NYSE Analytics: July 18, 2014

Spyder ETF grows before NYSE opening bell. 

SPY (intraday chart) uptrend on premarket. Support 196.00, resistance 196.50.

Premarket

Gapping up/down: SWKS +9% and ERIC +8% after earnings, GTIV +10% on merger related news; NQ -17% after engaging auditor, NUS -4% following downgrade.

Gapping up
In reaction to strong earnings/guidance
SWKS +8.9%, ERIC +7.6%, RECN +3.6%, WAL +2.8%,GOOG +2.5%, CE +2.4%, FHN +1.5%, MATW +1.1%, 
IPG +1.1%, GE +0.8%, LH +0.8%, GRT+0.7%.

M&A newsGTIV +10.9% (Gentiva Health Svcs Board of Directors unanimously rejects Kindred’s amended partial tender offer; Announces receipt of alternative proposal at $17.25 per share).

Other newsUSU +7.5% (light volume following 22%+ move higher yesterday), ALU +5.4% (related to ERIC earnings), PBR +4% (extending yesterday afternoon’s move higher), PRAN +2.8% (provides update on its clinical development program for Alzheimer’s disease; confirmed the top line finding that there is a very promising trend towards the preservation of brain volume (as measured by MRI) in PBT2 treated patients compared to placebo patients), RFMD +2.6% (following SWKS results), NOK +2.6% (related to ERIC earnings), AZN +1.3% (may be attributed to SHPG/ABBV deal announced), SWC +1.2% (reported production of palladium and platinum from the Company’s Montana mine operations totaled 126,400 ounces in Q2 compared with total mine production of 131,500 in the same period of 2013), TOT +1.1% (recent strength in oil), ABG +1% (increased total share repurchase authorization to $100 mln), AMZN +0.6% (introduces Kindle Unlimited which offers unlimited reading and listening on any device for $9.99 a month),SYY +0.5% (settled with the State of California all claims related to its past use of drop sites in the state for $19.4 mln), AAPL +0.5% (iPhone 6 to start mass production this month, according to reports), .

Analyst commentsBX +2.4% (target raised to $41 at RBC Capital Mkts), AMH +1.1% (upgraded to Strong Buy from Outperform at Raymond James), KONA +0.9% (initiated with a Outperform at Wedbush),ANDE +0.7% (upgraded to Buy from Hold at BB&T Capital Mkts)

Gapping down
In reaction to disappointing earnings/guidanceRP -23.9%, AMD -17.1%, CPHD -6.9%, ZHNE-3.3%, ROG -3%, BGS -2.7%, BK -1.1%, IBM -1%, VFC -1%, ALV -0.9%, STX -0.8%, SLB-0.6%.

M&A newsABBV -1.5% (Shire plc and Abbvie (ABBV) announced that they have reached agreement on the terms of a recommended combination of Shire with AbbVie), SHPG.

Select metals/mining stocks trading lowerAU -1.1%, ABX -1.1%, ABX -1.1%, NEM -1%, SLV-0.9%, GLD -0.8%, RIO -0.6%, MT -0.6%.

Other newsNQ -17.7% (engages Marcum Bernstein & Pinchuk as its independent auditor), TGP -4.8% (files mixed securities shelf offering; announces public offering of 2.8 mln common units, which represent limited partner interests), PT -3.7% (pull back following recent strength), FNMA -2.2% (increased yields on risk sharing products, according to reports ), FDX -0.8% (disclosed and confirmed requests for info from DoJ in connection with investigation relating to transportation of packages for online pharmacies), WDC-0.7% (following STX earnings), WAG -0.7% (Pension adviser wants probe of WAG offshore moving meeting talks, according to reports), HPQ -0.4% (announces Meg Whitman, HP president and chief executive officer, has been appointed chairman of the board of directors).

Analyst commentsNUS -3.8% (downgraded to Underperform from Neutral at BofA/Merrill), SQM-1.5% (downgraded to Neutral from Overweight at JP Morgan), MAT -1.4% (downgraded to Hold from Buy at Needham), DNKN -1.1% (downgraded to Neutral from Buy at Janney), ORLY -1.1% (downgraded to Hold from Buy at Stifel), APC -0.8% (downgraded to Mkt Perform from Outperform at Bernstein), AZO -0.6% (downgraded to Hold from Buy at Stifel).

 

Trading Ideas NYSE & NASDAQ:

  • GTIV – short below 17.00, long above 17.50
  • SWKS – long above premarket high
  • ABBV – short below premarket low
  • RP – long above 17.00, short below 16.00
  • NUS – short below premarket low