Aug 14, 2008

Thursday, August 14, 2008

YouTube - Fema: Detention Camp Setup for DNC Protestors & Mass Arrests

YouTube - Fema: Detention Camp Setup for DNC Protestors & Mass Arrests

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Pre Market Trading Gap News

Gapping Down

In reaction to disappointing earnings/guidance: PMII -52.0%, LYTS -34.2% (also downgraded to Underperform at Baird), SPRD -20.5%, GRRF -16.7%, BGG -11.6%, GSOL -10.9% (light volume), COIN -9.4%, PAET -6.2%, IPI -5.3%, NTAP -4.2%, MDAS -2.0%, PMTI -1.8%…

Select European financials showing weakness: ING -3.8% (trading ex-dividend), BCS -3.4% (may write down 1.5 billion pounds more, says Goldman - Reuters.com), RBS -3.2%…

Other news: BSX -5.8% (Heart stents’ advantage over drugs fades with time, study says - Bloomberg.com), TRLG -3.4% and NOK -1.1% (still checking)…

Analyst comments: CPHD -5.5% (downgraded to Neutral at UBS), OVTI -5.0% (downgraded to Neutral from Outperform at Robert W. Baird), CT -3.7% (downgraded to Sell at UBS), ASML -2.6% (downgraded to Hold at ING - Bloomberg), GD -1.8% (downgraded to Neutral at JPMorgan), CS -1.4% (downgraded to Underperform at Merrill), LPNT -1.3% (downgraded to Mkt Perform at Leerink Swann), MDR -1.3% (downgraded to Hold at Citigroup).

Gapping Up

In reaction to strong earnings/guidance: VM +9.5%, EL +6.8%, ASYS +6.5%, IOC +6.4%, CLNE +1.8%…

M&A news: HLYS +14.4% (SKX proposes to acquire co for $5.25 a share)…

Select metals/mining stocks showing modest strength: BBL +3.2%, ACH +2.9%, BHP +2.9%, AAUK +2.2%, GOLD +1.9%, AUY +1.9%, AU +1.5%…

Other news: PMI +25.4% (announces that it has entered into a definitive agreement to sell its Australian mortgage insurance subsidiary and related Australian holding co to QBE Insurance Group), IDEV +9.1% (announces the issuance of U.S. Patent No. 7,410,978 , entitled “Once Daily Dosage Forms of Trospium”), IVZ +7.6% (will replace IACI in S&P 500 after the close on 8/20), GMKT +4.5% (continued strength following yesterday’s ~15% surge), GILT +4.2% (provides update on merger transaction following 16% decline in yesterday’s afternoon trading; cos questioning whether all of the conditions of the merger agreement have been met), BKE +3.4% (will replace WHQ in S&P 600 after the close on 8/19), CROX +2.9% (up in sympathy with HLYS), UBS +2.9% (plans to focus on India, Russia, Brazil, Kurer tells Sole - Bloomberg.com), SCL +1.4% (will replace BLG in S&P 600 after the close on 8/19), LCAPA +1.3% (approves up to $300 mln share repurchase authorization), GPRO +1.2% (FDA grants full approval of PROCLEIX ULTRIO blood screening assay), TS +1.0% (still checking)…

Analyst comments: KGC +3.3% (upgraded to Buy at Canaccord), DE +1.6% (upgraded to Buy at Stifel), JEC +1.4% (upgraded to Buy at Stifel), CREE +1.2% (initiated with a Buy at Cantor Fitzgerald).

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