2. Myriad Genetics
By Adam Feuerstein
8:54 a.m. EDT Myriad Genetics (MYGN Quote), the maker of genetic diagnostic tests, including one for breast cancer, came up a $2 million to $3 million short on revenue expectations last night. The stock is getting hit fairly hard this morning. MYGN has been a highflying growth stock since last year (the chart is a marvel), but as we've seen with other high P/E stocks like Celgene (CELG Quote), the crash comes when the company can't keep up with the ever-increasing demands for growth, growth and more growth. The cause for this quarter's revenue shortfall seems to be in dispute, with bulls saying it was a subpar February with March revenue back to record-setting ways. Bears say the growth of MYGN's genetic testing business may be hitting the wall, hurt in part by -- yes, you guessed right -- the recession. No positions
3. Springtime for Agricultural Sector
By Alan Farley
9:01 a.m. EDT Agricultural stocks are finally heating up after lagging the broad market for many months. This follows the quickening pace of the raw materials rally, which is lifting all sorts of energy, industrial and metals companies. Potash (POT Quote) is a top performer here. I'd like to see price settle back to the three-month trend line in the upper $80s and use that level as a base for a rally up and over $100. You can find more technical comments on the stock and an annotated chart here. No positions
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