Gapping up premarket

Thursday, February 28, 2008

In reaction to strong earnings/guidance: AVCI +16.0%, DBRN +12.9%, NKTR +11.5%, LSR +8.7%, CRM +8.6%, CTRP +7.2%, MIDD +7.0%, VISN +6.7%, BRKR +6.0%, NRF +5.5%, FLS +5.4%, FLR +5.3%, MANT +4.5%, NUVO +3.6%, LTD +3.3%, AHT +3.1%, ZINC +3.1%, GEF +2.6%, UHT +1.8%, TELK +1.5%, GIFI +1.3%, MRX +1.2%... Other news: IMMC +22.2% (announces FDA clearance of the CellSearch circulating tumor cell kit for monitoring patients with metastatic prostate cancer), VRNM +12.8% (awarded U.S. Department of Energy grant to speed enzyme development for cellulosic ethanol production), DARA +10.0% (continued momentum from yesterday, announces appointment of new director to board), LTON +8.3% (PT Media Nusantara Citra extends tender offer for 6 mln ADS at $3.80), REGN +8.3% (announces that the FDA approves co's ARCALYST for treatment of cryopyrin-associated periodic syndromes), WPL +7.0% (has retained Merrill Lynch to review strategic alternatives; co postpones earnings release), XNPT +6.9% (Xenoport and GlaxoSmithKline report 'positive' top-line results of final pivotal trial of XP13512/GSK1838262 for restless legs syndrome), EOG +5.5% (still checking), RMBS +3.3% (still checking), APPL +2.5% (presents at Goldman Sachs conference; on track to sell 10 mln iPhones this year, unlocked phones are sign of great demand ), LVLT +2.5% (Level 3 and IBM announce patent cross-license), APPX +1.9% (receives final approval for Irinotecan Hydrochloride Injection), SU +1.1% (announces plans to implement a two-for-one share split)... Analyst upgrades: BBI + 4.7% (upgraded to Overweight at JPMorgan), CHINA + 3.4% (initiated with a Buy at Cantor Fitzgerald), CEM + 1.7% (hearing upgraded to Buy at tier 1 firm), BID + 1.4% (upgraded to Mkt Outperform at JMP).