Fuqi International, Inc. (NASDAQ: FUQI) is down more than 10% premarket to $3.02, relative to a 52-week range of $3.16-$12.42. The company is in the midst of having its 2009 financial statements audited.

JA Solar Holdings Co., Ltd. (NASDAQ: JASO) is up 2.3% premarket to $6.67, relative to a 52-week range of $4.22-$10.24.

NVIDIA Corporation (NASDAQ: NVDA) is up 2.5% premarket to $19.08, relative to a 52-week range of $8.65-$26.17. JMP securities upgraded the graphics company to “outperform.”

McDonald’s Corporation (NYSE: MCD) may have been close to a 52-week and all-time high before, but its August global comparable sales were up 4.9% and that was up 4.6% in the U.S.  That isn’t good enough unfortunately and shares are trading down 2% at $74.55 on more than 500,000 shares.

ARM Holdings plc (NASDAQ: ARMH) shares are up over 4% at $18.90 on over 500,000 shares after it unveiled a new Cortex-A15 MPCore Processor.

Geron Corporation (NASDAQ: GERN) is surging on two issues.  There were reports that the DOJ is trying to break a stem cell ban from recent weeks and then there are three upcoming investor events where it plans to present positive stem cell research data.  Shares are trading up 7.3% at $5.29 this morning ahead of three

Fuqi International, Inc. (NASDAQ: FUQI) is down sharply after an SEC probe.  Shares are down 23% at $4.87 on over 150,000 shares.

Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) hit a delay in its pending FDA approval that we were expecting by Friday.  Shares were down by almost 10% after the halt last night but that level improved as the news was digested.  Shares ar now down only by 3.6% at $10.00.

Brocade Communications Systems, Inc. (NASDAQ: BRCD) is up 3% at $6.05 this morning on continued Dell-HP-3PAR action, but yesterday snapped a seven day rally streak in the stock.

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JON C. OGG

A123 Systems, Inc. (NASDAQ: AONE) reported a wider first quarter loss and revenue wqas $24.5 million versus Thomson Reuters $26.4+ million estimates.  A123 closed at $10.16 on the day, but shares are down 5% at $9.65 on over 100,000 shares since the 4:00 PM close.  This traded almost 3 million shares in regular trading and shares closed up 4.7% at $10.16 in regular trading.

Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) was halted and shares are now higher after releasing additional preliminary data on a Phase 1b ACH-1625 trial in hepatitis C treatments.  Shares closed at $2.36 and are up 16.5% at $2.75 on over 181,000 shares since the close.

China Wind Systems, Inc. (NASDAQ: CWS) is up on light volume after guidance: 2010 revenues of $76.5 to $85 million (43% to 59% increase); EBITDA $22.7 to $25.2 million (106% to 129% increase); Adjusted net income $15.5 to $16.3 million (99% to 109% gain).  Shares closed at $3.77 and shares are up 15% at $4.34 on only 6,585 shares in the after-hours session.

Electronic Arts Inc. (NASDAQ: ERTS) said revenue rose 14% to $979 million; earnings of $0.09 EPS beat Thomson Reuters figure of $0.05.  The problem is guidance: a loss at -$0.35 to -$0.40 EPS and revenue of $460 to $500 million; Thomson Reuters had -$0.33 EPS $516.8M.  Shares closed at $18.80 and shares are down over 3% at $18.20 on over 1.5 million shares in after-hours trading.

Fuqi International, Inc. (NASDAQ: FUQI) is lower after filing an NT-10Q, a non-timely quarterly report.  Shares closed at $9.64 and shares were down 5.3% at $9.13 on 16,000 shares.  Whether shares are still lower in the morning is another issue, but this was up 7% in regular trading today.

Metabolix, Inc. (NASDAQ: MBLX) rose after the close when it and ADM announced that Telles received FDA clearance for the formulated products Mirel™ F1005 and F1006, food contact injection molding grades for use in food contact applications.     Shares closed at $12.8, and the stock was up 10% at $14.10 on over 14,000 shares since the market close.  Its 52-week range is $6.20 – $14.98.

Netlist, Inc. (NASDAQ: NLST) rose ahead of earnings and rose after earnings. Revenues in the quarter were up 265% from a year ago at $7.9 million; sequentially revenues rose 17.8%.  Gross profit was $1.8 million.  Shares closed up 9.5% today at $2.65 and shares are up another 12% at $2.97 on over 300,000 shares since the close.  Due to the cult status, tomorrow could be very active.

SunPower Corporation (NASDAQ: SPWRA) closed at $15.29 today before earnings.  Its Q1 revenue was $347 million, non-GAAP gross margin was 22.5%, and Q1 GAAP EPS $0.13 and non-GAAP EPS $0.05.  Shares are trading down 4.2% at $14.65 on over 200,000 shares since the 4PM close.

The Walt Disney Company (NYSE: DIS) closed up 1.3% at $35.76 in regular trading today before earnings.  The Mouse-House had a 55% earnings jump after almost $1 billion in “Alice in Wonderland” sales.  The problem was media-networks with flat and there is the notion that shares were already elevated.  In the after-hours session, Disney shares are down 3.2% at $34.60 on over 1 million shares since the 4PM close.

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JON C. OGG

This came on the same day that Movado Group Inc. (NYSE: MOV) was hit on a poor outlook and it also seemed to at least have some after-hours impact on LJ International Inc. (NASDAQ: JADE).  Too bad that Zale Corporation (NYSE: ZLC) didn’t help lift any of these companies as its stock continued to recover with big additional gains yesterday.

The company noted that an internal investigation showed the cost of sales had been artificially low in the first three quarters last year.  That means that its profits and its net income for the three quarters were artificially higher as well.  The problem is that the accounting errors were not clarified, and to boot the company had to delay its annual report filing.

Even the Chinese are buying cheaper products, it is up to you if you want to believe the CEO comments that some customers were delaying orders for the Chinese New Year.  It seems like the delays and slowdown in China is much more than a brief period.  Lower margins were brought on by lower-priced and less profitable products, go figure.

Fuqi shares were down almost 30% last night to under $14.00 versus an already volatile 52-week trading range of $3.65 to $32.68 and versus a $19.00 closing price Tuesday.  Its market cap before factoring in the drop in value on Wednesday was about $524 million.

Bank of America Corp. (NYSE: BAC) is defying headlines with a 2% gain.

Canadian Solar Inc. (NASDAQ: CSIQ) is soaring over 20% on strong earnings and guidance.

Cisco Systems inc. (NASDAQ: CSCO) is holding up better than we’d have expected with a mere drop of 1% after earnings guidance was lackluster.

FUQI International Inc. (NASDAQ: FUQI) is showing why this was the IBD 100 #1 Chart this last weekend.  New highs are being hit.

IncrediMail Ltd. (NASDAQ: MAIL) is hitting 52-week highs after showing growth in earnings and revenues.

Oshkosh Corporation (NYSE: OSK) is down another 5% at $28.85 on thin volume we expect to grow after it announced a secondary offering last night.

The 24/7 Wall Street Team

We have compiled detailed reviews here for those charts and what to look for in the coming week and beyond.

We saw late-morning Friday that Tyson Foods Inc. (NYSE: TSN) had very unusual call option trading activity ahead of the closing bell.  But the options volume we noted came to only half of what really traded and there were some 22,127 sold of the AUG $12.50 CALLS.  There was also continued interest in the SEPT $12.50 CALLS with what ended being 5,915 contracts.  The prior open interest was only 1,075 of the AUG $12.50 Calls and only 169 in the SEPT $12.50 Calls.  We normally might not care, but with earnings out momentarily it was hard to not notice.  The 2% gain on Friday is probably not very important, but the trading volume of 8.9 million shares is almost twice normal volume in shares per day.  Great catch for us by Joe Kunkle at OptionsHawk.com.

Lastly, there is one more tech giant you will have to put on your screens for his coming week.  Cisco Systems, Inc. (NASDAQ: CSCO) has earnings on Wednesday, August 5.  This stock is at a key juncture right now.  Since early July, this one has run from $18.00 up to $22.00.  Its chart is looking very toppy here.  If you look at our affiliate’s chart from INO.com, you can see that the current share price has a lot of overhang from going back a year where the selling waves came on.  Also on that same chart you might even determine that CSCO stock has been strong enough that it could fall 8% or more this coming week and still have no real damage done to its longer-term chart.  Stay tuned for a more detailed earnings preview this week… The estimates from Thomson Reuters are sure to change, but those are $0.28 EPS and $8.51 billion in revenues.  That would compare to $0.25 EPS and $8.162 billion in revenues in the prior sequential quarter and $0.39 EPS and $10.364 billion in revenues from the year-ago quarter.

Genzyme Corporation (Nasdaq: GENZ) is at a risk of hitting new 52-week lows.  This is on the heels of an FDA re-inspection after notification that all promised actions had not been either fully or adequately implemented at the time of the May inspection.  Full details and analysis are available at BioHealthInvestor.com.  Genzyme closed down almost 8% at $51.89, while the 52-week trading range is $50.05 to $83.97.  Guess where the unusual options activity came in? The August Puts, particularly the AUG $50 PUTS, where more than its entire open interest traded.

What happens when biotech companies start to run out of cash or when their burn rates are too high?  Ask Ariad Pharmaceuticals Inc. (Nasdaq: ARIA)… We pointed out its huge gap up earlier in the week on news, but noted how the company needs cash and needs it soon.  Shares were north of $3.00 on that alert.  A 17% drop on Friday and a few days of selling the gains before that took this one to under $2.00.  We’d be on the look out for a capital raise soon.

VirnetX Holding Corporation (NYSE Amex: VHC) is one of those companies most have never heard of.  That may no longer be the case, particular for investors who tread where others fear… patent and copyright law.  The company announced that the United States District Court for the Eastern District of Texas, Tyler Division, issued its patent claim construction, or “Markman” Order, in the ongoing patent infringement action… That patent action is between it and a small little software company named Microsoft Corporation (NASDAQ: MSFT) .  It said, “In the recently issued Markman Order, the Court adopted interpretations that VirnetX believes are favorable to VirnetX on many of the claim terms that were in dispute in the litigation.”  The volume was nuts on this one and 3.78 million shares traded with a close of $3.00 on a 102% gain.  Believe it or not, this hit $5.00 during the peak of trading before coming back to earth.  We will not endorse the company nor the news, but we’d urge you active traders to put this one on your watch list.  This company just got itself on the map and it is safe to assume that the volume will be high here compared to its old 37,000 average daily volume.

Exxon Mobil Corp. (NYSE: XOM) was the biggest disappointment for the major integrated oil stocks this week.  Its earnings miss was poor and its metrics were all south.  Sure, that happens when its key product, black gold, is down by more than half from year ago averages.  But now Exxon Mobil has a new problem that might make traders take a pause here.  This stock has caused major technical damage to its stock chart after a four-consecutive daily drop in share price to end the week at $70.39.  The key 50-day moving average is just at $70.15, only $0.24 lower than Friday’s close.  If this stock does not hold or if oil decides to roll over in the first week of August, then you can easily see on the stockcharts.com chart that another 2% to 4% downside could be in Exxon’s very near future.

USEC Inc. (NYSE: USU) is going to be a key stock to watch this coming week.  You probably know about its fiasco with the DOE not approving its loan guarantee.  The company wants a revisit on the issue, but we gave it some suggestions in a piece on how to add public and private pressure to score more momentum.  Why you care about this one next week is because the nuclear centrifuge company reported earnings at the unusual time of after the close on Friday.  It also withdrew its annual guidance.  If you look at the long-term chart it does have some support within about 10% lower of its price, but if you look at the chart from our affiliate INO.com then you will see how much damage has been done here.  From here on out, USEC’s stock may trade in some very strange patterns until this issue is resolved.

Publications will also have you watching two key stocks this coming week.  Barron’s decided to cover eBay Inc. (NASDAQ: EBAY) as its cover story.  Despite the 100% rally from lows, Barron’s has the notion that eBay is becoming like Amazon.com, except more profitable and with units like PayPal and Skype being bonuses.  A look at the chart from INO.com here also shows that this stock is very toppy at this point having risen from $16 to almost $22 in July alone.  This might be enough for a 4% to 5% pop in early Monday trading, but this has risen sharply already in July and is up over 100% from the lows.

Lastly, we are told that Fuqi International Inc. (NASDAQ: FUQI) came in as the top spot on the IBD 100 over the weekend.  If you look at the INO.com chart, you’ll see this one has gone parabolic from roughly $3 to $25 of late.  It is also up again even after a recent share sale in a secondary offering.  This company is a designer and producer and seller of high quality precious metal jewelry in China.  Sorry, but widows and orphans might not want to risky their money on this one.

JON C. OGG
AUGUST 1, 2009

Revenue for the third quarter of 2008 increased 159% to $93.7 millionfrom $36.2 million in the third quarter of 2007, due to increases insales volumes and selling prices in the wholesale business.

For the full year 2008,  Fuqi raised its revenue guidance, netincome and diluted earnings per share estimates. It now expectsrevenue of approximately $345 million to $350 million. Fuqi said the largeChinese government stimulus package would help bolster future results. 

While the economy in the world’s most populated country may be slowing,the middle and upper classes should not suffer a great deal if the $600billion in rescue funds are used wisely. One of the centralgovernment’s primary goals it to make sure that consumer spendingwithin China’s borders continues to be strong.

At $6.62, Fugi still only trades at about 60% of its 52-week high of $11.95. That does not make sense.  Its market cap is listed as roughly $140 million.

It may well have much further to run.

Douglas A McIntyre
November 17, 2008