Wednesday, May 1, 2013

Morning movers

Good morning
I sent out a list last night so if you missed it scroll down to last nights post and take a quick look, there were quite a few movers on that list.
Yesterday was another decent day. I sold out of my $NQ swing added some to my $SIRI. I tried playing $BCRX, $ANAD and neither one could get out of its own way. I wound up selling $BCRX for a 2 cent gain and I am still holding $ANAD.

The market has been amazing, and we have now entered the famed "Sell in May and go away"  zone. I personally feel like we are approaching a blow off top and reversal in the markets. The earnings and economic data just don't match the market in my view. With that being said, I am being very disciplined with my stops and I am limiting the amount of swings. The only thing we have going is an easy Fed in my opinion however that can't fix everything forever at some point reality will set in.

That doesn't mean that there won't be some great companies to take as swings. Earnings are the key and when the charts line up with the fundamentals they can often be worth the risk of holding overnight.

Stocks that caught my eye this morning and additions to last nights list.

$SYNC pr, $MGM, $Z, $GDOT earnings, $MNOV pr *has a tendency to be a fader, $FCX upgrade fits that miners theme from last night,

Seeking Alpha



Today's economic calendar:
Auto sales
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
9:00 PMI Manufacturing Index
9:00 Treasury Refunding Quarterly Announcement
10:00 ISM Manufacturing Index
10:00 Construction Spending
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement

Notable earnings before today's open: AB, ADT, AFAM, AFSI, AGN, AH, AMT, ARW, AVA, CCJ, CHK, CLH, CLX, CMCSA, CVH, CVS, DLPH, DVN, ENR, EXAS, EXC,GRMN, GWR, H, HSP, HUM, ICE, IPGP, IQNT, IRM, JRCC, KCG, KFN, MA, MKL, MRK, NVO, PDCE, PKD, POR, PSX, RDC, RDN, SEE, SPW, TLM, TWX, VG, VIAB, VICL, VPHM

Notable earnings after today's close: ALL, ARI, ARR, ATML, ATO, ATW, AXLL, AXTI, BKD, BMR, CACI, CAR, CBS, CJES, CNQR, CSOD, CVD, CVI, CVRR, CWT, CXO, DVR, DX, DXCM, DXPE, EDMC, ESS, EXPD, EXXI, FB, FNF, FRT, G, GLUU, GNK, GTAT, HNSN, HR, IPI, IPXL, IVR, JDSU, KIM, LNC, LOCK, LVS, MAC, MAR, MET, MUR, NAVB, NGD, NLY, NTRI, PHH, POL, PRU, PSE, PXD, QUIK, ROVI, SAM, SFLY, SGMO, SLTM, SNCR, STX, TEG, TGI, TPC, TSO, TTEK, UAN, UNM, V, VVC, WES, WLT, YELP

Briefing.com
Gapping up                                                                    

    
In reaction to strong earnings/guidance: MSPD +31% (also Mindspeed hires      
Morgan Stanley to evaluate strategic alternatives), RATE +12.8%, IQNT +12.4%  
(also sells global data business to GTT for $54.5 mln), GPRE +11.1%, FIRE     
+9.9%, TRLA +9.3%, JRCC +7.9% (light volume), DWA +7.2% (Dreamworks
+Animation
to purcahse a teen centered YouTube network, according to reports ; upgraded  
to Neutral from Underperform at BofA/Merrill), CAVM +6.5% (light volume), SONS
+6.2% (light volume), GNW +6%, GDOT +5.4%, BGFV +5.4%, PBIB +5.4%, (light     
volume), SHOR +5.3%, (light volume), CHK +4.2%, BCOV +4% (light volume), NCR  
+3.8%, LCI +3.4%, XCO +3.3% (light volume), EZPW +3% (light volume), ENR      
+1.9%, ELLI +1.8%, MX +1.6%, SIMG +1.4% (light volume), CMCSA +0.9%, HCC
++0.6%
(light volume).                                                               
                                                                              
M&A news: OUTD +5.7% (InterMedia Partners VII and InterMedia Outdoors Holdings
deliver proposal to Outdoor Channel Holdings; proposed offer to acquire 100%  
of outstanding common stock of Outdoor Channel at $9.15 per share).           

Select oil/gas related names showing strength: RDS.A +1.7%, BP +1.6%, RIG     
+0.8%, SDRL +0.1%.                                                            
   
Other news: AVEO +5.1% (modestly rebounding), OPEN +1.5% (S.A.C. Capital      
discloses 5.0% passive stake in 13G filing), NUAN +1.1% (Carl Icahn discloses 10.72% passive stake in amended 13G filing, up from 9.27% previously reported 
on 4/1), Z +1.6% (following TRLA results), VOD +0.6% (Verizon is planning to  
line up funds for $100 bln bid to buyout VOD joint venture, according to      
reports), GM +0.2% (reports suggesting the company may return to the S&P 500  
index).                                                                        

Analyst comments: AMGN +2.5% (added to Conviction Buy List at Goldman) 
                                                                               

Gapping down                                                                  

In reaction to disappointing earnings/guidance: MELA -13.8%, SWI -7.2%, BGC   
-7.2% (light volume), UNXL -6.6%, GEVO -5.1%, (light volume), SPW -4.7%, MRK  
-4.6%, TRMB -4%, CSGS -4% (light volume), CMCSA -3.8%, IACI -3.8%, QCOR -3.6%, ACAS -2.7%, TWX -2.6%, AUY -2%, CRAY -1.9% (light volume), MA -1.6%, MTW -1.4% (light volume), OKE -1.3% (also downgraded to Equal-Weight from Overweight at Morgan Stanley), VRSK -1.3% (light volume), FISV -1.2%, FTNT -0.9%, FLEX -0.8%
(light volume), SIMG -0.8%.                                                   

  
Select metals/mining stocks trading lower: SLW -2.2%, ABX -1.1%, KGC -1.1%,   
SLV -0.7%, GLD -0.4%.                                                         
     
Other news: EKDKQ -29.7% (Eastman Kodak initiates emergence process: files    
plan of reorganization and disclosure statement (Stock Price: 0.37)           
), HIMX -4.5% (filed shelf to potentially offer and sell from time to time in 
the future, in one or more public offerings, up to 25,472,673 and 25,399,753  
of American Depositary Shares), PEI -4% (announces launch of 10 mln common    
share offering), DCTH -3.5% (continued weakness), CALL -3.2% (filed amended   
10-K), NTI -0.3% (announces pricing of public offering of 12 mln common units 
at $26.28 per unit).                                                          

   
Analyst comments: LSI -1.7% (downgraded to Neutral from Buy at Goldman) OIS   
-11% (downgraded to Underperform from Market Perform at BMO Capital), BIIB   
-1% (removed from Conviction Buy List at Goldman), EIX -0.6% (downgraded at   
ISI and BMO),   
Today's Upgrades:
CompanyTickerBrokerage Firm
Denny'sDENNFeltl & Co.
Cobalt International EnergyCIECapitalOne
TriCo BancsharesTCBKSandler O'Neill
Ultimate SoftwareULTICanaccord Genuity
Nobel Biocare Holding AGNBHGY.PKCitigroup
Newmont MiningNEMMackie Research
ShoreTelSHORCraig Hallum
Green DotGDOTCompass Point
MindspeedMSPDCraig Hallum
Del Frisco's RestaurantDFRGRaymond James
Dreamworks AnimationDWABofA/Merrill
InfosysINFYSusquehanna
Southern CopperSCCOBB&T Capital Mkts
Freeport-McMoRanFCXNomura
Artisan Partners Asset MgmtAPAMKeefe Bruyette
TruliaTRLAJP Morgan
Today's Downgrades:
CompanyTickerBrokerage Firm
MGIC InvestmentMTGCompass Point
Nuance CommunicationsNUANMorgan Stanley
ONEOKOKEMorgan Stanley
Tesoro Logistics LPTLLPRaymond James
Crimson ExplorationCXPOJohnson Rice
Breitburn EnergyBBEPCitigroup
EV EnergyEVEPCitigroup
QEP ResourcesQEPSusquehanna
Oil StatesOISRaymond James
Entropic CommsENTRNeedham
MindspeedMSPDRaymond James
MicroStrategyMSTRRaymond James
FiservFISVOppenheimer
EastmanEMNCredit Agricole
Magellan HealthMGLNCitigroup
LSI LogicLSIGoldman
Arlington Asset InvestmentAIWunderlich
Crimson ExplorationCXPOMLV & Co
Good luck trading today !!
Good luck trading today!!