Gapping Down
Select oil/gas names showing weakness with crude lower: BP -3.4%, RDS.A -2.8%, TOT -2.5%… Select financial stocks trading lower: AEG -5.6%, NCC -5.6%, UBS -5.3%, STD -4.7%, CS -3.1%, LYG -2.8% (Lloyds TSB could face rival bid for HBOS: Newspaper - Reuters), BAC -1.1%… Other news: VSE -60.4% (preparing to file for bankruptcy protection - WSJ), ATRC -26.5% (announces investigation by the Department of Justice; also downgraded to Hold at Roth), VOD -6.9% (still checking for anything specific), CEG -1.3% (provides update on liquidity and strategic initiatives)… Analyst comments: FDRY -3.7% (downgraded to Hold at Kaufman), PTEN -3.5% (downgraded to Underweight from Neutral at JP Morgan), IP -2.7% (downgraded to Neutral at Goldman - DJ), BA -2.1% (added to Convictiontion Sell List at Goldman - DJ), CIEN -1.9% (downgraded to Underweight at Merrill).
Gapping Up
In reaction to strong earnings/guidance: SOL +19.4%, DRYS +17.0%, OSK +11.0%, GT +9.9% (light volume), DAC +2.9%, STO +2.5%, PMI +2.4%… M&A news: UBB +15.7% and ITU +9.8% (Itau, Unibanco announce merger - DJ)… Select drybulk shipping names trading higher following DRYS and DAC results: TBSI +11.0%, EXM +8.8%, DSX +8.2%, FRO +5.7%, GNK +3.1%… Select metals/mining names showing strength: BHP +4.4%, GOLD +4.2%, BBL +4.0%, SLV +3.9%, SLW +3.6%, AEM +1.8%, GLD +1.4%… Other news: VMED +30.2% (lenders vote to allow delay of GBP1.66 bln loan repayments - WSJ), HIG +8.9% (comments on capital position; says capital margin would be approx $2 bln at year end), LVS +7.1% (still checking), DPTR +6.2% (Board of Directors to review Tracinda Corporation offer and provide recommendation), NOK +4.2% (still checking for anything specific), MRO +4.0% and BWP +3.7% (Cramer makes positive comments on MadMoney), AIG +3.7% (still checking), BIDU +2.4% (announces $200 mln share repurchase program), MON +1.7% (to invest in technologies for sugarcane with acquisitions of CanaVialis and Alellyx)… Analyst comments: TE +4.0% (upgraded to Buy at KeyBanc Capital Mkts), BIIB +3.4% (upgraded to Outperform at Baird), TSO +2.4% (upgraded to Neutral at JPMorgan), WMT +1.5% (upgraded to Overweight at JPMorgan).
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