Potential swing trades:
Longs – None until August
Shorts – None until August
Potential day trades:
(From Briefing.com)
Gapping Down
BTRX -41% (disappointing Phase 3 results; JP Morgan downgrade), RIMM -5% (reports MayQ), HLIT -18% (guides Q2 below consensus), PPCO -13% (receives non-approvable letter), ABB -6.5% (guides lower), BKST -6.3% (guides for Q2), FWLT -6% (launches new equity-for-debt exchange), COMS -4.5% (misses by $0.03), CVGI -4.1% (prices 7.86 mln share secondary at $17.75), RSAS -3.6% (JP Morgan downgrade), STZ -3.1% (reports MayQ), MMM -2.7% (loses CEO to Boeing), ELOS -2.6% (raises rev guidance, but was expected), EPAY -2.4% (share offering), BAC -1.4% (to buy KRB), WCG -1.4% (prices secondary offering).
Gapping Up
KRB +27% (BAC makes offer for the co; up in sympathy: COF +5%), BA +4% (names new CEO), CRIS +27% (started with a Buy at Hibernia; tgt $6), ISON +25% (announces first sale of NeutroTest portable explosive-detection device), CNET +10% (NY Post says co has been informally shopping itself; Smith Barney initiates with $13 tgt), PLMO +8.6% (beats by $0.06, guides Q1 revs above consensus), RCOM +7% (Mark Cuban reports 9.1% stake in co), ARNA +7% (favorable Phase 1 clinical trial results), XIDE +5.4% (secures credit agreement amendment and waiver), DYAX +5% (clinical results; also Wells Fargo initiates with $7 tgt), BMET +3.8% (reports MayQ), MCHX +3.2% (RBC upgrade), ELN +3.2% (clinical results), LGF +3% (reports MarQ), SYMC +2.3% (Smith Barney upgrade; VRTS +2.3%), OSIP +2% (grants license to Merck), SCHS +2%, HD +2% (Lehman upgrade), GBX +1.8% (reports MayQ)…. Under $3: JMAR +12% (gets 2 year extension for X-Ray mask program), CRAY +12% (Army order), CNLG +6% (gets military orders).
Intraday Updates:
- 10:40 We’ve got another strong IPO today. VLCM is trading at 30 after pricing at 19. Briefing is comparing it to ZUMZ which has has a good run since its IPO
