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Hey guys, I am checking out for the rest of the month.
Family issues take priority over trading right now.
I’ll drop in occasionally just to see what’s happening, but I will mostly be out of pocket.
Everyone take care, trade safe, and enjoy the volatility.
ico
See y'all later...
This week's biggest % gainers/losers
The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).
This week's top 20 % gainers
Healthcare: SCLN (11.06 +18.16%), JUNO (54.02 +15.9%), LJPC (27.35 +13.96%), AFMD (14.5 +13.73%), ALDR (51.75 +13.39%), SGYP (9.28 +12.9%), HNT (71.57 +12.23%), GNCA (13.52 +10.64%), KITE (65.07 +7.64%), EVH (20.41 +7.59%)
Materials: SAND (3.2 +6.67%)
Industrials: TRR (10.33 +8.74%), PNR (67.94 +6.57%)
Consumer Discretionary: MPEL (20.63 +10.91%)
Financials: CB (121.47 +25.94%), HRTG (24.61 +10.26%), PHK (10.22 +7.35%)
Energy: DK (39.72 +9.39%), LPG (16.54 +7.82%), HFC (44.82 +7.12%)
This week's top 20 % losers
Healthcare: GTS (20.23 -22.07%)
Materials: CLF (3.86 -16.99%)
Industrials: BLDP (1.7 -22.37%)
Consumer Discretionary: APOL (12.93 -20.92%), TUES (10.99 -20.19%), CTCM (2.16 -19.4%)
Financials: OFG (9.64 -31.39%), MBI (5.75 -30.89%), FBP (4.74 -26.28%), AMBC (16.77 -25.07%)
Energy: PVA (3.96 -23.55%), EXXI (2.31 -21.69%), CWEI (56.76 -20.46%), SD (0.76 -20.13%), KEG (1.58 -19.39%), CRC (5.48 -18.81%), BTU (1.87 -18.34%), EPE (11.33 -17.24%), PES (5.46 -17.02%)
Consumer Staples: FRPT (16.75 -20.12%)
Fourth of July is my favorite Holiday. Get that grill out and the family over and start cooking, folks...
ENJOY!
I may just trade oil next week and nothing else,
appreciate the DWTI heads up.
I had traded SCO today (and almost every day), but I notice DWTI has a higher volatility rating as per FinViz...
Will check it out Monday...thanks
OT: One thing I will NOT be doing this weekend...
Watch the video...sheese
http://rt.com/news/271153-base-jump-emanuele-hole/
Today's biggest point gainers/losers
Biggest point gainers:
HNT (72.54 +7.48), TSLA (273.93 +4.78), XOOM (25.44 +4.74), NTRA (22.01 +4.01), CFMS (22.21 +2.96), PXD (138.96 +2.73), MMP (73.54 +2.71), AGTC (18.76 +2.50), GTLS (36.41 +2.39), CB (122.34 +2.35), CPGX.W (29.91 +2.32), ACE (104.74 +2.25), SYNA (85.61 +2.05), WDC (81.48 +2.04), ENR (36.06 +2.01), NEE (100.43 +2.00), VRTX (128.08 +1.89), BP (41.15 +1.88), FOSL (71.90 +1.87), PRGS (29.93 +1.78), SKX (115.30 +1.73), STZ (117.64 +1.64), IBKR (44.36 +1.62), VAR (85.85 +1.47), SRE (100.29 +1.45)
Biggest point losers:
LILAK (49.89 -20.01), HUM (188.41 -4.73), CNC (76.21 -4.69), PANW (172.57 -3.57), GTS (21.31 -3.32), AMZN (434.19 -3.20), CPHD (58.00 -3.13), VRX (225.11 -3.13), AGU (106.65 -2.71), QLYS (37.42 -2.62), CTSH (59.61 -2.51), XIV (40.92 -2.38), BIDU (196.39 -2.32), CYBR (60.14 -2.13), AMBA (99.80 -2.08), GNRC (37.75 -2.03), WHR (169.00 -2.00), AMGN (153.09 -1.90), AET (127.15 -1.75), AGN (305.26 -1.65), MNTA (20.80 -1.63), BIIB (403.81 -1.60), APD (136.95 -1.57), CHTR (172.09 -1.50), GRUB (30.20 -1.47)
LOL...especially on the last trading day before a holiday...I need a caffeine jolt if nothing else ...heh
Baker Hughes rig count follow-up; the amount of oil rigs in use in the U.S. just rose for the first time in six months, oil prices sell off
• U.S. oil rigs in use rose for the first time in six months (since December 5, 2014)
• As noted at 13:05, total oil rigs in use rose by 12, while gas rigs were down 9, for a net change of plus 3 for total rigs
• Before we get too excited, we just want to note that since December 5, 2014, oil rigs in use fell by 947 rigs (or 60.1%) to 628 rigs (from 1,575)
• Today, oil rigs in use rose by 12 for the week to 640.
• Oil prices sold off as a reaction to this data
• We also want to note that, one fear in the investment community was that oil and gas producers will be coming back online more following the sharp decline in oil rig count, which will add new pressure on oil prices
• Well, here's one week that shows 12 oil rigs in the U.S. are back in use. However, this clearly does not make a trend
• Going forward, let's keep on top of the U.S. rig count as this remains to be a catalyst to oil prices
YELP off a cliff today...was halted for volatility, now resumed....
From Bloomberg...
Notable movers of interest
The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).
Large Cap Gainers
BP (41.38 +5.37%): Announced it would settle federal, state and local Deepwater Horizon claims for up to $18.7 bln with payments to be spread over 18 years.
IBKR (44.36 +3.78%): Outperforming on the heels of positive comments from a tier 1 firm.
VRTX (130.9 +3.73%): Strong in anticipation of the FDA's review of its Orkambi treatment for cystic fibrosis. Shares were halted midday, upon which the FDA issued an approval. Shares have yet to resume.
Large Cap Losers
WU (19.15 -6.08%): Downgraded to Hold from Buy at Evercore ISI; tgt to $20 from $23.
CTSH (59.8 -3.73%): Announced that its existing seven year master services agreement with Health Net (HNT) will not be implemented as there will likely be overlaps if HNT merges with Centene (CNC); reaffirmed its FY15 guidance.
DD (60.07 -2.21%): Price tgt lowered at RBC Capital Mkts & UBS following completion of Chemours (CC) spinoff.
Mid Cap Gainers
HNT (70.91 +8.99%): To be acquired by Centene (CNC) for ~$78.57/share in cash and stock in a $6.8 bln deal.
FIT (42.81 +1.01%): Continued strength following its June IPO; favorable mention on last night's Mad Money segment.
IOC (59.35 +2.82%): Announced that it and the PRL 15 joint venture participants have unanimously endorsed recommendations from Total SA for key project infrastructure sites for development of the Elk-Antelope gas field in Papua New Guinea. Selection of the final development concept, including the size and capacity of facilities, is expected in early 2016.
Mid Cap Losers
YELP (37.29 -12.13%): Reports out the company has decided against pursuing a sale.
GNRC (37.17 -6.56%): Downgraded to Underperform from Neutral at BofA/Merrill; tgt $33.
QUNR (40.55 -3.5%): Confirmed the final judgment in its dispute with eLong (LONG); weakness in the Shanghai index weighing in addition.
Chipsters deserve a look...SMH Semiconductor Hldrs ETF continues to display intraday relative strength (55.25 +0.47)
The SMH has edged to a new session high in recent trade.
Top performing semi names include: AMD +5.6%, LSCC +5.5%, MU +2.7%, INTC +2.3%, CRUS +1.2%, MRVL +1.2%, TSM +1.1%, SNDK +1%, KLAC +0.7%.
CVX...am short a little...might be very temporary, though...
Watching GLNG but no excitement ther after NG report..
SCO going down as the USO goes up...
And yeah...USD sucking wind so far...
Carry on...
Economic Summary: Nonfarm Payrolls miss expectations; Unemployment falls to 5.3% as labor force shrinks
Gapping down
In reaction to disappointing earnings/guidance: FC -0.3%, FDO -0.2%, ISCA -0.1%
M&A news: FRO -6.6% (merges with Frontline 2012 )
Select China related names showing weakness: CSUN -4.9%, CMCM -3.1%, JMEI -1.9%, WBAI -1%, .
Other news: WPCS -30.5% (following yesterday's ~95% move higher; also completes a series of transactions resulting in the elimination of all of its $1,703,000 principal amount of Unsecured Promissory Notes ), ANR -4.6% (subsidiary Pennsylvania Services Corporation, acquires a 50% interest in Pennsylvania Land Resources Holding Company for $126 mln), FIT -3.7% (cont vol post IPO), BTU -2.8% (appointed Amy Schwetz to Executive Vice President and Chief Financial Officer; replaces Michael Crews, who has announced plans to step down to take the top financial position at a major industrial firm), NBG -1.8% (cont vol surrounding Greece Referendum), QUNR -1.2% (confirmed final judgment in dispute with eLong (LONG)), EPRS -1.1% (filed for $125 mln mixed securities shelf offering)
Analyst comments: WU -4.5% (downgraded to Hold from Buy at Evercore ISI), CPST -2.5% (downgraded to Market Perform from Outperform at Northland Capital), BTU -2.3% (downgraded to Sell at Deutsche Bank)
Read more: http://www.briefing.com/GeneralContent/Platinum/Active/FullTextSearch/FullTextSearch.aspx#ixzz3ejxIFOZH
Gapping up
In reaction to strong earnings/guidance: PRGS +8.1%
M&A news: HNT +15.6% (to be acquired by Centene (CNC) for ~$78.57/share in cash and stock), PKY +3.3% (Bloomberg reporting that co is considering strategic options including a potential sale), CNC +2.6%, SYT +1.9% (cont spec on M&A with MON), AMBA +1.8% (acquires VisLab S.r.l., a privately held Italian company based in Parma, Italy for $30 million in cash ), CHK +1.5% (Privately-Held FourPoint Energy to acquire oil and gas assets from Chesapeake Exploration and CHK Cleveland Tonkawa for $840 mln), SSYS +1.1% (acquires RTC Rapid Technologies)
Other news: PVCT +24.5% (signs Letter of Intent with Boehringer Ingelheim (China) Investment to collaborate in bringing PV-10 to market in mainland China, Hong Kong and Taiwan), XOOM +22.5% (to be acquired by Paypal (PYPL) for $25/share, or ~$890 mln), AGTC +18.7% (Applied Genetic Technologies and Biogen (BIIB) enter into a collaboration and license agreement to develop gene-based therapies for multiple ophthalmic diseases), HNSN +17.5% (receives FDA 510(k) clearance for its Magellan 10Fr Robotic Catheter for use in the peripheral vasculature), ACRX +11.7% (reports that results from its IAP311 study have been published in the publication Anesthesiology), NAVB +8% (reports imaging results from its Manocept clinical trial and other preclinical studies), GRBK +6.7% (Form 4 filings indicate Third Point, Greenlight Capital, and company directors bought shares in 17 mln share offering of common stock at $10 per share announced on June 22), CFMS +6.7% (favorable commentary on Wednesday's Mad Money), ARO +4.9% (confirms expansion plans throughout Asia, with new licensing agreements in India and Indonesia), MBI +4.6% (strength on further reports regarding Puerto Rico successfully paying $1.9 bln in debt obligations), GTLS +4.3% (to replace IGTE in the S&P SmallCap 600), TSLA +4.1% (announces 11,507 Model S deliveries for Q2 2015), OFG +3.6% (strength on further reports regarding Puerto Rico successfully paying $1.9 bln in debt obligations), AMBC +3.6% (confirms that all payments due on its insured Puerto Rico bonds have been paid in full by the relevant issuer ), WLL +3.4% (announces results of exchange offer relating to outstanding, unregistered 6.25% Senior Notes due 2023), VNOM +3.1% (filed $1 bln common unit offering representing limited partner interests and for up to ~70.95 mln common units representing limited partner interests by selling unitholders), SPNC +3% ( reports that a federal court in California awards AngioScore $20 million plus disgorgement in breach of fiduciary duty case), BP +2.8% ( report suggesting pollution settlement from Gulf oil spill in 2010), WYNN +2.4% (Macau data), MGM +1.9% (Macau data), LVS +1.8% (Macau data), PBR +1.2% (to analyze strategic alternatives for its Petrobras Distribuidora subsidiary; also announced the sale of 20% of its interest in the concessions of Bijupirá and Salema fields), NSM +1.1% (Point72 Asset Management discloses 5.2% passive stake in 13G filing)
Analyst comments: GRUB +4.3% (upgraded to Outperform at RBC Capital Mkts), LLNW +1.8% (initiated with an Outperform at Cowen), TEX +1% (upgraded to Neutral from Underperform at BofA/Merrill), T +0.8% (upgraded to Outperform from Market Perform at Cowen), AZN +0.6% (upgraded to Buy from Hold at Berenberg
Read more: http://www.briefing.com/GeneralContent/Platinum/Active/FullTextSearch/FullTextSearch.aspx#ixzz3ejwOSwy4
S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +12.80.
The stock market is on track for a higher open as futures on the S&P 500 trade seven points above fair value.
Index futures held modest gains through the bulk of the night, climbing to highs during the past 45 minutes after the Nonfarm Payrolls report crossed the wires. According to the report, payrolls increased by 223,000 in June, which was below the Briefing.com consensus of 230,000. Furthermore, the Unemployment Rate dropped to 5.3% from 5.5%, but that was a result of a large exodus from the labor force. As a result, the participation rate has dropped to its lowest level since October 1977.
Also of note, hourly earnings were unchanged while the consensus expected an increase of 0.2%. In all likelihood, this is why equity futures jumped to highs as the lack of wage growth makes the Federal Reserve less likely to begin hiking rates in the near term.
Treasuries surged off their lows in reaction to the report with the benchmark 10-yr yield now down four basis points at 2.38%.
The Factory Orders report for May (consensus -0.5%) will be released at 10:00 ET.
Big story today was the decline in the price of WTI crude...Puerto Rico did not seem to account for a lot of headlines...and Greece seems to be on the backburner until Monday...
Chatter is that Goldman cannot or will not lend any shares to short the SPY. This sounds like total baloney to me.
Out of here until tomorrow...the last day of the trading week...Yay!
IYT CNBC reporting that a DoJ spokesman is confirming investigation into airlines for alleged airfare collusion (144.81 -0.17)
Airlines seeing weakness today include: JBLU -4.6% HA -4.5% DAL -3.8% UAL -3.7% SKYW -3.6% LUV -3.1% SAVE -2.8% AAL -3.3% JETS -2.1% CEA -2.0% AVH -1.9% ZNH -1.9% VA -1.5% ALK -1.5% VLRS -0.4% RJET -0.3%
Howdy hans...good to see you...if you are long SCO, you are in high cotton today...
Did not remember your taking a position in it...GL to ya...
The airlines are bouncing nicely...just took some profits off DAL when price got to the 20ema on the 5 min chart...
JETS (sector list here)Seeing headlines that DoJ is investigating airlines for potential airfare collusion (22.31 -0.07)
JBLU -3.7% HA -3.1% UAL -3.1% SKYW -2.7% AAL -2.6% DAL -2.31% AVH -2.3% ZNH -2% SAVE -1.8% VA -1.35% ALK -1.3% CEA -1.1% LUV -0.8% JETS -0.31% VLRS +0.2% RJET +0.8%
Notable movers of interest
The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).
Large Cap Gainers
CB (122.49 +28.75%): To be acquired by Ace Limited (ACE) ~$124.13/share in cash and stock or ~$28.3 bln, based on ACE's closing price yesterday.
HIG (43.78 +5.32%): Outperforming on the heels of the ACE/CB deal as well as notable call activity in the name.
TSO (87.59 +3.77%): Refiners strong amid the beneficial spread between WTI crude/Brent crude prices as WTI (-3.5%) is far underperforming Brent crude (-1.8%) (MPC, VLO also higher).
Large Cap Losers
EC (12.57 -5.2%): Widespread weakness in oil & gas names with WTI crude -3.5%, as mentioned above (SSL, CLR, HAL, STO, NBL, NOV among many others lower).
MKC (79.1 -2.29%): Beat Q2 consensus EPS estimates by $0.07, missed on revs; guided Q3 EPS in-line; guided FY15 EPS in-line.
Mid Cap Gainers
DY (63.06 +7.15%): Raised its Q4 EPS guidance, raised bottom end of Q4 revenue guidance; announced an additional $40 mln to its share repurchase program.
SC (26.3 +2.85%): Announced that its June assets sales reached $1.9 bln
CRTO (49.33 +3.48%): Price tgt raised to $65 at Pacific Crest.
Mid Cap Losers
ENTG (13.54 -7.1%): Downgraded to Neutral from Buy at Sidoti.
ROL (26.95 -5.54%): Downgraded to Neutral from Outperform at Macquarie.
GRUB (32.25 -5.34%): Cautious commentary from ITG suggesting market share loss at the name.
Today's biggest point gainers/losers
Biggest point gainers:
CB (124.04 +28.90), TDOC (30.26 +11.26), VRX (228.33 +6.18), WYNN (104.31 +5.64), AMZN (438.51 +4.42), DY (63.02 +4.17), ACE (105.71 +4.03), NFLX (660.86 +3.92), BIIB (407.80 +3.86), AGN (307.28 +3.82), AVGO (136.22 +3.29), RCPT (193.23 +3.18), TW (128.96 +3.16), ILMN (221.46 +3.10), SCHN (20.33 +2.86), TRV (99.42 +2.76), SWK (107.97 +2.73), PANW (177.37 +2.67), ESPR (84.39 +2.63), DATA (117.92 +2.62), ASML (106.74 +2.61), PCP (202.44 +2.57), FIT (40.76 +2.53), GOOGL (542.44 +2.40), WRB (54.32 +2.39)
Biggest point losers:
BLUE (165.53 -2.84), URI (85.30 -2.32), MKC (78.68 -2.27), BLD.W (26.90 -2.10), ADXS (18.26 -2.07), GBX (45.05 -1.80), BIDU (197.31 -1.77), SHOP (32.31 -1.64), ROL (26.99 -1.54), ALDR (51.45 -1.52), SYNA (85.23 -1.51), NOV (46.82 -1.47), BHI (60.25 -1.45), GRUB (32.63 -1.44), HP (69.02 -1.40), SLB (84.82 -1.37), GMCR (75.28 -1.35), EXAS (28.45 -1.29), HAL (41.80 -1.27), OXY (76.52 -1.25), YY (68.51 -1.01), CI (161.01 -0.99), FTI (40.50 -0.99), RDC (20.14 -0.97), SRPT (29.46 -0.97)
Job cuts increased by about 10 percent in June, as employers announced plans to reduce payrolls by 44,842 workers during the month. Meanwhile, heavier-than-expected downsizing throughout the first half of 2015 pushed the midyear total to its highest level since 2010, according to a report released Wednesday by global outplacement consultancy Challenger, Gray & Christmas, Inc. June job cuts were 9.3 percent higher than the 41,034 planned layoffs... -
See more at: http://www.challengergray.com/press/press-releases#sthash.CysRNTkJ.dpuf
Gapping down
In reaction to disappointing earnings/guidance: GBX -1.8%, MKC -1.1%
Select China related names showing weakness: JMEI -3.4%, JRJC -2%, SFUN -1.9%, CEA -1.9%, CMCM -0.7%
Select metals/mining stocks trading lower: HMY -1.5%, NEM -1.1%, GOLD -1.1%, SLV -0.9%, RIO -0.8%
Other news: XENE -35% (Xenon Pharmaceuticals and Teva (TEVA) Provide Update on TV-45070 Phase 2b Study in Osteoarthritis Pain; TV-45070 4% and 8% did not demonstrate statistically significant difference from placebo in efficacy endpoints in Phase 2b study in pain due to osteoarthritis of the knee), BLDP -16.7% (prices its offering of 8,125,000 common shares at $1.60 per share), ACUR -11.4% (announces a private placement of 9.79 mln shares of common stock at $0.78/share), AXPW -2.3% (disclosed its 35-1 reverse split will be effective on July 14, 2015), WFD -0.9% (disclosed entry into an agreement to repurchase up to 711,733 shares of its common stock pursuant to its stock repurchase program)
Read more: http://www.briefing.com/GeneralContent/Platinum/Active/FullTextSearch/FullTextSearch.aspx#ixzz3ee3tHGEM
Gapping up
In reaction to strong earnings/guidance: AVAV +4.5%, STZ +2.6%, GIS +1.7%, SBLK +0.5%
M&A news: CB +31.9% (ACE (ACE) will acquire Chubb for ~$124.13/share in cash and stock), ACE +7.2%, GPT +3.3% (Gramercy Property Trust and Chambers Street Properties (CSG) to merge; combined company will have an enterprise value of $5.7 bln)
Other news: TLOG +45.3% (announced positive preliminary data from the ongoing Phase 2A study of birinapant in combination with azacitidine in first line higher risk myelodysplastic syndromes), BIOC +19.6% (announced the launch of its FGFR1 amplification testing utilizing a patient's blood sample), ESI +15.9% (disclosed submission of its audited consolidated financial statements to the U.S. Department of Education on June 26, 2015, ahead of the June 30 due date), PRAN +13.7% (cont strength), NBG +13.3% (optimism that Greece will accept latest terms), TBIO +7.8% (announces a private placement of 1.5 mln restricted common shares with Crede Capital Group for $1.42/share), PDEX +6.8% (still checking), MBI +6% (Reuters reporting that Puerto Rico's PREPA utility is close to a deal with creditors to avoid a default; MBI has exposure to Puerto Rican debt), GLNG +5.8% (reached an agreement with Perenco for the floating liquefied natural gas export project in Cameroon), FRO +5.3% (may be benefitting from Greece news), RDHL +5.2% (receives two notices of allowance from the USPTO for RHB-104), KITE +5% (Kite Pharma and The Leukemia & Lymphoma Society announce a partnership to enhance the development of Kite's lead product candidate, KTE-C19), TRV +3.8% (CB, ACE peer), TTM +3.6% (reports June 2015 total commercial and passenger vehicle sales), WYNN +2.9% (Macau data), FIT +2.9% (cont vol post IPO), LVS +2.9% (Macau data), KMDA +2.9% (granted patent by the Israeli Patent Office that covers claims regarding the unique combination of Kamada's inhaled alpha-1 proteinase inhibitor with a customized eFlow nebulizer system), AIRT +2.6% (awarded contract in excess of $32 mln for the supply of 2200 aircraft deicing vehicles to American Airlines), IHG +2.5% (still checking), JUNO +1.9% (cont momentum), FEYE +1.6% (cont momentum), MRH +1.5% (Montpelier Re and Endurance Specialty shareholders vote in favor of the proposed merger)
Analyst comments: NVGN +8.5% (initiated with a Buy at H.C. Wainwright; tgt $8.50 ), VIP +4.6% (upgraded to Buy from Neutral at BofA/Merrill), CS +1.8% (upgraded to Overweight from Equal-Weight at Morgan Stanley ), Z +1.8% ( initiated with a Buy at Guggenheim), AINV +1.3% (initiated with a Buy at Jefferies ), FB +1.2% (raised to $100 from $92 at Cantor Fitzgerald)
Read more: http://www.briefing.com/GeneralContent/Platinum/Active/FullTextSearch/FullTextSearch.aspx#ixzz3ee3h5WdI
Notable movers of interest
The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).
Large Cap Gainers
MPEL (18.99 +6.09%): Casino names outperforming on reports that China will re-extend transit visas to encourage more visitors to Macau; also helping was MGM Resorts (MGM) activist shareholder Land & Buildings issuing additional letter to shareholders reiterating their bullish stance on the name citing undervaluation and rumors of industry consolidation (LVS also higher).
PNR (68.08 +5.67%): Activist investor Trian Fund Management disclosed 7.24% stake, says has met and engaged in discussions with management about ways to create shareholder value through various methods including accretive M&A.
LFC (21.65 +3.79%): Chinese ADSs outperforming after the sell off in Shanghai loses momentum with the SSE Composite Index gaining 5.5%; Shanghai had fallen over 20% in just two weeks (JD, VIPS, NTES also higher).
Large Cap Losers
SNY (49.23 -1.23%): Announced it will issue new shares, commence a secondary offering and issue convertible bonds for expected net proceeds of ~321 bln yen (~$3.6 bln).
SYY (36.04 -3.22%): Downgraded to Hold from Buy at Deutsche Bank.
ERIC (10.36 -3%): Weakness in European names as markets there sell-off, extending yesterday's declines (BBL, MT, RIO, ABB, TOT, NOK also lower).
Mid Cap Gainers
JUNO (54.96 +18.7%): Entered into a ten-year collaboration with Celgene (CELG) for the development and commercialization of immunotherapies; Celgene to make initial payment of ~$1 bln, which includes the purchase of ~9.1 mln shares of Juno's stock at $93/share.
FIT (36.53 +9.76%): Initiated with a Outperform at RBC Capital Mkts; tgt $45.
JMEI (22.45 +6.9%): Upgraded to Buy from Hold at HSBC; also rebounding in conjunction with other Chinese names.
Mid Cap Losers
BPOP (28.48 -3.79%): Continued weakness as a result of Puerto Rico's intensifying debt concerns.
KORS (42.16 -2.79%): Specialty retailers underperforming following cautious analyst comments (KATE also lower).
BBRY (8.06 -2.77%): Price target lowered to $10 from $11 at Cowen.
Today's biggest point gainers/losers
Biggest point gainers:
JUNO (56.24 +9.94), NFLX (654.58 +8.96), THS (80.88 +6.74), TSLA (267.18 +5.16), IBB (365.68 +5.11), BIIB (401.03 +4.82), LNKD (208.30 +4.75), BLUE (164.00 +4.73), ILMN (218.24 +4.26), NTES (144.41 +3.80), WYNN (97.65 +3.72), AMZN (433.40 +3.54), ALDR (50.35 +3.41), PNR (67.80 +3.37), SPW (71.83 +3.20), RCPT (179.16 +3.16), KITE (61.80 +2.84), PANW (174.50 +2.65), MON (105.34 +2.55), PSX (80.99 +2.50), GOOG (523.90 +2.38), YY (70.07 +2.37), VLO (62.89 +2.33), ATHM (50.11 +2.26), SPG (173.24 +2.24)
Biggest point losers:
AMBC (16.50 -3.22), SKX (107.41 -3.05), TW (135.04 -2.94), SCHN (16.75 -2.52), APOL (13.44 -2.10), SNE (28.55 -1.82), TUES (11.47 -1.72), KORS (42.00 -1.37), SNDK (58.83 -1.36), BPOP (28.41 -1.19), BHP (40.73 -1.00), BBL (39.66 -0.99), SYY (36.27 -0.97), OFG (11.30 -0.96), ALB (55.32 -0.92), RDS.A (56.82 -0.92), ATI (30.06 -0.91), WDC (80.56 -0.90), AEM (28.15 -0.89), BIS (29.25 -0.83), NOV (47.77 -0.80), USLV (15.61 -0.76), RIO (41.28 -0.76), KATE (21.80 -0.71), CRM (69.31 -0.69)
Read more: http://www.briefing.com/Platinum/InDepth/InPlay.htm#ixzz3eZ0NY47o
SUNE...hope you nailed it, early...
and "starter position" sounds like a an appropriate beginning :):)
Markets have me a little spooked this week, I am still trying to exploit the weakness...for now!
Trillion-Yuan Tuesday: China Pumps It Up To Close The Quarter
http://seekingalpha.com/article/3293615-trillion-yuan-tuesday-china-pumps-it-up-to-close-the-quarter?source=intbrokers_regular
MBI Weakness persists in stocks with Puerto Rico exposure: MBI, AGO, AMBC, BPOP, OFG, FBP all seeing continued pressure (5.67 -0.70)
Fears continue to mount in Puerto Rico as the government lobbies U.S. lawmakers to change their treatment of the commonwealth and allow it to declare Chapter 9 bankruptcy so it can restructure its municipal debt. Barring a last minute development, Puerto Rico's PREPA utility is expected to miss tomorrow's $400 mln debt payment. Several stocks continue to see a negative response to the situation:
Bond insurers Assured Guaranty (AGO -1.5%) and MBIA (MBI -12.5%) have exposure to PREPA should it fail to meet its July 1 interest payment. Harry Fong from MKM Partners estimates AGO's totaled exposure to PREPA at $1.13 bln while MBI's at $2.1 bln.
Puerto Rico also has a $655 mln payment due tomorrow as well. For the broader Puerto Rico debt crisis, in their latest annual filings, the insurers disclosed the following exposures to Puerto Rico:
AGO: Estimated aggregate $4.9 billion net par in obligations as of March 31, 2015
MBI: Estimated $4.5 billion of gross insured par exposure
AMBC: Estimated total net par outstanding to various Puerto Rico exposures with a total par of $2.44 bln
Shares in the aforementioned names have been under significant pressure in recent sessions after Puerto Rico's Governor said the commonwealth would be unable to pay its almost $72 bln in debts
Banks with Puerto Rican exposure such as Popular (BPOP -12%), OFG Bancorp (OFG -11%) and First Bancorp (FBP -4%) also continue to see sharp declines today.
Finally, this morning, S&P lowered their credit rating on the commonwealth to CCC-minus, saying a default, distressed exchange, or redemption seems inevitable within the next six months.
CELG Celgene: Difficult to initially evaluate the Juno deal -- UBS (115.24 +0.33)
UBS notes the aspects of the JUNO deal that they like include:
[1] If the CAR-T treatment approach emerges as important, then CELG will be well-positioned;
[2] the direct P&L exposure principally arises only when there is proof of concept data;
[3] R&D synergies could arise from the broad-based collaboration that includes autoimmune optionality and doesn't shut off the potential to collaborate with other parties,
[4] it largely utilizes offshore cash as this is principally for OUS rights. However, there are no named partnered programs as of today, which makes the deal hard to evaluate. Further, if the programs fail and JUNO loses value, it will have been an expensive experiment.
Big picture, firm likes the investment in innovative programs to drive LT growth, though it will take time for the fundamentals to play out; Buy, $130 tgt.
June Consumer Confidence 101.4 vs 97.5 Briefing.com consensus; May 95.4
Gapping up
In reaction to strong earnings/guidance: CAG +2.5%,
M&A news: WSH +7% (Willis Group and Towers Watson to combine in merger of equals), GLW +1.5% (acquires the pharmaceutical glass tubing business of Gerresheimer AG for EUR 196 mln), GE +0.8% (confirms Sumitomo Mitsui Banking (SMFG) has made an agreed offer to acquire GE's European Sponsor Finance business for ~$2.2 bln)
Select China related names showing strength; Shanghai +5.5% overnight: SFUN +4.6%, JMEI +4.3%, DANG +3.2%, QIHU +1.9%, BABA +1.5%
Other news: JUNO +33.3% (Juno Therapeutics and Celgene announce a collaboration on CAR-T and TCR cancer technologies; collaboration includes a $1 bln Celgene payment and acquisition of ~9.1 mln shares of Juno stock), CGIX +11.8% (awarded a multimillion dollar clinical trial in hematological cancers by a leading biotech company), NBG +11% (cont volatility in Greece), CLLS +9.7% (JUNO peer), PRAN +8.7% (announces the safety outcomes of the IMAGINE Extension study in patients with Alzheimer's disease), CYAD +7.5% (rebounding following yday decline), KITE +6.9% (following JUNO news), BLCM +6.2% (following JUNO news), ZIOP +5.7% (following JUNO news), PNR +4.9% (WSJ details news that Trian wants Pentair (PNR) to consider purchase of competitors in the space), AMCN +4.4% (Herman Man Guo (Chairman, CEO) discloses 17.16% active stake in 13D filing; as previously announced, Guo has made an offer to acquire all outstanding shares at $6 per ADS), MNGA +4.2% (reports the successful demonstration of its fuel to several utilities, and requests for additional follow-up demonstrations), AMD +3.8% (seeing reports that Microsoft (MSFT) approached the company regarding an acquisition several months ago), CMCM +3.8% (obtains increased annual fee caps from Tencent (TCEHY)), PTNR +3.7% (creates a new framework for relationship with Orange (ORAN)), SSYS +3.4% (cont volatility, large call option volume yday), FIT +3% (Blue Ridge Capital discloses 8.32% passive stake in 13G filing ), TASR +2.8% (receives an order for 300 Axon body-worn cameras and a five year subsciption to Evidence.com, from the Fresno Police Dept; order shipped in Q2), FCAU +2.7% (completes the syndication of its committed revolving credit facility; increasing its size to EUR 5 bln from EUR 4.8 bln, to be used for working capital and general purposes), BLUE +2% (following JUNO news), ABIO +2% (Growth Equity Opportunities discloses 21.3% active stake in 13D filing), FEYE +2% (cont vol), FGP +1.7% (Jamex, LLC discloses 9.5% passive stake in 13G filing), JKS +1.6% (amends it credit agreement, raising the limit to $40 mln from $20 mln), GIII +1.5% (favorable commentary on Monday's Mad Money), CYCC +1.3% (cont strength)
Analyst comments: ING +3.3% (upgraded to Buy from Neutral at BofA/Merrill), FIT +3.1% (initiated with a Outperform at RBC Capital Mkts), SRPT +1.8% (positive note from Oppenheimer), PBR +1.3% (upgraded to Hold from Reduce at HSBC)
Read more: http://www.briefing.com/GeneralContent/Platinum/Active/FullTextSearch/FullTextSearch.aspx#ixzz3eYO2eTrN
Gapping down
In reaction to disappointing earnings/guidance: APOL -12.2%, HELI -6.4%
M&A news: TW -1.3% (Willis Group and Towers Watson to combine in merger of equals)
Select metals/mining stocks trading lower: HMY -4.3%, AU -1.8%, GOLD -1.2%, BHP -0.9%, GG -0.6%
Other news: ETRM -9.3% ( prices its offering of ~40.23 mln units of common stock and warrants at $0.87/unit), SNE -6.1% (to issue new shares, commence secondary offering and issue convertible bonds), VGGL -3.8% (priced offering of ~2.05 mln shares of common stock at $2.05 per share), MGM -1% (still checking), ISSI -0.9% (stockholders approved acquisition by Uphill Investment for $23 per share in cash)
Analyst comments: MLHR -2.8% (downgraded to Neutral from Buy at Longbow), TCB -1.0% (downgraded to Hold at Sandler O'Neill)
Read more: http://www.briefing.com/GeneralContent/Platinum/Active/FullTextSearch/FullTextSearch.aspx#ixzz3eYNk2HSC
MBI, AGO, AMBC...from WSJ today...
Notable movers of interest
The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).
Large Cap Gainers
APH (57.96 +4.09%): Announced it had offered to acquire 100% of the shares of FCI Asia Pte Ltd for $1.275 bln.
FE (32.96 +0.64%): Utilities outperforming as interest rates slump (AEP, ED, SRE, DTE, PCG also higher).
BDX (143.16 +0.79%): Upgraded to Buy at UBS.
Large Cap Losers
SAN (7.05 -6.44%): European banks under pressure amid Greek developments, global selloff (BBVA, DB also lower).
CVE (15.99 -5.16%): Initiated with a Sell at Goldman.
LNKD (205.97 -4.61%): Filed for a ~3.57 mln share offering for selling shareholders.
Mid Cap Gainers
HLF (54.16 +0.76%): Announced that Eric D. Rosen will join its global corporate affairs team as vice president of government relations and director of its Washington, D.C. office.
DPLO (44.8 +0.7%): Initiated with a Buy at Mizuho; tgt $53.
Mid Cap Losers
ADRO (30.07 -8.07%): Announced that an independent Data Monitoring Committee recommended that the Phase 2b ECLIPSE trial of its novel LADD and GVAX immunotherapies continue as planned without modification based on the successful outcome of a pre-specified futility analysis.
CALM (51.63 -5.78%): Underperforming as Avian Flu fears subside.