A clear loss of momentum as most major tech sectors ended the session in the red. Hardware was strong and finally broke out of an ascending base on the strength of AAPL. Expect more of the same as there is little in the way of economic data until the FOMC policy statement on Wednesday. CSCO reports tomorrow AH.Companies moving in after hours trading in reaction to earnings: Trading Up: ADAM +11.2%; MDR +9.3%; HAYN +9.1%; WCG +8.1%; GTRC +8.0%; SONS +3.8%; BITS +3.3%; CENT +3.3%; VOLC +3.2%; WYNN +2.9%; MIVA +2.7%; TLEO +2.6%; STLW +2.5%; DGIT +2.3%; MCK +2.1%; ACMR +2.0%; DCEL +1.7%; TIE +1.4%; AMIE +1.3%; ECLG +1.1%; SQNM +1.1%; PKY +1.0%... Trading Down: CUTR -23.8%; ANSW -22.2%; HLYS -13.6%; PWAV -8.5%; EGLE -7.2%; PHTN -6.7%; FLR -3.9%; DOC -2.6%; SYKE -2.3%; MXWL -2.2%; JCOM -2.0%; WEL -1.9%; SBAC -1.6%; HGR -1.5%; QGEN -1.2%...
Companies moving in reaction to news: Trading Up: TRIS +18.8% (awarded $30.0 mln contract to provide security services for federal facilities in Washington state); ASTM +12.5% (announces FDA approves Aastrom Phase III IND for treatment of osteonecrosis of the femoral head); PDLI +2.1% (Cofounder announces support for refocusing of PDLI)... Trading Down: CYBX -14.2% (announces CMS decision for VNS therapy; CMS confirmed its preliminary determination not to provide national coverage for VNS); AW -3.5% (announces secondary offering of 32.8 mln shares; shares to come from Apollo Mgmt); TRXI -2.4% (acknowledgement regarding Nasdaq rule 4350(D)(2)); KTCC -1.4% (wins new business with Imation); LGCY -1.3% (acquire oil and natural gas producing properties for $12.9 mln).
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