NYSE Analytics 06/05
Spyder ETF grows before NYSE opening bell.
SPY (intraday chart) uptrend at premarket. Resistance:193.50, Support: 193.00
- In reaction to strong earnings/guidance: CIEN +12.7%, AXAS +10.1%, VRNT +8.9%, VRA +6.5%, XNY +4.2%, MIXT +4.1%, JOY +3.7%, FIVE +2.9%, BV +2.9%, ( to divest PowerReviews for $30 mln , RLD +2.6%, NAV +1.2%, .
- M&A news: S +3.2% (Bloomberg story that Sprint (S) and T-Mobile (TMUS) are near an agreement on price at $40/share, capital structure, and termination fee in potential deal), TMUS +0.9%.
- Select Biotechrelated names showing strength: PRAN +9.4%, CPRX +6.9%, ISIS +4.4%, CYTR +1.6%.
- Select CIEN peers trading higher: INFN +4.5%, JDSU +2.4%, JNPR +1.3%.
- Other news: NEWL(F) +43.5% (announces granting of temporary restraining order against Ironridge Global IV), HALO +15.6% (Halozyme Therapeutics to resume PEGPH20 clinical program in pancreatic cancer; FDA removes clinical hold on Phase 2 trial (study 202), GBLX +14.2% (provides shareholder update; ‘will not be selling our GrowBLOX cultivation chambers to the retail consumer’), AXAS +10.1% (raised FY14 production guidance to 5500-5700 Boepd from 5200-5300 Boepd), SSLT +6.3% (still checking), NQ +3.9% (cont strength), TWTR +2.4% (previously considered buying music related companies such as Pandora (P)/Spotify/Soundcloud, according to FT story out yesterday afternoon; also initiated with Outperform at PacCrest), MDCO +2.4% (ORBACTIVTM Phase 3 trial results published in New England Journal of Medicine), SPR +2.2% (announced public secondary offering of ~8.17 mln shares of Class A common stock by selling stockholder; co to repurchase 4 mln shares), CETV +2.2% (announces the appointment of David Sturgeon as CFO), STO +2% (still checking), ORAN +2% (won a global wide area network and embedded security services contract with Oetiker Group), OLED +1.8% (Board of directors approved $50 mln common stock repurchase program), MNTA +1.5% (receives Orphan Drug Designation for necuparanib in pancreatic cancer), ROK +1.3% (Board approved $1 bln common stock repurchase), SPEX +1.1% (has expanded its operations in Texas through the opening of a new office located in Longview, TX.).
- Analyst comments: CLVS +3.2% (upgraded to Buy at Stifel), HCLP +2.5% (initiated with a Buy at Jefferies), RATE +1.9% (upgraded to Outperform at RBC Capital Mkts), VGR +1.7% (initiated with a Outperform at Oppenheimer), CATM +1.4% (initiated with a Outperform at Wells Fargo), NBG +1.1% (upgraded to Buy from Hold at Deutsche Bank), ALLT +1% (poistive commentary at OPCO ), MSFT +0.8% (upgraded to Outperform at FBR Capital)
- In reaction to disappointing earnings/guidance/SSS: RAD -7.1%, PVH -5.9%, UTIW -1.9%, TRLA -1.7%, SJM -0.7%, A -0.2%.
- M&A news: SNN -4% (cont speculation surround M&A).
- Other news: NVAX -9.1% ( announces $100 mln public offering of common stock), RCAP -6.2% (prices public offering of Class A Common Stock), TSL -3.7% (announced the offering of $150 mln convertible senior notes; commences concurrent offering of 8.8 mln ADSs), DB -1% (fixes subscription price for new shares at EUR 22.50 per share), ILMN -0.9% ( to Offer $900 Million Convertible Senior Notes, SPWR -0.8% (announces intention to Offer $400 mln of Senior Convertible Debentures), .
- Analyst comments: Z -1.3% (downgraded to Neutral from Buy at Sun Trust Rbsn Humphrey), KOF -1.3% (downgraded to Neutral from Buy at Goldman).
Trading Ideas NYSE & NASDAQ:
- CIEN – long above 22.00, short below 21.00
- ISIS – long above 29.00
- FIVE – short below 37.50
- RCAP – short below premarket low