NYSE Analytics: July 7, 2014

Spyder ETF drops before NYSE opening bell. 

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

Premarket

Gapping up/down: SIMO +7% after guidance; BDSI +15% following positive top-line results from Phase III trial, KING +4% and AMAT +3% after upgrades; EU banks and miners trading lower, ODFL -1% after dg.

Gapping up
In reaction to strong earnings/guidanceSIMO +7.3%.

Other newsCYTX +16% (receives notice of intent to exercise first contract option from BARDA), BDSI+15% (Co and ENDP announce positive top-line results from the Phase III clinical trial of BEMA buprenorphine in opioid-experienced patients with chronic pain), PAL +10% (announces reduction of senior secured term loan interest rate and extension of credit facility), MNGA +8.4% (announced that the results of the recent Swine Manure Sterilization trials meet Rule 503.32 requirements making swine manure suitable for Class A treatment.), PMFG +4.9% ( awarded new SCR system orders for Asia valued at more than $10 mln), SPPI +4.5% (FDA grants accelerated approval of Beleodaq (belinostat) for injection), RSH +4.2% (still checking), NGD +3.3% (announces 24% increase in new afton C-zone gold measured and indicated mineral resources), SNTA +2% (cont strength), GPRO +1.7% (Cont strength), RLGY +1.7% (positive Barron’s mention), CGEN +1.6% (discloses achievement of milestone in cancer immunotherapy collaboration with Bayer (BAYRY)), WTW +1.6% (positive Barron’s mention), CASI +1.5% (receives U.S. Orphan Drug Designation for the use Of ENMD-2076 to treat hepatocellular carcinoma), CBI +1.4% (Awarded $60 mln Sphere Storage Contract By Petrofac ).

Analyst commentsKING +4.4% (upgraded to Overweight from Neutral at Piper Jaffray), MOBL+3.9% (initiated with a Buy at Goldman among others), SONS +3.8% (initiated with an Outperform at Pacific Crest), UTEK +3.5% (upgraded to at ), BXE +2.8% (positive comments from Northland), AMAT+2.7% (upgraded to Overweight from Neutral at JP Morgan), SEAS +1.7% (upgraded to Outperform from Mkt Perform at BMO Capital Mkts), CENX +1.5% (upgraded to Neutral from Sell at Goldman), SCCO+1.3% (upgraded to Buy from Neutral at BofA/Merrill), NAO +1.1% (initiated with a Outperform at Credit Suisse), VC +1.1% (resumed with a Overweight at JP Morgan), WSM +1% (upgraded to Buy from Neutral at BofA/Merrill)

Gapping down
Select financial related names showing weaknessBBVA -3.1%, SAN -2.5%, LYG -2.4%, NBG-2.3%, ING -1.9%, ING -1.9%, BCS -1.6%, DB -1.4%.

Select metals/mining stocks trading lowerAG -3%, RIO -1.5%, ABX -1.4%, GOLD -1.1%, BHP-0.9%, GDX -0.7%, SLV -0.7%.

Other newsNQ -3.5% (mentioned cautiously in updated Muddy Waters report; thinks NQ set pretext to change auditors), PSTI -2.9% (still checking), MT -2.5% (announces the issuance of EUR600 mln Notes under its EUR3 bln EMTN Program), TSLA -1.1% (reports of stolen Model S crash/fire).

Analyst commentsGTAT -9.2% (downgraded to Neutral from Buy at UBS), JMI -2.5% (downgraded to Sell from Neutral at Citigroup), NSIT -2% (downgraded to Underperform from Mkt Perform at Raymond James), TDW -2% (downgraded to Underweight from Overweight at Morgan Stanley), ODFL-1.3% (downgraded to Hold from Buy at Deutsche Bank), BTU -1% (downgraded to Hold from Buy at Deutsche Bank), HOLX -0.8% (downgraded to Neutral from Buy at BTIG Research).

 

Trading Ideas NYSE & NASDAQ:

  • GTAT – long above 18.00, short below premarket low
  • BDSI – short below 14.00