Today marks the best day of the year (not hard to do). Technically we finally got a daily reversal bar (outside day/higher close) amid heavy volume. Nice short covering rally in the afternoon.

Companies moving in after hours trading in reaction to earnings: Trading Up: FFIV +19.4%; NVEC +16.1%; TRMB +15.1%; SYMC +9.2%; PLXS +8.4%; PLCM +7.7%; QCOM +7.2%; WDC +4.9%; PRXL +3.5%; CAVM +3.5%; SANM +2.8%; PSSI +2.1%; AMCC +1.7%; QLGC +1.3%; WSTL +1.3%; NE +1.3%... Trading Down: MRCY -6.7%; EBAY -5.0%; PTV -4.9%; VARI -4.7%; CNS -4.4%; DGII -4.1%; KNX -4.1%; HXL -3.7%; RKT -3.4%; CTXS -3.2%; ISIL -3.1%; MOLX -3.1%; MTSC -2.9%; AVCT -2.5%; CHIC -2.4%; GILD -1.9%; SOV -1.8%; SRDX -1.7%; NFLX -1.1%... Companies moving in after hours trading in reaction to news: Trading Up: ADLR +36.2% (Co and GlaxoSmithKline confirm 'favorable' FDA advisory committee meeting for ENTEREG for the mgmt of postoperative Ileus in bowel resection); CVO +3.8% (reaffirms FY08 guidance); SHRP +2.6% (Co and EB Brands sign licensing agreement); ABK +1.4% (S&P puts 475 Ambac-related U.S. ABS rtgs on watch neg -- DJ)... Trading Down: SCA -9.8% (provides update on its capital plan); BCRX -9.3% (updates Peramivir clinical development plan); THQI -8.3% (raises Q3 revs guidance above consensus, sees EPS below consensus; lowers Q4 EPS and revs guidance below consensus); LINC -6.2% (clarifies impact of alternative lending arrangements, will have a minimal impact); HLYS -6.1% (receives deficiency letter from NASDAQ); ALCO -5.1% (announces CEO succession plan); WMAR -5.0% (In its 8-K, the co discloses that the SEC will continue under a formal order of investigation); FUR -3.3% (announces proposed shareholder rights offering); EXR -2.1% (sees FY08 FFO's above consensus); ANGO -1.7% (highlights results from preliminary study of Centros central venous catheter for hemodialysis); WGOV -1.4% (Gendron Named Woodward Chairman of the Board).