THE BULL & BEAR

[spencer_has_arrived]

After Hours Summary: WM down 9.0% (to raise $2.5 bln in additional capital, reduce dividend, resize home loans business and cut expenses to fortify capital base); TXN up 4.7% (narrows Q4 guidance to the upper end of previous range, in-line with consensus)

Companies moving in after hours trading in reaction to earnings: Trading Up: SAI +4.8%; DMND +1.6%... Trading Down: NCS -14.0%; IDT -1.0%... Companies moving in after hours trading in reaction to news: Trading Up: NFI +10.1% (notes in an 8-K that the co has entered into a Master Repurchase Agreements Waiver); WCG +4.8% (received an executed amendment number 2 to the current Medical Services Agreement; co also notes that Fairholme Capital reports a 16.1% stake in a SC 13G); TXN +4.7% (narrows Q4 guidance to the upper end of previous range, in-line with consensus); TLCV +4.2% (Highland Capital discloses 18.67% stake in SC 13D/A, up from 14.6% previously); LSCC +3.2% (Soros Fund Mgmt discloses 5.19% stake in SC 13G); PRGO +2.8% (announces final FDA approval of Dexcel's OTC Omeprazole; Raises full year earnings guidance); AEM +2.4% (increases annual cash dividend by 50% and provides updates in reserves and production); TRMS +2.3% (announces 2008 strategic plan; designed to maximize cash flows from FUZEON, while also advancing TRI-1144 to a value-creating milestone); WEN +1.2% (notes in an 8-K that the co sees FY07 EPS in-line with consensus)... Trading Down: MEDX -18.7% (Bristol-Myers and Medarex announces top-line data available from three ipilimumab pivotal trials in patients with advanced metastatic melanoma; the results did not meet the primary endpoint); WM -9.0% (to raise $2.5 bln in additional capital, reduce dividend, resize home loans business and cut expenses to fortify capital base); PLL -6.3% (files to delay in NT 10-Q; reports prelim Q1 revs above consensus); TMA -1.2% files Form S-3 announcing the offer and sale of 34,778,077 authorized but unissued shares of common stock).