Looks like a slightly down open today but the reaction to the Sirius/ XM merger is interesting. You don’t often see the acquiring company bid up on news of a deal.
On Today’s Calendar:
- nothing.
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
Gapping down on weak earnings/guidance: BBW -9.7%, CBRL -4.8%… Other News: BMRN -14.4% (announces no significant difference observed between 6R-BH4 and placebo), ENCY -8.8%, JBLU -7.5% (Morgan Stanley downgrades to Equal-Weight), gold stocks (GSS -6.0%, EGO -3.9%, HMY -2.4%) are lower as April gold is down in early trade, SNDK -2.9% (announces cost cutting measures, also Baird downgrade/Goldman upgrade), VSEA -2.6% and LRCX -2.0% (downgraded by CSFB; down in sympathy AMAT -0.5%).
Gapping Up
Gapping up on strong earnings/guidance: BMRN +4.6%, NSR +4.1%, KBW +8.5%… M&A: TBWC +44.1% (to be acquired by Altra for $24.80/share), FRK +39.5% (VMC to aquire FRK in $4.6 bln deal; up in sympathy EXP +6.7%, RMIX +5.9%), XMSR +17.5% and SIRI +9.7% (announce merger agreement), NRPH +9.0% (to be acquired by SHPGY for $64/share)… Other News: NYNY +20.6% (Spitzer backs plan for Indian casino in Catskills), TMWD +11.9% (upgraded to Buy at Roth with $4 tgt), CELL +10.6% (CIBC upgrades to Outperform with $14 tgt), DOC +5.4% (renews deal with SGP), SYNM +9.5% (announces joint technology development plan with Sinopec), SMG +4.9% (declared $8/share special dividend Friday afternoon), RAME +4.5% (Jefferie
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