NYSE Analytics 05/14
SPY drops before NYSE opening bell
support 189.60, resistance 190.00
In reaction to strong earnings/guidance: RUBI +21.9% (also upgraded at RBC Capital Mkts and at Opco), ARTX +18.5%, NTWK +10.1%, PSDV +8.5% (thinly traded), SWAY +6.5%, CEL +5.2% (light volume), FIVN +4.6% (light volume), AG +3.6%, AMBR +2.6%, IOC +2.3%, EZCH +2.3%, (light volume), CYCC +2.2%, (light volume), M +1.8%, (also increases dividend by 25% and raises share repurchase authorization by $1.5 billion).
Metals/mining stocks trading higher: NEM +1.7%, MT +1.5%, GG +1.3%, SLV +1.2%, GDX +1.1%,SLW +1.1%, GFI +0.8%, RIO +0.6% (Rio Tinto says Vale dispute will not alter plans to build $20 bln mine, according to reports ), GOLD +0.5%, BHP +0.5% (reviewing options for its Nickel West business), SSRI+0.5%, GLD +0.1%.
A few India related names showing strength: IBN +2%, TTM +0.9%, INFY +0.6%.
A few solar names trading higher: CSIQ +1.5% (announces partnership with IKEA Australia to build 3.6MW solar system), YGE +6.6% (to provide engineering, procurement and construction services to the Electricity Generating Authority of Thailand for a 5 MW solar power plant in Thailand as a member of a four-party Consortium ).
Other news: PTX +12.1% (signs agreement to acquire TREXIMET Tablets for Migraine From GSK; co will make an upfront payment to GSK of $250 mln), ZTS +11.6% (still checking), CLDX +9.2% (Bristol-Myers and Celldex Therapeutics announce clinical trial collaboration to evaluate the combination of investigational immunotherapies nivolumab and varlilumab), ISIS +7.6% (reports Phase 2 data on ISIS-GCGR Rx showing significant reduction in HbA1c in patients with type 2 diabetes; greater than 2 percentage point reduction in HbA1c achieved after only 13 weeks of dosing ), SHLD +7.3% (Sears Hldg announced that it is exploring strategic alternatives for its 51% interest in Sears Canada), XON +5% (insider buying), IMPV +3.7% ( may be attributed to positive CNBC Fast Money mention), MM +3.1% (Pres/CEO disclosed purchase of 291000 shares, worth total of $1002.7K ), TWGP +2.6% ( discloses dismissal of PwC, appointment of BDO as auditor), BLDP +1.9% (to power fuel cell hybrid bus at UC Irvine with partners BAE and ElDorado National), DXPE +1.9% (modestly rebounding), WMB +1% (Williams Cos, Williams Partners announce 2016 dividend and distribution growth guidance; WMB expects annual dividend growth of 20% through 2016 with substantial excess cash coverage and line of sight to continued high growth well beyond guidance period),AGN +0.8% (Valeant Pharma (VRX) and Pershing Square putting more pressure on AGN, according to reports), APC +0.7% (Announces 50% quarterly dividend increase to $0.27 per share), SGMS +0.6% ( CEO & CFO disclose stock purchases worth more than $500K ), WHR +0.5% (following positive Barron’s mention), YHOO +0.5% (acquired Blink (Snapchat competitor), according to reports out last night), UA+0.4% (positive MadMoney mention), KORS +0.4% (following FOSL results), THRX +0.3% (GlaxoSmithKline disclosed purchase of 317,770 shares on 5/9).
Analyst comments: CAMP +4.9% (upgraded to Overweight from Equal Weight at First Analysis), MNKD+3.3% (upgraded to Neutral from Underweight at Piper Jaffray), INVN +1.5% (initiated at Imperial), AKAM+1.5% ( upgraded to Outperform from Sector Perform at Pacific Crest), P +1.4% (upgraded to Outperform from Market Perform at Raymond James), COHU +1.2% ( initiated with a Buy at B. Riley & Co), RCL+0.9% (upgraded to Buy from Neutral at SunTrust ), WDC +0.6% (upgraded to Overweight from Equal Weight at Barclays)
In reaction to disappointing earnings/guidance: SUTR -11.6%, ZAZA -7.2%, YUME -7.1%, BGMD-7.1%, URS -7.1%, GLOG -6.9%, SNE -5.9%, FOSL -5%, VIP -4.2%, PLUG -3.7%, RVNC -3.3% (light volume), SODA -3.3%, TTWO -3.1%, QTWW -2.9%, AMZG -2.1%, (light volume), DE -0.7%,HTZ -0.2%, ( to extend filing of Q1 2014 Form 10-Q; reaffirms FY14 guidance).
M&A related: VOD -0.4% (Vodafone PLC deal may not happen if AT&T & DirectTV deal goes through, according to reports).
Other news: HYGS -20.9% ( commences public offering of common shares from treasury and from CommScope of North Carolina, a selling shareholder), ECT -10.3% (still checking), USAC -3.6% (launches public offering of 6.6 mln common units (1 mln by certain selling unitholders) representing limited partner interests in the Partnership), SRC -2.4% (announces commencement of concurrent underwritten public offerings of 23 mln shares of common stock and $550.0 million aggregate principal amount of convertible senior notes), MITL -2.1% ( announces $91 mln bought deal secondary offering of common shares), DK -1.9% (announces secondary offering of 9.2 mln shares of common stock by selling stockholders), BPI -1.8% (files to delay its 10-Q), TTGT -1.5% (announces public offering of 5 mln shares of common stock by selling stockholders), GPT -1.2% (announces pricing of upsized public Offering of 40,000,000 Shares of Common Stock at $4.98/share), EGY -0.9% ( filed for a $500 mln mixed securities shelf offering), AR -0.9% (prices secondary public offering of 12 mln shares of common stock at $62 per share ), NXPI -0.7% (announces secondary offering of ~17.38 mln shares of common stock by selling stockholders), XXIA -0.7% (Ixia files to delay its 10-Q; completing restatement of its condensed consolidated financial statements for the quarter ended March 31, 2013), AMZN -0.7% (cautious MadMoney mention), SIVB -0.4% ( prices 3.9 mln shares common stock at $101.00 per share)
Analyst comments: NVO -1.6% (downgraded to Neutral from Buy at UBS), SQM -0.7% (downgraded to Underperform from Neutral at Credit Suisse; tgt lowered to $27 from $34)
Trading Ideas NYSE & NASDAQ:
- HYGS – long above 17.00
- SODA – short below 39.50
- SHLD – short below 45.00