Stocks in Play

Inovio Biomed (Amex:INO)  announced this morning pre market of a  $30m  registered direct offering (INO) 3.18 : Co announces that it has institutional investors to purchase $30 mln of securities in a registered direct offering. INO expects to receive net proceeds of approximately $28.5 mln.

Shares were on fire yesterday up 300%.  What about today?  Pre market is trading at 2.80

Earnings on CTXS

Citrix Systems (CTXS) reports Q2 earnings after the market close on Wednesday, July 22, Citrix Systems to announce strong Q2 results,or above current expectations, and to maintain its FY09 guidance.

The core business held up reasonably well in the quarter, with William Blair estimated XenApp license revenues of $88M. The firm’s checks continue to indicate strong customer interest in desktop and client side virtualization, and it believes the company is well positioned to capitalize on this trend in the long term. However, despite its confidence that Citrix is likely to maintain full-year guidance

Wells Fargo (NYSE:WFC) is expected to report Q2 earnings before the market open on Wednesday, July. Analysts are looking for EPS of .34 on revenue of $18.95B. The consensus range for EPS is 0c to 50c, while the consensus range for revenue is $18.95B to $21.71B, according to First Call. A Sterne Agee analyst, reporting that he heard Wells had sold $600M of non-performing subprime loans for 35c on the dollar, recently predicted that Wells would have to raise more money through the equity markets. Last month S&P lowered the ratings of Wells and 21 other banks as the ratings agency predicts that operating conditions for the banking industry will become less favorable than in the past. June that Wells could report strong Q2 results. The firm said that Q2 estimates appeared to be low. The Citigroup analyst expected Wells to provide bullish guidance, although it maintained a Hold rating on the stock based on valuation. Also, the Q2 EPS of Wells peers JP Morgan (JPM), Bank of America (BAC) Goldman Sachs (GS), and Citigroup (C), beat expectations. JP Morgan and Citigroup said they saw improvements in the performance of the financial markets, while Goldman and Citigroup both said that the trading environment was favorable. Bank of America reported that it felt less constrained by macro economic factors. On the other hand, some analysts have been unenthusiastic about both banks’ fundamentals, and their stocks have fallen in recent days. (the Fly)

ECB Bancorp (Nasdaq:ECBC) reports Q2 EPS 19c vs.

More Action QLGC

QLogic (QLGC)  to report Q1 earnings after the market close on Tuesday, July 21, with a conference call scheduled for 5:00 pm ET

NRG Energy on the move (NRG) $24.30 last

Misonix (MSON)  awarded  for forensic equipment in ChinaMisonix announced receipt of its first award for forensic equipment in China from the company’s distributor CSI Technology/CStrace International.

Equipment will be used by  Chinese Law Enforcement in a major city in China. This award came from a competitive bid which focused on quality and performance.

Mid Day report

DuPont: Earnings release NYSE:DD

There is a bottom “W” pattern in progress on the daily chart.   Look for DD to trade up to the $29 area, Better than expected .

Advance Micro upgraded to outperform NYSE:AMD

Stocks continue to rally into monday mid day. Stocks continued last week’s rally. All 3 of  indices into green territory up 5%
Crude oil prices are up 0.5% and gold is basically flat.

Citigroup  NYSE:C  options active  call option volume of 534,676 contracts compares to put volume of 414,924 contracts. C August 3 straddle at 59c, September 3 straddle at 74c. C over all option implied volatility of 52 is

July 20 stocks on the move pre market

NYSE:CIT shares spiked 90% in pre open trade as investors breathed a sigh of relief that bankruptcy appeared off the table for the time being.

CIT is said to be paying 10.5% for the funds, which should enable the troubled small- and medium-sized business lender to meet obligations on about $1 billion in debt coming due in August, the Wall Street journal reported on Monday.

GR:NYSE Goodrich signs long-term agreement with Alp Aviation for F-35 Lightning II landing gear components and assemblies. The agreement covers deliveries.

Cisco: Upgrade  breakout shares were upgraded to Outperform at Credit Suisse, with a $25 price target. Friday shares broke out  and now are up 2.1% in the pre-market.  high at the
$20.35 area, which now becomes support. Resistance levels to watch as potential upside objectives are at $21.18,  $22.48.

Citigroup upgraded Allergan to Buy from Hold to reflect increased estimates for Botox and its belief Latisse guidance looks conservative. The firm raised its target on shares to $57 from $45.

Jefferies upgraded Texas Instruments to Hold from Underperform after channel checks indicated business is strengthening. Jefferies believes Texas Instruments’ September quarter guidance will come in better than expected and raised its target on shares to 23 from $16.

Futures Headed Lower in Pre Market July 17,2009

Stock futures are heading lower Friday to finish a strong weak.  Key earnings from Bank of America, IBM and General Electric are dragging the futures  down in premarket trading

Futures on the DJ Industrial Average droped 36 points to 8633, S&P 500 futures fell 5.50 points to 930.20, and the Nasdaq 100 is up 3 points to 1515.80.

Eearnings schedule led by Bank of America Corp. (NYSE:BAC), which reported a missed its forecast

Citigroup Inc. (NY:SEC) reported 2nd  quarter revenue of $29.97 billion and a profit of 49 cents on a gain from the sale of Smith Barney.

Bank of America fell 2% while Citigroup rose 1% in pre-market action.

“It’s another important earnings day today and it’s still not even the peak fortnight period which starts on Monday,” said Jim Reid, analyst at Deutsche Bank AG (DB) in a note to investors.

Away from financials, General Electric Co. (NYSE:GE) reported a 47% drop in quarterly profit, still beating forecasts, but missing estimates on revenue. GE slipped 4%.

Mattel Inc. (NYSE:MAT) climbed 3.7% after topping analyst forecasts.

Other stocks expected to be in focus include Google Inc. (Nasdaq:GOOG), which reported late Thursday and topped forecasts with its second-quarter profit rise, owing to tight cost controls. However, its numbers also reflected meager revenue growth due to the overall fall in spending on online advertising.

Shares of Google were down 3% in pre-open trading.

(NYSE:IBM) rose 1.6% after it reported a second-quarter profit that rose 12% from a year ago, as higher gross margins for the technology giant’s software and services offerings helped offset sales declines across the company’s business.

“IBM posted strong second quarter EPS despite weak revenues. As the third-largest software company in the world, we believe IBM’s results for its software business can offer some insight into the entire software segment, and in this case, are a positive indication for the aggregate enterprise infrastructure software sector,”