Thursday, September 18, 2008

Pre Market Trading Gap News

Gapping Down

In reaction to disappointing earnings/guidance: APOG -15.6%, PLD -12.8% (also downgraded to Hold from Buy at Deutsche Bank and downgraded to Sector Perform from Outperform at RBC)… Select airlines showing weakness with crude higher: UAUA -9.4% , AMR -7.5% , LCC -6.3% , CAL -5.6% , DAL -4.3%… Other news: SRDX -23.3% (Merck discontinues license and research collaboration agreement with SurModics), CPST -20.0% (announces a ~21.48 mln share common stock offering), MS -6.9% (continued reports regarding a potential merger with WB; CNBC reported that co is beginning official merger negotiations with WB), GS -6.1% (showing continued weakness from yesterday’s 10%+ decline), VRTX -4.0% (announces pricing of its public offering of common stock of 7.5 mln shares at $25.50 per share)… Analyst comments: KSS -1.5% (downgraded to Hold at Citigroup).

Gapping Up

Select financial related stocks rebounding: UBS +17.9%, AIG +13.2% (S&P reports most AIG ratings’ CreditWatch status revised to developing; short-term ratings raised), WM +11.9% (Wells Fargo, Citi have expressed preliminary interest, according to sources - WSJ), LYG +11.5% (buys HBOS in GBP12.2B all-share deal - DJ), RBS +9.9%, AXA +7.3%, MBI +7.1%, DB +6.8%, ING +4.2%, BCS +4.0%, C +2.5%, WB +2.0% (MS considers merger with WB - NY Times)… Select metals/mining names showing continued strength as the dollar weakens and gold rises further: GFI +12.4%, SLV +7.1%, NG +6.8%, AAUK +6.5%, HMY +5.1%, MT +4.4%, GOLD +4.3%, RTP +2.4%, NEM +1.8%, BHP +1.6%, GLD +1.1%… Select oil/gas names showing strength with crude higher: STO +7.4%, RDS.A +2.7%, TOT +2.1%, BP +1.9%, XOM +1.4%… Select China names trading higher following rebound in overseas trading: CHU +11.1%, CN +7.1%, ACH +3.3%… Other news: CEG +5.0% (EDF Considers Taking Over U.S. Joint Venture Partner - WSJ)… Analyst comments: CLR +1.5% (upgraded to Buy at Merrill).






If you found this article interesting please subscribe for updates with any reader or your email. This site is not monetized and 100 percent free. My only form of payment is my readers comments and subscriptions

Subscribe to "The $t0ckman" via email

Enter your email address:

Delivered by FeedBurner