Shares of Sequenom (SQNM) are in danger of breaching key technical support as traders pan the company's first-quarter earnings report. Thursday, SQNM confessed to a loss of 27 cents per share, right in line with analysts' expectations. Revenue arrived at $10.6 million, outpacing consensus forecasts for $10.2 million. So, why did the stock slip more than 12% lower in morning trading?

Traders are likely eyeing two unsavory data points in Sequenom's report. Gross margin dropped year-over-year from 60.6% to 50.5%, while research and development (R&D) expenses jumped from $8.8 million to $11.2 million on an annual basis. Additionally, Sequenom predicted that it won't be ready to file for a premarket approval on its noninvasive T21 test until the end of 2012.

The day's most popular strike is the February 45 call, with more than 2,200 contracts changing hands on open interest of 4,177 contracts. Several sizable blocks have changed hands at the ask price, suggesting that traders are buying new calls at this out-of-the-money strike today.

Humble restaurant chain Buffalo Wild Wings (BWLD) is scheduled to release its fourth-quarter earnings report after the market closes on Thursday, Feb. 11. Ahead of the event, analysts surveyed by Thomson Reuters are looking for a profit of 51 cents per share, up from 43 cents per share in the year-ago quarter. BWLD has an impressive history in the earnings spotlight, having matched or exceeded Wall Street's consensus expectations in each of the previous four reporting periods.

Finish Line (FINL) is one of the few companies stepping into the earnings spotlight during this holiday-shortened week, and traders are so far reacting with enthusiasm to the retailer's third-quarter report. Finish Line banked a surprise profit of $6.6 million, or 12 cents per share, much improved from its year-ago loss of $8.8 million, or 16 cents per share.

Revenue for the period dwindled 0.2% to $240.1 million, even as same-store sales rose 1.7%. Gross margin ticked higher to 29.5% from 27%.

Before the market opens on Thursday, October 29, cereal producer Kellogg (NYSE: K) will release its third-quarter earnings. Analysts expect the company to earn 84 cents per share in the quarter, with revenue of $3.28 billion.

In the second quarter, Kellogg saw its profit increase 13%, which gave the cereal thriller reason to up its full-year forecast. Before the second-quarter report, Kellogg expected high single-digit-percentage growth for 2009; however, this was upped to 8% to 10% following the strong second quarter. In addition, Kellogg believes it will save $1 billion annually by the end of fiscal 2011. This money will then be reinvested into advertising, which could lead to more money for the company.