NYSE Analytics 06/26

Spyder ETF drops before NYSE opening bell. 

SPY (intraday chart) flat on premarket. Support 195.25, resistance 195.75.


Gapping up/down: WGO +5% and LEN +1% after earnings, AUXL +17%, CJES +10%, and AA +5% on M&A deals, ZU +3% on upgrade; BBBY -7% and PM -2% on earnings/guidance; EU banks and miners trading lower, XRX -1.6% after dg.

Gapping up
In reaction to strong earnings/guidance:
EXFO +20.1%, WGO +4.8%, CAG +1.5%, BIG +1.4%, WOR+1.4%, ACN +1.1%, LEN +1%.

M&A newsAUXL +17.4% (QLT Inc and Auxilium Pharmaceuticals (AUXL) to merge), CJES +10.6% (entered into agreement to merge with Nabors Industries’ (NBR) completion and production business in transaction valued at $2.86 bln), NBR +10.1% (confirmed agreement to combine its completion and production services business with C&J Energy Services (CJES)), AA +5.2% (confirms agreement to Acquire Firth Rixson to Grow Global Aerospace Portfolio for $2.35 bln in cash), .

Select oil/gas related names showing strength
GLNG +1%, PXD +0.8%, WNR +0.7%, PSX +0.7%,GLOG +0.4%, UNG +0.4%, EPD +0.4%.

Other newsUNXL +23.1% (achieves roll-to-roll pilot production of InTouch Sensors), IRM +21.6% (reports Favorable Private Letter Rulings Received from Internal Revenue Service; Iron Mountain expects its full-year 2014 annual distribution as a REIT to be $400 to $420 million), DRWI +16% (still checking), AGEN+14.9% (vaccine shows significant reduction in viral burden after HerpV generated immune activation), ROYL+11.3% (announced results of independent review of the prospective resource potential of two recently identified North Slope Alaska drilling targets), GLUU +4.9% (announces support for Google’s (GOOG) Android TV and new game services), ICLD +4.9% (announces $3.95 mln managed services contract), ONVO+3.8% (still checking), BIIB +3.3% (light volume, following AUXL / QLTI merger news), EQIX +2.9% (on IRM REIT news), CLF +1.3% (issues letter to shareholders; says ‘Casablanca’s Short-term Agenda is Value Destructive in Current Pricing Environment’), MDT +1.2% (announced study results showing that continuous cardiac monitoring with the Reveal XT Insertable Cardiac Monitor was superior to standard of care).

Analyst commentsZU +3.6% (upgraded to Outperform from Sector Perform at RBC Capital Mkts), FMS+2.7% (upgraded to Outperform from Neutral at Credit Suisse), PRXL +2.6% (upgraded to Outperform from Neutral at Robert W. Baird and upgraded to Outperform from Neutral at William Blair), HRC +2.1% (upgraded to Buy from Neutral at Goldman), HBIO +1.9% (initiated with a Buy at Janney), NUVA +1.8% (upgraded to Buy from Neutral at Goldman), TTWO +1.8% (upgraded to Buy from Hold at The Benchmark Company), BLMN +1.6% (initated with a Buy at Longbow), TWTR +1.4% (initiated with an Overweight at Barclays), FSC +1.1% (initiated with a Buy at Sun Trust Rbsn Humphrey), FB +0.9% (initiated with an Overweight at Barclays)

Gapping down
In reaction to disappointing earnings/guidanceCIDM -24.1%, SCS -8.3%, BBBY -7.7%, MLHR-5.8%, CACI -4.6%, FUL -3.5%, PM -2.4%.

M&A newsRDEN -8.9% (reports that LG is no longer interested in the company).

Select EU financial related names showing weaknessBCS -4.8% (confirms fraud charges against Barclays in connection with marketing and operation of its dark pool), CS -2.9%, DB -2.8%, ING -1.9%,HSBC -1%.

Select metals/mining stocks trading lowerHL -1.8%, GG -1.7%, IAG -1.5%, HMY -1.4%, SLW-1.2%, GOLD -1.1%, GDX -0.8%, NEM -0.8%, SLV -0.4%.

Other newsKPTI -2.3% (announces proposed public offering of 2.2 mln shares of common stock; consist of 2,000,000 shares to be offered by Karyopharm and 200,000 shares to be offered by existing stockholders),BRX -1.6% (prices 29,950,000 shares of common stock at $22.50 per share), STM -1.5% (announces a $1 bln dual-tranche offering of Convertible Bonds and the launch of a share buy-back program), MRD -1% (priced private placement to eligible purchasers of $600 mln in aggregate principal amount of 5.875% senior unsecured notes due 2022 at par).

Analyst commentsXRX -1.6% (downgraded at Argus), EL -0.7% (downgraded to Neutral from Buy at B. Riley & Co), NFLX -0.6% (initiated with a Underweight at Barclays), UAL -0.5% (downgraded to In-line from Outperform at Imperial Capital).


Trading Ideas NYSE & NASDAQ:

  • IRM – short below 36.00
  • AUXL – long above 25.00
  • LVS – long above premarket high
  • NBR – short below 30