Gapping up
In reaction to strong earnings/guidance: KRG +10.6% (also announces $2.1 bln stock for stock merger with Diversified Real Estate Trust; KRG reports FFO in-line, beats on revs; guides FY14 FFO in-line), CNA +8.4%, (ticking higher), SFUN +8%, DKS +6.7%, SXT +3.7%, (ticking higher), MPAA +2.4%, MCD +0.3% .
M&A news: SUPX +36.2% (Supertex to be acquired by MCHP for $33 per share in cash), AMAP +31.8% (Alibaba files amended 13D indicating Alibaba submitted a non-binding proposal for a going private transaction for $21 per ADS), HWG +26.9% (Hallwood Group announces $3.00 per share increase in merger consideration and settlement of related class action), ANEN +0.5% (shareholders approve merger agreement with affiliate of Veritas Capital ), ATI +0.4% (has acquired Dynamic Flowform Corp; financial terms not disclosed).
Select metals/mining stocks trading higher: AZC +18.4% (Augusta Resource responds to announcement by Hudbay Minerals), AUY +2%, NEM +2%, AU +1.8% (AngloGold Ashanti enters into agreement to sell Navachab mine; The agreement provides for an upfront consideration based on an enterprise value of US$110 mln ), EGO +1.6%, GDX +1.6%, HL +1.6%, SLV +1.2%, PAAS +1.1%, CLF +1% ( positive mention on Mad Money), GOLD +0.8%, GLD +0.7%, SUPX +36.2%, .
Other news: JRCC +20.3% (announces exploration of strategic alternatives and amendment to its revolving credit facility ), PLUG +12.9% (receives multi-site GenKey order; first site is expected to be operational in the second quarter of 2014 ), KNDI +7.4% (China plans to extend electric car subsidies until after 2015, according to reports ), YELP +5.1% (Yelp to partner with Yahoo (YHOO) on local search results, according to reports), MONT +4.3% (responds to allegations in Gravity Research Report -- defends sales model and revenue reporting), NBG +3.8% (still checking), BEBE +3.3% ( has hired advisers on possible sale, according to reports ), ARNA +3.3% (reports coverage for BELVIQ CIV now greater than 50% of insured commercial lives ), RSH +3.3% (mentioned positively in CNBC story), TTM +2.4% (still checking), ECOM +1.6% ( positive mention on Mad Money), BCS +1.4% ( plans to examine data theft from 27K customers, according to reports), SNY +1.2% (still checking), SNPS +1.1% (acquires Target Compiler Technologies), ACI +1% (has sold ADDCAR Systems, L.L.C. to UGM Holdings Pty. Ltd. for a total of $21 million), AAL +0.6% (reports January RPMs were up 3.8% y/y).
Analyst comments: STJ +2.1% (upgraded to Buy at Stifel; upgraded to Outperform from Mkt Perform at William Blair ), LH +2% ( upgraded to Buy from Hold at Deutsche Bank), TXRH +1.7% (Texas Roadhouse upgraded to Strong Buy from Outperform at Raymond James ), CNK +1.4% (upgraded to Overweight from Neutral at JP Morgan), ICPT +1% (tgt to $493 from $449 at Wedbush), AXP +0.7% (upgraded to Overweight from Equal-Weight at Morgan Stanley), BIN +0.7% ( upgraded to Buy from Hold at Canaccord Genuity), WFM +0.6% (Whole Foods upgraded to Buy from Hold at BB&T)