Gapping up
In reaction to strong earnings/guidance: GV +5.7%, SIG +4.7%, CONN +3.7% (light volume; also announces expansion of revolving credit facility by $30 mln to $880 mln), PAYX +3.3%, ECTE +2.6% (thinly traded), ACN +0.9%.
M&A related: ACET +1.4% (subsidiary to acquire 100% of the equity interests of PACK Pharmaceuticals; total transaction value is ~ $199 mln).
Financial names showing strength following second round of CCAR results: STT +2.7% (announces authorization to purchase up to $1.7 bln of its common stock; to increase dividend 15.4%), BAC +1.9% (met minimum capital requirements; to increase quarterly common stock dividend to $0.05 per share and authorizes a new $4 billion common stock repurchase program; announces settlement with FHFA and NY Attorney General), STI +1.7% (to increase quarterly dividend 100% to $0.20 from $0.10 per share; announces $450 mln share repurchase), WFC +1.4% (receives no objection to capital plan; to increase quarterly dividend 16.7% and approves 350 mln share increase in repurchase plan), PNC +1.3% (increases common stock dividend and announces $1.5 bln share repurchase program), COF +1.3% (expects to repurchase $2.5 bln of shares of common stock through the end of Q1 of 2015; plan receives no objection from the Federal Reserve), JPM +1% (plans to increase quarterly dividend to $0.40 from $0.38, effective 2Q14; announces $6.5 bln stock buyback between April 1, 2014, and March 31, 2015), HSBC +0.4% (Federal Reserve informed HSBC North America that it objects to its capital plan submitted for the 2014 Comprehensive Capital Analysis and Review (CCAR) due to weaknesses in its capital planning processes), RBS +0.2% (Federal Reserve objected to the capital plan), HBAN +0.2% (receives no objection from the Federal Reserve for proposed capital actions, including a 20% increase of the quarterly dividend and the repurchase of up to $250 mln of common stock), BK +0.1% (to repurchase up to $1.74 billion of common stock; Federal Reserve does not object to 2014 capital plan, including proposed 13% dividend increase), GS slightly higher (met minimum capital requirements after submitting adjusted capital actions; issues statement on proposed capital actions).
A few oil/gas related names showing strength: STO +1.6%, SN +1.6%, UPL +1.1%, BP +0.7%, TOT +0.6%.
Battery related names are trading higher: CPST +8.1% (following Wal-Mart 'futuristic truck' debut - prototype includes Capstone), BLDP +7.9%, FCEL +1.7%
Other news: BAX +17.7% (plans to Create Two Separate Global Healthcare Companies; Independent Companies Will Focus On Biopharmaceuticals And Medical Products), DEJ +14.3% (expands operations in NE B.C. with strategic production and facilities acquisition), SPEX +11.6% (Spherix commences federal litigation against Cisco (CSCO) - sues Cisco for patent infringement; Spherix seeks damages and asserts that over $43 bln of Cisco's sales infringe on patents owned by Spherix), CLVS +11% (Clovis Oncology Oncology's CO-1686 demonstrates compelling clinical activity and Progression-free Survival in updated Phase 1 Study results in patients with non-small cell lung cancer), LITB +9.1% (still checking), ALU +8.4% (selected by China Mobile for strategic transformation to all-IP ultra-broadband network), EXEL +5.1% (modestly rebounding), FN +4.9% (to replace FEIC in the S&P SmallCap 600), AMRI +2.5% (to replace SUPX in the S&P SmallCap 600), HCLP +2.3% (positive commentary on Mad Money), FMC +2.2% (positive commentary on Mad Money), FEIC +2% (FEIC to replace BRE in the S&P MidCap 400), WLH +1.9% (prices 2 mln shares of common stock by selling shareholders at $27.25 per share), ESS +1.3% ( ESS to replace CLF in the S&P 500), TWTR +1.3% ( plans to announce new music strategy, according to reports), AA +1.2% (still checking), GOOG +0.2% (discloses transfer restriction agreement with execs).
Analyst comments: EXTR +2.9% (initiated with an Outperform at Raymond James), PVH +0.9% (added to Conviction Buy list at Goldman), NYT +0.8% (upgraded to Overweight from Equal Weight at Evercore ), AMGN +0.2% (initiated with a Overweight at Morgan Stanley)
M&A related: ACET +1.4% (subsidiary to acquire 100% of the equity interests of PACK Pharmaceuticals; total transaction value is ~ $199 mln).
Financial names showing strength following second round of CCAR results: STT +2.7% (announces authorization to purchase up to $1.7 bln of its common stock; to increase dividend 15.4%), BAC +1.9% (met minimum capital requirements; to increase quarterly common stock dividend to $0.05 per share and authorizes a new $4 billion common stock repurchase program; announces settlement with FHFA and NY Attorney General), STI +1.7% (to increase quarterly dividend 100% to $0.20 from $0.10 per share; announces $450 mln share repurchase), WFC +1.4% (receives no objection to capital plan; to increase quarterly dividend 16.7% and approves 350 mln share increase in repurchase plan), PNC +1.3% (increases common stock dividend and announces $1.5 bln share repurchase program), COF +1.3% (expects to repurchase $2.5 bln of shares of common stock through the end of Q1 of 2015; plan receives no objection from the Federal Reserve), JPM +1% (plans to increase quarterly dividend to $0.40 from $0.38, effective 2Q14; announces $6.5 bln stock buyback between April 1, 2014, and March 31, 2015), HSBC +0.4% (Federal Reserve informed HSBC North America that it objects to its capital plan submitted for the 2014 Comprehensive Capital Analysis and Review (CCAR) due to weaknesses in its capital planning processes), RBS +0.2% (Federal Reserve objected to the capital plan), HBAN +0.2% (receives no objection from the Federal Reserve for proposed capital actions, including a 20% increase of the quarterly dividend and the repurchase of up to $250 mln of common stock), BK +0.1% (to repurchase up to $1.74 billion of common stock; Federal Reserve does not object to 2014 capital plan, including proposed 13% dividend increase), GS slightly higher (met minimum capital requirements after submitting adjusted capital actions; issues statement on proposed capital actions).
A few oil/gas related names showing strength: STO +1.6%, SN +1.6%, UPL +1.1%, BP +0.7%, TOT +0.6%.
Battery related names are trading higher: CPST +8.1% (following Wal-Mart 'futuristic truck' debut - prototype includes Capstone), BLDP +7.9%, FCEL +1.7%
Other news: BAX +17.7% (plans to Create Two Separate Global Healthcare Companies; Independent Companies Will Focus On Biopharmaceuticals And Medical Products), DEJ +14.3% (expands operations in NE B.C. with strategic production and facilities acquisition), SPEX +11.6% (Spherix commences federal litigation against Cisco (CSCO) - sues Cisco for patent infringement; Spherix seeks damages and asserts that over $43 bln of Cisco's sales infringe on patents owned by Spherix), CLVS +11% (Clovis Oncology Oncology's CO-1686 demonstrates compelling clinical activity and Progression-free Survival in updated Phase 1 Study results in patients with non-small cell lung cancer), LITB +9.1% (still checking), ALU +8.4% (selected by China Mobile for strategic transformation to all-IP ultra-broadband network), EXEL +5.1% (modestly rebounding), FN +4.9% (to replace FEIC in the S&P SmallCap 600), AMRI +2.5% (to replace SUPX in the S&P SmallCap 600), HCLP +2.3% (positive commentary on Mad Money), FMC +2.2% (positive commentary on Mad Money), FEIC +2% (FEIC to replace BRE in the S&P MidCap 400), WLH +1.9% (prices 2 mln shares of common stock by selling shareholders at $27.25 per share), ESS +1.3% ( ESS to replace CLF in the S&P 500), TWTR +1.3% ( plans to announce new music strategy, according to reports), AA +1.2% (still checking), GOOG +0.2% (discloses transfer restriction agreement with execs).
Analyst comments: EXTR +2.9% (initiated with an Outperform at Raymond James), PVH +0.9% (added to Conviction Buy list at Goldman), NYT +0.8% (upgraded to Overweight from Equal Weight at Evercore ), AMGN +0.2% (initiated with a Overweight at Morgan Stanley)