Daily Market Recap

In Play

Rock of Ages received unsolicited $4.38/share in cash propsal from Swenson Granite Company

Co received an unsolicited proposal to purchase all outstanding shares of common stock for $4.38/share from Swenson Granite Company. The acquisition is conditioned on lender due diligence, negotiation of a definitive structure and terms and Swenson obtaining financing. The proposal also states that Swenson seeks to structure the transaction so that the value of ROAC assets can be "stepped up" to fair market value (can be no assurance as to whether can be achieved). ROAC Board of Directors cautions that an inability to achieve such a step-up could result in a reduction of Swenson's proposed $4.38 per share price. Co will retain financial advisors and legal counsel, evaluate the proposal.

Late day global & sector ETF movers- VIX volatility measurements lead & Biotechnology lags in late trading

The Actively Traded Leading Global & Sector ETFs:
VIX vol index- VXX +13.0%, VXZ +7.50%, silver- SLV +4.0%, nat gas- UNG +2.25%, copper- JJC +1.75%, ag/chem- MOO +1.25%, iShares Taiwan- EWT +1.25%, platinum- PGM +0.50%, PTM +1.0%, livestock commods- COW +1.0%, base metals- DBB +1.0%, iShares Singapore- EWS +0.75%, Euro currency shares- FXE +0.75%

The Actively Traded Lagging Global & Sector ETFs:
biotech- IBB -4.50%, XBI -4.25%, oil HLDRS- OIH -4.25%, homebuilders & home construction- ITB -4.0%, XHB -3.50%, SPDRS oil & gas exploration/production/services- XOP -3.50%, XES -3.75%, Russia- RSX -4.50%, ISE REVERE nat gas index- FCG -3.0%, RUT 2000 small caps- IWM -2.75%, aerospace & defense- PPA -2.75%

Earnings Preview for the week of May 10th-14th

Of the hundreds of companies reporting earnings the week of May 10th-14th some of the bigger names include: Monday: CFSG, CPBY, DF, DISH, SATS, SSP, TSN, HOGS, BIDZ, FLR, GCOM, LDK, PCLN, and TWTC... Tuesday: JASO, NICE, STV, ERTS, RICK, and DIS...Wednesday: CEU, DGW, M, CSCO, DRYS, JACK, and WFMI... Thursday: AMSC, KSS, CGA, TK, URBN, BBI, JWN, and NVDA... Friday: JCP.

Lifeway Foods announces new 200,000 share buyback program

Gen Growth Prop: Simon Properties withdraws acquisition and recapitalization proposals for General Growth Properties

Co announces it withrew its offer for General Growth due to GGPs intention to move forward with Brookfield Asset Management.

NASDAQ 100 (NDX) strength & weakness moving into the final hour of trading- Semi name leads in late day trading

NDX 10 Best % Performers:
MXIM, DTV, GRMN, ADP, ATVI, CERN, MYL, ADBE, MRVL, STX

NDX 10 Worst % Performers:
WCRX, LINTA, SNDK, VRSN, FWLT, NIHD, SYMC, EXPE, AAPL, NTAP

NASDAQ A/D @ +1450
NASDAQ TRIN @ +2.10

Dow 30 (INDU) strength & weakness moving into the final hour of trading- Staple name continues to lead in late day trading

INDU 5 Best % Performers:
KFT, AA, VZ, KO, CVX

INDU 5 Worst % Performers:
AXP, HPQ, MSFT, GE, CSCO

NYSE A/D @ -1350
NYSE TRIN @ +2.35