NYSE Analytics 06/10

Spyder ETF drops before  NYSE opening bell. 

SPY (intraday chart) flat on premarket. Support 195.20, resistance 195.60

Premarket

Gapping up
In reaction to strong earnings/guidance

MCOX +19.7%, CBK +9.5%, TPLM +6.2%, ENZ +4.6%,LMNR +3.5%, BURL +3.3%, KANG +2.7%, HDS +1.8%, PBY +1.4%.

M&A newsCHS +15.6% (seeing reports that co is exploring going private), CLSN +12.1% (to acquire Egen; purchase price will be in exchange for cash and shares of Celsion totaling $14 mln – halted), ONNN +2% (to acquire Aptina Imaging for ~ $400 mln in cash; transaction is expected to be immediately accretive to earnings),MHR +1.6% (disclosed that it filed with the Australian Securities Exchange a notice of intention to make a takeover offer for Ambassador Oil and Gas).

Other newsRCPT +35.3% (reported positive Phase 2 results for RPC1063 in relapsing multiple sclerosis; Study met primary efficacy endpoint with statistical significance after 24 weeks of treatment), ACHN +32% (announces initiation of ACH-3422 dosing in HCV-infected patients and ability to resume sovaprevir clinical program for the treatment of chronic HCV), SPEX +11% (commences patent litigation against Huawei), AVNR+6.7% (announces positive outcome of Phase IIIb COMPASS Trial), INO +5.8% (initiates immune therapy trial for head & neck cancer caused by HPV ), SGMS +4.7% (IGT peer, names Gavin Isaacs as new CEO),ISIS +4.6% (earns $15 mln from AstraZeneca (AZN) for initiation of Phase 1 study of ISIS-AR Rx), CVA+3.9% (co announces cost saving initiative and intention to increase quarterly cash dividend to $0.25 per share from $0.18 per share), ONVO +2.2% (still checking), SAVE +1.7% (disclosed May 2014 traffic increased 18.7% year over year), NAVB +1.7% (reports data demonstrating potential of manocept platform to diagnose rheumatoid arthritis and kaposi’s sarcoma), WRES +1.3% (increases in borrowing base to $175 mln under Senior Credit Facility, from $165 mln prior), CVEO +1% (Jana Partners disclosed 11.5% active stake in 13D filing).

Analyst commentsENTR +3.9% (upgraded to Buy at Needham), S +2.3% (upgraded to Outperform from Neutral at Macquarie), JMEI +1.4% (initiated with a Buy at Goldman), IGT +1.3% (Wells Fargo sees potential sale of $15-17+/share), BUD +1.1% (tgt raised at RBC), RSG +1.1% (upgraded to Strong Buy from Mkt Perform at Raymond James ), AMCC +0.9% (initiated with a Buy at Canaccord Genuity), NFLX +0.7% (upgraded to Overweight from Equal Weight at Evercore), SWHC +0.5% (target raised to $21 from $18 at Northland Capital)

Gapping down
In reaction to disappointing earnings/guidance
RSH -14.3%, FRAN -9%, SURG -3.2%, CASY -3%.

M&A newsEGBN -0.8% (Eagle Bancorp and Virginia Heritage Bank announce merger agreement).

Select EU financial related names showing weaknessNBG -2.2%, SAN -1.3%, BBVA -1.2%, ING-1.1%, DB -0.9%, HSBC -0.5%.

Other newsDNDN -5.6% (CEO steps down for personal reasons), ROYT -5.5% (announced secondary offering of ~2.654 mln trust units by selling unitholders), BAS -4.5% (announced secondary public offering of 6 mln shares of common stock by DLJ Merchant Banking Partners III and related funds), VRNT -4.5% (announced proposed concurrent underwritten public offerings of 5 mln shares of common stock and $300 mln of convertible senior notes due 2021), BEAV -3.8% (announced plan to separate into two businesses, aircraft cabin interior equipment & distribution logistics), QIWI -3.2% (filed for offering of ~7.97 mln ADSs, with ~1.99 mln being sold by QIWI, 5.98 mln being sold by selling shareholdes), EBAY -1.5% (announced that PayPal President David Marcus is leaving the company on June 27 to lead Facebook’s (FB) messaging products),TSLA -0.7% (Auto makers in Pennsylvania do not want TSLA to avoid franchise laws for retail stores, according to reports).

Analyst commentsWEN -2.3% (downgraded at Argus), COUP -1.7% (downgraded to Sell from Neutral at Goldman), LVS -1.6% (downgraded to Neutral from Buy at UBS), TSN -1.1% (downgraded to Underperform from Neutral at Credit Suisse)

Trading Ideas NYSE & NASDAQ:

  • BAS – long above 26.50
  • BEAV – short below premarket low
  • BT – long above 66.50
  • RCPT – short below 38.00