A Deluge Of M&A Announcements

Good morning. We begin Thanksgiving holiday week with a deluge of M&A announcements while premarket futures have a slight negative bias due to weakness in overseas markets. This week we have only three full trading sessions as U.S. markets are closed Thursday for the Thanksgiving holiday and will close at 1:PM on Friday.

Amid this morning's movers, stocks up significantly in premarket trading are PD, CTRX, PCYC, CYBX, ACOR, MNT, SOMX, EFUT, SONS, SCHW, NDAQ, CCE, MIKR, PAAS, BCRX, CUP, AMTD, QLGC, ZVUE, and UBET. Significant premarket losers are PACT, WYNN, RMBS, HANS, NOVL, LMRA, TASR, EHTH, OTIV, and DASTY.

Treasury Secretary Hank Paulson and Dallas Fed President Richard Fisher will be giving speeches and we have the leading indicators report due at 10:AM. While some of the weakness in the premarket futures is being blamed on overbought conditions, it may be providing us with a false tell. While we may very well see some profit-taking/consolidation before the Wall Street pros head to the Hamptons, the bulls remain very much in charge. Weakness early in Thanksgiving week tends to set up for an attractive long trade for those of us trying to grind out a some profits over the next few days.

Good luck and good trading!