Gapping Down
In reaction to disappointing earnings/guidance: CACH -11.6% (also downgraded to Hold at Roth)… Select financial related stocks showing weakness: WM -9.6% (Moody’s downgrades WM’s covered bond ratings to Baa1, on review), LYG -8.6%, WB -8.5%, UBS -6.8%, CS -5.1%, RF -3.8% (downgraded to Sell at Citigroup), ING -2.5%, BCS -1.4%… Select metals/mining names showing weakness with lower spot prices: RTP -11.9% (has signalled its intention to move away from traditional long-term contracts and instead increase amount of sales both into the spot market and through so-called hybrid contracts - FT), AAUK -6.6%, GFI -4.6%, BHP -4.5%, DROOY -4.1%, HMY -3.4%, BBL -2.8%, GLD -1.5%… Select drybulk shippers trading lower: EXM -5.0%, DSX -3.1%, DRYS -3.0%, EGLE -2.7%… Other news: CEF -9.2% (announces that it plans to offer Class A Shares of Central Fund to the public in Canada and the United States under its existing $750 mln base shelf prospectus), HGR -6.2% (announces underwritten public offering by shareholder of 2.5 mln shares)… Analyst comments: EPIC -4.7% (downgraded to Underperform at Cowen), STM -3.9% (downgraded to Neutral at JPMorgan), DXPE -3.1% (downgraded to Hold at Jesup & Lamont), GE -2.5% (downgraded to Neutral at Merrill), MU -2.3% (downgraded to Perform at Oppenheimer), CHS -2.3% (downgraded to Neutral from Buy at Piper Jaffray).
Gapping Up
In reaction to strong earnings/guidance: COMS +10.5%, CC +8.8%, UNP +1.6%… M&A news: IMCL +6.1% (Bristol-Myers Squibb raises bid for ImClone Systems to $62.00 per share)… Select airline stocks ticking higher with crude lower: NWA +4.2%, LCC +3.5%, AMR +3.4%, UAUA +3.4%, CAL +2.9%… Other news: DSL +20.6% (names Charles R. Rinehart Chief Executive Officer), AIG +9.7% and ABK +6.8% (still checking for anything specific), ABX +2.3% and AEM +1.6% (Cramer makes positive comments on MadMoney)… Analyst comments: ATML +4.7% (initiated with a Buy at UBS), NLY +2.5% (upgraded to Buy at Merrill).
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