NYSE Analytics 06/13

Spyder ETF drops before NYSE opening bell. 

SPY (intraday chart) downtrend on premarket. Support 193.20, resistance 193.60.

Premarket

Gapping up/down: INTC +7% after guidance; OPEN +47% after PCLN announces acquisition of co for $103/sh; Oil names trading higher, INTC and OPEN peers showing strength; FNSR -22% after earnings, EU banks trading lower, .

Gapping up
In reaction to strong earnings/guidanceINTC +6.9%.

M&A newsOPEN +46.7% prior to halt (will be acquired by Priceline (PCLN) for $103/share), CGG+7.8% (hearing BHI for CGG speculation as catalyst), PCLN +0.7% (acuiring OPEN for $103/share).

Select INTC peers/related names showing strength
AMD +2.3%, HPQ +1.7%, MSFT +1.3%,MSFT +1.3%, NVDA +0.9%.

Select OPEN peers trading higher
LIVE +14.7%, YELP +11.9%, GRPN +11.3%, GRUB +8.6%.

Select oil/gas related names showing strength
CEO +2.3%, SDRL +1.5%, RDS.A +1.1%, BP+1.1%, STO +0.9%, APA +0.9%, SNP +0.8%, TOT +0.5%.

Other newsICLD +18.9% (announces it has become a VMware (VMW) partner and the opening of a New England Sales Office), NKTR +7.7% (Nektar Therapeutics confirms U.S. FDA advisory committee recommends no cardiovascular outcomes trial for peripherally-acting mu-opioid receptor antagonist (pamora) class including movantik), ARO +4.8% (higher following Sycamore Partners expressing interest in acquire Express), NEPT +4.1% (Sherbrooke plant to resume production), FCSC +4% (receives orphan drug designation for genetically-modified autologous human fibroblasts to advance treatment development for recessive dystrophic epidermolysis bullosa), BOTA +3.6% (CEO & President Russel Plumb purchases approx 32K shares at an avg price of $2.99; EVP, Corporate Dev & Strategies Jopseph Patti purchases approx 14K shares- Form 4 Filings, YGE +3.3% (Malaysia’s largest operational solar power plant powered by over 10 MWs of Yingli Solar modules), P +3% (still checking), CHSP +2.2% (to replace JOSB in the S&P SmallCap 600), BOBE +1.9% (featured on Mad Money), XEC +1.6% (to replace IGT in the S&P 500), LGND +1.3% (partner GSK announces results of Phase 3 PETIT2 study of Eltrombopag ), BTG+1.1% (announces Otjikoto Project Update; additional high grade drill results from the Wolfshag Zone).

Analyst commentsBRC +4.9% (upgraded to Buy from Underperform at BofA/Merrill), FIO +3.3% (initiated with a Buy at ROTH Capital), NMBL +3.3% (upgraded to Strong Buy at Raymond James),MNKD +2.2% (initiated with Outperform and $16 tgt at RBC Capital Mkts), PVA +2% (upgraded to Buy from Hold at Stifel), SRCL +1.9% (upgraded to Outperform at Robert W. Baird), CMCM +1.6% (initiated with Outperform at OPCO), EDR +1% (upgraded to Buy from Neutral at BofA/Merrill)

Gapping down
In reaction to disappointing earnings/guidanceFNSR -22%, CPST -3.8%.

Select EU financial related names showing weaknessNBG -2.3%, LYG -1.3%, CS -1.1%, ING-1%, DB -0.8%, HSBC -0.6%, SAN -0.5%.

Other newsETRM -7.3% (FDA releases update from review of EnteroMedics’ VBLOC implantable medical device), AXAS -3.3% (announces an acceleration in 2014 Eagle Ford activity and provide the following guidance update; Co raises production guidance to 5,800-6,000 Boepd, up from 5,500-5,700),COMM -3.3% (upsizes its secondary offering by 2.5 mln shares and prices 17.5 mln shares of common stock at $23.00 per share), QCOR -2% (Mallinckrodt (MNK) shareholders must consider risks of QCOR deal, according to reports), NVO -1.8% (still checking), TTM -1.4% (weak India markets today), DLNG-1.2% (priced public offering of 4.8 mln common units at $22.79 per unit), MT -1.1% (still checking),APAM -0.8% (announced secondary offering of ~1.84 mln shares of common stock by selling shareholders).

Analyst comments
CCG -2.4% (downgraded to Underperform from Neutral at BofA/Merrill), BLL -0.7% (downgraded to Neutral from Buy at BofA/Merrill), MRVL -0.6% (downgraded to Neutral from Positive at Susquehanna).

 

Trading Ideas NYSE & NASDAQ:

  • FNSR – long above 20.00
  • MSFT – long above premarket high
  • HPQ – long above 34.00
  • INTC – long above premarket high