NYSE Analytics 05/22
SPY changes slightly before NYSE opening bell
support 189.00, resistance 189.35
flat at premarket
In reaction to strong earnings/guidance: PERY +14.9%, PLCE +9.9%, EGHT +7.4%, SMTC +6.5%,WSM +5.5%, RENN +5%, DLTR +5%, KIRK +5%, SMRT +1.5%, LB +1%, NTAP +0.9%.
India related names showing strength: SSLT +2.5%, SIFY +2.3%, IBN +0.5%.
Select metals/mining stocks trading higher: SLV +1.7%, RIO +1.3%, GOLD +1.1%, BHP +1%,GLD +0.8%.
Solar names seeing continued strength: YGE +3.5%, SOL +3.1%, JKS +1.8%, CSIQ +0.8%.
Other news: ROYL +20.3% (large drillable target identified on Alaskan 3D seismic), SN +9.1% (doubles proved reserves and production with $639 mln acquisition of 106k contiguous net acres in the Eagle Ford trend of South Texas; immediately accretive to earnings and cash flow per share ), NIHD +8.8% (cont strength), ZLCS +8.6% (reports successful results from a phase 1 clinical study to evaluate multiple modified-release formulations of Z944), DNDN +6% (cont strength), LOV +5.8% (co issues open letter; cautions stockholders not to be misled by Osmium’s inaccurate statements and deceptive practices), ISIS +4.7% (reports positive phase 2 data for ISIS-FXI Rx in the prevention of venous thrombosis in patients undergoing total knee replacement surgery), GOGO +3.2% (still checking), LINE +3.2% (co and LinnCo (LNCO) announced agreement to trade a portion of its Permian Basin properties to Exxon Mobil (XOM) and its wholly owned subsidiary XTO Energy for operating interests in the Hugoton Basin) IDCC +2.5% (China’s NDRC accepts co’s commitments and suspends Its investigation), SNE +2.3% (Japan mkts +2% overnight; co does not plan to sell TV business, CEO says, according to reports), HES +1.9% (proceeds from sale of its retail business to Marathon Petroleum (MPC) will be used for additional share repurchases), POST+1.7% (increases offering by 1 mln shares and prices 5.5 mln shares of common stock at $47.70 per share),VRTX +1.3% (may be attributed to positive Adam Feuerstein mention), GBX +0.9% (announces alliance with Mitsubishi UFJ Lease & Finance (MTU); MUL plans to acquire ~ $1 billion in leased railcars over multi-year period).
Analyst comments: CTIC +4.3% (initiated with a Buy at Ladenburg Thalmann), HCLP +2.1% (initiated with a Outperform at Cowen), NBR +1.3% (upgraded to Buy from Hold at Jefferies), RDY +1.3% (upgraded to Overweight from Equal Weight at Barclays), FB +0.9% (upgraded to Overweight from Equal Weight at Evercore), BA +0.7% (upgraded to Buy from Hold at Drexel Hamilton )
In reaction to disappointing earnings/guidance: WUBA -7.7%, MOV -4%, BBY -3.9%, SINA -3.8%,SHLD -3.7%, SNPS -3.2%, BONT -2.7%, ANW -2.4%, PDCO -2.4%, MNRO -1.2%.
M&A news: ZLC -2% (reiterates commitment to $21.00 per share purchase price for Zale and encourages Zale stockholders to vote in favor of the transaction), AZN -1.1% (cont volatility due to M&A spec), UL-0.7% (agrees to Sell Ragu and Bertolli Pasta Sauce brands to Mizkan Group for $2.15 bln).
Select names showing weakness due to public offerings: TRNO -4.1% (announces public follow-on offering of 6,500,000 shares of common stock), CDW -3.4% (files for 15 mln common stock shelf offering by selling stockholders), RLJ -2.8% (announces 7.5 mln public offering of common shares), MNR -2.6% (prices 7 mln shares of common stock at $8.50 per share).
Other news: ATVI -1.1% (Activision Blizzard announces sale of common stock by Vivendi )
Analyst comments: SODA -2.8% (downgraded to Underweight from Equal Weight at Barclays), AEO-2.4% (downgraded to Sell from Neutral at Citigroup), NX -1.8% (downgraded to Neutral from Outperform at Wedbush), STM -1.5% (downgraded to Underweight from Neutral at HSBC Securities), GRFS -1.3% (initiated with a Sell at Societe Generale), GMCR -0.8% (downgraded to Neutral from Buy at ROTH Capital), MOS -0.6% (downgraded to Neutral from Outperform at Macquarie).
Trading Ideas NYSE & NASDAQ:
• SHLD – short below 35.00, long above 35.50
• SN – short below 31.00
• DLTR -long above premarket high
• HES – short below 92.00
• SRPT – long above premarket high