Jun 10, 2008

Tuesday, June 10, 2008

Pre Market Trading Gaps

Gapping up:

SHFL +11.2%, HK +2.8%, TIE +2.0%, HIRE, AMLN

Gapping down:

CMGI -15.1%, ALXA -8.5%, VE -6.2%, NBF -5.7%, NX -3.8%, TS -3.5%, BWP -3.4%, MT -3.2%, HMY -3.1%, WLT -2.9%, ALU -2.5%, BP -2.2%, TOT -1.8%.

Opening View: Bernanke's Inflation-Related Comments Push Futures Lower

U.S. stock futures are heading lower into the open, indicative of a potentially negative start to the regular session. In overseas trading, banking concerns are leading markets lower, with all 11 foreign indices that we track in negative territory. In focus this morning are comments from Fed Chief Ben Bernanke, earnings-related news from Texas Instruments, and potential problems for UBS.

Federal Reserve Chairman Ben Bernanke, addressing a conference in Boston, last night stated, "The Federal Open Market Committee will strongly resist an erosion of longer-term inflation expectations." Many investors believe an interest-rate hike may now be in store from the central bank. Big Ben's comments, combined with Treasury Secretary Henry Paulson opining that he wouldn't take the option of foreign-exchange intervention off the table, helped push the U.S. dollar higher against most of its major rivals.

Elsewhere, Texas Instruments (TXN: sentiment, chart, options) narrowed its second-quarter earnings forecast to 43 cents to 47 cents per share, on revenue of $3.33 billion to $3.46 billion. Previously, the firm estimated second-quarter earnings between 42 cents and 48 cents per share, with revenue seen coming in around $3.24 billion to $3.5 billion. Analysts, on average, predict quarterly numbers of 46 cents per share on revenue of $3.39 billion.

The Wall Street Journal reported that Swiss banking giant UBS (UBS: sentiment, chart, options) warned that it may take additional mortgage-related write-downs, considering prices on the securities have further declined. Analysts are now predicting a second-quarter loss for the financial firm.

Opening View: Bernanke's Inflation-Related Comments Push Futures Lower

NYSE Arca Morning Update

Stock	Monday's Close	Current Price	Pct Chng	Current NYSE Arca Vol
ERIC	$24.80	$12.33	( 50%)	8,300
HIRE	$10.40	$15.23	46%	7,100
AMSC	$36.06	$43.58	21%	10,900
CMGI	$15.01	$12.34	( 18%)	800

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	$449,502,509
QQQQ	$65,625,531
AAPL	$37,272,547
IWM	$19,540,840
USO	$12,909,135
SDS	$6,662,823
TEVA	$5,610,772
NOK	$4,554,938
BP	$4,426,371
MT	$3,710,404

Stock	Share Volume
SPY	3,314,553
QQQQ	1,357,043
ALU	370,001
IWM	267,835
AAPL	205,174
NOK	173,900
TEVA	129,647
USO	115,790
SDS	109,991
LEH	67,395

HIRE:
Under terms of the agreement, which was approved by both companies’ boards of directors, USIS will pay HireRight stockholders $15.60 per share in cash, which represents a 54% premium over HireRight’s closing share price of $10.12 on Friday, June 6, and a 65% premium over the weighted average trading price of the company’s shares for the past three months. Upon completion of the merger, HireRight will be combined with the USIS Commercial Services Division.

AMSC: