NYSE Analytics 05/29
SPY grows before NYSE opening bell
Support – 192.00, resistance 191.50
Uptrend at premarket
In reaction to strong earnings/guidance: PANW +12.9%, ANF +7.2%, SAFM +4%, PLKI +2.4%, PLL+2.2%, VTL +2%, ENS +1%, UHAL +0.9%, .
M&A news: SNN +4.9% (cont M&A speculation), TMUS +1.7% (Kyodo report suggesting Deutsche Telekom (DTEGY) approved Softbank (SFTBY) deal), AVGO +1.1% (Seagate (STX) to acquire LSI’s flash businesses from Avago for $450 mln in cash), IHG +0.9% (Marcato Capital Management comments on rumors regarding IHG).
Other news: XGTI +23.5% (announces second new U.S. Patent award this week for Interference Mitigation Techniques), XXII +9.8% (LOI for production of nicotine-free tobacco cigarettes), NBS +8.2% (presents five-year survival data for Autologous Melanoma Immunotherapy targeting cancer stem cells), STEM +7.2% (CEO updates investors in Letter to Shareholders), ICPT +6% (FDA fast track designation to obeticholic acid for the treatment of patients with primary biliary cirrhosis), ONTY +6% (Co and and Celldex Therapeutics (CLDX) announce collaboration for combination immunotherapy clinical trial of ONT-10 and varlilumab), BCRX +3.7% (priced public offering of 10 mln shares of common stock at $10 per share), BBRY +2.9% (following exec appearance on CNBC — expects to be cash flow positive or breakeven by year-end), RCAP +2.1% (announced proposed public offering of 15 mln shares of Class A common stock; RCAP Holdings, the controlling stockholder of RCAP, proposing to offer and sell 5 mln shares), KNDI +1.9% (Several US states may introduce electric vehicle incentive plan, according to reports), EROC +1.4% (announced credit facility amendments and new upstream borrowing base), JNPR +1.1% (Juniper Networks Announces Settlement of Patent Litigation With Palo Alto Networks), LOCK +0.9% (Okumus Fund Management discloses 8.67% passive stake in 13G filing).
Analyst comments: CLNE +4.6% (initiated with a Overweight at Morgan Stanley), MELI +4.1% (upgraded to Overweight from Neutral at JP Morgan), TWTR +2.3% (upgraded to Buy from Hold at Cantor Fitzgerald),DO +2.3% (upgraded to Equal-Weight from Underweight at Morgan Stanley), BIIB +2% (upgraded to Overweight from Neutral at JP Morgan), VMW +1.3% (upgraded to Overweight from Neutral at Piper Jaffray),EXAM +1.2% (initiated with a Buy at Deutsche Bank), CSG +1% (initiated with a Outperform at Wells Fargo),QIHU +0.9% (upgraded to Outperform from Underperform at Standard Chartered), DLTR +0.9% (upgraded to Buy from Neutral at Sterne Agee)
In reaction to disappointing earnings/guidance: TLYS -27.7%, GMAN -15.4%, DLIA -11%, SOL-10.4%, FRED -6.2%, CPRT -3.6%, SB -2.5%, QSII -0.8%, .
Select metals/mining stocks trading lower: GFI -1.7%, AUQ -1.4%, AG -1.3%, SLV -1%, HMY -0.8%,GLD -0.5%, GDX -0.5%, .
Other news: SPEX -27.7% (cont volatility), DARA -8.3% (pulling back after +98% yesterday), FN -7.5% (announces secondary offering of 3.15 mln shares by selling shareholder), LIVE -6.3%, CZR -5.1% (Apollo (APO) plans to align with some CZR creditors, according to reports), AIRI -5.1% (enters into definitive agreements with certain investors to sell an aggregate of 1,170,000 shares of its common stock in a registered direct offering), STON -3.8% (announces public offering of 2.6 mln common units ), RXN -3.4% (prices 15 mln shares of common stock by selling shareholders at $25.50 per share), BAH -3.1% (announces sale of 10 mln shares of common stock by an affiliate of the Caryle Group), CSTE -1.5% (announces offering of 5.5 mln shares by selling shareholder), INFY -1.4% (cont weakness following -8% in Indian mkt hrs), .
Analyst comments: PT -1.9% (downgraded to Hold from Buy at Berenberg), DG -1.1% (downgraded to Neutral from Buy at Sterne Agee), CS -0.6% (downgraded to Neutral from Buy at BofA/Merrill).
Trading Ideas NYSE & NASDAQ:
• STON – long above 24.00
• HSH – short below 51.00
• PANW – long above premarket high