NYSE Analytics 06/09

Spyder ETF drops before  NYSE opening bell. 

SPY (intraday chart) flat on premarket. Support 195.25, resistance 195.60


Gapping up
In reaction to strong earnings/guidance
ASX +0.8%.

M&A newsIDIX +236.5% (to be acquired by Merck (MRK) for $24.50 per share in cash), HITT +29% (to be acquired by Analog Devices (ADI) for $78 per share in cash), HSH +4.9% (Tyson Foods (TSN) confirms binding offer to acquire all outstanding shares of HSH for $63/share).

Select metals/mining stocks trading higherGG +1.5%, GOLD +0.7%, SLV +0.7%, MT +0.7%,EOG +0.6%, BHP +0.4%.

Other newsACHN +38.5% (IDIX peer), FDO +13.2% (Carl Icahn discloses 9.4% active stake in FDO; intends to have conversations with mgmt), CGIX +5.5% (announces partnership with AZN to provide biomarker & molecular based testing), RDNT +5.3% (announced that it has joined with WellMatch to collaborate and help launch a new online service for its imaging centers), SQNM +5.1% (announces third national coverage agreement for prenatal diagnostic testing servides), BDSI +4% (received FDA approval for BUNAVAIL Buccal Film for the maintenance treatment of opioid dependence), ODP +3.8% (positive Barrons mention), PF +3.3% (related to HSH/TSN news), GBLX +3.1% (secured special use permit for medical marijuana establishment in Clark County, Nevada), OREX +2.8% (Biotech peer), ARIA +2.4% (IDIX peers), BKS +1.5% (headlines over the weekend that BKS & AVGO’s LSI have ended Nook related lawsuits), TEVA +1.1% (FDA approves expanded label for AZILECT for treatment across all stages of parkinson’s disease), MTOR +1% (Sandell Asett Mgmt discloses 5.1% stake in 13D ), HK +0.9% (provides an operational update in the Tuscaloosa Marine Shale; announced the signing of a definitive agreement with credit funds and accounts).

Analyst commentsDG +8.7% (mentioned positively at BofA/Merill related to positive developments with Coupon.com (COUP) and upgraded to Buy from Hold at Jefferies), ARCO +5.1% (upgraded to Buy from Underperform at BofA/Merrill), BMRN +1.4% (upgraded to Outperform from Neutral at Credit Suisse),WETF +1.1% (upgraded to Overweight from Equal-Weight at Morgan Stanley)

Gapping down
In reaction to disappointing earnings/guidance/SSS
CNSI -5.8%, FGP -0.4%, MCD -0.2%.

M&A newsTSN -1.5% (confirms $63 per share bid for HSH), MRK -0.8% (announces acquisition IDIX).

Other newsNSR -6.3% (confirms update on Local Number Portability Administrator Selection Process, award to go to ERIC unit), AVGO -5% (headlines over the weekend that BKS & AVGO’s LSI have ended Nook related lawsuits), CRUS -2.3% (still checking), GILD -1.7% (potentially related to MRK acquistion of IDIX), RTN -0.7% (cautious Barrons mention), ACHC -0.6% (light volume, announces commencement of consent solicitation related to its 12.875% senior notes due 2018), CANF -0.5% (provides an update on its clinical developments and strategic plans).

Analyst commentsMPEL -2.7% (Cautious note on Macau at Deutsche Bank), LVS -1.9% (Cautious note on Macau at Deutsche Bank), WYNN -1.9% (Cautious note on Macau at Deutsche Bank), TOT-0.6% (downgraded downgraded to Hold from Buy at Cannacrod Genuity), ZEN -1.3% (initiated with a Neutral at Goldman, a Equal-Weight at Morgan Stanley, Neutral at CS).

Trading Ideas NYSE & NASDAQ:

  • YNDX – long above 33.50, short below premarket low
  • HSH – short below 62.00
  • DG – long above premarket high
  • FDO – short below 67.50