NYSE Analytics 06/16
Spyder ETF drops before NYSE opening bell.
SPY (intraday chart) flat at premarket. Resistance:194.00, Support: 193.50
In reaction to strong earnings/guidance: PRLS +1.4%, FCN +1%, DDD +0.9%.
M&A news: COV +31.5% (Medtronic (MDT) to acquire Covidien for $93.22 per share), FIO +25.8% (to be acquired by SanDisk (SNDK) for $11.25 per share in cash), LLNW +13.1% (receives unsolicited offer to purchase from questionable source; mgmt does not believe proposed acquirer has the ability to complete transaction), TWTC +12.8% (to be acquired by Level 3 (LVLT) in a stock-and-cash transaction valued at $40.86), WMB +11.2% (agrees to acquire Global Infrastructure Partners’ GP and LP Interests in Access Midstream Partners for $5.995 bln; plans higher dividend; proposes subsequent merger of Access Midstream Partners (ACMP) and Williams Partners (WPZ)), MDT +7.2% (to acquire Covidien for $93.22 per share), ACMP +1.6% (WMB to acquire co), SNDK +1.2% (acquiring FIO for $11.25/sh), YNDX +0.7% (agrees to acquire Auto.ru for ~$175 mln in cash.
Select metals/mining stocks trading higher: GOLD +1.5%, ABY +1.2%, BHP +0.9%, GDX +0.7%.
Other news: BLUE +80.1% (reports rapid transfusion independence in beta-thalassemia major patients treated with its LentiGlobin product candidate), DARA +23.2% (KRN5500 granted Orphan Drug Designation by FDA for treatment of multiple myeloma), SQNM +12.7% (co and Quest Diagnostics (DGX) collaborate to expand patient access to the MaterniT21 PLUS noninvasive prenatal test; Sequenom receives FDA Premarket clearance), ARWR +8.3% (issues a statement on intellectual property protection for ARC-520), APRI +6.8% (announces the launch of its topical treatment for erectile dysfunction Vitaros in the United Kingdom), ISIS +6.7% (reports final Phase 2 data on ISIS-GCGR RX showing significant reduction in HbA1c in patients with type 2 diabetes), IMAX +3.8% (announces authorization of up to $150 mln share repurchase program), LVLT +3.6% (acquiring TWTC for $40.86/sh), SUNE +3.1% (vote to increase authorized number of shares of common stock), IMGN +2.9% (announces preclinical findings for IMGN779 demonstrated potent, targeted activity against primary AML patient cells in vitro), BLRX +2.7% (receives approval to commence Phase 1 trial for novel stem cell mobilization treatment), CGEN +2.7% (discloses experimental results for novel checkpoint candidate for cancer immunotherapy and discovery of two new candidates), WPZ +2% (trading higher with WMB), RTN +1.7% (potentially related to insurections in Iraq), NVO +1.4% (still checking), TSL +1.2% (announces supply of 23MW of modules to Linuo Solar Power’s distributed generation solar project in China), AVA +1% (approves the repurchase of up to 4 mln shares of the company’s outstanding common stock), NVS +0.6% (Holly Springs facility becomes first US pandemic-ready site licensed by the FDA to produce cell-culture influenza vaccines), IGT +0.5% (issues statement regarding exploration of strategic alternatives), FSLR +0.5% (selected by Tenaska to build 150MW solar facility in Southern California), .
Analyst comments: AKS +4.7% (upgraded to Buy from Neutral at BofA/Merrill), NMBL +4.2% (upgraded to Outperform from Neutral at Macquarie), DISH +0.9% (upgraded to Overweight from Neutral at JP Morgan), MU +0.8% (upgraded to Outperform from Neutral at Robert W. Baird), EXC +0.8% (reinstated with a Outperform and added to Focus List at Credit Suisse), EOG +0.7% (initiated with a Outperform at BMO Capital Markets), EXH +0.5% (upgraded to Sector Outperform at Howard Weil),
In reaction to disappointing earnings/guidance: LAYN -4%.
M&A news: SNN -1.3% (trading lower with MDT speculated to be a suitor for co).
Select EU financial related names showing weakness: IRE -1.5%, UBS -1.3%, ING -1.3%, NBG -1.3%, SAN -1.1%, DB -1%.
Other news: DWA -5.3% (weaker than expected opening for HTTYD 2), ETRM -4.3% (cont weakness from Friday), YHOO -3.9% (Alibaba guidance), KPTI -3.4% (entered into a Preferred Provider agreement with Veristat), IDSA -2.6% (announces $3.0 mln equity investment and $17.8 mln credit facility), WFT -2.5% (announced that its shareholders have approved changing its place of incorporation from Switzerland to Ireland at the Extraordinary General Meeting of Shareholders held in Zug, Switzerland), TWTR -1.2% (still checking).
Analyst comments: AXP -1.8% (initiated with Sector Perform at Pacific Crest), CCE -1.5% (removed from Conviction Buy list at Goldman), GNC -1.3% (downgraded to Neutral from Outperform at Robert W. Baird).
Trading Ideas NYSE & NASDAQ:
- BLUE – long above premarket high
- COV – short below 95.00
- WMB – long above premarket high