Finally, we broke the three day, narrow trading range. Friday's bullish gap has been wiped out by a bearish engulfing bar, so the bears have the upper hand. Let's see if they follow through.
Companies moving in after hours trading in reaction to earnings: Trading Up: WSCI +11.7%... Trading Down: SONC -3.9%... Companies moving in reaction to news: Trading Up: HOKU +14.8% (Coand Solar-Fabrik Subsidiaries sign polysilicon supply agreement, announces plans for solar strategy); BDCO +12.3% (subsidiary enters into new pipeline transportation agreement); PANC +12.9% (announces substantial antiviral response in bevirimat 250 mg cohort, data support further dose escalation in phase 2b study); ANDE +9.5% (raises 2007 EPS guidance above consensus); CPST +4.7% (announces new distributor agreement for the United Kingdom & the Republic of Ireland); NPO +2.2% (acquires Canadian compressor business); WYE +2.0% (New WHI data show that women aged 50-59 taking oral estrogen therapy had reduced levels of coronary artery calcification); CDR+1.3% (appoints Lawrence Kreider, Jr. as Chief Financial Officer); WWE +1.2% (signs deals in Poland, Serbia, Greece and Turkey); GBTB +1.1% (announces share repurchase program of up to $10 mln of the Co's outstanding common stock).
Economic Calendar: Initial claims at 8:30; Leading Indicators at 10:00; and Philadelphia Fed at noon.
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