After initially showing little reaction to the recent batch of economic reports, further analysis of the data appears to be contributing to the overall sense of anxiety that is taking a toll on pre-market action. Futures trade has taken a turn for the worse and retracing morning lows as growing fears that a credit crunch is developing, potentially signaling an end to the LBO buyout boom that has provided such strong support to the stock market, remains a huge overhang. QQQQ currently trading at $49.00, below yesterday's session lows.
Gapping down on weak earnings/guidance: WVCM -20%, SONS -17.5%, AKAM -16%%, MKSI -13.5%, RIMG -13%, REDF -13%, MATR -10%, AEIS -9%, BBI -9%, ARMHY -8.5%, LVLT -7.5%, SPAR -7.5%, RNOW -7%, KSWS -7%, BDK -4.5%, FFIV -4%, FCX-3% ...
Other news: CTIC -10.5% (Co reports $20.25Mln offering), EXEL -8% (Co retains right to develop & commercialize Cancer drug XL647, GSK declines option), GPCB -7% (Shares fall on FDA's cancer drug vote on Co's prostate cancer drug/Deutshe downgrade to 'Hold' from 'Buy'), RTP -5% (Still searching for news item), BHP 4% (Still searching for news item).
Gapping up on strong earnings/guidance:
BIDU +18.0%, VDSI +17.5%, FFHL +13.3%, AFOP +11.4%, AGP +9.7%, OMTR +7.8%, CMI +8.4%,
AAPL +6.7%, MLNX +5.5%, OI +5.4%,
WFR +4.8%, FORM +4.6%, BG +4.6%,
SYMC +4.4%, POT +3.0%, CELG +2.6%, F +2.1%,
QCOM +1.4%, ICE +0.9%...
Other news: KFT +0.9% (WSJ reports that Warren Buffett has acquired a small stake in KFT).
