Tuesday, June 26, 2007

NASDAQ Technical Picture - Holding the 50 MA

Another low volume, directionless day for the NAZ as we await the FOMC on Thursday. All major tech sectors ended the session in the red except biotechs which held a tiny gain into the close.

Economic calendar: Durable orders at 8:30; Crude inv. at 10:30.

Companies moving in after hours trading in reaction to earnings: Trading Up: SPEC +6.85%; NKE +4.79%; FUL +2.30%; ORCL 1.15%... Companies moving in reaction to news: Trading Up: CKNN +0.93% (announces new contract for powercash); DVAX +0.87% (starts HEPLISAV phase 3 in Europe; U.S. Study; and phase 2 in ESRD in Canada) VTIV +0.74% (acquires Chandler Chicco and Innovative Health) YRCW +0.69% (Plans to acquireShanghai Jiayu Logistics)... Trading Down: NUVO -19.16% (NUVO and Bayer HealthCare have agreed to terminate their collaboration on Alfimeprase); GSCI -5.58% (maintains Q2 and FY07 financial guidance).

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