As discussed in my weekend post, the 200 DMA was the last vestige of hope for the bulls and it worked, for now.All of Wall St. will be focused on the FOMC policy statement tomorrow at 2:15.
Companies moving in after hours trading in reaction to earnings: Trading Up: WYNN +10.4%; NAVR +9.9%; ASEI +9.3%; MNT +9.2%; NVTL +8.9%; XCO +8.5%; MR +8.3%; HIMX +5.9%; OMPI +5.3%; AUDC +4.7%; LOCM +4.2%; TNS +4.2%; BMC +4.1%; NILE +3.2%; CUTR +2.7%; WEL +2.5%; DECC +1.0%... Trading Down: AHS -21.8%;TMTA -13.8%; ENCY -10.1%; CTRP -7.6%; HAYN -7.0%; JCOM -6.4%; RTEC -4.9%; NHI -4.8%; GPK -4.7%; SWC -4.7%; VRNM -4.6%; BEXP -4.4%; TAL -4.1%; SINA -3.4%; CNO -3.3%; THK -3.4%; ITWO -3.1%; CXW -2.6%; KRO -2.4%; PSD -2.2%; SRSL -1.9%; HLEX -1.7%; SYKE -1.4%; AXS -1.1%... Companies moving in reaction to news: Trading Up: CRGN +40.0% (provides update on Velafermin, Belinostat and CR011-vcMMAE clinical development programs); SLM +1.3% (issues statement regarding merger; reaffirms that its merger can and should be consummated in October 2007); DRYS +1.1% (announces agreements to purchase 8 Drybulk Vessels)... Trading Down: KCAP -6.1% (reiterates that it has no mortgage debt exposure); DWA -2.9% (announces sale of shares by Paul Allen; increases size of existing share repurchase program to an aggregate $150mln); CMP -2.2% (subsidiary to increase sulfate of potash specialty fertilizer prices); RKT -1.8% (announces amendment to senior credit facility to increase limit on cash repurchases of the co's common stock to $100 mln during any FY); MET -1.5% (to acquire SafeGuard, provider of dental and vision benefits; terms not disclosed); AOC -1.3% (Appoints Michael D. O'Halleran Aon Re global executive chairman, Ted T. Devine Chief Executive Officer); SCHW -1.2% (reiterates that it has no mortgage debt exposure).
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