The Market May Be Down, But This Stock Is Up 26% Today

Stocks are lower Tuesday mid-session after a larger
than expected fall in existing home sales. The National Association
of Realtors said existing home sales fell 2.6% in July.

Sanderson Farms
(
SAFM |
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PowerRating) missed by 0.05. (full
story)

Williams Sonoma
(
WSM |
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PowerRating) beat by a penny and reaffirmed guidance. (read
the full story)

Pier One Imports
(
PIR |
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PowerRating) guided lower for Q2 and now sees a loss of
-0.12 – 0.14 vs. a -0.06 consensus. (full
story)

Strong sectors are:    Utilities

(
UTY |
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PowerRating)
+0.48%     Networking

(
NWX |
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PowerRating)
+0.22%         

Weak sectors are:   Chemicals 

(
CEX |
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PowerRating) -1.55%       Drugs 

(
DRG |
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PowerRating) -0.92%        

Amylin Pharmaceuticals
(
AMLN |
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PowerRating), Eli Lilly
(
LLY |
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PowerRating) and
Alkermes
(
ALKS |
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PowerRating) said a Phase II study of their Byetta diabetes
injection was favorable. Bear Stearns upgraded Amylin to outperform from market
perform. AMLN is up 26% in today’s trading.

Prudential upgraded Lucent
(
LU |
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PowerRating) to overweight from underweight.

CarMax
(
KMX |
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PowerRating) (news)
guided higher and now sees 0.37 in Q2.

Taser
(
TASR |
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PowerRating) is in focus after the Canadian Police Research
Center said the use of conducted energy devices (CEDs)–such as those
manufactured by Taser–are a substantial benefit to law enforcement and that no
causal relationship exists between the use of CEDs and death. (full
story)

Google
(
GOOG |
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PowerRating) will roll out instant messaging–including voice
chat–as early as Wednesday, the L.A. Times reports. (Read
what Dave Goodboy says about Google)

Brice Wightman