Gapping up:
In reaction to strong earnings/guidance:
- PRGS +6.2%, CAFD +3.9%, STZ +2.2%, MKC +1.3%
M&A news:
- TTHI +107.1% (to be acquired by OPKO Health (OPK) for 6.4 mln shares of OPK, or $1.55 per share),
- STRZA +15%, LGF +9.8%, (Starz to be acquired by Lionsgate (LGF) for $4.4 bln in cash/stock, or ~$32.73 per share),
- BUD +2.8% (Anheuser-Busch InBev receives regulatory clearance in South Africa for its merger with SABMiller (SBMRY)),
-
VNET +2% (announces receipt of withdrawal of Buyer group's 'going private' proposal; separately, announces $200 mln share repurchase program), .
Select financial related names showing strength following CCAR:
- CIT +6% (to sell its Canadian equipment finance & corporate finance biz to Laurentian Bank of Canada for $700 mln),
- ALLY +4.7% (Ally Financial announces $0.08 quarterly dividend and $700 mln buyback following passage of CCAR review ),
- BK +1.7% (BNY Mellon to repurchase up to $2.7 billion of common stock; Federal Reserve does not object to 2016 capital plan, including proposed dividend increase),
- RF +1.4% (announces continuation of $0.065 quarterly dividend and possible $640 million buyback following CCAR ),
- HBAN +1.1% (Huntington Banc receives no objection from Federal Reserve for proposed capital actions, including increase of the quarterly dividend to $0.08 per share in 4Q16),
- USB +1% (receives results of CCAR; Federal Reserve did not object to company's capital distribution plan),
- C +0.9% (announces 2016 planned capital actions; Federal Reserve Board does not object to the planned capital actions ),
- BAC +0.9% (confirms CCAR plan in 8-K; increases dividend 50% to $0.075; announces $5 bln share repurchase )
Select metals/mining stocks trading higher despite mixed moves in metals: GOLD +3.9%, BBL +3.4%, BHP +2.7%,RIO +2.5%, AUY +1.9%, FCX +1.2%, VALE +1%, CLF +0.8%
Other news:
Other news:
- CRCM +43.4% (Care.com announces $46.35 mln investment from Alphabet- Laela Sturdy, a Partner at Google Capital, will join its Board; co repurchases 3.7 mln shares from Matrix Partners),
- NGHC +18.8% (National General prices 7 mln depositary shares, each representing a 1/40th interest in a share of its series C 7.50% non-cumulative preferred stock at $25 per depositary share),
- AKER +16.2% (completes clinical trial for rapid chlamydia test; co states results were highly successful),
- MBLY +9.4% (Bloomberg reported that Mobileye has partnered with Intel (INTC) to develop autonomous driving tech for BMW, also shareholders approve proposal to repurchase up to 10% of the co's stock ),
- GBSN +8.6% (agrees to issue $75 mln in principal face amount of senior secured convertible notes and related Series H common stock purchase warrants),
- SGY +6.9% (Stone Energy to terminate its current contract with Ensco (ESV) for total consideration of $20 million; separately, enters an agreement with Williams at the Mary field in Appalachia),
- CDXC +5.4% (announces article Bleecker Street Research published on Seeking Alpha on June 20 has been removed and replaced with an apology from the author),
- SSTK +5.3% (will replace Southwest Gas in S&P SmallCap 600),
- CPHD +1.2% (FDA cleared for marketing the Xpert Carba-R Assay - first test to detect specific genetic markers for certain antibiotic-resistant bacteria directly from clinical specimens),
- AA +1.2% (receives contract w/ Embraer (ERJ) valued at ~$470 mln)
Analyst comments:
- SSNI +3.4% (upgraded to Strong Buy from Outperform at Raymond James),
- PENN +2.4% (upgraded to Outperform from Neutral at Macquarie),
- PCLN +2.3% (upgraded to Overweight from Equal-Weight at Morgan Stanley),
- AUY +1.9% (upgraded to Outperform from Neutral at Credit Suisse),
- IAG +1.7% (upgraded to Neutral from Underperform at Credit Suisse),
- NOK +1.3% (upgraded to Buy from Neutral at Goldman),
- SLW +1% (upgraded to Outperform from Neutral at Credit Suisse)