Friday, June 15, 2007

Pre-Market - Friday June 15th

Futures indicate another higher open for the mkt following encouraging inflation data. While May CPI rose 0.7% (consensus 0.6%), the more closely-watched core rate rose just 0.1% (consensus 0.2%). That pushed the yr/yr rate down to 2.2%, which is closer to the Fed's "comfort zone". In addition, the June NY Empire State Index rose to a surprisingly strong 25.8 (consensus 12.0) from 8.0 in May. Dow futures are currently +71; Nasdaq futures are currently +13; S&P futures are currently +8.6.

Notable pre-market Calls include Upgrades: FRE at Friedman Billings, NFLX at Soleil, TRMP at Morgan Joseph, IMA at Cowen; Initiations: DTV at Stifel Nicolaus (Buy), DISH at Stifel Nicolaus (Hold)... On the Earnings calendar, no cos are confirmed to report after the close... On the Economic calendar, preliminary Jun Michigan Sentiment (consensus 88.0) will be released at 10:00ET.

Gapping down on weak earnings/guidance: BBW -12.2%, WGO -4.1%, ADBE -0.8%... Other news: HOKU -3.2% (profit taking following yesterday's ~47% move higher), CAL -1.7% (downgraded to Neutral at tier-1 firm).

Gapping up on strong earnings/guidance
: SWHC +6.6%... Other news: EPCT +28.0% (new research shows broad efficacy of EpiCept's Azixa against multiple tumor types and in drug resistant cell line), AXTI +8.1% (initiated with a Buy at First Albany), ACH +7.2% (continued momentum following yesterday's ~9% gain), NMX +6.9% (exploring a sale to NYSE, CME, people say - Bloomberg.com), EXPE + (pre-mkt strength attributed to takeover chatter), HANS +4.9% (upgraded to Buy at tier-1 firm), WOS +2.6% (co was the focus of takeover speculation in European trading - Bloomberg.com), INTC +2.1% (upgraded to Buy at Goldman - Bloomberg.com), ASML +1.9% (tgt raised over seas at Rabo Securities following restructuring), ICE +1.2% (up in sympathy with peer NMX).

Courtesy of Briefing.com

2 comments:

Prospectus said...

Jamie,

I'm terrified that you'll announce that you're quitting blogging, too! Here's hoping the Blog Assassins don't ever find your house.

Jamie said...

Thanks Prospectus.

I do get some heat for spending too much time on the blog. I might start posting from Monday - Thursday only during the summer. We'll see.