NYSE Analytics 05/21
SPY grows before NYSE Opening bell.Support 187.50, resistance 188.00
uptrend at premarket
In reaction to strong earnings/guidance: MY +15.4%, QIWI +8.9%, TSL +8.5%, TIF +6.6%, CTRN+5%, LQ +1.7%, ADI +1.4%.
M&A news: RIOM +6.1% (Co and Sulliden to combine their respective businesses),AZN +2.5% (cont M&A speculation with Pfizer (PFE).
Select solar stocks trading higher following Digitimes report suggesting Solar PV module shipments to grow by 30%, also in sympathy with TSL earnings: YGE +5.3%, SOL +3.9%, JKS +3.3%, JASO+2%, CSIQ +1.9%, FSLR +1%.
Select oil/gas related names showing strength: TOT +1.4%, STO +1.1%, BP +1%, RDS.A +0.7%.
Other news: NEWL +21.1% (continued momentum), LIQD +13.3% (cont strength, signed marketing agreement with ConvergEX, initiated with OP at JMP Securities, CEO insider buying), ADMS +8.6% (received $25 mln milestone payment from Forest Laboratories), HERO +5% (announces five year drilling contract for newbuild jackup rig with Maersk Oil; Total contract value is approximately $420 million ),WAVX +4.8% (still checking), CYTK +3.4% (announces three publications relating to tirasemtiv and the impact of skeletal muscle activation on respiratory function and muscle strength), FEYE +3.2% (today is expiration of lock-up agreements in connection with Secondary), CMRX +2.7% (prices 7.3 mln shares of common stock at $14.22 per share), NUAN +1.6% (signs agreement with Oracle (ORCL) to add voice capabilities to wide range of Oracle mobile apps), ITMN +1.3% (announced additional pirfenidone data in idiopathic pulmonary fibrosis: Long-term Safety Outcomes Published in the Journal of Respirology), ALU+1% (still checking, opened a new Bell Labs office near Tel Aviv), BHP +0.9% (provides update on towage services at Port Hedland), CPF +0.7% (announced $30 mln stock repurchase program), NFLX +0.5% (plans to significantly expand in Europe later this year).
Analyst comments: ICPT +4.3% (defended at Oppenheimer), QSII +3.3% (upgraded to Outperform at RBC Capital Mkts), NOK +2.9% (upgraded to Buy from Hold at Jefferies), ADC +2.2% (upgraded to Buy at Wunderlich), AIG +1.7% (upgraded to Buy from Neutral at Goldman), AINV +1.5% (upgraded to Mkt Outperform from Mkt Perform at JMP Securities), OIS +1% (upgraded to Outperform from Mkt Perform at Raymond James)
In reaction to disappointing earnings/guidance: PETM -8%, AEO -5.1%, INTU -4.6%, HRL -3.9%,DY -2.9%, VSAT -2.8%, MMYT -0.9%, CRM -0.5%, .
Other news: MEIL -20.8% (announced proposed public offering of common stock; size not disclosed),ELY -4.2% (cont weakness), NBL -2.3% (announces termination of Leviathan MoU with Woodside), IPCI-2% (filed for $100 mln mixed securities shelf offering), ARCP -1.9% (launches an offering of 100 mln shares of its common stock; intends to sell multi-tenant shopping center portfolio to Blackstone (BX)), CNMD-1.3% (following late move lower on scepticism surrounding sale process), ST -1.3% (announced offering of 11.5 mln ordinary shares by selling shareholder and repurchase of its ordinary shares).
Analyst comments: NUVA -1.4% (downgraded to Hold from Buy at Needham), DKS -0.7% (downgraded to Neutral from Buy at Goldman; removed from Conviction Buy list, downgraded to Hold from Buy at Canaccord Genuity), POT -0.6% (downgraded to Mkt Perform from Outperform at Raymond James).
Trading Ideas NYSE & NASDAQ:
• BBY – long above 25.00
• PETM – long above 58.00, short below 56.00
• QIWI – long above 38.00
• TIF – short below 93.00