Layoffs

Should We Worry Now?

One of the best ways to determine the conviction and/or strength of a trend is by the action during the countertrend moves. For example, since March 9th, the pullbacks have been short, shallow, and for the most part, have lacked vigor. This made it easy to get behind the uptrend and to simply dismiss any and all the negative talk about the rally.

However, over the past two weeks the bulls have started to look a little tired and the rally got ragged around the edges. And then, out of the blue – well, okay, I guess we can’t really say “out of the blue” after a 40% sprint higher and the biggest batch of secondary offerings seen in ages – the character of the market began to change. No longer were the green shoots embraced. No longer was good news considered good news. No, suddenly ...

Vanda Pharmaceuticals, Inc. (Nasdaq: VNDA) 701.9% HIGHER; Won approval from the FDA for its schizophrenia drug. Click here for the full report.

Nashua Corporation (Nasdaq: NSHA) 157.9% HIGHER; Cenveo, Inc. (NYSE: CVO) signed a definitive merger agreement pursuant to which Cenveo will acquire all of the common shares of Nashua in a stock and cash transaction valued at approximately $44.4 million including the assumption of Nashua debt. Here is our full report.

Lear Corp. (NYSE: LEA) 41.8% HIGHER; auto parts stocks are seeing continued upward momentum today. These ...

Vanda Pharmaceuticals, Inc. (Nasdaq: VNDA) 835% HIGHER; Won approval from the FDA for its schizophrenia drug. Click here for the full report.

Nashua Corporation (Nasdaq: NSHA) 152.4% HIGHER; Cenveo, Inc. (NYSE: CVO) signed a definitive merger agreement pursuant to which Cenveo will acquire all of the common shares of Nashua in a stock and cash transaction valued at approximately $44.4 million including the assumption of Nashua debt. Here is our full report.

Vonage Holdings Corp. (NYSE: VG) 68.8% HIGHER; reports Q1 EPS of $0.05, ex-items, 9 cents better than the analyst estimate of ($0.04). Revenue for the quarter was $224 million, versus the consensus of $224.54 million.

LogicVision, Inc. (NASDAQ: LGVN) 37.6% HIGHER; Mentor Graphics (Nasdaq: MENT) and LogicVision today announced the two companies have signed a definitive merger agreement pursuant to which Mentor Graphics will acquire LogicVision. Under the terms of the agreement, which was approved ...

Shares of auto-parts maker ArvinMeritor, Inc. (NYSE: ARM) are ripping higher today after ...

Is It Friday Yet?

One of the difficulties in penning a daily market missive is trying to create something halfway interesting out of days like Tuesday. While there were several news stories worthy of mention, the overall market action was rather blasé as both teams went home unhappy and looking forward to Friday.

I’m not suggesting that as of Tuesday afternoon traders had already thrown in the towel on the week and were looking forward to a couple of days off. No, the key here is that by Friday we’ll have the government’s results from the stress tests, the banks’ versions of the same, and the employment report for April. So, after a big breakout gain of +3% on Monday and some important data on the horizon, it wasn’t surprising to see the bulls “take 5” yesterday.

The bears will argue that the lack of follow-through after Monday’s blast is ...