Join        Login             Stock Quote

Tuesday November 6th

 November 06, 2007 10:52 AM

Following yesterday's late-session rally, futures are showing continued momentum as they indicate a higher open for the mkt. Unlike the previous three sessions, there are no negative headlines out of the financial sector this morning. From a technical perspective, the S&P 500 yesterday successfully re-tested its Oct low of 1,490. However, there is very little corporate news to account for this morning's positive sentiment. All of the earnings reports since yesterday's close were from lesser-known cos and there are no economic reports today. Fed Chairman Bernanke is speaking at a microfinance conference in San Antonio this afternoon at 13:40ET, but his testimony on Thursday before the Joint Economic Committee is the bigger focus for the mkt. Dow futures are currently +40; Nasdaq futures are currently +10.3; S&P futures are currently +5.8.

Notable pre-market Calls include Upgrades: MA at Deutsche Bank, RIMM at Credit Suisse; Downgrades: C at BofA, SYMC at Lehman... On the Earnings calendar, SAM and EEE are confirmed to report sometime during trading hours. After the close, 47 cos are confirmed to report, though none are expected to be market-moving releases... Today's Economic calendar is empty.

Overbought/Oversold Watchlist -Technical : Stocks that are overbought include: SOHU, PPO, PRGO, UTHR, EHTH, ATHN, & PSEM. Stocks that are oversold include: LCAV, AGO, YSI, ITRI, ZUMZ, ABK, C, BG, JPM, PMI, BEN, BSC, WM, CPO, PCBC, GRMN, GS, MS, GES, MBI, LULU, CSR, & CROX.

Gapping down on weak earnings/guidance: BLTI -20%, CUTR -13.3%, CTSH -9.9%, LLNW -8.9%, FTEK -6.7%, HLEX -6.5%, IMB -6%, AOB -4.3%, LOCM -3.5%... Other News: MNTA -46.2% (Announces receipt of FDA letter - M-Enoxaparin ANDA not approvable in current form), CBAK -12.3% (Entered into a private placement, selling 3.5 mln shares), BSX -5.5% (Announces sale of Cardiac Surgery and Vascular Surgery businesses), JADE -4% (Announces new auditor).

Gapping up on strong earnings/guidance: GTXI +18.4%, DIVX +17.5%, XFML +12.4%, GES +10.6%, VCI +10.2%, THC +9.9%, SYKE +9.3%, AIXG +8.2%... Other news: JSDA +8.5% (CNBC reports JSDA won bid to NJ Nets Barclays Center beverage rights), FSLR +9.6% (announces additional four production lines to support new long term module supply agreements totalling 557MW; several analysts making positive comments on the news this morning), ABK +8.5% (co issues statement disputing recent analyst report).

iOnTheMarket Premium


Comments Closed

rss feed

Latest Stories

article imageThe S&P 500’s Worrisome Downturn In Drawdown

Last Friday I reviewed some of the bearish signals that were casting dark shadows across the US stock read on...

article imageADP: Private-Sector Employment Rises A Solid 200k In September

The pace of growth for private-sector employment picked up in September, according to this morning’s ADP read on...

article imageTreasury Market’s Inflation Expectations Tumble

The odds for a Fed rate hike are falling like a stone, or so it appears based on the implied inflation read on...

article imageEmerging Market Stocks: Last Week’s Red-Ink Leader

Value investors on the lookout for bargains have recently been eyeing up the battered corner of emerging read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.