Aug 18, 2008

Monday, August 18, 2008

Russian Long Range Nukes In The Caribbean

CARACAS: President Hugo Chavez said on Sunday that Russian President Dimitri Medvedev wants to send a Russian naval fleet to visit Venezuela.

"Russia has informed us they intend to visit Venezuela, that is, the intention that a Russian fleet should come to the Caribbean," Chavez said on his weekly radio program.

"I told the president (Medvedev), 'If you're coming to the Caribbean, we'll welcome you,'" Chavez said, adding that the Russian naval fleet would pay "a friendly and working" visit to Venezuela.

Under leftist President Chavez, Venezuela has been seeking closer relations with Moscow, in part to buy military hardware, including 24 Russian Sukhoi fighter jets recently delivered, after Washington refused to supply spare parts for the F-16 jets it sold Venezuela in the 1980s.

Over the past few years, Venezuela and Russia have signed 4.0 billion dollars' worth of arms deals, including AK-47 automatic rifles and military helicopters.

"We very much need them here," Chavez said of the Russian weapons. "We've got the helicopters, the Sukoi fighters and we're now considering buying some Russian submarines to patrol our territorial waters," Chavez said.

Chavez on Sunday also repeated his support for Moscow in its conflict over Georgia's separatist territory of South Ossetia, and called Georgian President Mikheil Saakashvili "a puppet of the United States."

Russia wants to send naval fleet to Venezuela: Chavez- Politics/Nation-News-The Economic Times

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Pre Market Trading Gap News

Gapping Down

In reaction to disappointing earnings/guidance: HSY-8.2% (downgraded to Hold at Citigroup and resumed with a Sell at Stifel Nicolaus)…

M&A news: TTWO -7.4% (Electronic Arts issues update on offer for Take-Two; will allow tender offer to expire)…

Other news: PMFG -41.8% (trading post split), FRE -8.9% and FNM -8.8% (Fannie Mae and Freddie Mac mentioned negatively in Barron’s)…

Analyst comments: BEAT -9.6% (downgraded to Hold at Citigroup and downgraded to Market Weight at Weisel), HBAN -3.4% (downgraded to Sell from Neutral at FTN Midwest).

Gapping Up

In reaction to strong earnings/guidance: FMCN +11.4%, SDTH +8.2%, TSL +2.7%, BHP +1.3%…

M&A news: UB +11.5% (Mitsubishi UFJ Financial Group and UnionBanCal sign definitive merger agreement)…

Select oil/gas stocks showing strength with higher crude: STO +2.9%, TOT +2.7%, RDS.A +2.0%, BP +1.5%…

Select metals/mining names showing strength with higher spot prices and weaker dollar: GFI +5.1%, SLV +2.4%, MT +2.2%, AUY +1.4%, RTP +1.0%…

Select solar names trading higher boosted by TSL results: SOLF +7.1%, SOL +4.0%, ESLR +1.7%, JASO +1.5%… Other news: DYAX +24.7% (announces DX-88 for hereditary angioedema meets primary and secondary endpoints in Phase 3 trial), RHD +14.4% (mentioned positively in Barron’s), UBS +2.1% (UBS chairman is certain co will be independent in 2 years, according to report - Reuters.com)…

Analyst comments: CDNS +4.7% (upgraded to Buy at Citigroup), POT +1.9% (added to Top Picks Live List at Citigroup).

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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	Friday's Close	Current Price	Pct Chng	Current NYSE Arca Vol
DYAX	$4.33	$5.40	25%	31,567
IDSA	$17.88	$20.60	15%	600

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	$65,264,834
QQQQ	$17,645,544
TOT	$15,360,780
UB	$13,380,613
IWM	$12,508,285
SKF	$5,471,513
GLD	$4,805,018
BP	$4,283,509
RDS.A	$3,520,720
SDS	$3,258,490

Stock	Share Volume
SPY	499,921
QQQQ	364,339
TOT	213,743
FRE	210,406
UB	182,819
IWM	165,800
FNM	160,637
ABK	159,987
BP	73,801
GLD	61,500

DYAX:

Dyax Corp. to Present Topline EDEMA4 Results Call scheduled for 10:00 am ET todayCCBN(Mon 8:10am)
InPlay: Dyax announces DX-88 for hereditary angioedema meets primary and secondary endpoints in Phase 3 trialBriefing.com(Mon 7:30am)
Dyax Announces DX-88 for Hereditary Angioedema Meets Primary and Secondary Endpoints in Phase 3 Trial (EDEMA4(R))Business Wire(Mon 7:30am)

NYSE Arca Morning Update

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Pre Market Trading Gaps

Gapping up

UB +11.5%, SDTH +8.2%, GFI +5.1%, TSL +3.3%, TOT +2.7%, SLV +2.4%, MT +2.2%, UBS +2.1%, RDS.A +2.0%, BP +1.5%, RTP +1.0%...

Gapping down

FNM -5.7%, FRE -5.1%, HSY -4.4%, LEH -1.5%