ARRY, IBM, NTRS, REED, KO, APH, PH, STT, SVU, ETN

The following are large and mid cap stocks that were in the news on Tuesday and might be in play for Wednesday.  My comments are indented with quotation marks.

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Last week, my alert for LMCO was up over 63%.  Try and do that with AAPL!

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Array BioPharma Inc. (NASDAQ: ARRY) is up 32.28% to $4.00. The company has announced a $467 million cancer drug deal with Novartis. (NASDAQ:ARRY), ($ARRY)

This is huge for ARRY and is a “game changer” for the company.  However, all is not roses for ARRY.  They still are posting major losses every quarter, have high debt and are burning cash at a very high rate.  The deal is contingent on several performance benchmarks and traders got a little giddy with the stock today.

ARRY might have a day or two more run in it, but watch for it to crack because the shorters will be all over this one.

International Business Machines Corp. (NYSE: IBM) is down 2.30% to $129.19. The company has reported a 2% drop in new services contracts. (NYSE:IBM), ($IBM)

Northern Trust Corp. (NASDAQ: NTRS) is down 5.79% to $54.99 followng news of lower quarterly earnings. (NASDAQ:NTRS), ($NTRS)

Reed’s Inc. (NASDAQ: REED) is up 49.70% to $2.53. The company is seeing at least 20% increase in 2010 revenue following on record Q4 result. (NASDAQ:REED), ($REED)

The Coca-Cola Company (NYSE: KO) is down 1.72% to $54.37. The company has posted Q1 profit of $1.61 billion, 20% higher than the year-ago period. (NYSE:KO), ($KO)

Amphenol Corp. (NYSE: APH) is up 6.16% to $46.73 on stronger-than-expected Q1 results. (NYSE:APH), ($APH)

Parker-Hannifin Corp. (NYSE: PH) is up 0.39% to $69.66. The company has upped its outlook for fiscal year after reporting that Q3 profits nearly tripled. (NYSE:PH), ($PH)

State Street Corp. (NYSE: STT) is down 4.97% to $44.90 despite better earnings in Q1. (NYSE:STT), ($STT)

Supervalu Inc. (NYSE: SVU) is down 2.92% to $16.64. The company has warned that yearly profit could miss analysts’ forecasts. (NYSE:SVU), ($SVU)

Eaton Corp. (NYSE: ETN) is down 0.47% to $78.78. The company has announced a profit of $155 million in the Q1. (NYSE:ETN), ($ETN)

$ARRY, $IBM, $NTRS, $REED, $KO, $APH, $PH, $STT, $SVU, $ETN

Good luck and good trading

Jeffrey Dean

Editor

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