NYSE Analytics 06/11

Spyder ETF drops before NYSE opening bell.

SPY (intraday chart) downtrend on premarket. Resistance 195.00, support 194.50


Gapping up
In reaction to strong earnings/guidanceSYNA +20.6%, (also acquires Renesas SP Drivers; co will pay a purchase price of ~JPY48.5B ($475 mln) for 100% of Renesas SP Drivers, based on JPY52.5B ($515 mln) enterprise value. The acquisition will be immediately accretive to Synaptics’ non-GAAP EPS), ULTA+11.6%, RMBS +7.2%, (also signs comprehensive license agreement with Qualcomm (QCOM)) HRB+3.8%, SPWH +2.1%

Select metals/mining stocks trading higherAUY +1.1%, AG +0.8%, NEM +0.5%.

Other newsNAVB +8.9% (Lymphoseek injection demonstrates preferential accumulation in tumor-positive sentinel lymph nodes in post-hoc analysis), OSUR +7.2% (announces new co-promotion agreement for OraQuick HCV rapid antibody test), PTLA +7% (announces positive Phase 2 data with FDA-designated breakthrough therapy Andexanet Alfa and Enoxaparin), SPEX +6.7% (and Charter Communications (CHTR) file joint stipulation of dismissal), END +5% (cont strength following guidance), PSEC +4.9% (announces no restatement of historical financial statements based on discussions with the Office of the Chief Accountant of the SEC ), AMRN +3.3% (announces publication of case study results describing reductions in multiple lipid parameters for individual hyperlipidemic patients switched to Vascepa), INFY +2.9% (still checking), ITRN +2.8% (thinly traded, still checking), PBR +2.4% (still checking), GHDX +2.2% (announces positive topline results of second large, independent validation study of Oncotype DX in DCIS breast cancer), CRDC +2% (announced completion of laparoscopic appendectomy procedure with virtually no perceptible scar), NKTR +1.6% (FDA advisory committee to discuss peripherally-acting opioid receptor antagonists – halted), BSX +0.9% (announces clinical study results demonstrate therapeutics advantages of the Boston Scientific Vercise DBS System for patients with Parkinson’s disease), BLRX +0.9% (receives notice of allowance for US Patent covering novel treatment for celiac disease ), PGNX +0.8% (FDA advisory committee to consider and provide recommendations regarding peripherally-acting opioid receptor antagonists – halted).

Analyst commentsANGI +3.6% (upgraded to Buy at Wunderlich), MU +2.7% (upgraded to Buy from Underperform at BofA/Merrill), MRVL +1.1% (upgraded to Buy from Neutral at Nomura), AMZN +1% (added to Conviction Buy list at Goldman), SNDK +1% (upgraded to Buy from Underperform at BofA/Merrill), DSX +1% (upgraded to Equal Weight from Underweight at Barclays)

Gapping down
In reaction to disappointing earnings/guidanceBNNY -2%, UNFI -1.5%, I -1.5%, OXM -1.3%.

Select EU financial related names showing weaknessNBG -3.4%, UBS -1.9%, ING -1.8%, SAN-1.3%, DB -1%, BCS -0.9%.

Other newsOREX -15.9% (receives three month extension of FDA NB32 review), PVA -5% (announced proposed private offering of $250 mln of depositary shares representing convertible preferred stock), RCPT-3.7% (filed $150 mln shelf ), CTIC -3.2% (still checking), HLT -2.7% (files for 90 mln share common stock offering by selling shareholders), SN -2.5% (announces offering of 5 mln shares of common stock & private offering of $700 mln in Senior Notes), IDRA -2.3% (still checking), EXC -2.1% (plans to commence concurrent registered offerings of 50 mln shares of its common stock in connection with forward sales agreements and 20 mln equity units), STAY -2% (announced offering of 21 mln paired shares by selling stockholders), BAC -1.1% (settlement negotiations with DoJ hit a roadblock, according to reports), CHL-1.1% (Moody’s said China Mobile’s investment in True Corp is credit negative), PRAN -1% (seeing continued strength (+20% over past two days)), LLY -0.9% (announces top-line results of Phase III Hepatocellular Carcinoma trial; did not meet its primary endpoint; overall survival favored the CYRAMZA arm but was not statistically significant), DAL -0.8% (German carrier Lufthansa issued profit warning).

Analyst commentsDCIX -1.5% (downgraded to Underweight from Equal weight at Barclay), BA -1.2% (downgraded to Sector Perform at RBC Capital Mkts), BEAV -0.7% (downgraded to Hold from Buy at Jefferies, downgraded to Hold from Buy at Canaccord Genuity), DDD -0.6% (downgraded at Gabelli).

Trading Ideas NYSE & NASDAQ:

  • RCPT – long above 39.00, short below 38.00
  • HLT – short below premarket low
  • SYNA – short below 80.00
  • ULTA – long above premarket high