Gapping Down
In reaction to disappointing earnings/guidance: HAR -10.5% (also downgraded to Neutral at Baird), DV -4.2% ANF -1.6% JCP -1.0%…
Select metals/mining stocks showing weakness with lower spot prices on continued strength in dollar: SLV -9.3%, AAUK -5.0%, GOLD 4.9%, KGC -3.8%, GFI -3.3%, HMY -3.2%, GG -3.1%, GLD -3.0%, ABX -2.9%, HL -2.5%, AUY -1.4%, RTP -1.3%…
Other news: CMVT -23.5% (discloses business update in letter to employees; recent business environment indicates slower momentum in the second quarter; also downgraded to Neutral at JPMorgan), YRCW -2.3% (appoints Paul Liljegren Interim Chief Financial Officer), DB -1.7% and HBC -1.2% (checking for anything specific).
Gapping Up
In reaction to strong earnings/guidance: FFHL +25.6%, APP +8.6%, ADSK +8.5% (also upgraded to Buy at Needham), KONG +4.7%, KSS +3.2%…
Select mortgage/financial names showing strength boosted by S&P ratings affirmations: ABK +23.2% (Ambac’s ‘AA’ rating affirmed by S&P), SCA +17.4%, MBI +8.0% (MBIA Insurance ‘AA’ ratings affirmed and taken off creditwatch; outlook negative at S&P), MTG +6.4%, PMI +4.3% (Fitch affirms PMI Mortgage Insurance & QBE Insurance Group; PMI’s outlook revised to stable), WB +3.4%, LEH +3.5% (Soros boosts Lehman stake to 9.5 million shares - Reuters.com), FNM +2.3%, WM +2.3%, FRE +1.9%, UBS +1.5%, MER +1.3%, BAC +1.1%…
Select airline names trading modestly higher with crude lower on continued strength in dollar: LCC +7.2%, AMR +5.4%, UAUA +5.0%, JBLU +3.7%, CAL +3.1%…
Select solar stocks trading higher: SPWR +10.7% (PG&E signs 800 MW photovoltaic solar power agreements with OptiSolar and SunPower; also upgraded to Buy at Merrill), SOLF +3.5%, YGE +3.0%, TSL +2.3%, CSIQ +2.1%, FSLR +1.8%, JASO +1.3%, STP +1.3%, ESLR +1.1%…
Other news: EMIS +19.1% (Icahn Capital reports 86,430 Emisphere Tech shrs - DJ), NRG +6.2% (Berkshire held 3.2 mln shrs NRG Energy at June 30 - DJ), CROX +3.3% (Gates Foundation reports 1 mln shares of Crocs at June 30 - DJ), GM +1.8% (will announce a multi-mln dollar investment into its Lordstown Complex on August 21)…
Analyst comments: PCLN +3.5% (upgraded to Buy at Citigroup), EMKR +3.4% (initiated with Buy at Stanford).
