Monday, June 18, 2007

NASDAQ Technical Picture - Narrow Range Snooze Fest


I'm reducing my risk until we break this NR as I'm finding good setups are few and stocks have a tendency to reverse quickly.

YHOO is trading up on high volume in AH on news that co-founder Jerry Yang has been names CEO.

Econ. Cal. - Housing starts and building permits at 8:30.


Companies moving in after hours trading in reaction to earnings: Trading Up: ZILA +5.4%... Trading Down: ASHW -13.3%; CWST -7.8%; SHRP -2.3%; OMN -1.9%... Companies moving in reaction to news: Trading Up: EPIX +18.5% (Receives FDA response to Vasovist appeal; FDA indicated that further clinical trials may not be necessary to gain approval); YHOO +4.9% (Co-Founder Jerry Yang named Chief Executive Officer); MGRM +3.8% (Expands Coverage of Baseline HIV Resistance Testing); NMTI +3.6% (BioSTAR receives Canadian regulatory approval); TWGP +3.9% (provides update on status of acquisition); AACC +3.0%; (declares special one-time cash dividend of $2.45 per share); ARP 1.9% (SAC Capital Advisors discloses 5.1% stake in SC 13G); DG +1.0% (provides update on status of acquisition); WAVE +1.0 (to acquire wireless broadband spectrum in Austria, Slovakia, and Croatia); ICE +0.90% (announces agreement to acquire exclusive license for Russell Index Futures contracts)... Trading Down: MCHP -7.1% (lowers Q1 revs guidance; guides Q1 EPS); GNTA -3.3% (to request review of FDA action for Genasense NDA in Chronic Lymphocytic Leukemia); ANET -1.2% (announces decision not to proceed with previously announced offer to acquire payment services Interactive Gateway); RIO -1.2% (plans to offer two series of mandatorily convertible notes).

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