NYSE Analytics 06/30

Spyder ETF drops before NYSE opening bell. 

SPY (intraday chart) flat on premarket. Support 195.25, resistance 196.00.

Premarket

Gapping up/down: THS +5%, PPG +3% and CNSL +2% on M&A related news, MNKD +12% on FDA approval of AFREZZA; GWPH +5% on target raise, YHOO +1% on upgrade; EU banks and metal/miners starting lower; MBI -5% on dg.

Gapping up
M&A newsTHS +5.1% (to acquire Flagstone Foods for $860 mln), PPG +2.9% (reaches agreement to acquire Comex; transaction is valued at $2.3), PHG +2.7% (announced that it will start the process to combine its Lumileds and Automotive lighting businesses into a stand-alone company within the Philips Group; will explore strategic options to attract capital from third party investors for this business), CNSL +2.2% (co and Enventis (ENVE, formerly HTCO) to merge).

Other newsDRNA +13.5% (researchers demonstrate promise of Dicerna investigational therapy in preclinical model of primary Hyperoxaluria Type 1), MNKD +11.9% (announces FDA approval of AFREZZA for the treatment of Diabetes), FLML +7.4% (announces FDA approval of VAZCULEP), GRH+6.4% (announces multiple pipeline project in Pennsylvania and West Virginia; total capacity of 270,000 barrels per day), SREV +6.2% (Altai Capital Management discloses 9.9% active stake in 13D filing), CHCI+5.2% (enters into option agreement allowing repurchase of shares held by former Chief Operating Office),LBMH +5.1% (still checking), GPRO +4.7% (cont vol following IPO last week), ALIM +4.2% (Iluvien receives positive outcome of repeat-use procedure for 10 additional European countries), IDTI +3.7% (positive comments by Jon Najarian on Friday), EVAR +3.6% (initiated with a Outperform at Credit Suisse),AUO +2.5% (still checking), NTAP +2.3% (positive Barron’s mention), IP +2.2% (positive Barrons mention), KPTI +1.5% (underwriters of its previously announced public offering of common stock have exercised their option to purchase an additional 397,087 shares of its common stock at a price of $42.50/share before underwriting discounts), MPEL +1.4% (Gambling insurance in China is now prohibited, according to reports), AMPE +1.1% (initiates study of multiple injections of Ampion into the knees of patients with oa of the knee to assess its healing and cartilage regeneration effects), .

Analyst commentsGWPH +5.1% (target raised to $147 from $97 at Piper Jaffray), AMED +2.7% (upgraded to Hold from Sell at Deutsche Bank), MILL +2% (upgraded to Buy from Neutral at Sun Trust Rbsn Humphrey), UTEK +2% (upgraded to Buy at Noble Financial), YHOO +1.3% (upgraded to Overweight from Neutral at Piper Jaffray), KLAC +1.1% (upgraded to Buy from Neutral at B. Riley & Co),WTSL +1.1% (upgraded to Neutral from Sell at B. Riley & Co), FINL +1% (target raised to $35 from $33 at Monness Crespi & Hardt), MU +1% (added to Focus List at Credit Suisse)

Gapping down
Select EU financial related names showing weaknessDB -1.3%, LYG -1.2%, ING -1.1%, BCS-1.1%, BBVA -1.1%

Select metals/mining stocks trading lowerX -1.7%, BHP -1.6%, HL -1.5%, IAG -1%, SLV -1%,GDX -0.7%.

Other newsAPP -10.3% (adopts stockholder rights plan), CTHR -2.7% (announces closing of a new three-year $10 mln secured credit facility), VE -2.6% (still checking), WLT -2.6% (S&P lowered Walter Energy rating to ‘CCC+’ From ‘B-‘ On Unsustainable Debt, Outlook Negative; Debt Ratings Lowered), EGLE -2.6% (disclosed Waiver and Forbearance Agreement update), PT -2.4% (reported clarifications regarding treasury investments), ALU -1.7% (still checking), GLCH -1.2% (delist from NASDAQ).

Analyst commentsMBI -4.9% (downgraded to Neutral from Buy at BTIG Research), TLYS -1.7% (downgraded to Neutral from Buy at B. Riley & Co), SYT -1.6% (downgraded to Underweight from Neutral at JP Morgan), WFC -0.6% (downgraded to Underperform from Neutral at Macquarie).

 

Trading Ideas NYSE & NASDAQ:

  • DRNA – long above premarket high
  • MNKD – long above 11.50
  • YHOO – long above 35.00