Gapping up
In reaction to strong earnings/guidance: UCTT +21.4% (also discloses that COO will resign, effective on or about March 10, 2014), CG +11.4%, ZBRA +8.6%, GRMN +7.7%, COLM +7.1%, NOR +6.9%, ORIG +5.5%, HL +5.3% (also reports record silver and gold reserves: Silver reserves increase by 13% and gold reserves by 190% over 12/31/12), HSTM +4.6% (light volume), LL +4.2%, CF +3.9%, NBR +2.6%, SAVE +1.6%, ADI +1.5% (also increases quarterly cash dividend 9% to $0.37 per share from $0.34 per share and increases share buyback authorization to $1 bln), HLF +1.5%, SAH +1.4% (light volume), MGM +1.1%, HST +0.7% (light volume), DRYS +0.5%.
M&A news: ZLC +40.2% and SIG +18.4% (Zale and Signet Jewelers confirm agreement for Signet to acquire all of the issued and outstanding stock of Zale for $21.00 per share in cash consideration).
Other news: CHTP +37.4% ( confirms FDA accelerated approval of NORTHERA (droxidopa) for the treatment of symptomatic NOH), CRDS +11.6% ( files patent infringement suits against Cisco, NetApp, and Quantum), CAK +7.5% (announces FPSO Contract for Production Operations Offshore Nigeria), LLY +2.5% (announces Ramucirumab Phase III Lung cancer trial meets primary endpoint of overall survival), USU +1.9% (late spike on DoE approval of nuclear backing; disclosed details with amendment to Doe cooperative agreement - provides funding for a cost-share RD&D program ), URRE +1.4% (late spike on DoE approval of nuclear backing), ISIS +1.2% (still checking), GG +1.1% (announces extension of date to acquire common shares of Osisko Mining Corporation), MDBX +0.7% (modestly rebounding following exec comments on CNBC), JOSB +0.7% ( announces commencement of tender offer to repurchase up to $300 mln in value of shares of its common stock at price of $65.00 per share), RDS.A +0.2% ( sold some downstream assets to Abu Dhabi Investment Council and others for ~$2.4 bln, according to reports).
Analyst comments: ACT +2.9% (upgraded to Buy from Neutral at Goldman; tgt to $235 from $200 at BofA/Merrill; Barron's profiles positive view), G +2.5% (upgraded to Buy from Neutral at Citigroup), URI +1% (initiated with a Buy at Stifel), GOGO +1% (upgraded to Overweight from Equal Weight at Evercore ), M +0.7% (initiated with a Buy at Citigroup; tgt $63)