6.28.2010

Preview June 29

  1. 3M (MMM:$78.98,00$0.08,000.10%) advanced in after-hours trade after guiding for Q2 sales in-line to above the Street view.
  2. Micron Technology (MU:$10.02,00$0.56,005.92%) declined in after-hours trade despite reporting a sharp year-over-year increase in Q3 results.
  3. Rambus (RMBS:$18.36,00$0.05,000.27%) firmed higher in evening trade after signing a broad licensing pact with General Electric (GE:$15.00,00$0.09,000.60%).
  4. Shares of Forest Laboratories (FRX:$27.97,00$0.34,001.23%) were down in after-hours trading after the company announced results from its clinical trial of its pain killer radiprodil for the treatment of neuropathic pain associated with diabetic peripheral neuropathy.
  5. General Mills (GIS:$37.40,00$0.06,000.16%) is expected to report fourth-quarter earnings of 82 cents a share, according to analysts polled by Thomson Reuters.
  6. Standard Microsystems Corp. (SMSC:$23.34,00$-0.20,00-0.85%) swung to a better-than-expected profit in its fiscal first quarter on a surge in sales and record-high margins.
  7. Barnes & Noble (BKS:$16.41,00$-0.02,00-0.12%) reports Q4 sales of $1.3 bln, up 19% from year ago levels. Loss, including certain benefits, was $0.58 per share. Loss for the quarter, excluding benefits, was $0.89 per share. The Street view was $1.28 bln in sales and a loss of $0.81 per share.
  8. Depomed (DEPO:$2.98,00$-0.02,00-0.67%) announced that it has received a $10 million milestone payment from Abbott Products, Inc., its licensee of DM-1796, for the U.S. Food and Drug Administration's acceptance for filing of the New Drug Application (NDA) for DM-1796 for the management of postherpetic neuralgia (PHN), or pain after shingles.
  9. DARA BioSciences (DARA:$3.90,00$-0.02,00-0.51%) announced that SurgiVision, Inc., a privately held company of which DARA owns 1,613,258 shares and warrants to purchase an additional 405,000 shares, has received 510(k) clearance from the Food and Drug Administration (FDA) to market their ClearPoint system in the United States for general neurological interventional procedures.
  10. Halozyme Therapeutics (HALO:$7.58,00$0.22,002.99%) announced clinical trial results showing that the addition of its proprietary rHuPH20 (recombinant human hyaluronidase, PH20) enzyme to three different mealtime insulin analogs accelerated their absorption.
  11. HSBC Holdings (HBC:$48.02,00$-0.41,00-0.85%) closed down 0.9%, just trimming a 1% decline recorded in pre-market trading after the company was reportedly downgraded to Neutral from Buy at Nomura.
  12. A gathering storm was set to delay efforts to capture more oil gushing into the Gulf of Mexico, even as BP Plc (BP:$27.05,...) said on Monday a relief well being drilled to end the leak for good was within 20 feet (6 metres) of the blown-out well. So when it could be a good short, or you could long some shares now, under $30 seems cheap, long term.
  13. Rite Aid Corp. (RAD:$1.0600,$0.0500,4.95%), alot of enthusiasts seem to think WAL is going to buy this company, since CVS & CareMark merged. 
  14. Barnes & Noble Inc (BKS:$16.41,00$-0.02,00-0.12%) reported a larger quarterly loss as it incurred costs to develop its digital bookstore but forecast a sharp sales increase next year, fueled by sales of its Nook electronic reader and e-books.
  15. Property manager Welsh Property Trust Inc (WLS:$0.00,00$0.00,000.00%) is expected to price on Wednesday after the close of the market, an underwriter said on Monday. 8.5 to 10.5/share possibly.
Side Note:
Most of these positions I use for intra day scalps, although some are longer, I hold no positions in any stocks at the moment other than NOVL 5k shares @ 5.78.