Wang’s Happy Trading

Submitted By OptionDragon

I Turn My Camera On - Spoon

From Briefing.com

This morning GRMN announced excellent earnings beat on both the top and bottom and guided higher. GRMN reports Q4 EPS $1.31 ex-items vs. consensus of $1.11.
Reports Q4 revenue $1.22B vs. consensus of $1.04B. Sees 2008 EPS exceeding $4.40 vs. consensus of $4.26B, sees 2008 revenue exceeding $4.5B vs. consensus of $4.26B. Sees 2008 automotive/mobile segment revenues growing 45%.
This could be a good gap trade candidate and is up $4 as we speak and as high as $78 in premarket and as low as $72.80.
The Nuvifone will be released in Q3. Due to market environment weakness GRMN gap is under pressure from highs.

RIG is gapping up about $3 and beat on EPS, light on revenue and announced a 3 year contract extension at a 20% higher rate last night. RIG in premarket so far went as high as $135.02.
Transocean-RIG reports Q4 EPS $3.40 vs. consensus of $2.54
Reports Q4 revenue $2.08B vs. consensus of $2.28B.

SWC received another upgrade from JPM. SWC target raised to $26, maintain Overweight@JPMS
JP Morgan expects further share appreciation in metals platinum and palladium given the severity of the power problems in South Africa.
CROX gapping down on softer guidance. CROX: Q4 upside, guidance solid, but inventory higher than expected@BARD
Baird said inventory was higher than expected but does not see much risk to CROX’s FY08 outlook based on expected door growth. Views valuation as attractive. After being beaten down to near yearly lows this could hover for awhile as it tries to find its footing.
Hewlett-Packard (HPQ) is trading up +4.6% after reporting both better earnings and higher than expected guidance for the full year in their earnings report after the close of the markets last night. HPQ gapping up almost $2 this morning with a premarket high of $46.70.
NTRI gapping down on much weaker guidance than expected. NTRI: Q1 trends weak, target lowered to $29 from $38@SBSH
Citigroup expected the company to report conservative guidance and notes NTRI faces very tough compares in 1H08. However, they do not believe NTRI lost market share given the weakness at other diet companies and maintain a Buy rating. Citigroup finds the stock attractive at current levels and would not rule out an acquisition if the stock remains at depressed levels.
Expect continued weakness and nonvolatility until next earnings which should be good due to seasonal effects.
WFMI gapping lower, trading down (-2.9%) after an essentially inline earnings report. Sales growth figures may be below hoped-for results.
STP announced horrible earnings missed on all metrics and guided lower, down $8. This is taking down the solars in sympathy with FSLR down $6 and some analysts coming out to defend FSLR- Buy shares now, reiterate Buy@LAZA
Lazard said FSLR is down in sympathy with STP. The firm notes that FSLR is speaking this morning at the Piper Conference at 8:30 am and expects management to aggressively defend themselves. Lazard also says to buy STP on this huge drop and weakness going forward. As oil shot up and FSLR did not follow yesterday that must have been the tell of future price weakness. STP did receive warnings going into their numbers and investors did know all the solars would trade in sympathy with STP this morning.
Let’s see if FSLR can fight off the bearish environment.
GOOG is gapping down $5.55 with a weak market start and also moving from the weeak 10-K filing yesterday saying that Q1 could be weaker as a result of cutting down on accidental clicks.

U.S. equity futures took another dip after the release of the CPI numbers for the month of January, which showed a higher than expected increase. Analysts were predicting a rise of 0.3%, and the actual number was 0.4%. After taking out the two most volatile components, food and energy, analysts were expecting a rise of 0.2%, but the number was 0.3%. These numbers fueled concerns of inflation and raised the question if the Fed would be able to lower rates. This is further pressuring the futures market as the markets look to open weaker.
Market has been running contrary to the open so watch for strength at the end of the day but be prepared for further weakness due to the higher inflation numbers. Hard to see any type of leadership in this market to help lead the market higher.
I am watching the gappers this morning from above as well as shorting IYR, LEH, DRYS possibly.
Long DBA, USO, GLD or ^GOX, UNG. Being real nimble today and shorts are looking like the higher prob play this morning.
After the bell, we have ITRI, AEM, ARII, LFG, OII, TEX, TRN, PSYS have earnings and tomorrow morning we have DGX, RS, ABX, GG, JCP, BCSI, NEM for earnings.

Good luck and Happy Hunting.