Thursday, October 9, 2008

Pre Market Trading Gap News

Gapping Down

In reaction to disappointing earnings/guidance/same store sales: MW -10.7% (also target cut to $17 at Wedbush), RT -9.1% (also downgraded to Neutral from Outperform at Credit Suisse), CHRD -7.5%, ANF -4.9%, TJX -4.0%… M&A news: LDG -1.6% (Walgreen withdraws proposal to acquire Longs Drug Stores)… Select metals/mining stocks pulling back with lower spot prices: HMY -6.2%, GOLD -4.3%, GG -4.2%, ABX -3.2%, AUY -2.7%, AEM -2.6%, GLD -2.2%, NEM -2.0%… Other news: CS -8.8% (could post Q3 loss -, IFX -6.5% (checking for anything specific), MET -1.1% (prices public offering of common stock at $26.50)

Gapping Up

In reaction to strong earnings/guidance: IBM +5.2%… Select financial names rebounding: NCC +21.1% (in talks with a number of banks about a possible sale - WSJ), SOV +7.9%, LYG +6.8%, ABK +6.7%, AIG +6.0%, DB +5.3%, C +3.9%, BAC +1.8% (upgraded to Outperform at Baird), RBS +1.6% (WSJ reports the fact that the U.K. government is doing a bailout should remove fears that a large London bank could fail)… Other news: HUN +43.2% (Hexion Specialty Chemicals announces capital contribution from Apollo Management), IVAN +14.8% (Energy Ecuador signs contract with state oil company Petroecuador to develop Ecuador’s Pungarayacu heavy-oil field), AAUK +7.0% (still checking), NOK +4.8% (still checking), QSFT +2.3% (announces appointment of CEO; Intention to repurchase up to $400 mln of common stock).

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