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EQUITY LETTER

TUESDAY  JANUARY 6 2009

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10:00 Factory Orders (Nov.): -2.6% cons.

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Endo Pharma ENDP  to buy Indevus Pharma IDEV

After Hours Summary: MOS -2.0% on earnings

Companies trading lower in after higher in reaction to earnings
 MOS -2.0%... 
Companies trading higher in after hours in reaction to news
: IDEV +71% (Endo Pharmaceuticals to acquire Indevus for $4.50/share and up to an additional $3.00/share based on achievement of certain regulatory and sales milestones); AMR +1.6% (American Airlines reports December traffic); ELX +1.3% (sees Q2 revs of ~$107-$108 mln vs. $113.2 mln First Call Consensus; sees Q2 EPS of $0.20 vs. $0.21 First Call Consensus)...
Companies trading lower in after hours in reaction to news
: LDK -15.0% (lowers Q4 and '09 guidance); ESLR -3.9% (shipped 8.5 MW of products from its Devens factory during Q4); CCI -1.6% (reports that four of its executive officers forfeit restricted stock).

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