Excluding the gap down on the open, today was the same as yesterday. Until we break the narrow trading range, good setups are hard to find.Companies moving in after hours trading in reaction to earnings: Trading Up: IHS +7.2%; CLC +5.0%... Trading Down: FSII -9.5%; DRI -4.6%; LZB -1.0%... Companies moving in reaction to news: Trading Up: AVRX +7.6% (announces positive interim results for AVN944 Phase I trial); HD +5.4% (confirms agreement to sell HD Supply to private equity group for $10.3 bln and $22.5 bln increase in share repurchase authorization); FRPT +4.7% (announces $221.7 mln contract -- DJ); FTEK +1.1% (and ITOCHU announce teaming agreement to pursue FUEL CHEM opportunities in China)... Trading Down: BW -9.2% (lowers Q2 EPS guidance; lowers FY07 EPS guidance); PRW -4.9% (enters into definitive agreements for a $2.7 mln financing); AFN -3.2% (announces a public offering of 8 mln shares of its common stock); OVEN -2.5% (announces it will need to restate historical financial statements to recognize material non-cash charges for stock-based compensation); ATSI -1.8% (Y07 revs guidance above consensus; issues Y08 revs guidance; co to acquire CryoCath Technologies' Surgical Cryoablation Business).
Econ. Calendar: Crude inventories tomorrow at 10:30.
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