Gapping Down
In reaction to disappointing earnings/guidance: SCA -37.5%, SONS -18.9% (also downgraded to Hold at Cantor Fitzgerald), ZOLT -13.8% (also downgraded to Neutral from Buy at Jesup & Lamont and downgraded to Sell from Buy at Signal Hill), TRAK -10.7% (also downgraded to Neutral at JPMorgan), HBIO -8.5%, CRXL -4.4%, MDR -4.3%, MBLX -4.1% (light volume), NUAN -1.3%…
M&A news: MIDD -6.3% (to acquire OVEN for $200 mln in cash and stock)…
Select financials showing modest weakness: WB -2.8%, MS -2.6% (to repurchase auction rate securities ; also Moody’s downgrades Morgan Stanley to A1, stable), MER -2.0%, JPM -1.9% (loses $1.5 bln since July - Reuters), BAC -1.5%, C -1.2%, LEH -1.0%…
Other news: ALTU -29.1% (announces achievement of primary endpoint in phase 3 efficacy trial of Trizytek; patients from 3 out of 6 non-U.S. countries did not appear to show a difference between Trizytek and placebo groups; also downgraded to Neutral at Cowen), CMED -4.9% (announces concurrent offerings of $150 mln of Convertible Senior Notes and purchased ADSs pursuant to ADS issuance and repurchase agreements), AW -4.8% (comments on Waste Management’s latest unsolicited offer for Republic Services; says ‘fails to address fully massive antitrust issues and financing’), SNP -4.6% (still checking), INFY -4.0% (still checking), CHL -3.6% (shares fall on share-price estimate cut - Bloomberg.com), ZNH -2.9% (China airlines fall on pessimism on traffic - Bloomberg.com), VTR -2.6% (enters agreement to sell 4.4 mln shares of common stock)…
Analyst comments: MDVN -4.4% (downgraded to Sector Perform at RBC), ANN -4.0% (downgraded to Sell at Citigroup), UTHR -3.0% (initiated with Sell at Piper), GS -2.4% (downgraded to Hold at Deutsche Bank), PRXL -2.3% (downgraded to Hold at Jefferies), IBKC -2.2% (downgraded to Hold from Buy at Sterne Agee), UDR -2.0% (downgraded to Sell at BofA), TYC -2.0% (downgraded to Neutral at JPMorgan), WYNN -1.8% (downgraded to Neutral at JPMorgan), ITT -1.5% (downgraded to Underweight at JPMorgan), HWCC -1.2% (downgraded to Neutral at Piper), MCD -1.1% (downgraded to Neutral at UBS).
Gapping Up
In reaction to strong earnings/guidance: SPPI +21.5%, LDK +19.1% (upgraded to Neutral at Piper), AIRT +17.9%, VSE +13.8%, AMCN +12.2%, INTX +10.3% (light volume), CSY +7.4% (light volume), FUQI +5.6% (light volume), FLR +5.3%, TWTC +2.7%, FOSL +1.3%…
M&A news: UB +10.0% (Mitsubishi UFJ Financial Group and Bank of Tokyo-Mitsubishi UFJ to offer to acquire all publicly held shares of UnionBanCal for $63/share in cash), OVEN +7.3% (to be acquired by The Middleby Corp for $200 mln in cash and stock, with implied value of ~$6.47/share)…
Select solar stocks showing strength following LDK results: SOLR +12.9%, CSIQ +9.7%, STP +8.4%, TSL +7.9%, CSUN +7.0%, SOLF +6.2%, SOL +5.4%, YGE +4.5%, ESLR +2.1%, FSLR +1.6%…
Select European financials showing strength with UBS reporting: RBS +1.7% (Royal Bank of Scotland, Santander, Fortis sell ABN unit to Goldman Group, according to source - DJ), ING +1.6%, BCS +1.1%…
Other news: GA +5.9% (announces $150 mln share repurchase program), ALU +2.9% (still checking), GILD +1.7% ( announces that the U.S. Food and Drug Administration approves Viread for chronic bepatitis B in adults), CSC +1.6% (wins U.S. Air Force contract to provide maintenance support worldwide)…
Analyst comments: LCC +7.3%, NWA +6.6%, DAL +5.4%, CAL +4.8% and AMR +3.8% (all upgraded to Overweight at JPMorgan); COG +1.1% (upgraded to Buy at BofA).
If you found this article interesting please subscribe for updates with any reader or your email. This site is not monetized and 100 percent free. My only form of payment is my readers comments and subscriptions.
