Gapping up
In reaction to strong earnings/guidance: AMBA +10.1%, BV +8.5%, AVGO +7.2%, GPS +3.9%, COO +3%, SHOS +2.3%, FIVE +1.8%, SB +1%, OESX +0.8%
M&A news: AVH +32.8% (being weighed as a potential acquisition by United (UAL) & Delta (DAL), according to the WSJ), TLN +15.1% (to be acquired by Riverstone for $14.00/share in cash in a transaction valued at $5.2 bln, agreement provides for a go-shop period), NRF +5% (NorthStar Asset Mgmt, Colony Capital (CLNY), and NorthStar Realty Finance (NRF) confirm entry into all-stock merger of equals), NSAM +4.1% (NorthStar Asset Mgmt, Colony Capital (CLNY), and NorthStar Realty Finance (NRF) confirm entry into all-stock merger of equals), CLNY +3.5%
Select metals/mining stocks trading higher: IAG +7.7%, FCX +1.9%, MT +1.8%
Other news: NURO +11.1% (enters into securities purchase agreement with an institutional investor in connection with a 21,300 share private placement of series C convertible preferred stock at $1,000/share for gross proceeds of $21.3 mln), RETA +3.9% (Novo A/S (NVO) discloses 35.7% active stake), GPRO +2.7% (in sympathy with AMBA), TWTR +1.1% (met with Yahoo (YHOO) to discuss a possible merger, but talks never advanced past an early stage, according to the NYPost), BP +0.9% (settles GoM explosion Securities Litigation for $175 mln), ADPT +0.9% (prices offering of 2.45 mln shares by co and selling shareholders at $62.00 per share)
Analyst comments: GWPH +4.9% (initiated with Buy at Canter Fitzgerald), SHPG +2.2% (resumed with an Overweight at Morgan Stanley), WFT +1.9% (upgraded to Overweight from Neutral at Piper Jaffray), UNP +1.2% (upgraded to Overweight from Equal-Weight at Morgan Stanley), DE +0.9% (upgraded to Buy from Neutral at Goldman), WUBA +0.5% (initiated with a Buy at Brean Capital)