Stocks to Watch Tomorrow 12/20

Northfield Laboratories Inc. (Nasdaq: NFLD) was crunched 20% today ahead of an update on the Phase III clinical trial of PolyHeme, its controversial red blood cell substitute. After the close the company said because of discrepancies in the initial data, the database will be unlocked and corrected prior to finalizing the statistical analyses. The company said preliminary results indicate that in the primary modified intent to treat (MITT) population (those who were randomized and received some treatment) the upper limit of the CI exceeded the 7% threshold by 0.3%. However, in the pre-specified per protocol (PP) population (those who both received the correct treatment and did not otherwise violate the protocol), the upper limit of the CI was below the threshold, at 5.8%. We're not sure where this one lands but it will be fun watching tomorrow.

FedEx (NYSE: FDX) is reporting earnings before the open Wednesday. Guidance will be key here, not only for the company but as a gauge for the rest of the economy.

Nike (NYSE: NKE) is reporting after the close Wednesday. Short of a major surprise, the needle will unlikely move much. But again, comments on its outlook could be seen as a gauge for the rest of the economy.

Escala Group Inc. (Nasdaq: ESCL) jumped 92% Tuesday on huge volume after the company said they will restate prior results and basically said they are not crooks. The move was likely partially related to a short squeeze. This company has a lot to do before it can re-gain respect on Wall Street, but traders may try to keep pressing the shorts here.

Syntroleum Corporation (NASDAQ: SYNM) gained 46% today after announcing a Joint Development Agreement with Kuwait Foreign Petroleum Exploration Company, K.S.C. to join in the development of a 50,000 barrel per day Gas-to-Liquids facility in Papua New Guinea. This one seems to be back on the radar, but after the big run we may see some profit taking before moving higher.

Palm, Inc. (Nasdaq: PALM) met/beat their lowered Q2 results, but guidance was disappointing. Weakness at Palm was pretty well-telegraphed. It's time for the company to put the For Sale sign up.

Today's IPO with the least fanfare, Fuwei Films Co., Ltd. (NASDAQ: FFHL), rose 34%. The one with the most, Melco PBL Entertainment (Macau) Limited (Nasdaq: MPEL), rose 13.4%

Tomorrow's proposed IPOs are Solarfun Power Holdings (Nasdaq: SOLF), Dayton Superior Corporation (Nasdaq: DSUP) and Artes Medical (Nasdaq: ARTE).

Look for upcoming bottom fishing in Circuit City Stores Inc. (NYSE: CC) after today's 16.5% haircut after a terrible quarter and guidance.