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Police in Boston, Masssachussets are investigating reports of a possible pipe bomb near south station - Boston globe
- Reminder: Today is the anniversary of the Boston bombing
Gapping down:
In reaction to disappointing earnings/guidance: LEDS -9%, PBY -5.8%, HGG -3%, INFY -1.7%, AAN -1.5% (reduces 2014 first quarter revenue and earnings guidance; estimate severe winter weather will negatively impact EPS for the quarter $0.05-0.06; also announced acquisition and sent letter to shareholders).
Select financial related names showing weakness: BCS -1.3%, NBG -1.3%, RBS -1.1%, DB -0.5%, HSBC -0.4%.
Metals/mining stocks trading lower: AU -3.1%, AUQ -2.5%, TRQ -2.0%, AUY -2%, MT -1.9%, NEM -1.7%, GG -1.6%, GLD -1.4%, GDX -1.3%, SLW -1.2%, SLV -1.1%, AEM -1.1%, PAAS -0.6%.
A few telecom related names showing early modest weakness: PT -3.3%, CHL -1.6%, ORAN -1.2%.
Other news: NQ -5.9% (continued weakness),TTM -4.2% (weakness in overseas trading), RIO -1.7% (reports Q1 iron ore shipments increases 16% YoY), NGHC -0.6% ( files for 12.82 mln share common stock offering by selling shareholders), DEO -0.1% (Diageo plc launched tender offer for up to 26% of USL).
Analyst comments: PETM -1.4% (downgraded to Underperform from Neutral at BofA/Merrill), IBM -1.1% (downgraded to Neutral from Buy at Citigroup; tgt lowered to $200 from $235), ATHN -0.6% (reinstated with a Mkt Perform from Strong Buy at Raymond James)
Select financial related names showing weakness: BCS -1.3%, NBG -1.3%, RBS -1.1%, DB -0.5%, HSBC -0.4%.
Metals/mining stocks trading lower: AU -3.1%, AUQ -2.5%, TRQ -2.0%, AUY -2%, MT -1.9%, NEM -1.7%, GG -1.6%, GLD -1.4%, GDX -1.3%, SLW -1.2%, SLV -1.1%, AEM -1.1%, PAAS -0.6%.
A few telecom related names showing early modest weakness: PT -3.3%, CHL -1.6%, ORAN -1.2%.
Other news: NQ -5.9% (continued weakness),TTM -4.2% (weakness in overseas trading), RIO -1.7% (reports Q1 iron ore shipments increases 16% YoY), NGHC -0.6% ( files for 12.82 mln share common stock offering by selling shareholders), DEO -0.1% (Diageo plc launched tender offer for up to 26% of USL).
Analyst comments: PETM -1.4% (downgraded to Underperform from Neutral at BofA/Merrill), IBM -1.1% (downgraded to Neutral from Buy at Citigroup; tgt lowered to $200 from $235), ATHN -0.6% (reinstated with a Mkt Perform from Strong Buy at Raymond James)
Gapping up:
In reaction to strong earnings/guidance: ZBRA +9.8% (guides Q1 above consensus; acquires MSI's Enterprise Business from MSI for $3.45 bln), SXT +5.8%, ETR +2.3%, KO +2.6% (also Wintergreen Advisers urges all investors to review Coca-Cola's 2014 Equity Plan before Voting), JNJ +2.1%, MSI +0.7% ( guides Q1 EPS and rev below consensus (EPS in-line with guidance); sells enterpreise business to Zebra for $3.45 bln).
M&A news: POT +1.8% (attributed to renewed BHP M&A speculation; also releases its monthly supply/demand update), JNPR +0.9% (reports out yesterday indicate co is considering mobile security sale), BBRY +1.1% ( announced an investment in healthcare IT leader NantHealth).
Select oil/gas related names showing strength: STO +1.3% (initiated with a Mkt Perform at BMO Capital Mkts), TOT +1.1%, BP +1%, RDS.A +0.6%.
3-D printing names modestly rebounding: ONVO +3.7% (comments on 'misleading and inaccurate reports'), XONE +1.5%, DDD +0.8%
Other news: WAVX +8.9% (Micron Technology (MU) and Wave Systems (WAVX) are expanding their relationship to develop solutions designed to strengthen user protection against current and emerging threats to compute and embedded platforms), SAVE +5.7% (reports Q1 ASMs at 21.0%, guides Q1 operating margin of 13.2-13.7%, FY14 of 16.0-18.0%), SGMS +2% (to replace UMPQ in the S&P SmallCap 600), PLUG +1.8% (continued momentum), GLUU +1.6% (still checking), HRB +1.6% (following positive commentary on Mad Money), UMPQ +1.5% (to replace SGMS in the S&P MidCap 400), FB +1.2% (still checking for anything specific), GALE +1.1% (files for 6 mln share common stock offering by selling shareholders), ARCW +0.9% (announces 1.5 to 1 stock dividend), HLF +0.8% (NY AG is investigating HLF over pyramid scheme allegations, according to reports), ABBV +0.8% (modestly higher following positive Barron's mention), GOOG +0.5% (Google Glass to go on sale to public today, according to reports), BAX +0.5% (following positive commentary on Mad Money), YHOO +0.4% (Yahoo! and Vevo, (JV between SNE Music and Universal) agree on music partnership deal, according to reports ), ADP +0.4% (following positive commentary on Mad Money), MRK +0.2% (FDA approves GRASTEK (Timothy Grass Pollen Allergen Extract) tablets as immunotherapy to treat grass pollen-induced allergic rhinitis with or without conjunctivitis in children and adults).
Analyst comments: HALO +6.5% (initiated with a Buy at Citigroup), MS +2.4% (upgraded to Buy from Neutral at BofA/Merrill), PIR +2% (upgraded to Overweight from Equalweight at Barclays), YHOO +1.8% (upgraded to Outperform from Neutral at Macquarie), EQIX +1.2% (upgraded to Outperform from Perform at Oppenheimer), CODE +1% (initiated with a Buy at Sterne Agee), MA +0.8% (upgraded to Buy from Neutral at Janney), DF +0.5% ( initiated with a Buy at BB&T Capital Mkts), V +0.4% (upgraded to Buy from Neutral at Janney), CERN +0.2% (resumed with a Outperform from Mkt Perform at Raymond James)
M&A news: POT +1.8% (attributed to renewed BHP M&A speculation; also releases its monthly supply/demand update), JNPR +0.9% (reports out yesterday indicate co is considering mobile security sale), BBRY +1.1% ( announced an investment in healthcare IT leader NantHealth).
Select oil/gas related names showing strength: STO +1.3% (initiated with a Mkt Perform at BMO Capital Mkts), TOT +1.1%, BP +1%, RDS.A +0.6%.
3-D printing names modestly rebounding: ONVO +3.7% (comments on 'misleading and inaccurate reports'), XONE +1.5%, DDD +0.8%
Other news: WAVX +8.9% (Micron Technology (MU) and Wave Systems (WAVX) are expanding their relationship to develop solutions designed to strengthen user protection against current and emerging threats to compute and embedded platforms), SAVE +5.7% (reports Q1 ASMs at 21.0%, guides Q1 operating margin of 13.2-13.7%, FY14 of 16.0-18.0%), SGMS +2% (to replace UMPQ in the S&P SmallCap 600), PLUG +1.8% (continued momentum), GLUU +1.6% (still checking), HRB +1.6% (following positive commentary on Mad Money), UMPQ +1.5% (to replace SGMS in the S&P MidCap 400), FB +1.2% (still checking for anything specific), GALE +1.1% (files for 6 mln share common stock offering by selling shareholders), ARCW +0.9% (announces 1.5 to 1 stock dividend), HLF +0.8% (NY AG is investigating HLF over pyramid scheme allegations, according to reports), ABBV +0.8% (modestly higher following positive Barron's mention), GOOG +0.5% (Google Glass to go on sale to public today, according to reports), BAX +0.5% (following positive commentary on Mad Money), YHOO +0.4% (Yahoo! and Vevo, (JV between SNE Music and Universal) agree on music partnership deal, according to reports ), ADP +0.4% (following positive commentary on Mad Money), MRK +0.2% (FDA approves GRASTEK (Timothy Grass Pollen Allergen Extract) tablets as immunotherapy to treat grass pollen-induced allergic rhinitis with or without conjunctivitis in children and adults).
Analyst comments: HALO +6.5% (initiated with a Buy at Citigroup), MS +2.4% (upgraded to Buy from Neutral at BofA/Merrill), PIR +2% (upgraded to Overweight from Equalweight at Barclays), YHOO +1.8% (upgraded to Outperform from Neutral at Macquarie), EQIX +1.2% (upgraded to Outperform from Perform at Oppenheimer), CODE +1% (initiated with a Buy at Sterne Agee), MA +0.8% (upgraded to Buy from Neutral at Janney), DF +0.5% ( initiated with a Buy at BB&T Capital Mkts), V +0.4% (upgraded to Buy from Neutral at Janney), CERN +0.2% (resumed with a Outperform from Mkt Perform at Raymond James)
Johnson & Johnson Inc Reports Q1 $1.54 adj v $1.48e, R$18.1B v $18.0Be- Raises FY14 $5.80-5.90 v $5.83e, Rev $B v $74.1Be (prior $5.75-5.85, Rev $73.5-74.3B on Jan 21st)
* ThyssenKrupp (TKA GY) to divest passenger boarding bridge unit
according to Manager Magazine
Early premarket gappers
Gapping up: SXT +5.8%, SGMS +2%, GLUU +1.6%, UMPQ +1.5%, STO +1.3%, GALE +1.1%, ARCW +0.9%, HLF +0.8%, ABBV +0.8%, GOOG +0.5%
Gapping down: LEDS -9%, PBY -5.8%, OIBR -4.8%, TTM -4.2%, NQ -4.1%, AU -3.1%, MT -1.9%, RIO -1.7%, INFY -1.6%, GLD -1.4%, GDX -1.3%, BCS -1.3%, IBM -1.3%, SI -1%, DEO -0.9%, NGHC -0.6%
Gapping down: LEDS -9%, PBY -5.8%, OIBR -4.8%, TTM -4.2%, NQ -4.1%, AU -3.1%, MT -1.9%, RIO -1.7%, INFY -1.6%, GLD -1.4%, GDX -1.3%, BCS -1.3%, IBM -1.3%, SI -1%, DEO -0.9%, NGHC -0.6%
Introducing 14 International E&Ps and Six Play
Types That Changed the World
We are initiating research coverage of 14 International Exploration and Production (E&P) companies in the context of a Market Perform rating for the group. Collectively, this sector is defined by its exploration and development of hydrocarbons across the globe.
We have rated the companies as follows (sorted alphabetically). OPHR and CNE are rated Outperform (S).
• Outperform ratings: Africa Oil (AOI-TSXV, AOI-OMX), BG Group (BG.-LSE), Cairn Energy (CNE-LSE), Galp Energia
(GALP-XLIS), Genel Energy (top pick GENL-LSE), Ophir Energy (OPHR-LSE), SOCO International (SIA-LSE), Tullow
Oil (TLW-LSE).
• Market Perform ratings: Afren (AFR-LSE), Kosmos Energy (KOS-NYSE), Lundin Energy (LUPE-OMX, LUPE-TSX),
Repsol (REP-BME), Premier Oil (PMO-LSE), Statoil (STL-OL).
Catalyst driven sector. When deciding our recommendations, we look for unrealised value and a portfolio of potential events such as exploration wells in basins that have follow-on potential.
Our Outperform recommendations are largely based on the probability of a positive outcome from certain stock-specific events occurring over the coming 12-15 months. However, the stocks are largely trading at or near our risked Core NAV, which is based on a sum-of-the-parts breakdown of the portfolio of assets.
Six geological play types have yielded the majority of large conventional oil and gas discoveries over the past decade. We have looked for companies with unique exposure, insight and understanding of these plays.