Gapping Down
In reaction to disappointing earnings/guidance: LOGI -17.6%, CE -13.7%, JAVA -13.5%, FITB -11.0%, TLAB -11.0%, WU -10.7% (light volume), MICC -10.3%, TXN -9.3% (also downgraded to Hold at Deutsche Bank), ALV -8.7%, PUK -5.7%, SNDK -2.9%… M&A news: ACGY -4.1% (announces co held discussions with Subsea 7 in relation to a possible merger; the discussions have now been terminated)… Select oil/gas related names showing weakness with lower spot prices: SSL -12.4%, BP -7.0%, TOT -6.2%, RDS.A -4.6%, XOM -2.9%, CVX -2.3%… Select drybulk shippers trading lower as Baltic index drops 4.6%: NM -7.9% (downgraded to Neutral at BofA), DRYS -5.1%, TBSI -4.3% (downgraded to Neutral at Banc of America)… Select metals/mining names showing weakness with lower spot prices: BBL -8.4%, RIO -8.0%, MT -7.8%, AUY -6.1%, BHP -5.1%, GFI -5.1%, RTP -4.7%, AU -4.6%, GLD -3.5%, GOLD -2.7%… Other news: WPPGY -9.6% (still checking for anything specific), ABK -7.1% (Bond insurers seek to tap into $700 bln plan - FT), SAP -6.2% (Oracle told by judge to offer to settle with SAP - Reuters), HBC -4.6% (still checking), ING -3.6% (pulling back from yesterday’s 15%+ move), F -3.4% (Tracinda to reduce F holdings, will Focus on Gaming & Hospitality and Oil & Gas Industries), AZN -2.9% (still checking)… Select tech related names trading lower following TXN results: IFX -8.9%, ERIC -8.6%, STM -7.4%, ALU -6.8%, NOK -4.3%… Analyst comments: C -4.2% (restarted with a Sell at Goldman- added to Conviction Sell list- Bloomberg), NRG -2.6% (downgraded to Hold at Jefferies), DUK -2.3% (downgraded to Underperform at Merrill), EXC -1.3% (downgraded to Hold at Jefferies).
Gapping Up
In reaction to strong earnings/guidance: GBL +15.0%, JDAS +9.1%, COH +7.4%, AXP +6.8%, MMM +4.5%, PFE +4.3%, FRX +4.1%, PTV +3.7% (light volume), BIIB +2.3%, CAT +1.5%… Other news: TMA +16.3% (still checking for anything specific), LINE +12.3% (Cramer makes positive comments on MadMoney), LGF +8.0% (Carl Icahn discloses 9.17% stake in 13D filing; had discussions with the CEO and Vice Chairman), MGM +4.8% (Tracinda to focus on Gaming & Hospitality and Oil & Gas industries), HK +3.9% (provides Q3 operational update; Haynesville Shale activities move forward), MA +1.9% (up in sympathy with AXP), BDX +1.3% (Cramer makes positive comments on MadMoney).
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