NYSE Analytics 06/25

Spyder ETF drops before NYSE opening bell. 

SPY (intraday chart) downtrend on premarket. Support 194.00, resistance 195.00.

Premarket

Gapping up/down: MON +7% on earnings, MDCI +94% and HBI +5% on M&A news, AERI +42% after releasing Phase 2b data, FL +2% after analyst initiation; VMI -5% and GIS -2% after earnings, refiners trading lower, COH -1% after dg.

Gapping up
In reaction to strong earnings/guidanceMON +6.9%, KEQU +2.7%, APOL +1.6%.

M&A newsMDCI +94.3% (Owens & Minor (OMI) acquires MDCI for $13.80/share in cash), SQBG+16.6% (signs definitive agreement to acquire Galaxy Brand Holdings), HBI +5% (to acquire DBApparel; offer values DBA at EUR400 mln on an enterprise basis), SHPG +1.9% (AbbVie (ABBV) issues press release explaining rationale for proposal to the Board of Shire of £20.44 in cash and 0.7988), .

Select names showing strength related to index changesAMG +3.3% (to replace FRX in the S&P 500),SYRG +3% (to replace BDC in the S&P SmallCap 600), SGNT +1.9% (to replace LHO in the S&P SmallCap 600), LHO +0.5% (to replace AMG in the S&P MidCap 400).

Select oil/gas related names showing strength after White House has allowed first ultra light oil exports by Pioneer Natural Resources (PXD) and Enterprise Products Partners (EPD): FRO +3.7% (shippers potentially benefit), PXD +2.4%, EPD +1.5%, CLR +1%, WLL +0.8%, NAT +1% (shipper).

Other newsAERI +42.6% (reports Roclatan phase 2b results achieve all clinical endpoints), NSPH +23.2% (announced it has received FDA 510(k) clearance for the bacterial portion of its Verigene Enteric Pathogens Nucleic Acid Test), DLIA +17.7% (seeing continued strength after Leon Cooperman filed amended 13G with 11.42% stake), ATOS +15% (received quality registration certificates ISO 13485:2003; EN ISO 13485:2012 and AC:2012 (Canadian); and ISO 9001:2008), SYN +12.2% (reports that Licensor Cedars-Sinai finds eradication of gut methane improves insulin sensitivity and lipid profiles in study of pre-diabetic, obese patients),POWR +10.9% (co announced it intends to vigorously defend against the claims made in securities class action lawsuits filed last month against the co and two of its officers), ATEA +6.4% (announced $2 mln capital investment), AKER +6.3% (signs distribution agreement with Medline), INSY +6.3% (announces orphan drug designation for its pharmaceutical cannabidiol for the treatment of Lennox-Gastaut Syndrome, a rare pediatric-onset epilepsy), IMS +5.6% (to acquire Cegedim’s Information Solutions and CRM businesses for $520 mln; As a result of the anticipated timing, IMS Health’s 2014 full-year guidance provided during the co’s Q1 earnings call is unchanged), HOLX +5.4% (study published in the Journal of the American Medical Association), PGH+4.6% (announced doubling of value of 2P reserves at Lindbergh from $1.0 bln to $2.2 bln), AMPE +3.9% (closes enrollment in the OptimEyes Study and will present the data to the FDA for Guidance), AMBA +3.4% (continued strength following yesterday’s positive CNBC mention), ISRG +2.9% (receives CE Mark for the da Vinci Xi Surgical System), BMY +2.7% (announced that the Phase 3 first-line melanoma study of nivolumab, an investigational PD-1 checkpoint inhibitor, demonstrated superior overall survival compared to dacarbazine; study stopped early), HLT +2.3% (prices secondary offering of 90 mln shares of common stock by certain selling stockholders affiliated with The Blackstone Group (BX) at $22.50 per share), HALO +2.1% (Roche’s (RHHBY) Commercial Launch Of MabThera SC Triggers $5 mln Milestone Payment To HALO), HERO+1.5% (Director disclosed purchase of 20000 shares, worth total of $78.6K).

Analyst commentsINFI +5% (initiated with a Overweight at Morgan Stanley), ZU +4.6% (upgraded to Buy from Neutral at Goldman), FL +2.2% (initiated with a Buy at Buckingham Research), WWWW +2.2% (postive mention at RBC), RH +1.8% (upgraded to Buy from Neutral at BofA/Merrill), WFM +1.2% (initiated with a Overweight at Morgan Stanley), MEG +1.2% (initiated with a Outperform at Wedbush), WAG +0.6% (upgraded to Buy from Hold at Jefferies), PII +0.6% (initiated with an Overweight at a boutique firm), RDS.A+0.5% (upgraded to Overweight from Equal-Weight at Morgan Stanley)

Gapping down
In reaction to disappointing earnings/guidanceTISI -7.3%, LNN -6%, VMI -4.8%, GIS -2.5%, APOG-2.3%.

Select oil/gas related names showing early weaknessVLO -3.1%, HFC -3.1%, MPC -2.9%, PSX-2.2%, TSO -1.8%, STO -1.7%, WNR -1.5%.

Other newsNURO -15.2% (announced $8 mln preferred stock placement), ATNM -12% (announces proposed public offering of common shares), CVRR -6.6% (announced launch of public offering of 6 mln common units representing limited partner interests), FIO -2.6% (cont M&A speculation), ESI -2.4% (co disclosed it will need to restate certain unaudited financial statements due to decision to consolidate the financial results of the PEAKS Trust), GLNG -1.8% (files mixed securities shelf offering; announced the commencement of registered offering of 11,000,000 shares of common stock), GLNG -1.8% (announced commencement of registered offering of 11,000,000 shares of common stock), GLNG -1.8% (prices 11 mln shares of common stock at $54 per share), CCL -1% (cont weakness after yesterday’s earnings release).

Analyst commentsSDRL -3% (downgraded to Sell from Hold at Danske Bank), IMGN -2.1% (initiated with a Underweight at Morgan Stanley), PBR -1.7% (downgraded to Equal-Weight from Overweight at Morgan Stanley), HOG -1.5% (downgraded to Hold from Buy at KeyBanc Capital Mkts), COH -1.4% (downgraded to Underperform from Neutral at BofA/Merrill), CTRP -0.9% (downgraded to Outperform from Strong Buy at Raymond James).

 

Trading Ideas NYSE & NASDAQ:

  • CVRR – short below premarket low
  • HFC – short below premarket low
  • MDCI – short below 13.50
  • BKS – short below 22.00, long above 23.00