NYSE Analytics: July 15, 2014

Spyder ETF grows before NYSE opening bell. 

SPY (intraday chart) uptrend on premarket. Support 197.50, resistance 198.00.

Premarket

Gapping up/down: CMA +8%, JPM +3% and GS +2% after earnings, financials trading higher in sympathy, CDXS +88% after announcing lic agreement with GSK, PLUG +13% after initiation; VLO -3% after earnings/guidance, LO -6% and RAI -3% after confirming merger.

Gapping up
In reaction to strong earnings/guidance
CMA +7.8%, WWW +4.3%, JPM +2.6%, PPHM +2.3%,GS +1.8%, SABA +0.8%.

Select financial related names showing strength
IBN +2.8%, RBS +2.2%, DB +2%, MS +1.7%,BCS +1.6%, BAC +1.3%, C +0.9%.

Select metals/mining stocks trading higherSQM +5.5%, ZQK +2.6%, AUY +1.3%, GOLD +1.1%,GOLD +1.1%.

Other newsCDXS +87.9% (announces technology collaboration and license agreement with GSK), LJPC+11.5% (announces positive pre-clinical data for oral galectin-3 inhibitor in nonalcoholic steatohepatitis),CBMX +10.9% (Pediatric Development disorders analysis test granted conditional approval from New York State Department of Health), ANTH +5.9% (following acquisition of therapy Sollpura from Eli Lilly (LLY)), FCEL +5.1% (may be attributed to PLUG initiation at FBR), GRH +4.4% (following yesterday’s ~30% move higher), LGF +3.7% (co and Alibaba (BABA) form strategic collaboration to offer Lionsgate Entertainment World Service in China), YGE +2.4% (signs a EPC contract with Senelec for a 2 MW project), APC +1.3% (provided a financial update, including the establishment of a new unsecured five-year credit facility, the issuance of senior notes, and the sale of Western Gas Equity Partners (WGP) common units), SAVE +0.8% (Lone Pine Capital discloses 6.0% passive stake in 13G filing).

Analyst commentsPLUG +13.6% (initiated with a Outperform at FBR Capital), GPRO +4.6% (initiated with a Mkt Outperform at JMP Securities), GLUU +3.4% (target raised to $9 from $7.50 at Northland Capital), PHH +1.5% (upgraded to Outperform at Oppenheimer), WDC +0.8% (initiated with a Positive at Susquehanna), SSRI +0.8% (upgraded to Outperform from Mkt Perform at BMO Capital Mkts)

Gapping down
In reaction to disappointing earnings/guidanceVLO -3.3%, LEDS -2%.

M&A newsLO -6.4% (to be acquired by Reynolds American (RAI) in a cash-and-stock transaction currently valued at $68.88 per LO share, or a total of $27.4 bln, including the assumption of net debt), RAI-3.3% (confirms LO acq), SHPG -1.4% (cont vol on M&A spec).

Other newsOPTT -20.3% (disclosed Victorian Wave Partners, an indirect consolidated subsidiary, intends to terminate the Renewable Energy Demonstration Program Funding Deed),, STEM -6.9% (announces proposed $20 million offering), TRGT -4.5% (late weakness/subsequent halt on alzheimer drug update; Phase 2b clinical trial in Alzheimer’s disease does not show superiority of TC-1735 over donepezil ), ADHD-1.8% (filed for $100 mln offering of ordinary shares), IRT -1.7% ( announces public offering of 6 mln shares of common stock ), BH -1.6% (filed for $85 mln common stock and rights offering), APOL -1.1% (informed by the U.S. Department of Education that the Department intends to conduct an ordinary course program review of University of Phoenix’s administration of federal student financial aid (Title IV) programs).

Analyst commentsKORS -2.4% (Hearing several analysts out cautious this morning — including Citigroup lowering target, Barlcays reits Underweight rating ), CPB -1.9% (downgraded to Sell from Neutral at Goldman), LXK -1% (downgraded to Underperform from Mkt Perform at Bernstein), K -0.9% (downgraded to Sell from Neutral at Goldman), MXIM -0.6% (downgraded to Equal Weight from Overweight at Barclays).

 

Trading Ideas NYSE & NASDAQ:

  • WWW – long above 28.00
  • APOL -long above 30.00
  • KORS – short below premarket low, long above 85.00