Pre Market Recap - Stocks to watch

02-08-11 Morning Update - Notable Upgrades/Downgrades - AM News

CNXT has two bidders for it now, private equity topped

SMSC dropped from 30 to 25 when they announced they were buying CNXT, so the chance for them to get out of the deal was being viewed as good last night and stock traded up a bit (SMSC)

MCD up on same store sales #'s

Cramer hyped HAIN and LULU last night

KND up on earnings this AM

Upgrades/Downgrades of significance – Tim’s Ticker Stocks

Newfield Exploration (NFX 73.04)

downgraded to Hold from Buy at Jefferies; tgt $70

MGM Resorts upgraded to Buy from Neutral at

BofA/Merrill. Price target 21(Intresting daily, nice 50 day trend – guarding recent daily highsthis week at 17)

Apogee Enterprises Raised To Buy From Hold By Canaccord

Genuity >APOG (Another intresting Daily. Research call from a second tier firm – guarding recent daily highs of 14.45)

Carlisle (CSL 42.47) upgraded to Buy from Neutral at

SunTrust; tgt (Had earnings last night. Breaking out on its daily to July 2008 highs)

Shaw Group (SHAW 39.08) upgraded to Buy from Neutral at

UBS (another daily breakout)

SanDisk Raised To Buy From Neutral By Sterne Agee >SNDK

Tradable Earnings Stocks of note:

BZH - Beazer Homes Swings to Q1 Loss That's Deeper Than Street View

Feb 8 at 07:09

Profile hits: NONE

      07:09 AM Eastern Standard Time, 02/08/2011 (MidnightTrader) -- Beazer

Homes USA (BZH) reports a Q1 loss of $0.66 per share compared to income of

$1.17 a year earlier and deeper than the Thomson Reuters mean analyst estimate

for a loss of $0.46.

      Revenue fell 48% to $110.3 million. The Street looked for $164.3

million. (Only down -.10c in the pre market on a pretty big miss)

AVP Avon Reports Lower Profit That Misses Street View - Shares

off 4% in First Pre-Market Matches

Feb 8 at 07:20

Profile hits: NONE

      07:20 AM Eastern Standard Time, 02/08/2011 (MidnightTrader) -- Avon

Products (AVP) reports Q4 adjusted EPS of $0.59 compared to $0.68 a year

earlier and below the consensus Street analyst estimate for $0.66.

      Sales improved slightly, to $3.14 billion compared to $3.10 billion.

      Price: 28.15, Change: -1.20, Percent Change: -4.1

(Daily is breaking down in the pre market with good liquidity)

VECO had earnings last night, warned, over 4 points off last light night's lows.  possible contra

FMC had bad earnings last night

Events of note:

Events08:45 Fed's Lacker to speak. 13:00 Fed's Lockhart to speak. 13:30 Fed's Fisher to speak.
(this could make for a choppy sideways lite volume market at times – guarding for comments)

OCLS up on FDA 510k clearance