08:21 SUMRX Gapping up/down: SINA +6.4% on earnings, NTSP +28.5%, OMX +14.6% and ODP +13.5%... TEX -5.5%, TOL -3.8%, BHP -3.1% on earnings/guidance, Metals/mining stocks lower
Gapping up: In reaction to strong earnings/guidance: LZB +11.3%, RMBS +7.2% (also Rambus and LSI sign patent license agreement), SINA +6.4%, MDRX +5.7%, LOPE +5.1%, FNF +3.4%, LL +3.3%, ICON +1.9%, DVN +0.4%.
M&A related: NTSP +28.5% (NetSpend to be acquired by TSYS in all cash deal valued at ~$1.4 bln), CRTX +20% (discloses in filing that Chiesi Farmaceutici SpA proposed to acquire 100% of co's common stock for $6.40-6.70 per share in an all cash transaction), OMX +14.6% and ODP +13.5% ( ODP to acquire OMX for 2.69 shares of ODP or ~$13.50/share for OMX), JOY +4.3% (M&A chatter making the rounds; Swedish conglomerate Atlas Copco named as potential suitor this time around).
Other news: CHTP +43.8% (receives FDA guidance for a Northera (Droxidopa) NDA Resubmission With Study 306B; co to resubmit NDA in late second quarter 2013), DMD +19.9% (Announces Plan to Explore Separating Its Business into Two Public Companies), SCMP +15.4% (ticking higher, announces commercial availability of RESCULA in U.S. pharmacies), GDOT +10% (following NTSP news), NVGN +8.2% (continued strength), JASO +6.4% (announces shipments for 4Q2012 are expected to be in the range of 480 MW to 500 MW, exceeding the co's previously provided shipment guidance of 380 MW to 420 MW), AEZS +5.9% (First Patient Treated for Phase 2 Trial with AEZS-108 in Triple-Negative Breast Cancer), AG +4.4% (elected not to exercise right to match Coeur's (CDE) offer for Orko), BA +0.9% (Boeing is near a fix for Dreamliner battery, according to reports), MU +0.4% (Micron and Elpida announce antitrust clearance of transaction by Chinese Ministry of Commerce).
Analyst comments: SPLS +5.8% (Staples upgraded to Neutral from Sell at Citigroup), THLD +5.4% (upgraded to Overweight at Piper Jaffray)
Gapping down: In reaction to disappointing earnings/guidance: MM -26.7%, GRMN -8.3%, CLUB -8.2% (thinly traded), SODA -7.1%, ZIXI -6.7% (light volume), FNGN -6.2%, (light volume), ANAD -6.1%, TEX -5.5%, TOL -3.8%, BHP -3.1% (also BHP Billiton CEO Marius Kloppers to retire May 10, 2013; Andrew Mackenzie to succeed him and join the Board), AU -3.1%, BJRI -2.6% (light volume), BAS -2.5%, FTE -2.5%, NBR -1.4%, (light volume), KONA -1.4% (thinly traded), ADI -0.9%.
M&A related: LIFE -5.0% (Life Technologies sale to possible buyer Thermo Fisher Scientific (TMO) is less likely, according to reports), TSS -1.8% (NetSpend to be acquired by TSYS in all cash deal valued at ~$1.4 bln), GDI -1.5% (WSJ report suggesting KKR is only bidder left).
Metals/mining stocks trading lower: CDE -4.6% (elected not to exercise right to match Coeur's (CDE) offer for Orko), BBL -3.1%, GFI -2.9%, RIO -2.5%, VALE -2.1%, GOLD -1.6%, GDX -1.2%, SLV -0.9%, SLW -0.9%.
Other news: HNR -34.5% (Harvest Natural announces termination of agreement to sell interests in Venezuela), ONCY -4.5% (announces common share offering; size not disclosed), TRNO -3.4% ( announces public follow-on offering of 5 mln shares of common stock), NRF -2.9% (announces public offering of 30 mln shares of common stock),KORS -1.8% (announces secondary offering in Form F-3), VOD -1.3% (Vodafone PLC was the highest among 5 bidders for UK mobile spectrum, will pay $3.6 bln), BP -0.6% ( Judge says BP maximum fine from Gulf spill should be cut by as much as $3.5 bln, according to reports), .
Analyst comments: AEG -2.9% (downgraded to Sell from Hold at ABN Amro), WIN -2.7% (downgraded to Sell at UBS), BCS -2% (downgraded to Neutral from Buy at Goldman), DECK -1.6% (downgraded to Neutral from Outperform at Wedbush), BIDU -0.5% (downgraded to Underperform from Outperform at Credit Agricole)
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