Monday, September 22, 2008

Pre Market Trading Gap News

Gapping Down

In reaction to disappointing earnings/guidance: GDI -3.9% (light volume)… Select financial related stocks under pressure: BCS -8.7% (downgraded to Underweight at JPMorgan), RDN -7.7%, UBS -7.0%, WB -5.1% (downgraded to Hold at Stifel Nicolaus), MBI -4.9% (has sufficient cash and government securities to meet all potential GIC termination payment requirements in the event of downgrade), LYG -4.5% (downgraded to Underweight at JPMorgan), ABK -4.4% (comments on impact of potential ratings action by Moody’s), BAC -3.9%, MER -3.7%, JPM -3.7%, WFC -2.0% (Cramer makes bearish comments on MadMoney)… Analyst comments: NTAP -1.7% (downgraded to Market Perform at Wachovia).

Gapping Up

M&A news: SCUR +23.9% (agrees to be acquired by McAfee for $5.75/share)… Select metals/mining names showing strength with higher spot prices: KGC +5.2%, GFI +4.0%, GOLD +3.8%, SLV +3.5%, ABX +2.1%, BHP +2.0%… Other news: HOKU +20.4% (secures power for 4,000 metric tons of polysilicon production), MS +8.4% (Bloomberg reports Mitsubishi UFJ to buy up to 20% of MS; also will be reclassified as bank holding companies), MCO +6.5% (added to SEC list of stocks protected against short selling) APH +3.7% (will replace WEN in the S&P 500) BP +1.7% (still checking for anything specific)… Analyst comments: OTTR +2.5% (upgraded to Outperform at Baird), VSE +1.8% (upgraded to Hold at Citigroup).




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