5.31.2010

Preview June 1


Remember it was a long weekend so I'm a little off my calls, real time me on twitter if you want better advice, but there are some major winners in here, boomwin.
  1. Clearwire Communications, LLC, an operating subsidiary of Clearwire Corporation (CLWR:$8.14,00$-0.06,00-0.73%) announced today the availability of CLEAR's super fast mobile Internet service to customers in central Washington, D.C. area with expanded coverage to surrounding areas expected in the months ahead. 
    • Long, big pop tomorrow, uptrend all day, your welcome.
  2. Blue Coat Systems (BCSI:$21.47,00$-7.37,00-25.55%) signaled a pre-market open Friday near 24.50 to 24. 
    • A possible short entry point at 25 to 24.50 emerged. 
    • On the long side, more risk tolerant buyers were told to consider a move in at 23.61, up to 24.In pre-market action, the stock ranged between 22.87 to 23.96 and was held to an even tighter range of 21.83 to 23.42 in regular trading, missing our targets.
  3.  CKX Inc. (CKXE:$5.30,00$0.98,0022.69%) shares were up 22.7%, rallying after published reports said Simon Fuller, creator of the "Idol" line of television shows and former banker Roger Jenkins plan to offer $600 million for the entertainment company.
    •  Short, but its a buyout so this is not a typical play, PM me  if you want advice. 
  4.  The Fifth Third Bancorp (FITB$13.00, -2% or 1.68$) board of directors today announced that William Isaac has been elected to the board and named non-executive chairman of the board, effective immediately.
  5. iGATE, (IGTE:$11.68,00$-0.32,00-2.67%) , the business outcome driven integrated Technology and Operations (iTOPS) company, announced that the 2010 Global Outsourcing 100 list of the International Association of Outsourcing Professionals' (IAOP(R)) has named it among the Best 20 Global Outsourcing Leaders in UK and for the second successive year in Canada .
  6. Shereen Solaiman has resigned as the Senior Vice President, Human Resources of Borders Group, Inc. (BGP:$1.9700,$-0.1700,-7.94%) effective May 27, 2010.
    • Short, but possible comeback for the long play.
  7.  Bank of Ireland (IRE:$5.10,$0.21,3.3%) fell 14.60% to $4.33 at 9:44 AM ET on May 25, 2010.
    •  Bank of Ireland raised to buy from neutral at UBS on 5/28/10. 
  8. Hersha Hospitality Trust (HT:$4.83,00$0.01,000.21%) rose 10.21% to $4.75 at 10:20 AM ET on May 26, 2010.
  9. Hitachi Ltd (HIT:$40.41,00$-1.09,00-2.63%) , Japan's largest electronics maker, said on Tuesday that it is reviewing the structure of its nuclear power partnership with General Electric Co (GE:$16.35,00$-0.31,00-1.86%) , as it seeks to win more deals globally.
    • Long, big deal here, could lock in alot of gains. 
  10. Flagstar Bancorp (FBC:$5.0800,$0.3800,8.09%) says a one-for-ten reverse stock split went into effect on Thursday
    • FLAGSTAR BANCORP INC  rose 10.09% to $5.17 at 3:57 PM ET on May 28, 2010.
    • Long, love this company 1 of 2 companies who have over 1billion assets, but trade under a dollar until they did the reverse split. still good buy.
  11. ACAS - 5.33, up after hours to 5.4, depending on sway of mkt I like the this stock to move. 
    • Radiation detection and monitoring company Mirion Technologies Inc shelved plans for an initial public offering 
    • Most of the proceeds from the offering were set to go to private equity owner American Capital Ltd
    • Short, it popped after hours, perfect time to short, weak mkt, bad news, etc. Short it. 
  12.  The U.S. IPO market has been rough lately, with a half-dozen offerings scrapping their plans this month because of volatile markets. The only company to go public this week, genetic-test maker GenMark Diagnostics Inc. (GNMK:$5.40,00$-0.60,00-10.00%) , closed at $5.40 a share, down 10%, on its first day of trading Friday.
    • Long, depending, this is more of a guess.
    1. Price: 21.72, Change: -7.12, Percent Change: -24.7
  1. BP ($2.43, -5.45%) shares were off 0.2% at $42.88 as The New York Times reported, citing a technician involved with the response efforts, that BP late Friday had resumed its efforts to plug the leaking well. Pumping operations had been suspended for nearly 12 hours starting early Friday morning, marking the second time a suspension was put into place, according to the report.
    • Long, Their shares are so undervalued because of this spill, $50 was their old price, be careful not to long these shares too early as the price may continue to drop until they get a hold on the leak.
DOWNSIDE MOVERS
(-) DJSP guides for miss.
(-) BCSI continues evening slide on disappointing guidance.
(-) ETN turns down despite upgrade.
(-) NOK turns down despite upgrade.
(-) FLEX erases gains despite buyback.
UPSIDE MOVERS
(+) MENT gains on report Icahn takes stake; loss wider than expected.
(+) TTWO upgraded.
(+) PG upgraded.
(+) VVUS to report positive erectile dysfunction treatment data at conference.
(+) AAPL gains on iPad push, Jim Cramer comments.

MONDAY, May 31
U.S. Markets Closed for Memorial Day Holiday.

TUESDAY, June 1
  • Extended-Hours Earnings: PSS, LGF, WPRT.
  • Economic Data: 10 a.m. Construction Spending; ISM Index.
WEDNESDAY, June 2
  • Extended-Hours Earnings: CSIQ, CWTR, CYBX, DAKT, DDMX, GEF, HOV, HRAY, LAYN, MDCI, ROLL, SNDA, SCVL, UNFI.
  • Economic Data: 10 a.m. Pending Home Sales; 10:30 a.m. Crude Inventories; 2 p.m. Auto/Truck Sales.
THURSDAY, June 3
  • Extended-Hours Earnings: AGYS, CRMT, CHRS, JRJC, XIDE, JOSB, JOYG, AHO, KKD, MATK, MOD, NAVR, OCLS, ZQK, SAI, SNIC, STP, COO, UTIW.
  • Economic Data: 8:15 a.m. ADP Employment Change; 8:30 a.m. Initial Claims; 10 a.m. Factory Orders; ISM Services.
FRIDAY, June 4
  • Extended Hours Earnings: AMWD, BTH, CMED, DCP, MPR.
  • Economic Data: 8:30 a.m. Unemployment Rate. 
ECONOMIC UPDATES:
  • Consumer:
    • Consumer shares moved somewhat higher a several big names stemmed losses but the broader market remained lower. In company news Hasbro Inc. (HAS:$40.15,00$-0.42,00-1.04%) got an early boost from Fitch Ratings, which affirmed its debt ratings and gave it a stable outlook. Tax preparation firm Jackson Hewitt (JTX) kept gains after the company said it sees "modestly positive" earnings and forecast 2010 revenue above analysts expectations.
  • Oil
    • XOM: -0.50%
    • CVX:  -0.22%
    • COP: +0.04%
    • SLB: -5.47%
    • OXY: +0.82%
    • Energy shares were mixed as the broader markets were lower and oil futures traded flat in late-session trading.
    • Oil for July delivery, the most active contract, declined $0.58, or 0.8%, to settle at $73.97 a barrel on the New York Mercantile Exchange.

    Penny Stock Pick of The Day
    1. BISU - .15, a friend told me this will blow up in the next week or so, I'm skeptical on these pennies but you never know...Investrors Underground

     
Boomwin Radar's done by at