08:24 SUMRX
Gapping up/down: ORCL +2.7%, SAI +0.6% following earnings/guidance, LNKD +6.4%... BHI -5.1%, JBL -2.6% following earnings/guidance, Select oil/gas related names lower
Gapping up:
In reaction to strong earnings/guidance: FSII +14.1%, OMN +11.8%, USG +7.5%, KKD +3.7%, ORCL +2.7%, SAI +0.6% (light volume, also announces initiation of a quarterly dividend at $0.12/share, upgraded to Sector Perform from Underperform at RBC Capital), ATU +0.5% (light volume).
Other news: ASGN +24.3% (to acquire Apex Systems), LLEN +16% (light volume, signed a strategic sales agreement with AVIC International Coal Logistics Co. to expand its efficiency and coal sales throughout the Guizhou province), YPF +10.1% (strength attributed to reports that Argentina Cabinet Chief will not nationalize YPF), CVBF +9.3% (will replace Wright Express in the S&P SmallCap 600 index), LXRX +9.1% (FDA grants Lexicon orphan drug designation for telotristat etiprate for the Treatment of Carcinoid Syndrome), CHL +3.9% (still checking), LGF +3.4% (Lions Gate Entertainment CEO on CNBC notes that Hunger Games movie broke advance ticket sales record), HIG +3.2% (to wind down its annuities business; expects to take a related after-tax charge of $15 mln to $20 mln in Q2 of 2012), MILL +2.2% (executed a new contract for the sale of its Alaska oil), MU +1.8% (Micron has offered $1.5 bln for Japan based Elpida Memory, according to reports), NLY +1.3% (announces Q1 dividend of $0.55 per share), CAT +0.4% (to increase China excavator production by 80%, according to reports).
Analyst comments: LNKD +6.4% (upgraded to Buy from Neutral at Goldman), OPEN +3.9% (upgraded to Buy at The Benchmark Company), ARUN +2.7% (initiated with a Buy at Auriga), NI +1.1% (upgraded to Buy from Hold at KeyBanc), ACN +0.7% (ticking higher, upgraded to Hold from Sell at Societe Generale).
Gapping down:
In reaction to disappointing earnings/guidance: BHI -5.1%, JBL -2.6%, GIS -0.7% (light volume).
A few metals/mining stocks trading lower: BBL -1.4%, BHP -1%, RIO -0.7%, MT -0.6%.
Select oil/gas related names showing early weakness: HERO -3.1% (announces public offering of up to 20 mln shares of common stock and private placement of senior secured notes and senior notes to fund acquisition of the drilling rig Ocean Columbia; to acquire drilling rig from Diamond Offshore Drilling (DO) subsidiary for $40 mln), HAL -2.1%, SPN -1.3%, WFT -1.2%, E -0.8%, STO -0.7%, SLB -0.7%.
Other news: CXS -8.9% (declared Q1 common stock cash dividend of $0.27 per common share, prior $0.35 per common share), AGO -4.4% (Assured Guaranty responded earlier to Moody's announcement of review for possible downgrade), ARIA -3.7% (Oncologic Drugs Advisory Committee votes *not* in favor (1 for VS 13 against) of recommending Taltorvic (ridaforolimus) for FDA approval), PHG -3.3% (still checking), YGE -2.3% (comments on U.S. Department of Commerce's preliminary decision on anti-subsidy tariffs for Chinese Solar Cells and Modules - says 'we are not dumping, nor do we believe that we are unfairly subsidized'), RENN -0.9% (following Renren CEO comments on CNBC), NLSN -0.4% (prices 30 mln share of common stock by existing shareholders at $30.25 per share).
Analyst comments: PWRD -3.5% (downgraded to Neutral from Buy at Nomura).
