Semiconductor stocks are helping the Nasdaq this morning thanks to earnings from the likes of TXN and ALTR. It’s looking like the Naz may finally breakout above its February highs but it’s still early. Let’s see where it closes.
On Today’s Calendar:
- 10:00 — Consumer Confidence
- 10:00 — Existing Home Sales
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: RMD -13.6% (also downgraded to Neutral at Merrill), UCTT -13.3%, IIVI -9.7%, LXK -6.9%, CSL -5.7%, JNPR -4.3% (also downgraded to Mkt Perform at Piper), BJS -4.0%, PTV -3.8%, COH -3.5%, ELN -3.2%, MICC -3.1%, X -3.0%, TGT -2.7%, LII -2.8%… Other news: EPL -5.7% (announces preliminary results of equity self-tender offer), AVNR -4.7% (further profit-taking after the stock gave up most of yesterday’s gain), COGO -3.7% (prices 5.5 mln share offering at $17.50/share), WEN -2.9% (downgraded to Sell at Merrill).
Gapping Up
Gapping up on strong earnings/guidance: TRCR +19.7%, MSPD +13.3%, CPO +7.8%, TXN +8.7% (up in sympathy NSM +4.7%, EGLT +4.0%, AMAT +1.5%, MRVL +1.3%, CY +0.9%), ALU +5.2%, ALTR +5.1%, ESRX +4.6%, ICLR +4.6%… Small-cap biotech momentum continues: PARS +45.9% (announces Phase 2 data, lowest dose of cannabinor produced statistically significant decrease in pain), VION +13.4% (follow-through momentum; co also announced they are presenting at Fortis conference tomorrow), DNDN +5.2% (Provenge approval likely as politics is a factor; efficacy a question – BofA), ABPI +4.5% (reports the results of CRSFungal Profile), MGRM +3.6% (AP reports FDA panel meets today to review PFE’s HIV drug; PFE plans to offer drug alongside MGRM test)… M&A: SMBI +2.6% (to be acquired by Crestview Partners affiliate for $22.35/share in cash)… Other news: FRPT +13.5% (receives $481 mln order from DoD under existing contract), USAT +5.8% (MasterCard and USAT announce that six of America’s most prominent vending co’s are installing e-Port technology), TASR +4.3% (announces two orders from Penn and Hawaii), FNSR +4.1% (still checking).
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