NYSE Analytics: July 16, 2014
NYSE Analytics: July 16, 2014
Spyder ETF grows before NYSE opening bell.
SPY (intraday chart) uptrend on premarket. Support 197.50, resistance 198.25.
Gapping up/down: INTC +5%, TXT +3% and ABT +2% after earnings, ZIPR +118.5% after merger news, FEYE +5% after assumed with a Buy from Neutral at Goldman; YHOO, ASML, and PNC -2% after earnings, ROST -1% after dg.
In reaction to strong earnings/guidance: INTC +4.8%, TXT +3.3%, ABT +2%, BLK +1.3%, USB +1%,CSX +0.5%.
M&A news: ZIPR +118.5% (Realogy announces agreement to acquire ZipRealty for $6.75/share in an all-cash transaction valued at ~$166 mln), TWX +16.9% (FOXA confirms TWX proposal, which TWX rejected; FOXA says ‘We are not currently in any discussions with Time Warner’), IGT +9.4% (enters into definitive merger agreement with GTECH S.p.A. (GTKYY)), ICAD +5.2% (acquired DermEbx and Radion to provide skin cancer treatment solution to the dermatology market; expected to be immediately accretive to revs and operating cash flow), FOXA +0.6% ( confirms TWX proposal, which TWX rejected; FOXA says ‘We are not currently in any discussions with Time Warner’), .
Other news: OIBR +17.6% (signed MOU with Portugal Telecom (PT) in relation to financial investments in Rio Forte Investments S.A. commercial paper), CNCE +8.3% (announces FDA lifts partial clinical hold for CTP-354, a novel drug candidate for spasticity), PDS +4.5% (announces strategic technology and service agreement & marketing alliance with Schlumberger (SLB)), GLW +4.3% (Potential catalysts: BGR report out yesterday afternoon highlighted Gorilla Glass vs Sapphire), PT +3.9% (signed MOU with OIBR) in relation to financial investments in Rio Forte Investments S.A. commercial paper), STM +3.8% (following INTC earnings),BLRX +3.4% (announces results from phase 1/2 study for Celiac treatment), GPRO +3.1% (seeing continued strength), CY +2.8% (following INTC results), ARNA +2.4% (issued patent for APD371 by USPTO), SUNE+2.4% (trading higher ahead of TerraForm Power (TERP) IPO), AAPL +2.2% (Apple and IBM announce exclusive partnership to transform enterprise mobility through a new class of business apps ), AMD +2.2% (following INTC earnings), IBM +2% (Apple and IBM announce exclusive partnership to transform enterprise mobility through a new class of business apps ), JKS +2% (signs RMB1 bln strategic financing agreement with China Minsheng Bank), RIO +1.9% (reports record first half iron ore shipments), ISIS +1.8% (earns $1 million from GlaxoSmithKline for advancing ISIS-TTR Rx), MT +1.7% (bte China GDP), CBS +1.7% (open to licensing agreement with Aereo, according to reports), KNDI +1.7% (seeing continued strength), SIRI +1.5% (announces additional $2 billion common stock repurchase program).
Analyst comments: TNDM +12.1% (initiated with an Outperform at William Blair), FEYE +5.1% (assumed with a Buy from Neutral at Goldman), MLNX +3.9% (upgraded to Buy from Hold at Jefferies), PANW +3.3% (assumed with a Buy at Goldman), ARMH +2.4% (upgraded to Buy from Hold at FinnCap), WDC +2% (upgraded to Outperform at Robert W. Baird ), IM +1.9% (upgraded to Buy from Neutral at BofA/Merrill ),SJW +1.5% (upgraded to Outperform at Robert W. Baird), SYT +1.1% (upgraded to Outperform from Neutral at Credit Suisse), AAL +0.7% (initiated with a Overweight at Atlantic Equities)
In reaction to disappointing earnings/guidance:
ININ -22%, MTG -3.8%, TSM -3.4%, IBKR -2.8%,YHOO -2.7%, ASML -2.3%, PNC -2%, AIR -1.5%, PNFP -1.4%,
BAC -0.7%, HSY -0.5%, NTRS-0.4%.
M&A news: SHPG -0.8% (cont vol on M&A spec), AOL -0.6% (Yahoo (YHOO) not interested in acquiring AOL, M&A head says, according to reports).
Other news: BIOA -15.5% (announces public offering of 2.8 mln shares of common stock), POZN -6.8% (announces FDA acceptance of refiling of new drug application for PA8140/PA32540 tablets), BBRY -4.9% ( following AAPL / IBM news ), IRT -3.1% (upsizes and prices 7 mln shares of common stock at $9.50 per share), ITI -3% (reported resignation of CFO Chuck McBride, names Craig Christensen interim CFO; co continuing to work with auditors to complete FY14 audit), ARCC -2.9% (announces public offering of 11.85 mln shares of its common stock), BCEI -1.8% (prices $300 mln of 5.75% senior unsecured notes due 2023),RIOM -1.7% (repaid $3 mln plus accrued interest of $584K owing on the Operating Loan on July 11, 2014),IPXL -0.9% (announced it received a subpoena from Conneticuit AG regarding its generic product digoxin).
Analyst comments: NSM -2.2% (downgraded to Underperform from Market Perform at Wells Fargo),IMAX -1.9% (downgraded to Neutral from Overweight at Piper Jaffray ), POT -1.5% (downgraded to Hold from Buy at TD Securities), ROST -0.8% (downgraded to Neutral from Buy at Sterne Agee), KORS -0.7% (downgraded to Mkt Perform from Outperform at William Blair), MCD -0.6% (hearing target/estimates lowered at Janney).
Trading Ideas NYSE & NASDAQ:
- ININ – long above 40.00
- KORS – short below premarket low