Gapping up In reaction to strong earnings/guidance: ESNC +3.4%, AGN +3.2%, CHSP +0.6%
M&A news: PNX +168.6% (to be acquired by Nassau Reinsurance Group for $37.50 per share in cash), TEVA +1.3% (enters into $27 bln bridge loan credit agreement with various brokers; will use funds borrowed as a portion of the cash consideration for its pending acquisition of the global generics business of Allergan (AGN)), EXC +1.2% (Exelon and Pepco Holdings file for reconsideration of their merger; Settlement discussions underway with the District of Columbia government)
Select metals/mining stocks trading higher: HMY +5.4%, MT +3.7%, AKS +2.2%, GFI +1.6%, RIO +1.3%, X +1%, FCX +0.8%
Select oil/gas related names showing strength: PKD +6.3%, GDP +4.8%, SDRL +3.7%, STO +2.7%, RDS.A +2.4%, OAS +2.4%, RIG +2%, TOT +1.9%, SD +1.9%, BP +1.6%
Other news: CERE +17% (announced that KWS SAAT SE will evaluate Ceres' Persephone bioinformatics technology under a license agreement), CHLN +16.8% (approves a revised proposal for the contemplated reverse stock split with an increased cash-out price of $3.00/share), NVAX +7.4% (reports positive top-line data from its Phase 2 clinical trial of RSV F Vaccine, used to protect infants via maternal immunization; also awarded a grant of up to $89 million from the Bill & Melinda Gates Foundation, to support development of the RSV F Vaccine Phase 3 clinical trial), CANF +5.8% (Mitchell P. Kopin discloses 7.4% passive stake in 13G filing), YHOO +3.6% (provided update on Alibaba (BABA) stake spin off; co continues to expect completion in Q4; spin-off no longer conditioned upon receipt of a favorable ruling from the IRS), MWW +3% (announced sale of 50.01% owneship position in JobKorea for ~$85 mln), STM +3% (still checking), VALE +2.9% (proposes a dividend reduction), XON +2.3% (formed a new Exclusive Channel Collaboration with ZIOPHARM Oncology (ZIOP) to pursue cellular therapy approaches to autoimmune disorder), TTM +2.3% (RBI cut int rates by 50bps), SUNE +2.3% (modest rebound after recent weakness), FRO +2% (to delist from LSE), AA +1.4% (favorable commentary on Monday's Mad Money)
Analyst comments: RJET +9.6% (upgraded to Buy from Hold at Deutsche Bank), ALV +3.1% (upgraded to Neutral from Sell at Goldman), VRX +2.1% (initiated with a Buy at Nomura), GPRO +1.9% (initiated with a Buy at Sterne Agee CRT), MU +1.6% (upgraded to Outperform from Market Perform at Wells Fargo), MCD +1.3% (upgraded to Outperform from Neutral at Credit Suisse), CUDA +1.3% (initiated with a Buy at Stifel), BMY +1.2% (upgraded to Buy from Neutral at UBS), JNJ +1.1% (upgraded to Buy from Hold at Deutsche Bank), TXRH +0.8% (initiated with a Outperform at Telsey Advisory Group)