A nice pivot on the 10:00 reversal and the bulls take over. The $SOX provided leadership.Companies moving in after hours trading in reaction to earnings: Trading Up: FREE +32.2%; JBL +6.9%; COHT +3.4%... Trading Down: TEK -1.7%; COGN -1.5%... Companies moving in reaction to news: Trading Up: CORS +11.9% (approves a special cash dividend on common stock of $1.00 per share); ICGN +10.0% (receives notification from McNeil of termination of collaboration agreement); SIRF +3.8% (to acquire Centrality Communications for approx $283 mln in stock and cash); MBLX +3.5% (announced German court confirms validity of Metabolix patent)... Trading Down: NUAN -1.8% (to acquire Tegic Communications); HOLX -1.4% (to acquire BioLucent for approx $70 mln); SWC -1.1% (announced tentative labor agreement has been reached for Stillwater Mine and processing facilities).
3 comments:
qqqq is leading the market but do you read anything into the weaker rebound of the other indicies? Does that minimize the bounce today?
Hadman,
The bounce today was led by the SOX which broke out of a base. The SOX has generally been lagging, but if it can hold on to these gains, we could move higher due to sector rotation.
THANKS! I will keep a close eye on SMH and SOX. Tomorrow should be an important day.
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