08:27 SUMRX Gapping up/down: IRIS +40.3%, GNOM +11.2%, TSLA +6.9%... LDK -6.5% following guidance Gapping up: M&A news: IRIS +40.3% (IRIS Intl to be acquired by Danaher for ~$19.50/share), GNOM +11.2% (Complete Genomics and BGI-Shenzhen announce definitive agreement to merge; U.S. subsidiary of BGI will launch a tender offer to purchase all outstanding shares of common stock of Complete for $3.15 per share in cash, without interest).
Other news: ODP +12.6% (Starboard confirms 13.3% ownership in co; sends letter to CEO and Board of Directors; states that office depot is deeply undervalued), DVAX +11.2% (positive mention on MadMoney), YPF +5.9% (still checking), KCG +4.9% (Knight Capital Group releases Aug trading volumes; Dow Jones Industrial Average, the S&P 500 and Nasdaq Composite Index increased 0.6%, 2.0% and 4.3% YoY, respectively), NOK +2% and CS +1.8% (still checking for anything specific), FB +1.8% (continued strength), YNDX +1.3% (ticking higher on reports that it will replace Google for maps in iOS6), LNG +1.2% (positive mention on MadMoney), AAPL +0.4% (continued strength), RDS.A +0.3% (provides Alaska drilling update; containment dome aboard the Arctic Challenger barge was damaged), .
Analyst comments: TSLA +6.9% (upgraded to Overweight from Underweight at Morgan Stanley), NVS +0.7% (upgraded to Outperform from Neutral at Exane BNP Paribas ), TGH +0.6% (upgraded to Outperform at FBR Capital)
Gapping down: In reaction to disappointing earnings/guidance: LDK -6.5%, TYC -3.1%, (announces shareholder approval of spinoffs and lowers Q4 guidance for Fire and Security segment; lowers Q4 margin for domestic ADT; reaffirms Flow Control guidance).
A few coal names showing early weakness: ACI -2.7%, ANR -2.3%, WLT -1.2%.
Other news: THLD -19.7% (Threshold Pharma reports data from Phase 2b clinical trial of TH-302 in combination with Gemcitabine), BIOF -5.1% (modestly pulling back), OREX -4.7% (files for $150 mln mixed securities shelf offering), ZNGA -1.6% (Reuters discusses allegations that ZNGA has made against Electronic Arts (EA) over employee hiring).
Analyst comments: AKS -4.6% (downgraded earlier to Neutral at JP Morgan, downgraded to Fair Value from Buy at CRT Capital), X -3.1% (downgraded to Neutral from Overweight at JPMorgan), BT -1.8% (downgraded to Neutral from Outperform at Exane BNP Paribas ), WFC -0.9% (downgraded to Hold at Stifel Nicolas), UA -0.9% (ticking lower: downgraded to Hold from Buy at Argus), BBVA -0.8% (downgraded to Underperform from Neutral at Exane BNP Paribas ), DB -0.6% (Deutsche Bank downgraded to Underperform from Neutral at Credit Suisse)
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