Potential Bounce Candidates: AIG, NURO, BRO, GYI, BRLC
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Potential Bounce Candidates: Theses stocks were sold off aggressively yesterday and traders will look for possible bounces in the stocks in the days ahead. Of course, they can continue lower.
AIG (NYSE: AIG) fell nearly 12% yesterday after the company said its auditors found material weakness in its internal control over financial reporting and oversight relating to the fair value valuation of the AIGFP super senior credit default swap portfolio. AIG also said is has not yet determined the amount of the increase in the cumulative decline in fair value of AIGFP's super senior credit default swap portfolio to be included in its December 31, 2007 financial statements. Today the stock is up over 1%.
NeuroMetrix (Nasdaq: NURO) fell 49% yesterday after Stanford Group downgrades the stock from Buy to Hold, citing doubts about the level of insurance reimbursement for its product. Today, the stock is down another 18% following Q4 results.
Brown & Brown (NYSE: BRO) fell nearly 16% yesterday following reporting a decline in Q4 profits. Net income was $0.23, down 12.3% from last year and well below the consensus of $0.40. Today, the stock is down another 1%.
Getty Images Inc. (NYSE: GYI) sunk over 9% yesterday after the New York Times reported that the auction of the company has stalled. According to the paper, while several private equity firms have expressed interest in the distributor of pictures and video, the company has not received any offers significantly above its current market cap.
Syntax-Brillian Corp. (Nasdaq: BRLC) was down over 14% yesterday after the company said they will need to delay the release of its second quarter earnings results due to issues related to accounting concerns. Specifically, the Company said it needs additional time to evaluate its accounting treatment related to its tooling deposits. Syntax has not yet set a date as to when its second quarter results will be released. Today the stock is down another 1%.
AIG (NYSE: AIG) fell nearly 12% yesterday after the company said its auditors found material weakness in its internal control over financial reporting and oversight relating to the fair value valuation of the AIGFP super senior credit default swap portfolio. AIG also said is has not yet determined the amount of the increase in the cumulative decline in fair value of AIGFP's super senior credit default swap portfolio to be included in its December 31, 2007 financial statements. Today the stock is up over 1%.
NeuroMetrix (Nasdaq: NURO) fell 49% yesterday after Stanford Group downgrades the stock from Buy to Hold, citing doubts about the level of insurance reimbursement for its product. Today, the stock is down another 18% following Q4 results.
Brown & Brown (NYSE: BRO) fell nearly 16% yesterday following reporting a decline in Q4 profits. Net income was $0.23, down 12.3% from last year and well below the consensus of $0.40. Today, the stock is down another 1%.
Getty Images Inc. (NYSE: GYI) sunk over 9% yesterday after the New York Times reported that the auction of the company has stalled. According to the paper, while several private equity firms have expressed interest in the distributor of pictures and video, the company has not received any offers significantly above its current market cap.
Syntax-Brillian Corp. (Nasdaq: BRLC) was down over 14% yesterday after the company said they will need to delay the release of its second quarter earnings results due to issues related to accounting concerns. Specifically, the Company said it needs additional time to evaluate its accounting treatment related to its tooling deposits. Syntax has not yet set a date as to when its second quarter results will be released. Today the stock is down another 1%.
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