Thursday, October 16, 2008

Pre Market Trading Gap News

Gapping Down

In reaction to disappointing earnings/guidance: UFPI -20.9%, CIT -10.3% (also Moody’s reviews Cit’s ratings for possible downgrade), EBAY -4.1% (also downgraded to Neutral at JPMorgan and downgraded to Neutral from Buy at Piper Jaffray), TXT -4.5%… Other news: PUK -14.8% and BCS -9.3% (still checking for anything specific), AMZN -4.8% (down in sympathy with EBAY).

Gapping Up

In reaction to strong earnings/guidance: CNTF +41.2%, QEPC +20.2% (light volume), BTU +15.5%, CCK +10.1%, STLD +9.1%, UNH +8.4%, NOK +3.9%, XLNX +2.5%… Select gold related names trading modestly higher: AU +7.1%, GOLD +4.6%, GFI +4.1%… Other news: CS +14.8% and UBS +7.4%(Switzerland to inject capital into UBS; Credit Suisse raises 10 bln francs - WSJ), PCX +11.4% and ACI +9.7% (up in sympathy with BTU), LVS +9.7% (rebounding from yesterday’s 20%+decline), IFX +9.2% (still checking for anything specific)… Analyst comments: SHPGY +4.4% and SNY +1.5% (upgraded to Buy at Merrill).

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