. Estimates are all over the place: the Journal mentioned it could fetch $5-$8 billion, but Citi's analyst estimated $3-$7 billion.

Tough time to sell an appliance business.

5) At the NYSE, they're having their annual meeting. CEO Duncan Niederauer is saying the American Express

American Express Co
AXP

49.5 UNCH 0%
NYSE




[AXP 49.5 --- UNCH (0%) ] takeover is ahead of schedule and could close as early as August 1.



Pisani Blog: UBS Upgrades Oil; Why GE Shares Popped - Trader Talk with Bob Pisani - CNBC.com

Pre Market Trading Indications

Gapping down in reaction to weak earnings/guidance: SLRY -30.9% (also downgraded to Market Perform at Wachovia and downgraded to Hold at Needham), SSTR -29.2%, YTEC -10.7%, CTRP -10.2% (also downgraded to Neutral at Susquehanna), PRCP -10.0%, WH -8.1%, BRCD -6.9% (also downgraded to Average at Caris), STV -5.8%, OESX -4.9%, FSRV -4.7%, CSH -4.1% (also announces intention to close Ohio lending locations), TK -4.0%, BX -3.3%, SNS -3.0%, ITW -1.5%...

Other news
: SDTH -9.8% (announces proposed offering of $100 million convertible senior notes), BCS -2.3% (takes close to $2 bln writedown - Reuters)...

Analyst downgrades: CN -3.0% (downgraded to Sell at Deutsche Bank), SPR -2.2% (downgraded to Neutral at Cowen), CEC -2.1% (downgraded to Hold at Keybanc), KNX -2.0% (downgraded to Neutral at UBS), MCHX -1.5% (downgraded to Neutral from Positive at Susquehanna), NSM -1.2% (downgraded to Neutral at Merrill).

Gapping up in reaction to strong earnings/guidance
: BBI +14.0%, SINA +12.3% (also upgraded to Buy at Citigroup), FUQI +8.1%, YGE +6.7%, MPEL +6.1%, EJ +5.9%, SSRX +5.0%, A +4.5%, BT +4.1%, TSTC +3.9%, FREE +2.4%, FEED +2.2%, JCP +2.0%, URBN +1.5%, PRGN +1.4%...

M&A news
: CNET +42.5% (to be acquired by CBS for $11.50 a share)...

Select solar stocks showing continued strength
: ASTI +7.8%, SOLF +7.6%, CSUN +4.9%, ESLR +4.0%, SOL +1.9%, SPWR +1.7%, FSLR +1.2%...

Other news
: IDMI +14.3% (announces updated data from Mifamurtide Compassionate access program; data shows it is well-tolerated while showing signs of disease control), RCH +7.7% (continued strength following yesterday's 40%+surge higher), WGOV +6.2% (Cramer makes positive comments on MadMoney), ABK +4.6% (modestly rebounding after issuing response to Moody's comments late in trading session yesterday), UBET +4.4% (still checking), QGEN +2.5% (still checking), MT +2.5% (still checking), APC +2.1% (signs agreement with Anadarko as foundation shipper for bison pipeline project), YHOO +1.0% (Carl Icahn is moving ahead with proxy battle for yahoo - sources)...

Analyst upgrades
: ELOS +4.3% (upgraded to Buy at Merriman), TIVO +3.3% (upgraded to Market Perform at FBR), ITRN +3.0% (upgraded to Overweight at tier 1 firm), CEL +1.8% (upgraded to Buy at Jefferies), RIG +1.2% (initiated with Buy at UBS), NE +1.0% (initiated with Buy at UBS).

Gapping up
: SINA +10.9%, YGE +6.7%, WGOV +6.2%, SSRX +5.0%, A +4.5%, UBET +4.4%, TSTC +3.9%, BRCD +3.9%, MT +2.5%, SOL +1.9%, PRGN +1.4%, YHOO +1.0%...

Gapping down
: SSTR -29.2%, PRCP -15.0%, SDTH -9.8%, CTRP -9.6%, STV -3.6%, BCS -3.0%, ASYS -2.2%.

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
CNET

$7.95

$11.36

43%

3,115,944

PRCP

$10.14

$8.53

( 16%)

300

10 Most Active stocks on NYSE Arca as of 08:30:00 ET

Based on Dollar Volume: Based on Share Volume:
Stock
Dollar Volume
SPY
$219,568,438
CNET
$35,280,287
QQQQ
$14,129,716
AAPL
$9,325,842
SINA
$6,876,121
USO
$6,832,219
MT
$5,208,593
RIMM
$4,257,698
YGE
$3,918,442
FSLR
$3,856,365
Stock
Share Volume
CNET
3,115,944
SPY
1,554,484
QQQQ
287,089
BBI
180,571
RBS
164,850
YGE
136,228
SINA
115,426
GE
89,556
QID
77,525
USO
67,700

NYSE Arca Morning Update

Pre-Market Most Active Stocks - NASDAQ Premarket


NASDAQ - Pre-Market Ten Most Advanced

Active Share Volume Declined

Symbol

Company Name

Market
Close
Last Sale (Pre-Market) % Change
(Pre-Market)
Share
Volume

(Pre-Market)

CNET Networks, Inc.
$7.95 $11.35 42.77% 8,936,199

IDM Pharma, Inc.
$2.11 $2.40 13.75% 10,987

Sina Corporation
$53.15 $59.81 12.53% 149,246

Solarfun Power Holdings Co., Ltd.
$17.41 $18.90 8.56% 74,715

Melco PBL Entertainment (Macau) Limited
$14.26 $15.28 7.15% 53,152

Woodward Governor Company
$34.64 $36.90 6.52% 11,372

Evergreen Solar, Inc.
$9.27 $9.80 5.72% 46,845

Extreme Networks, Inc.
$3.07 $3.24 5.54% 10,100

China Sunergy Co., Ltd.
$11.56 $12.20 5.54% 10,200

Fuqi International, Inc.
$8.65 $9.12 5.38% 44,100

As of 5/15/2008 8:13:49 AM

NASDAQ - Pre-Market Ten Most Declined

Active Share Volume Advanced

Symbol

Company Name

Market
Close
Last Sale (Pre-Market) % Change
(Pre-Market)
Share
Volume

(Pre-Market)

Ctrip.com International, Ltd.
$63.33 $57 10.00% 27,851

Orion Energy Systems, Inc.
$12.62 $12 4.91% 7,800

Brocade Communications Systems, Inc.
$8.02 $7.68 4.24% 35,120

As of 5/15/2008 8:13:56 AM



Pre-Market Most Active Stocks - NASDAQ Premarket

Pre Market Movers - Futures Trading - Nasdaq - NYSE

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