NYSE Analytics: July 11, 2014

Spyder ETF grows before NYSE opening bell. 

SPY (intraday chart) flat on premarket. Support 196.25, resistance 196.80.

Premarket

Gapping up/down: CUDA +3% after earnings, LO +5% and RAI +2% on merger news, GLGC +2% on upgrade; PSMT -4% and WFC -0.7% after earnings, FINL -2% and EAT -1% after dgs.

Gapping up
In reaction to strong earnings/guidanceJOEZ +25.2%, CUDA +3.2%, CERE +2.9%, INFY +1%,ZEP +0.4%, .

M&A newsNCBC +21.1% (co and Select Bank receive regulatory approvals for merger), LO +4.7% (confirms discussions regarding potential acquisition by Reynolds American), TLP +2.6% (NGL Energy Partners (NGL) announces offer to acquire outstanding units of TransMontaigne Partners), RAI+1.7%, ABBV +0.4% (sharholders urging merger talks with Shire (SHPG), according to report), .

Other newsDGLY +11.8% (cont strength), ICLD +7.1% (announces update on network solution sales),NBY +7% (send letter to shareholders), DF +3.9% (positive mention on Mad Money), KEYW +3.1% (KEYW Holding subsidiaries and Oracle (ORCL) collaborate on advanced security solutions), PT +3.1% (modestly rebounding, down 7% yest), AMZN +1.9% (seeks FAA approval for drone delivery), GTAT+1.4% (positive mention on Mad Money), PESI +1.2% (awarded remedial action contract for up to $8 mln).

Analyst commentsQLGC +2.2% (upgraded to Equal-Weight from Underweight at Morgan Stanley),ITG +1.1% (upgraded to Outperform from Mkt Perform at Keefe Bruyette), MPC +1.1% (upgraded to Buy from Neutral at Citigroup), TWTR +1.1% (hearing incrementally positive comments at two tier 1 firms), NG +0.7% (resumed with a Neutral from Overweight at JP Morgan), RDS.A +0.7% (upgraded to Overweight from Neutral at JP Morgan), PTEN +0.6% (target raised to $44 at RBC Capital Mkt)

Gapping down
In reaction to disappointing earnings/guidanceKFX -17.7%, RCII -12.6%, VOXX -9.3%, EOPN-4.6%, PSMT -4.3%, FAST -3%, GPS -1.4%, WFC -0.7%.

Other newsMTG -14.3% ( following FHFA request for input on Draft Private Mortgage Insurer Eligibility Requirements for Fannie Mae and Freddie Mac Counterparties), ARTX -11.7% (announced public offering of common stock, size not disclosed), MTL -11.4% (continued weakness), RDN -7.9% (provided comment on propsed GSE requirements for private mortgage insurer elibilitiy; Radian expects ability to comply within the transition period without a need to raise external capital), ISLE -7% (announced management changes: Position of Executive Chairman eliminated; Robert Goldstein named non-executive Chairman; Eric Hausler named CFO), TMST -5.8% (Relational Investors disclosed 2.99% active stake in 13D filing), VRSN -4.8% (awarded remedial action contract for up to $8 mln), GNW -4.7% (related to GSE requirement news), FSC -3.7% (commenced public offering of 13.25 mln shares of its common stock),MCP -2% (still checking), CTT -1.8% (priced its 12.5 mln share offering at $11.75 per share), QCOR-1.6% ( NYTimes report discusses Acthar adverse effects), TTM -1.5% (still checking), WLB -0.9% (prices 1,464,789 shares of common stock at $35.50 per share ).

Analyst commentsFINL -1.8% (downgraded to Neutral from Buy at Sterne Agee), EAT -1.4% (downgraded to Hold at Wunderlich), QCOM -1.2% (removed from Conviction Buy list at Goldman),RIO -1.1% (may be downgrade at liberum- unconfirmed).

 

Trading Ideas NYSE & NASDAQ:

  • RDN short below premarket low
  • RCII – short below premarket low, long above 26.00
  • LO – short below 65.00