Gapping Down
In reaction to disappointing earnings/guidance/same store sales: MCGC -28.0%, DITC -18.9%, KG -16.7%, STV -16.3%, VRSN -14.4% (also downgraded to Perform at Oppenheimer), MEND -11.4%, BBI -9.1%, AIG -7.7% (also downgraded to Market Perform at FBR), MSSR -7.6%, CTRN -7.5% (also downgraded to Neutral at Piper), IMAX -7.3%, CECO -7.3%, AEG -7.1%, ALNY -6.2%, MLM -5.8%, SVNT -4.4%, AEO -4.0%, ALG -3.8% (light volume), HOTT -3.8% (also downgraded to Neutral at Piper), PLCE -3.8%, CAH -3.7%, DYN -3.2%, WMT -2.9%, TGT -2.1%, FRZ -2.0% (also WSJ reports Collusion inquiry targets ice companies), CPHL -2.0% (also downgraded to Neutral at Piper Jaffray), SUNH -1.3%… Select airline/cruise-related names showing weakness with crude higher: AMR -12.4%, NWA -6.8%, LCC -6.6%, CEA -5.7%, JBLU -5.5%, CAL -5.0%, UAUA -5.0%, CCL -2.1%, RCL -1.7%,… Select financial names trading modestly lower: LEH -3.2%, COF -2.9%, WB -2.9%, WM -2.6%, MER -2.5%, MS -2.3%, C -2.2%, WFC -2.0%, BAC -1.9%, JPM -1.8%, ING -1.2%, HBC -1.1% (denies new deadline for $6.3 billion KEB deal - Reuters.com)… Other news: SMI -6.5% (shares fall on concern competition may increase - Bloomberg.com), ACOR -6.4% (prices a 4 mln share common stock offering at $28.50/share), INCY -4.9% (announces the closing of its public offering of 12,075,000 shares at a price of $9.00 per share), MEE -1.4% (agrees to sell 3.8 mln shares of its common stock at a public offering price of $61.50 per share), BIDU -1.4% and GOOG -1.0% (still checking)… Analyst comments: LL -2.7% (downgraded to Neutral at BofA), EW -2.4% (downgraded to Underweight at JPMorgan), DPL -2.2% (downgraded to Underperform at Merrill), SIVB -1.6% (downgraded to Market Perform at Keefe Bruyette), PKX -1.3% (downgraded to Equal Weight at Morgan Stanley), EIX -1.1% (downgraded to Underperform at Merrill).
Gapping Up
In reaction to strong earnings/guidance/same store sales: ENG +11.6%, NFS +10.7% (also Nationwide Mutual Insurance Co and Nationwide Financial Services reach agreement to combine in $2.4 bln transaction), CAR +9.3%, GIVN +8.6%, LMIA +8.0% (light volume), DCGN +7.7% (light volume), COGO +7.4%, AXA +6.5% (light volume), EGLE +6.1%, TMTA +5.7%, URS +5.2%, VRNM +5.1%, PRXL +5.1%, XIDE +4.8%, JCP +4.8%, AAP +4.7%, BAGL +4.3%, SUN +4.0%, HAYN +3.7%, CBEY +3.2% (also upgraded to Buy at Merriman and upgraded to Overweight at JPMorgan), BCS +2.6%, RIO +1.9%, XRM +1.9% (light volume), SINA +1.5%… Select European financials trading higher following BCS and AXA qtr results: UBS +4.2%, LYG +3.5%, DB +2.7%… Other news: SYNM +10.5% (still checking), VE +6.2% (soars on plan to cut costs, sell assets - Bloomberg.com), KBR +4.1% (announces a repurchase program of up to 5% of its outstanding common stock; declares $0.05 quarterly cash dividend), RAME +4.0% (still checking), RTP +1.6% and BP +1.3% (still checking)… Analyst comments: STO +3.2% (hearing upgraded to Overweight at HSBC), GNA +2.7% (upgraded to Buy at KeyBanc), RIG +1.6% (upgraded to Buy at Stifel Nicolaus), WATG +1.4% (upgraded to Buy at Merriman), FTI +1.0% (upgraded to Add from Neutral at Capital One Southcoast).
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