Gapping up
In reaction to strong earnings/guidance:
In reaction to strong earnings/guidance:
- LOGI +13.6%, STX +12.9%, TEL +4.2%, MKTX +4.2%, ROK +4.2%, CREE +3.9%, USAP +3.3%, NAP +3.3%, SAN +2.7%, AA +2.6%, NVS +2%
- UCBI +1.9%, ISRG +1.3%, ISRG +1.3%, (also enters into $2.0 bln accelerated share repurchase program), RO; +1.2%,NSC +1.2%, HBAN +1.1%
- OKSB +0.9%, BA +0.8%, TXN +0.7%, (also promotes Brian Crutcher to COO)
M&A news:
- ACAT +41.1% (to be acquired by Textron (TXT) for $18.50/share in cash)
- NEWR +22.4% (peer of AppDynamics (APPD); following CSCO acquisition of APPD)
- BOBE +12.8% (Bob Evans to sell Bob Evans Restaurants, will acquire Pineland Farms Potato Company; reaffirms FY17 guidance)
- HK +4.1% (confirms purchase/sale agreement to enter Southern Delaware Basin for $705 mln; offers prelim FY17 guidance)
- CXO +2.8% (Concho Resources confirms sale of 100% of their respective ownership interests of Alpha Holding Company to Plains All American Pipeline for a combined total of $1.215 billion)
- CSCO +0.5% (AppDynamics to be acquired by Cisco (CSCO) for approximately $3.7 bln in cash and assumed equity awards)
Select EU financial related names showing strength following SAN earnings:
- BBVA +3.3%, DB +2.8%, CS +2.3%, ING +1.9%, BCS +1.7%, PUK +1.6%, LYG +1.5%, HSBC +1.4%, .
Select STX/industry peers showing strength after STX earnings:
- WDC +5.8%, AMD +2.9%, MU +2%, NVDA +1.1%
Other news:
- CDTI +23.7% (partnered with DENSO to provide its technology to the North American heavy-duty market )
- TEAR +21.5% (receives approval for the TearLab Osmolarity System from the Comisión Federal para la Protección contra Riesgos Sanitarios in Mexico)
- XXIA +7.3% (in discussions to be acquired by Keysight Technologies (KEYS), according to Reuters),
- AHP +3.4% (ticking higher; enters into an amended and restated advisory agreement with Ashford; refinances three mortgage loans with existing outstanding balances totaling approximately $334 million; increases quarterly dividend)
- QTM +3.3% (following STX earnings/guidance)
- BLDP +3% (signed an initial Equipment Sales Agreement with Zhuhai Yinlong Energy Group for 10 FCveloCity-MD 30-kilowatt fuel cell engines),
- ACX +2.7% (CEMEX S.A. and Grupo Cementos de Chihuahua announce offering to sell up to 23% Stake in Grupo Cementos de Chihuahua)
- TGI +2.4% (Triumph Group will replace LogMeIn in the S&P SmallCap 600; awarded $52 mln contract from Rolls Royce for Trent XWB engine components)
- MMP +2.4% (increases quarterly distribution to $0.855/unit from $0.8375/unit)
- RAD +2.3% (slightly rebounding following late volatility y'day on Walgreens merger concerns)
- GNW +1.7% ( to report Q4 results on February 7; does not plan to host an earnings call due to the pending sale to China Oceanwide)
- PTEN +1.5% (commences an underwritten public offering of 14,800,000 shares of common stock )
- ALV +1.5% (continued strength - speculation y'day co may bid on Takata)
- RH +1.2% (Bioverativ will replace RH in the S&P MidCap 400, and RH will replace Ciber in the S&P SmallCap 600)
Analyst comments:
- JBLU +2.8% (upgraded to Overweight from Neutral at JP Morgan)
- ABB +2.2% (upgraded to Outperform from Sector Perform at RBC Capital Mkts)
- ONVO +1.7% (initiated with a Outperform at Raymond James)
- FTI +1.4% (initiated with a Outperform at Credit Suisse)
- BT +0.9% (upgraded to Neutral from Underperform at Macquarie )
- PSXP +0.8% (upgraded to Buy from Neutral at Citigroup)