Gapping up
In reaction to strong earnings/guidance: LOGM +20.2% (also upgraded to Buy
from Hold at Needham), JCOM +19.6% (also increased dividend), CRAY +10.8%,
SANW +10% (ticking higher), RATE +9.2%, FALC +7.4% (thinly traded), CLF
+5.9% (also issues open letter to shareholders says 'Board of Directors
and management team have attempted to maintain a constructive dialogue
with Casablanca'), JE +2.6% (light volume), TRW +2.4%, JOEZ +2.3% (light
volume), LLNW +1.9%, BRCD +1.8%, KRFT +1.1% (also approve the transition
of Executive Chairman John Cahill to Non-Executive Chairman of Kraft's
Board of Directors on March 8, 2014).
M&A related: LCAV +26.1% (LCA Vision to be acquired by PhotoMedex for
$5.37 per share in cash; expected to be accretive to PhotoMedex's cash EPS
in 2014, excluding transaction-related items), KOOL +8.7% (Thermogenesis
receives stockholder approval at a special meeting of the stockholders for
the acquisition of TotipotentRX through a merger into
ThermoGenesis), ACO +5.2% ( Minerals has made a $42/share cash bid for
ACO, according to reports ), ARNA +2.2% (speculation of GSK interest --
D+F116aily Mail).
Metals/mining stocks trading higher: IAG +5%, AG +4%, PAAS +3.7%, CDE
+2.9%, AUY +2.8%, GG +2.7%, GDX +2.4%, HL +2.1%, NEM +2%, BBL +1.9%, SLW
+1.9%, BHP +1.8%, GOLD +1.4%, GFI +1.3%, SLV +1.3%, GLD +1%.
Other news: MHR +4.8% (announces gas discovery in first Utica Shale Well
on Stalder Pad), WLT +4.6% (following CLF results), RMTI +3.8% (continued
strength), YRCW +3% (successfully refinances over $1.1 billion in senior
credit facilities), OXY +3% (to separate its California Business, creating
two independent, publicly traded energy companies), CLSN +2.4% (attributed
to positive blog mention; files for 194,986 shares common stock offering
issuable upon exercise of warrant held by Hercules Technology Growth
Capital received in connection with a term loan to celsion corporation),
AKAM +2.2% (prices private offering of $600 mln aggregate principal amount
of its convertible senior notes due 2019; offering was upsized from the
previously announced $500 mln aggregate principal amount of notes), DDD
+1.9% (still checking), SPWR +1.8% ( announces a three-year agreement to
offer high efficiency SunPower solar power systems at Meritage Homes
communities nationwide), CIEN +0.9% (Ciena announces strategic global
agreement with Ericsson (ERIC); companies to collaborate on accelerating
adoption of SDN-based open architectures), TWTR +0.7% (lifting premarket
following conference presentation; also mentioned positively in blog with
upcoming lock-up expiration).
Analyst comments: DISCA +4.7% (upgraded to Buy from Neutral at Guggenheim
), PQ +4.5% (upgraded to Outperform at FBR Capital; tgt raised to $8),
SSYS +1.5% (upgraded to Market Perform from Underperform at William
Blair), HOT +0.8% (upgraded to Buy from Neutral at UBS), AAPL +0.2%
(target raised to $590 from $575 at BofA/Merrill)