Tuesday, June 19, 2007

Pre-Market - Tuesday June 19th

Gapping down on weak earnings/guidance: MCHP -7.2%, BBY -3.5% (CC -3.2%, RSH -2.2% down in sympathy with BBY, but on light volume), LEG -1.6%... Other news: ALTH -15.3% (Phase 3 Enrich study of Efaproxyn fails to meet primary endpoint of improvement in overall survival), IMMR -4.5% (Microsoft files suit against co), VOD -1.8% (T CEO said co is not considering an offer for VOD, according to FT), WYNN -1.7% (downgraded to Equal Weight at Morgan Stanley), CSG -1.1% (Reuters reports co will cut jobs as drinks sale nears).

Gapping up on strong earnings/guidance: LNET +4.1%, FDS +3.0%... M&A: CLRK +12.1% (to be acquired by PHG for $34 per share)... Other news: EXPE +16.3% (announces co will repurchase up to $3.5 bln of its common stock in tender offer), EPIX +13.0% (FDA indicated that further clinical trials may not be necessary to gain approval for Vasovist), ZGEN +8.2% (establishes global collaboration with Bayer HealthCare for development and commercialization of recombinant human thrombin), HRS +3.9% (awarded $2.74 bln Navy contract, according to DoD), TASR +3.8% (announces foreign order totaling 1,375 TASER X26 devices), NUVO +3.0% (announces publication of Phase 2 rNAPc2 study results in Journal of American College of Cardiology), YHOO +1.7% (announced resignation of CEO Terry Semel).

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