Thursday, April 26, 2007

NASDAQ Technical Picture - Choppy Extension

A choppy session following Wednesday's breakout and ahead of tomorrow's GDP data at 8:30.

Earnings were mixed AH but the internet sector is still momo judging from reaction to BIDU's results.

Companies moving in after hours trading in reaction to earnings: Trading Up: BIDU +22.5%; NMSS +16.3%; VSEA +15.8%; SWIR +14.8%; SIMO +12.4%; IM +11.5%; NETL +10.8%; MEE +10.2%; GB +7.8%; QDEL +6.3%; INTL +5.7%; CTV +5.6%; CLRK +4.9%; MSFT +4.1%; MFE +3.9%; INSP +3.8%; OPLK +3.6%; FLEX +3.5%; MCHP +3.2%; OSIP +2.7%; EVST +2.6%; ABAX +2.2%; NFLD +2.2%; AMIS +2.0%; SNCR +1.8%; SPF +1.7%; NATI +1.5%; HITT +1.4%; TUNE +1.3%; SCRX +1.2%; CW +1.2%; VLCM +1.0%; ELX +1.0%; SPRT +1.0%...

Trading Down:
WFR -10.7%; BOOM -9.7%; AVID -9.5%; INTV -9.2%; VPRT -8.1%; PSYS -7.2%; BRCM -6.6%; CNET -6.4%; YRCW -6.0%; CLDN -5.4%; ACTU -5.3%; CALD -5.3%; MSCC -5.1%; BLG -5.0%; RACK -4.6%; FALC -4.6%; IDTI -4.5%; XXIA -4.5%; SNDK -4.4%; FMD -4.4%; CNXT -4.0%; DOX -3.7%; SCUR -3.7%; CENX -3.2%; OPWV -3.0%; ZIGO -2.9%; CF -2.9%; EMN -2.3%; TRID -2.2%; KYPH -2.1%; COHU -2.1%; LSCC -2.1%; MRCY -2.1%; NEWP -2.0%; RSYS -1.8%; WBSN -1.8%; DECK -1.4%; CKH -1.2%; ONNN -1.2%; JJSF -1.0%...

Companies moving in reaction to news: Trading Up: MDII +11.7% (receives first order for strategic U.S. naval support center project in Europe); IPCS +8.7% (Declares $11.00 per share special cash dividend); IMAX +1.7% (provides status update in connection with delayed filing); AVA +1.1% (files for electric and natural gas rate adjustments in Washington)... Trading Down: PMACA -1.0% (announces approval of extraordinary dividend from its run-off reinsurance business).

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