Stocks to Watch Tomorrow 01/05
Microvision Inc. (Nasdaq: MVIS) ramped 21.8% higher today on heavy volume after announcing they will unveil their ultra-thin, miniature full-color projection display for mobile devices at the upcoming Consumer Electronics Show in Las Vegas, January 7 - 11. Some bloggers have been hot on the stock recently, including Broker A and Trading Goddess. Also, MDB Capital recently started coverage on the stock with a Buy rating and $6 price target. NICE CALLS! Shorties in the name are feeling the pain today. The company still has a lot to prove, but it looks like a good one to add to the radar if you're not watching it already.
There was some crap circulating today that some big Google (Nasdaq: GOOG) advertisers were leaving because costs were too high. What did the stock do? Up nearly $16 points. I often question whether the Google-machine can keep going, but in reality the company has barley scratched the surface as far as monetizing their properties. The company is just starting to hit their stride. Where is the stock headed? I would say $600 is not unreasonable in the current market environment, but if the winds change so could GOOG fortunes.
A lot of retailers received beat downs today after disappointing monthly comps: Hot Topic Inc. (Nasdaq: HOTT) -17%, Bebe Stores, Inc. (Nasdaq: BEBE) -9%, Limited Brands Inc. (NYSE: LTD) -7.5%, Cache Inc. (Nasdaq: CACH) -11.7%. Gap (NYSE: GPS) managed to squeak out a gain despite horrible results. They pretty much admitted they suck and will revamp the Gap and Old Navy brands. This company needs to be sold to the highest bidder ASAP.
Constellation Brands Inc. (NYSE: STZ) was slammed 11.4% after earnings and outlook. Too much? Too fast? The company said cheap Australian wine is killing them in the UK.