We’re set for a lower open mostly due to the earnings warnings that rolled in overnight. The gaps down are relatively small though. QQQQ is set to open around yesterday’s gap so I’ll be watching to see if that gap can provide support.
On Today’s Calendar:
- 10:00 — Pending 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. Also be sure to check my typical swing trade entry & exit rules.
Potential day trades:
(From Briefing.com)
Gapping Down
In reaction to disappointing earnings/guidance: FDX -10.0% (also downgraded to Neutral from Buy at Merrill Lynch), PBY -8.7%, CNW -6.8% (target lowered to $39 at Stifel Nicolaus), NUE -6.7%, KR -4.8%, NSM -3.8% (downgraded to Equal Weight at Morgan Stanley), NVLS -3.1%, MOLX -2.2%, TXN -1.9% (also downgraded to Neutral from Overweight at Global Crown Capital), DHR -1.8%, A -1.4%, BRCM -1.3%… Select financials trading lower: STD -4.6%, MS -3.7% (Goldman and Morgan Stanley Q4 ests cut at Keefe Bruyette), CS -3.0%, BAC -1.6% (issues statement regarding Republic Windows and Doors), GS -1.5% (Goldman and Morgan Stanley Q4 ests cut at Keefe Bruyette), AXA -1.4%, C -1.2%, WFC -1.2%, JPM -1.1%… Select iron/steel names trading lower following NUE guidance: X -3.2%, AKS -2.7%, STLD -2.6%… Select metals/mining showing weakness with lower spot prices: HMY -4.8%, AU -3.4%, GFI -3.3%, AUY -2.9%, MT -1.0%… Select solar names trading lower: JASO -5.7%, ESLR -5.7%, FSLR -4.7%, LDK -3.7%, SOLF -2.4%, SOL 1.6%… Other news: TRGT -28.4% (Targacept and AstraZeneca announce top-line results from phase IIb study of AZD3480 in cognitive dysfunction in schizophrenia; AZD3480 did not meet the trial’s criteria for statistical significance on the primary endpoints), HOV -8.2% (still checking), RY -6.1% (announces common share offering), UPS -5.8% (down in sympathy with FDX; also downgraded to Neutral at JPMorgan), HTS -5.7% (announces launch of common stock offering), LVS -4.7% (still checking), GM -4.1% (U.S. could take stakes in Big 3 – WSJ), NYX -2.9% (still checking), F -2.4% (U.S. could take stakes in Big 3 – WSJ; also Reuters reports Ford discusses Volvo sale to China Changan)… Analyst comments: STP -6.9% (downgraded to Hold at Jesup & Lamont), DIS -2.5% (downgraded to Neutral at Pali Research), EMC -2.4% (downgraded to Sell at Calyon), BNI -2.4% (downgraded to Underperform at Merrill), RIO -2.2% (downgraded to Hold at Deutsche Bank), MMM -1.6% (downgraded to Underweight at Barclays), UNP -1.2% (downgraded to Neutral at Merrill).
Gapping Up
In reaction to strong earnings/guidance: AZO +4.7%… Select drybulk shippers trading higher: DRYS +12.2%, EXM +5.8%, GNK +5.4%… Other news: XCO +9.7% (announces results of first horizontal Haynesville completion), HSTX +3.9% (Harris evaluating strategic alternatives related to its ownership in Harris Stratex Networks), HIG +3.6% (still checking for anything specific), CHK +2.6% (continued strength following yesterday’s 20%+jump), NAT +2.5%, GXP +1.8% and FO +1.7% (Cramer makes positive comments on MadMoney), BCE +1.5% (issues statement regarding privatization transaction; PwC has not been engaged to provide the solvency opinion required in connection with the closing of the transaction)… Analyst comments: NOK +2.5% (upgraded to Neutral at Goldman – DJ).
Disclaimer & How I use this list
