Gapping up
In reaction to strong earnings/guidance: CUTR +14% (light volume), MRIN +12.6%, CNVR +10.6%, GIG +9.9% (also GigOptix and CPqD announce signing of definitive agreements to incept BrPhotonics Produtos Optoeletrônicos LTDA., a new joint venture company in Brazil ), ETRM +7.9%, PHH +7.3%, ( Considering separating or selling fleet business or mortgage business), OC +6.7% (light volume), DVA +6.5%, CSTE +6.2%, TRMB +5.8%, CNO +4.6%, (light volume), MGIC +4.5%, ING +4%, CRTO +3.7% (light volume), PKG +3.6%, FOSL +3.5%, (also tgt to $150 from $145 at Jefferies following earnings), VICL +2.9%, CTRL +2.7%, (light volume), DE +2.6%, AAWW +2.5% (light volume), SGEN +2% (light volume), SPW +1.2% (light volume), TOT +0.6%.
M&A news: ACO +12% (Amcol to be acquired by IMERYS for $41 per share).
Select financial related names showing strength: NBG +1.6%, HSBC +1.1% (Barron's profiles positive view), IBN +1%, CS +0.8%, DB +0.7%,
Metals/mining stocks trading higher: AU +2.4%, RIO +1.2%, GOLD +1.1%, BBL +1%, SLV +0.4%, ABX +0.4%.
A few oil/gas related names showing strength: STO +0.9%, BP +0.8%, PTR +0.5%.
Other news: EMMS +13% (announces acquisition of WBLS-FM and WLIB-AM in New York for $133 mln in cash), STV +7.7% (continued strength), STEM +7.1% (announces completion of the First of Two Cohorts in its Dry Age-Related Macular Degeneration Trial), NNVC +2.4% (following 24% drop yesterday on cautious blog story; CEO subsequently interviewed on radio yesterday afternoon), CLF +2.2% (announces significant reduction in 2014 capital expenditures: expects $375-425 mln vs $862 mln in prior year), SFLY +2.1% (authorizes $100m share repurchase program), BLRX +1.7% (announces positive preclinical results for novel treatment for chronic myeloid leukemia; BL-8040 study published in Molecular Cancer Therapeutics ), ARNA +1.5% (announces filing for Marketing Authorization of BELVIQ in Brazil; Eisai's filing for approval of BELVIQ as a treatment for chronic weight management triggers $500,000 milestone payment), VRNG +1.1% (late move higher ahead of update on recent Court rulings), IDTI +1.1% (CEO disclosed buying 100K shares at $10.31-10.62 on 2/7-2/10 worth ~$1.0 mln), TWTR +1.1% (Twitter considering redesign similar to Facebook, according to reports), GAIN +0.4% (COO discloses buying 80K shares at $7.41 on 2/7, worth ~$600K ), BTU +0.4% (reaffirms production guidance in 8-K; targeting 185-195 mln tons of production in 2014; revenue per ton expected to be 5.8% below 2013 levels), CSIQ +1.2% ( prices offering of 2,778,000 common shares at $36.00 per common share; also prices concurrent offering of $130 mln in aggregate principal amount of 4.25% convertible senior notes due 2019 ), CAT +0.4% (following DE results).
Analyst comments: CROX +3.5% (upgraded to Overweight from Neutral at Piper Jaffray), S +2.5% (upgraded to Buy from Hold at Deutsche Bank), DDD +1.8% (tgt to $78 from $68 at Citigroup), ECOM +1.2% (initiated with a Outperform at Robert W. Baird), REGN +0.4% (re-initiated with a Buy at BofA/Merrill).