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CRONKITE

Besides The Market Here is What ‘s Gapping Down

In reaction to disappointing earnings/guidance: UEC -20.9%, CRZO -15.3%, BWS -14.9%, AOB -11.1% (also downgraded to Hold at Brean Murray), ZAGG -8.8%, ATPG -6.4%, DOLE -5.7%, CEL -3.2%.

Japan names under significant pressure with ongoing crisis following earthquake: SNE -6.7%, TM -6.6%, HMC -6.5%, CAJ -6.2%, HIT -4.2%.

Nuclear power related names trading lower for second consecutive day: SHAW -9.1%, BWC -3.8%, FLR -1.7%.

Select uranium related names showing continued weakness: DNN -21.6%, URZ -18.8%, CCJ -17.2%, URRE -17.1%.

Select financial related names showing weakness: AIG -9.3%, DB -6.7%, FITB -5.0%, COF -4.8%, KEY -4.7%, RDN -4.5%, UBS -4.3%, STI -3.7%, PMI -3.6%, RF -3.5%, USB -3.2%.

Select metals/mining stocks trading lower:  CXZ -17.3%, EXK -15.1%, GPL -13.1%, PZG -11.3%, SVM -10.1%, PAL -9.8%, NG -9.7%, CDY -9.5%, SWC -8.7%, SLW -8.6%, PAAS -8.1%, NGD -8.1%, EGO -6.7%, HL -6.7%, ABX -4.7%.

A few rare earth names are also trading lower: SHZ -11.4%, AVL -10.4%, MCP -8.2%, REE -7.3%, GSM -4.2%.

Select oil/gas related names showing early weakness: CFW -12.8%, CPE -12.6%, HDY -9.7%, LNG -9.4%, KOG -7.6%, NOG -7.5%, ROYL -6.6%, BEXP -6.4%, RIG -6.2%, IVAN -6.2%.

Other news: SBAY -29.1% (discloses that James T. Crane, CFO, announced that he will resign from the Company to pursue other professional interests, effective 3/14), CIGX -10.9% (modestly pulling back),  AFL -6.8% (continued weakness on Japan concerns), UTA -6.6% (still checking for anything specific), RLOG -5.8% (files to sell $25 mln in common stock; files to sell 2,279,255 shares of common stock for shareholders ), SNBC -5.2% (announces commencement of public offering of ~$75 mln in common stock), WX -5% (hearing related to pricing), SD -4.7% (provides results for its cash tender offer and related consent solicitation for its 8.625% Senior Notes due 2015), FGP -3.2% (prices an offering of 4.4 mln common units representing limited partner interests at a public offering price of $26.27 per unit ), DELL -3.1% (filed for a $2 bln debt securities shelf offering), HPQ -2.7% (announces new dividend goals, increases regular quarterly dividend by 50% to $0.12 ), ILMN -0.4% (to Offer $800 Million Convertible Senior Notes ).

Analyst comments:  AJG -6% (downgraded to Neutral from Buy at Janney Capital), FSIN -4.4% (downgraded to Hold from Buy at Jefferies), INTC -2.6% (downgraded to Neutral from Buy at Nomura), AMSC -2.5% (downgraded to Hold from Buy at Needham), OXY -2% (removed from Conviction Buy List at Goldman)

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Microsoft Said to Be Phasing Out the Zune

iPad/Pod folks ask what is a Zune ? Apparently demand is falling and MSFT will stop making new versions while trying to transfer the software licenses to other products…

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