NYSE Analytics 04/02
Spyder ETF a little grows before NYSE opening bell.
- European Indexes are in negative side
SPY (intraday chart) uptrend at premarket. Resistance: 188.70 , Support: 188.20
- In reaction to strong earnings/guidance: AFOP +5.6%, ABTL +3.9% (light volume), URBN +0.5% (discloses sales update in 10-K; Thus far during Q1, comparable Retail segment net sales are low single-digit negative), MON +1.4%.
- M&A news: DLLR halted (DFC Global to be acquired by Lone Star Funds for $9.50 per Share in Cash; Announces Selected Preliminary Fiscal Third Quarter 2014 Results ).
- Metals/mining stocks trading higher: GFI +3.5%, EGO +2.8%, AU +2.4%, HMY +2%, SLV +1.8%, GOLD +1.5%, GDX +1.5%, CDE +1.5%, BHP +1.2% (may increase dividends and share buybacks, according to reports), BBL +1%, GLD +0.8%, AG +0.5%.
- Alternative energy related names seeing continued strength: SYMX +7.3%, KIOR +7.1%, BIOF +4.6%,
- Battery names trading higher boosted by potential for addition EV incentives in China: KNDI +3.2%, FCEL +2.7%, HPJ +2%, BLDP +1.1%, TSLA +1.4% (saw late pop higher into the close; Quartz discussing Musk’s SpaceX investor interest; also will pay Telefonica for in car wireless system, according to reports)
- Other news: MNKD +96.5% (FDA Advisory Committe votes in favor of safety and efficacy of AFREZZA for the treatment of both type 1 and type 2 diabetes), ENVI +21.2% ( announces that it is powering premium live HD sports channels on Apple TV (AAPL) for a European Tier 1 service provider), MYGN +13.8% ( discloses updated pricing for the sequencing of the BRCA1 and BRCA2 genes: Total reimbursement amount for integrated BRACAnalysis of $2,767), DRRX +7.1% (announces POSIDUR (SABER-Bupivacaine) data presentations at American Society of Regional Anesthetic and Pain Medicine Meeting), STV +6.2% (declares special cash dividend of $0.50 per share on the co’s ordinary shares), BRE +4.4% (Essex Property Trust. and BRE Properties complete $16.2 billion merger; ESS replaced CLF in the S&P 500), LNG +4.2% (Cheniere Energy and Endesa Sign 20-Year LNG Sale and Purchase Agreement; Endesa contracts for ~ 1.5 million tonnes per annum of LNG), WTSL +3.9% (yesterday an SVP disclosed purchase of 20K shares at $1.34 on Mar 31), SNSS +3.4% (ticking higher, announces MD Anderson sponsored trial of Vosaroxin in AML and high-risk MDS Poster to be presented at AACR 2014), SSYS +3% (to acquire Solid Concepts and Harvest Technologies ), MZOR +2.5% (to launch and demo new Renaissance Brain Module at American Association of Neurological Surgeons annual meeting in San Francisco), PRAN +2.2% (modestly rebounding), VPRT +1.8% (to acquire Pixartprinting Srl for a base purchase price of ~ EUR127 mln; co expects transaction to be accretive to its fiscal 2014 rev and operating cash flow, but dilutive to GAAP EPS due to transaction costs and expected amortization expense for acquisition-related intangible assets ), KUTV +1.7% (continued strength), GILD +1.6% (attributed to positive Citigroup comments and MadMoney mention), NOK +1.5% (still checking), SOL +1.5% (ReneSola Completes Sale of Three Utility-Scale Projects in Western China), NFLX +1.2% (still checking), SDRL +1.1% (secures contracts for multiple jack-up units), CELG +1% (positive comments on Mad Money), DDD +0.9% (acquired Medical Modeling; expects this acquisition to be immediately accretive to its net income), LQDT +0.9% (is apparent high bidder for non-rolling stock surplus contract with the U.S. Department of Defense), ATML +0.9% (positive comments on Mad Money), GM +0.8% (part to fix ignition problem would have cost $0.57, according to reports; initiated with a Reduce at Nomura), RVBD +0.6% (following late pullback on reports of patent trial loss against Silver Peak; RVBD responds to verdict in litigation with Silver Peak: No impact to business or customers), WBAI +0.6% (files to withdraw Registration Statement on Form F-1), AMZN +0.6% (customers can now return items using lockers; also expected to introduce media streaming device at NY event tomorrow, according to reports ), OPTT +0.5% (following late move higher), TM +0.4% ( Chinese auto sales rose 19% in March, according to reports), MDR +0.4% (prices 10 mln of 6.25% tangible equity units with stated value of $25.00), BP +0.2% (announced it intends to halt refining operations at its Bulwer Island refinery in Brisbane, Queensland by mid-2015), .
- Analyst comments: FTNT +4.8% (upgraded to Outperform from Market Perform at Wells Fargo), EJ +4.3% ( initiated with a Buy at Brean Capital), ISRG +3.7% (target raised to $525 at WallachBeth;upgraded to Mkt Outperform from Mkt Underperform at JMP Securities), GTAT +3.6% (positive Goldman comments – sees core equipment as underappreciated), SFUN +3.2% ( initiated with a Buy at Brean Capital), ALU +2.5% (upgraded to Buy from Neutral at Natixis Bleichroeder ), CTSH +2.2% (upgraded to Buy from Neutral at UBS ), CRI +0.9% (upgraded to Overweight from Neutral at Piper Jaffray), AMP +0.6% (upgraded to Overweight from Equal-Weight at Morgan Stanley), SLB +0.6% ( target raised to $115 at RBC Capital Mkts; SLB is undervalued)
- In reaction to disappointing earnings/guidance: OMN -4.3% (light volume), APOL -3.3% (also discloses University of Phoenix received a subpoena on March 21, 2014), AGU -1.4%.
- A few oil/gas related names showing modest weakness: E -0.8% (light volume), STO -0.7%, NBR -0.7% .
- Other news: RENN -5.5% (still checking for anything specific), AGEN -4.8% (Agenus provides update on GSK MAGE-A3 Cancer Immunotherapeutic Phase 3 study in non-small cell lung cancer), INSY -4.5% (discloses departure of Chief Medical Officer Larry Dillaha), ICPT -4.2% (files for mixed securities shelf offering; announces proposed public offering of 1 mln shares of common stock: 600k sold by Intercept, 400k being sold by institutional selling stockholders), NYMT -3.8% (plans to make a public offering of 13,000,000 shares of its common stock), ARMH -2.2% (still checking), ESS -1.4% (Essex Property Trust. and BRE Properties complete $16.2 billion merger; ESS replaced CLF in the S&P 500; downgraded to Neutral from Buy at Goldman), CF -1.3% (following AGU guidance), BXMT -1.1% (commenced an underwritten public offering of 8,000,000 shares of its class A common stock).
- Analyst comments: MT -2% (downgraded to Neutral from Outperform at Credit Suisse), HSTM -1.5% (downgraded to Market Perform at Northland Capital; ICD-10 delay creates near-term uncertainty), AA -1.1% (pulling back on Nomura comments — sees significant downside risk)
Trading Ideas NYSE & NASDAQ:
- MNKD – short below 7.50
- SSYS – long above premarket high
- GILD – long above 75.50
- APOL – long above 34.50