NYSE Analytics: July 9, 2014

Spyder ETF grows before NYSE opening bell. 

SPY (intraday chart) uptrend on premarket. Support 196.50, resistance 197.00.

Premarket

Gapping up/down: AA +3% after earnings, Air carriers showing early strength, JD +3% after upgrade; MSM -3% after earnings, POT -2% and COH -1% after dg’s.

Gapping up
In reaction to strong earnings/guidanceAVAV +4.3%, AA +2.7%, SYRG +1.4%, GTIV +1.1%.

M&A newsRAI +1.9% (IFA Mag report discusses potential British American Tobacco (BTI) buyout).

Select Air carrier related names showing strength after strong AAL op guidanceUAL +2.6%, ALK+2.6%, DAL +2.5%, LUV +2.4%, JBLU +2%.

Other newsLXRX +12.1% ( announced that JDRF will provide funding to support a Phase 2 clinical trial to evaluate the efficacy and safety of LX4211), USU +7.8% (cont vol), ARWR +7.2% (following CNBC Fast Money commentary), CAMT +6.1% (extending Monday’s move higher), AAL +5.3% (June RPM +1%; sees Q2 PRASM +5.5-6.5%, adj. pre-tax margin ~12-13%), SDRL +4.7% (cancels contemplated convertible bond issuance and voluntary incentive payment offer ), TXMD +4.6% (following 32%+ move higher yesterday), RVLT +4.6% (still checking), KNDI +3.4% (name may be getting boost from FT story indicating Japan carmaker fuel cell growth), LJPC +2.7% (announces planned initiation of Phase 3 Registration Program for LJPC-501 in resistant hypotension), GWPH +2.3% (still checking), BLUE +2.1% (prices 3 mln shares of common stock at $34.00 per share), TSL +2.1% (announces supply of 200MW PV modules to Zonergy), NQ +1.9% (NQ Mobile responds to Muddy Waters’ report; says independent investigation ‘did not find any evidence that the Company had engaged in the fraudulent conduct alleged by Muddy Waters’), AMX +1.3% (confirmed that it resolved to authorize measures to reduce its national market share), BA +1.1% (Co and Emirates finalize order for 150 777Xs).

Analyst commentsJD +3.3% (initiated with a Outperform at Oppenheimer), AINV +1.6% (upgraded to Buy from Neutral at Sun Trust Rbsn Humphrey), KKR +1.6% (upgraded to Outperform from Neutral at Credit Suisse), BIIB +1.4% (target raised to $375 at RBC Capital Mkts ), HFC +1.2% (upgraded to Outperform from Market Perform at Wells Fargo), DB +1.1% (upgraded to Overweight from Neutral at JP Morgan), BRCM +1% (upgraded to Outperform from Perform at Oppenheimer), SLB +0.7% (upgraded to Overweight from Neutral at HSBC Securities), FFIV +0.6% (initiated with a Buy at DA Davidson)

Gapping down
In reaction to disappointing earnings/guidanceGIMO -31.5%, TCS -14.3%, SIMG -10%, MSM-3.6%, BOBE -1.2%, IMOS -0.9%.

Other newsPT -6.1% (reports of debt deal scrutiny), SLXP -4.2% (to combine with Cosmo Technologies; upon completion of the merger, shareholders of Salix are expected to own slightly less than 80% of the ordinary shares of the new company), RARE -2.6% (Pharma prices 2,017,349 shares of common stock at $40.00 per share), NURO -2.6% (pulling back after strengh yesterday), CELG -2.1% (Phase III POSTURE study did not achieve primary endpoint), RAX -1.4% (following late move higher on increased volume), LOGM -1.3% ( attributed to cautious Off Wall Street report), CLUB -0.8% (disclosed an amendment to property sale agreement to permit Purchaser additional time to complete its financing).

Analyst commentsPOT -2.7% (downgraded to Neutral from Overweight at JP Morgan), MRVL -2.7% (downgraded to Underperform from Perform at Oppenheimer), GRMN -2% (downgraded to Underperform from Sector Perform at Pacific Crest), ALV -1.7% (downgraded to Hold at Nordea), VMW -1.3% (downgraded to Market Perform from Outperform at Wells Fargo), COH -1.2% (downgraded to Underperform from Neutral at Buckingham Research), LPX -1% (downgraded to Sector Perform at RBC Capital Mkts), PCL -0.8% (downgraded to Sector Perform at RBC Capital Mkts).

 

Trading Ideas NYSE & NASDAQ:

  • GIMO – long above 13.00, short below 12.00
  • TCS – long above 24.00, short below 23.00
  • MRVL – short below premarket high
  • CELG -long above 85.00, short below 84.00