NYSE Analytics 06/23

Spyder ETF grows before NYSE opening bell. 

SPY (intraday chart) flat on premarket. Support 195.50, resistance 196.00.

Premarket

Gapping up/down: ABBV +2% after guidance, TEG +14%, PLXT +12% and MCRS +2% following M&A announcments, DISH +1% after upgrade; XXIA -5% and FMC -2% after guidance/earnings, MTOR -15% after settlement with ETN, NVDA -2% after dg.

Gapping up
In reaction to strong earnings/guidanceNEO +6.9%, ABBV +1.8%.

M&A newsTEG +13.8% (Wisconsin Energy (WEC) to acquire TEG for $9.1 bln in cash; total consideration is valued at $71.47 per Integrys share), CENT +12% (Harbinger Group (HRG) offers to acquire Central Garden & Pet Company for $10.00 per share in cash), PLXT +12% (to be acquired by Avago Technologies (AVGO) for $6.50 in cash), AZC +7.4% (and Hudbay (HBM) agree to friendly acquisition), MCRS +2.2% (acquired by ORCL for $68/share in cash).

Select metals/mining stocks trading higherBHP +1.9%, CLF +1.5%, RIO +1.1%, MT +0.9%.

Other newsCOCO +33.3% (U.S. Department of Education agree in principle on transition plan; co will immediately receive $16 mln in federal student aid funds earned through enrollment), TOPS +9.6% (announces delivery of first newbuild vessel), RMTI +7.8% (receives FDA approval for Calcitriol), ASTI +6.5% (reaches significant milestone for its proposed joint venture with the city of Suqian of Jiangsu Province), LULU +5.6% (founder has hired Goldman Sachs (GS) to shake up Board, according to reports), RBY +5.3% (infill drilling program continues to increase confidence in the f2 deposit at the phoenix gold project), TGD +5.1% (announces four new independent nominees for board), TC +4.9% (announces pricing terms for exchange offer of common stock for its 6.50% tangible equity units), SPPI +4.3% (still checking), NSPH +2.2% (signs molecular diagnostic supply agreement with HealthTrust), GNCA +2% (announces positive Top-Line Phase 1 results for novel universal pneumococcus vaccine candidate GEN-004), PIR +2% (strength following last week’s decline), NAT+1.8% (Co’s spin-off Nordic American Offshore (NAO) orders two more vessels), CBST +1.6% (SIVEXTRO approved in U.S. to treat serious skin infections—including those caused by MRSA), MU +1.4% (trading higher ahead of earnings), MY +1.1% (higher on strong China PMI data), INO +1% (initiates cervical cancer clinical trial), CBI +0.8% (awarded five-year contract by Exelon Generation valued at $800 mln for plant services).

Analyst commentsSQNM +5.8% (upgraded to Outperform from Mkt Perform at William Blair), BURL+4.4% (upgraded to Buy from Neutral at Goldman), WHX +3.6% (upgraded to Outperform from Mkt Perform at Raymond James), DISH +1.3% (upgraded to Buy from Neutral at Citigroup), EXPR +1% (upgraded to Buy from Neutral at Janney), BBRY +0.9% (upgraded to Equal Weight from Underweight at Evercore).

Gapping down
In reaction to disappointing earnings/guidanceXXIA -5%, FMC -1.8%.

Select EU financial related names showing weaknessNBG -3%, IRE -2.4%, RBS -1.4%, ING -1.1%,DB -0.8%.

Other newsMTOR -15.4% (reaches agreement with Eaton (ETN) to Settle Antitrust Lawsuit), BIOA -5% (secures CAD20 mln loan for Sarnia plant, light volume), KNDI -4.7% (files for $300 mln mixed securities shelf offering).

Analyst commentsENBL -2.4% (initiated with a Market Perform at Wells Fargo), NGHC -2% (downgraded to Neutral from Buy at Guggenheim), NVDA -2% (downgraded to Underperform from Sector Perform at Pacific Crest), PER -1.5% (downgraded to Mkt Perform from Outperform at Raymond James),TDC -1.3% (downgraded to Mkt Perform from Mkt Outperform at JMP Securities), SPWR -1.2% (downgraded to Hold from Buy at Brean Capital), COH -1.2% (downgraded to Underperform from Neutral at Wedbush)

 

Trading Ideas NYSE & NASDAQ:

  • CBST – long above 76.00
  • LULU – long above premarket high, short below 42.00