My newsletter, and I'm gone for the day:
Let's talk IPOs....
A future one to watch for away down the road....
>>E-commerce software firm Propel has drawn a $36 million round of financing. Investors include Netscape founder Marc Andreessen, Colin Powell, EBay CEO Meg Whitman, Alfred Chuang of BEA Systems, Zero Gravity Venture Partners and MSD Capital LP, which is the private investment firm for Michael Dell. New investors in Propel, an expert in XML technology, include Eric Greenberg, Co-Chairman and Co-CEO of 12 Entrepreneuring, and founder of leading Internet companies Scient and Viant, and RSA Security. "Our goal is for Web sites to offer a superior user experience, built on a highly scalable platform, without spending hundreds of hours and millions of dollars," said Steve Kirsch, CEO of Propel. <<
cbs.marketwatch.com
TBIO performed well. I'd watch both for day 2.
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And earnings weren't bad...
cbs.marketwatch.com
yet even if today proves lucrative, I expect a late selloff in advance of Uncle Algae's appearance tomorrow. So most of the fun will probably occur before lunch.
cbs.marketwatch.com
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So let's look at a few for the next 2 days....
CMTN has an interesting chart, with a gap above and below, to fill. This could trade 2 ways in the next 2 days, so deserves attention. Analysts gave it targets of 140 and 150 yesterday
Another with twin gaps is AFCI, with an analyst target of 103 given yesterday.
BKHM looks poised, with 2 pts in AH... at 70, and in this mkt, I can't tell whether to expect 76, 80, 84 or 100. So I'll fudge it, and say 80-85 is the most likely range for it, near term. It's a mkt better suited for taking profits early, after all.
Here's a great one folks....
bigcharts.com
PXLW at 32, up to 33 AH, and destined for 37-38 today.
At 88 and up nearly 10 pts in AH, is SSTI. Why? The street expected 50 cents net profit. And got 71 cents/share. Wow. SSTI could go to 100, 104, 108, 110 or 114 on the news. I think 104-110 is where to sell.
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But back to QPs...
EFDS will make a run at Day 1 today, so target 12-3/4 for 20%. That's about all for it.
MRVL at 62-3/4 but as long as it doesn't break below 57 today, it can still take the target of 69-70. For all I know, it could do 75 or more even (84?)... but I'll settle for 70.
STLW at 35 looks poised for 42 now. 45 is a long shot.
GENU would have to do 20% to match day 1 opening price. Doubtful. But it looks poised for a good jump. 15%? Play it like an IPO today.
Still bullish on CPST at 54, and looking for 70, 72 or 78. I just don't want to see it break below 50 and a close at 52 coould produce a great final 2 days for this one.
VRGE could also turn around quick here, at 19-3/8. Since I targetted 25 for it (over 30% higher), I'd watch it. A break below 18 would be the place to capitulate, however.
Those are all that come out of QP Monday... and Tuesday?
EXFO, at 72, could do 87-88 yet, for 20%.
MOBE could take 16, for 20%. Longshot at 19, for about 40%.
NTES, at 8.25, should make a run at 12 (day 1) again, and I doubt it can drop below 7-3/8... half of its QP high.
PRSE? STOR? Seemingly done.
Others, not in finals week?
IVTA bears watching. At 25, could be headed for 30, 33, or 44.
ASTT should be nearing a bottom here. Watch today thru Friday for a rebound.
ACLS headed lower before higher. I'm looking for a bottom near 20.
ENTG could turn here and head 30% higher nearterm. (16.5-17) Watch it!
DVIN will drop before rebounding. Gap fill necessary, I think.
IMNY may have based, but other than watching, no recommendation yet.
NENG looks ready to settle before going anyplace.
SRTI, one of my two faves from last wk, jumped 22% yesterday and was up 2 pts in AH. At 49, it wants 60. I'd watch it... but it's young enough that it may settle to 45 first.
TNSI looks ready to settle before taking off. OVTI (my other fave of last week) too. Also PTIE.
And yesterday's? As I noted at the beginning, I'd watch DCGN and TBIO, but TBIO has better odds today....
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Which leaves IPO's.....
AGNT's growth rate doesn't impress me, nor its UWs.... I'll likely skip day 1 unless it opens terribly low. Its mgt looks impressive though, so don't dismiss it in QP. Considering the sector & customer list, its financial performance has been disappointing.
SPRT, a dotcom that's not a dawgcom, still loses money. Some of my least fave UWs, CSFB, Bear, CH&Q plus WITC... and Bear has a huge stake in it as well. Again, I'll wait till later in QP. Overoptimistic pricing, in my view.... might break on day 1. It compares to CKSW.....
Of the 2, AGNT is better, even day 1. But better IPOs are ahead.
Are these out yet?
>>There are three foreign issues not shown on this week’s IPO calendar. Other than their names, the investment bankers and some of the proposed terms, not much is known about them. There are no available Edgar filings, and WFN’s Street sources who handicap IPOs have no information either. Those deals are: First is Aptech. At press time, no details are known other than its banker is Morgan Stanley Dean Witter. Then comes Daum Communications (Nasdaq: DAUM proposed), a Korean-language portal Web site based in Seoul. Its banker is Credit Suisse First Boston. And the last foreign offering is Embraer Aircraft (NYSE: ERJ proposed). The company expects to offer 18.9 million shares through an underwriting team lead by Merrill Lynch. The company is a Brazilian aircraft manufacturer. All that can be said is that when the stock market runs hot, strange things happen.<<
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News? These could move well....
07:58 [PXCM,AETH] PROXICOM, AETHER SYSTEMS IN PREFERRED PARTNERSHIP FOR WIRELESS E-BUSINESS
07:53 [ELN] ELAN CORP.'S Q2 EARNS AHEAD OF FIRST CALL CONSENSUS 35 CENTS
07:53 [ELN] ELAN CORP. POSTS Q2 EARNS 36 CENTS EXCL CHARGES VS. YEAR-AGO 29 CENTS
07:45 [ZD,ZDZ,CNET] ZD SHARES CONVERT INTO 0.3397 CNET SHARES; ZDNET SHARES CONVERT INTO 0.5932 CNET
07:42 [ZDZ,CNET,ZD] CNET TO ACQUIRE ZDNET IN STOCK DEAL VALUED AT $1.6 BILLION
19:04 [SSTI] SILICON STORAGE TECHNOLOGY Q2 REVENUE $103 MLN VS $23 MLN YR AGO QTR
19:03 [SSTI] SILICON STORAGE TECHNOLOGY Q2 EARNS 71 CENTS VS WALL STREET ESTIMATE 50 CENTS
19:01 [SSTI] SILICON STORAGE TECHNOLOGY Q2 EARNS 71 CENTS VS LOSS 15 CENTS YR AGO QTR
16:39 [DIGL] DIGITAL LIGHTWAVE Q2 EARNS 20 CENTS VS. BREAKEVEN YR AGO QTR
16:39 [DIGL] DIGITAL LIGHTWAVE Q2 EARNINGS BEAT FIRST CALL ESTIMATE OF 14 CENTS
16:37 [RFMD] RF MICRO DEVICES Q1 EARNS 19 CENTS VS. 12 CENTS YR AGO QTR
16:34 [INTC] INTEL Q2 EARNS 50 CENTS VS. 26 CENTS YEAR AGO
16:07 [PHTN] PHOTON DYNAMICS Q3 EARNS 36 CENTS VS. 28 CENTS YR AGO QTR
16:07 [PHTN] PHOTON DYNAMICS Q3 EARNINGS BEAT STREET EXPECTATIONS OF 31 CENTS
15:27 HOUSE REJECTS BILL TO STRIP CHINA OF NORMAL TRADE STATUS
(China stocks today?
Message 14070246
I'd sure watch NAVI, still, with CRIO due...
GIGA 8 1/4
Giga-tronics Reports 353% Increase in 1st Quarter Earnings
biz.yahoo.com
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Plenty there to gnaw on, I think, and QPs are most of the best plays in this mkt.
NASDy futures show another gap to the downside..... down 38 pts.... support is strong enough at 4050 to look for a rebound from there or from 4100... play smart today and there can be good gains.
Best to ya!
Kevin |
