Thean,
Not faked out at all with CNXT. I think I made a great trade with my effective "short" at 81 9/16 and rebuy half at 77.25. Stock is going higher (See previous CSFB report with increased earnings targets...). Also, CNXT got some new coverage today: Conexant Systems (CNXT 76 13/16 - 3 3/4) Despite posting strong numbers, CNXT sold-off a bit on Thursday amid a bout of profit-taking... Dain Rauscher Wessels initiated coverage of manufacturer of analog PC and fax modem chipsets with a "strong buy" rating and $107 12-month price target, saying the company possesses a unique expertise in analog and digital signal processing, which are the key building blocks for communications solutions.
GNSS: Right. Nothing really new. I looked at the PUT and CALL open interest after someone on YAHOO mentioned that, and I'll bet they close it right at, or slightly above 20. I still own my short puts, as the MM have been keeping this very rich to buy back (and the spread is still 1/4). I've got my work cut out for me tomorrow, but I'm up to the task. A little adrenalin never hurt!!
The way I see it, PMCS beat whisper of .28 and concensus of .27 with a .29 AND a split. It was showing up 5-8 points at 181 (bid) 184 (ask) in aftermarket. My bet is possibly minor weakness, IF ANY, and then up. The split is effective on Jan 31. PS: Briefing.com commments: PMC-Sierra (PMCS 174 1/2 +4) In addition to reporting better-than-expected earnings after the close, company declared a 2-for-1 split... Up nearly 9 pts in after hours activity.
PHCM is one I am watching for entry. Maybe too late now.
How about those fuel-cell guys? Bill Gates just took a 5% stake in AVA. Check it out.
Steve
PS: With PMCS, TQNT and JDSU all announcing upcoming splits, AMCC is ripe to have one for itself. So is EMC.....again. |
