NYSE Analytics 04/10
Spyder ETF drops before NYSE opening bell.
- European Indexes are in positive side
SPY (intraday chart) downtrend at premarket. Resistance: 187.00 , Support: 186.50
- In reaction to strong earnings/guidance/SSS: RT +11.2%, RAD +9.4%, (also acquires Houston-based RediClinic; financial terms not disclosed ), PIR +3.7%, ANGO +2.5% (light volume), CSH +2.2% (ticking higher; authorized management to review strategic alternatives including spin off of online business; raises Q1 EPS above consensus), TITN +1.3%, (light volume), COST +1%, JOEZ +0.8%, SJR +0.5%.
- M&A related: LORL +7% ( Ontario Teachersa Pension Plan front-runner to acquire LORL for $80.00/share, according to reports), GG +1.6% (Goldcorp increases offer for Osisko to CAD7.65 per share in cash and Goldcorp shares).
- Metals/mining stocks trading higher: AUY +3.5% (upgraded to Neutral from Underweight at HSBC), IAG +3.1%, CDE +2.3%, AG +2%, SLV +1.5%, ABX +1.4%, GDX +1.3%, GLD +1%, GOLD +0.8%.
- Select biotech/pharma related names showing strength: CELG +1.8%, SHPG +1.6%, MRK +2.1%.
- Other news: BAXS +14.6% (receives 510(k) clearance for the Avance MIS Pedicle Screw System), ONVO +4.5% (disclosed update on the results of its initial study of 3D breast tissues generated with its NovoGen MMX Bioprinter in breast cancer models), PXLW +4% (following yesterday’s late push higher), UEC +2.5% (Huber Capital Management discloses 10.14% passive stake in 13G filing), BBRY +1.8% (to introduce Haswell Refresh CPUs in early May, according to reports), CHL +1.7% (still checking), GG +1.6% (reports Q1 gold production of 680,000 ounces), KKD +1.2% (following positive mention on Mad Money), MHR +1.1% (following positive mention on Mad Money), SAVE +0.9% (following positive mention on Mad Money), CPE +0.8% (SVP bought ~14.6k shares at $8.30 worth ~$120k on April 7), HCLP +0.8% (prices 4.25 mln common units at $41.29 per common unit), FB +0.5% (to discontinue messaging on mobile app, according to reports; upgraded to Buy from Hold at Pivotal Research; tgt raised to $72 from $66 ).
- Analyst comments: LBTYA +2.8% (added to Conviction Buy list at Goldman), NFLX +1.6% (upgraded to Buy from Hold at Hudson Square Research), HPQ +1.5% (initiated with a Buy at Deutsche Ban), TWTR +1.2% (upgraded to Hold from Sell at Cantor Fitzgerald ), NKE +0.7% (Nike upgraded to Outperform from Neutral at Macquarie), NTRI +0.6% (initiated with a Buy at B. Riley & Co), E +0.5% ( upgraded to Outperform from Neutral at Exane BNP Paribas), AAPL +0.4% (initiated with a Buy at Deutsche Bank)
- In reaction to disappointing earnings/guidance/SSS: IMPV -35.3% (also downgraded to Perform from Outperform at Oppenheimer), SIGM -7.3% (also names Elias Nader Chief Financial Officer), BBBY -5.6%, APOG -5.6%, FDO -4.4%, CRS -2.2%, (light volume), PSMT -1.9%, CVX -1.5%, (issues interim update for Q1: earnings expected to be lower than prior quarter (2013 Q4 EPS was $2.57; current Q1 Capital IQ Consensus Estimate is $2.78).
- Select financial related names showing weakness: NBG -3.5%, BBVA -2.3%, IRE -2.1%, SAN -1.3%, DB -1.1%, ING -1% .
- IMPV peers trading lower: FEYE -3.7%, PANW -2.2%, FTNT -1.3%, QLYS -1.1%, CHKP -0.8%, SYMC -0.7%, CTXS -0.4%.
- A few auto related names are trading lower with ongoing recall concerns: TM -2.4%, HMC -1.2%, ALV -1%
- CVX peers modestly lower: TOT -0.7%, SDRL -0.6%, STO -0.5% (downgraded to Underperform from Neutral at Exane BNP Paribas)
- Telecom names modestly lower: TLK -2.1%, ERIC -1.3%, VOD -1.3% (Piramal Enterprises agrees to sell equity stake in Vodafone India), TEF -0.6%, VZ -0.5%
- Other news: TEU -7.6% (announces commencement of public offering of common shares and warrants), NVDA -6.1% (still checking), AVEO -4.6% (AVEO Pharma and Biodesix partner to co-develop and commercialize ficlatuzumab with a companion diagnostic for treatment of NSCLC), TAC -2.5% (announced $125 million secondary offering of 10,950,000 common shares), NMFC -1.2% (commences offering of 3,500,000 shares of common stock), SI -1.2% (still checking), TLMR -1.1% (announces agreement to sell its 11 branch offices in Wisconin to subsidiary of Wintrust Financial), .
- Analyst comments: COG -0.6% (downgraded to Hold from Buy at Stifel)
Trading Ideas NYSE & NASDAQ:
- RAD – short below 6.80
- IMPV – long above 33.00
- BBBY – long above 64.00
- FDO – long above 57.50, short below 56.50