NYSE Analytics 04/03
Spyder ETF a little changes before NYSE opening bell.
- European Indexes are in negative side
SPY (intraday chart) uptrend at premarket. Resistance: 189.00 , Support: 188.50
In reaction to strong earnings/guidance: CY +1.1% (also announced that Brad Buss, Executive Vice President and Chief Financial Officer is retiring from Cypress after eight years of service), RECN +0.3%.
Select battery related names showing strength: PLUG +5.6% (acquires ReliOn for $4 mln in stock; expected to be accretive to earnings in 2015 ), KNDI +2%, BLDP 2.5%, TSLA +1.2% (to appeal ban on NJ direct sales, according to reports out yesterday mid session).
Select oil/gas related names showing strength: NBR +1.7%, ESV +1.7%, CHK +0.8%, WFT +0.7% (approves change of jurisdiction of incorporation from Switzerland to Ireland), DVN +0.6%, NFX +0.6% (upgraded to Buy from Neutral at UBS).
Other news: AMRS +18.4% (Amyris and BASF reach agreement for strain engineering collaboration), CYTR +8.4% (to present updated Aldoxorubicin preclinical glioblastoma study results; support continued development of Aldoxorubicin as treatment for relapsed glioblastoma ), WPCS +6.6% (enters into definitive agreement to sell its Seattle Operations for ~ $2.7 mln), ISR +5.8% (continued strength), MNGA +5.4% (Expands into Georgia with New Distributor), ACTG +4.2% (announces settlements and license agreements), EJ +3.6% (announced that affiliate of its subsidiary Leju signed a partnership agreement with Zillow), MCP +3.5% (still checking), IRBT +2.3% (announces $50 mln stock repurchase program), CTRP +2.2% (announces up to $600 mln share repurchase program), ONNN +2.1% ( to Acquire Truesense Imaging for ~$92 mln in cash), MNKD +2.1% (continued strength), GILD +1.9% (announces results from Phase 3 Study of Sofosbuvir Among Hepatitis C Patients in Japan; The study met its primary efficacy endpoint), BBRY +1.8% (still checking), WBAI +1.5% (still checking), SUNE +1.3% (S.A.C. Capital cuts passive stake to 0.2%, down from 5.3% on 2/14 – amended 13G filing ), FIO +1.2% (Fusion-io collaborates with Oracle (ORCL) to double usable capacity for MySQL), ALLT +1.2% (receives $5 mln purchase order from a Tier-1 mobile and fixed operator), NVS +1.2% (announces data on 19 compounds at AACR highlight strong cancer pipeline across multiple molecular targets and biological pathways), HE +1.1% (issues statement: ‘Board of directors has not cut the dividend, nor is a dividend cut currently contemplated’), PACW +1% (PACW to replace MANT in the S&P MidCap 400), CHL +1% (still checking), JKS +0.6% (signs RMB241.4 Million Loan Agreement with China Development Bank for Two PV Solar Projects), COST +0.1% (positive mention on Mad Money).
Analyst comments: OPEN +2% (upgraded to Buy from Neutral at Citigroup), MON +1.6% (upgraded to Overweight from Neutral at JP Morgan), KKR +0.5% (initiated with a Outperform at Bernstein), INTC +0.5% (resumed with an Overweight from Neutral at Piper Jaffray ), NXPI +0.3% (tgt raised to $76 from $60 at BofA/Merrill)
- In reaction to disappointing earnings/guidance: SGOC -32.2%, CACI -8.9%, GBX -8.4%, EXAR -2.5%, BZH -2.4%, (sees Q2 net orders -9%; closings -13%; Reiterates Expectation of Net Income for Fiscal 2014; announces proposed offering of $300 mln aggregate principal amount of Senior Notes due 2019), TXI -1.9%, SEAS -1.4%, CS -0.2%, (light volume).
- Select financial related names showing weakness: DB -1.8% (downgraded to Neutral from Overweight at JP Morgan), USB -1.3% ( downgraded to Neutral from Buy at Goldman; removed from Conviction Buy list), NBG -2.8%, C -1.1% (Feds will open criminal investigation over C’s mexico unit, according to reports; downgraded to Neutral from Buy at Sterne Agee), LYG -1%.
- A few metals/mining stocks trading modestly lower: RIO -1.7%, BHP -1.4%, ABX -1.2%, GDX -1.1%, SLW -0.9%.
- Other news: BGMD -16.7% ( announces proposed public offering of common stock), APPY -7.7% (intends to offer shares of its common stock in an underwritten public offering), KIN -4.3% (early weakness attributed to secondary pricing), EXAS -3.9% (files mixed securities shelf offering; announces proposed public offering of $125 mln of common stock), CPRX -3.6% (announces commencement of public offering of common stock), PEIX -2.6% (Pacific Ethanol disclosed amendments to credit facility and term loan arrangements to accommodate restart of production at its Madera, California ethanol production facility), YELP -2.6% (gets subpoenas about users commonly, according to reports), LQDT -2.6% (under continued pressure), JOBS -1.5% (announces proposed private offering of us$150 million convertible senior notes), TTM -1.4% (still checking), JNPR -1.3% (discloses it expects to reduce worldwide headcount by ~6%), MANT -1.1% (MANT to replace PACW in the S&P SmallCap 600), RYAAY -1.1% (still checking), CAT -0.6% (Jim Chanos reaffirms on CNBC that he is still short CAT), BRCM -0.5% (Emulex discloses it entered into a Dismissal and Standstill Agreement with Broadcom ), CSC -0.3% (following CACI guidance).
- Analyst comments: VVUS -5.3% (downgraded to Underweight from Neutral at Piper Jaffray), XOM -0.6% (initiated with an Underperform at BMO Capital Mkts), BRCM -0.5% (resumed with a Neutral from Overweight at Piper Jaffray), LNG -0.5% (downgraded to Neutral from Outperform at Credit Suisse; tgt raised to $65 from $50)
Trading Ideas NYSE & NASDAQ:
- CACI – long above 69.00 or long at 66.00
- GBX – long above 45.00
- CTRP – short below 55.00, long above 56.00
- LQDT – short below premarket low