OXY - Hearing takeover chatter circulating - Exxon rumored as potential suitor, price chatter in the low $80s
Open Outcrier @OpenOutcrier
$FCX Hearing Vague $RIO chatter, unconfirmed
Gapping down
In reaction to disappointing earnings/guidance: FRAN -19.2%, PESI -17.3%, AEGR -14.3%, VOXX -7.9%, RLGT -4.2%, CHCI -2.2%, NAVB -2.1%, PRGO -2%, ESLT -1.9%, LOV -1.8%, HD -0.6%
Other news: LC -11.2% (discloses in 10Q receipt of a grand jury subpoena from the DOJ), WNRL -8.1% (prices 3.75 mln common units at $21.73), WWE -5% (Vincent McMahon 2013 Irrev. Trust sells 2,191,894 shares in block trade), RLYP -4.9% (discloses new patient starts, outpatient prescriptions and units sold to hospitals/other institutions for April for Veltassa), EBIO -4.7% (still checking), BETR -2.3% (commences 10 mln common stock offering by selling stockholders), BECN -2.3% (commences ~8.5 mln common stock offering by selling stockholder CD&R Roadhouse Holdings, L.P., an entity affiliated with Clayton, Dubilier & Rice), DLR -1.9% (prices 12.5 mln shares of common stock at $96.00 per share), WBA -1.4% (CNBC'c David Faber: 'Goldman selling 6m shares of $WBA at $77.65 for top ten holder. 1.5% discount to close'), STOR -0.8% (upsizes and prices offering of 10.75 mln shares of common stock at $25.60)
Analyst comments: DGI -1.8% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
In reaction to disappointing earnings/guidance: FRAN -19.2%, PESI -17.3%, AEGR -14.3%, VOXX -7.9%, RLGT -4.2%, CHCI -2.2%, NAVB -2.1%, PRGO -2%, ESLT -1.9%, LOV -1.8%, HD -0.6%
Other news: LC -11.2% (discloses in 10Q receipt of a grand jury subpoena from the DOJ), WNRL -8.1% (prices 3.75 mln common units at $21.73), WWE -5% (Vincent McMahon 2013 Irrev. Trust sells 2,191,894 shares in block trade), RLYP -4.9% (discloses new patient starts, outpatient prescriptions and units sold to hospitals/other institutions for April for Veltassa), EBIO -4.7% (still checking), BETR -2.3% (commences 10 mln common stock offering by selling stockholders), BECN -2.3% (commences ~8.5 mln common stock offering by selling stockholder CD&R Roadhouse Holdings, L.P., an entity affiliated with Clayton, Dubilier & Rice), DLR -1.9% (prices 12.5 mln shares of common stock at $96.00 per share), WBA -1.4% (CNBC'c David Faber: 'Goldman selling 6m shares of $WBA at $77.65 for top ten holder. 1.5% discount to close'), STOR -0.8% (upsizes and prices offering of 10.75 mln shares of common stock at $25.60)
Analyst comments: DGI -1.8% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
Gapping up
In reaction to strong earnings/guidance: PTN +25.5%, GALT +9.3%, AYA +7.4%, KGJI +6.5%, PLCE +6.3%, MOMO +4.9%, A +4.2%, RENN +4.1%, HIMX +3.1%, TJX +3.0%, MXPT +2.5%, MTH +2.4%, VOD +2.4%, ATV +2.3%, ARP +2.2%, CYRN +1.7%, AKRX +1.6%, AMCN +1.6%, ASM +1.2%
M&A news: NQ +13% (enters definitive agreement for the sale of its entire stake in FL Mobile Jiutian Technology to Shenzhen Prince New Materials for an all-cash consideration of RMB 3243.5 mln), DANG +3.9% (receives revised going-private offer from Chairwoman and CEO for $6.50/share (Lowered from $7.812/share))
Select metals/mining stocks trading higher: VALE +2.6%, AG +2.4%, FCX +1.9%, MUX +1.9%, CLF +1.7%, BHP +1.6%, BBL +1.5%, RIO +0.8%
Select oil/gas related names showing strength: SDRL +1.9%, CHK +1.5%, PBR +1.4%, MRO +0.9%, WLL +0.8%
Other news: NETE +67.1% (opted to exchange the second tranche in the aggregate amount of $250k for 917,431 shares of common stock; co also provided Q1 results in 10-Q), NQ +13% (enters definitive agreement for the sale of its entire stake in FL Mobile Jiutian Technology to Shenzhen Prince New Materials for an all-cash consideration of RMB 3243.5 mln), GALT +9.9% (announces 'positive' interim results from Phase 2a clinical trial with GR-MD-02), BSI +8.5% (Court decision to uphold decision by Trustees of Mega Retail to sell Mega Retail to Bitan Wines), P +4.5% (Corvex Management discloses 9.95% active stake; issues letter to shareholders), CYTX +4.1% (will present an update regarding the use of its Cytori CEll Therapy in the French SCLERADEC I and II clinical trials), VRX +2.5% (updates on regulator matters; continues to expect to make the Canadian Required Filings on or before June 10, 2016)
Analyst comments: FCX +2.1% (upgraded to Buy from Hold at Jefferies), AIG +0.8% (upgraded to Outperform from Market Perform at Wells Fargo), HSBC +0.8% (upgraded to Buy from Hold at Investec), MCHP +0.7% (initiated with a Buy at Credit Agricole)
In reaction to strong earnings/guidance: PTN +25.5%, GALT +9.3%, AYA +7.4%, KGJI +6.5%, PLCE +6.3%, MOMO +4.9%, A +4.2%, RENN +4.1%, HIMX +3.1%, TJX +3.0%, MXPT +2.5%, MTH +2.4%, VOD +2.4%, ATV +2.3%, ARP +2.2%, CYRN +1.7%, AKRX +1.6%, AMCN +1.6%, ASM +1.2%
M&A news: NQ +13% (enters definitive agreement for the sale of its entire stake in FL Mobile Jiutian Technology to Shenzhen Prince New Materials for an all-cash consideration of RMB 3243.5 mln), DANG +3.9% (receives revised going-private offer from Chairwoman and CEO for $6.50/share (Lowered from $7.812/share))
Select metals/mining stocks trading higher: VALE +2.6%, AG +2.4%, FCX +1.9%, MUX +1.9%, CLF +1.7%, BHP +1.6%, BBL +1.5%, RIO +0.8%
Select oil/gas related names showing strength: SDRL +1.9%, CHK +1.5%, PBR +1.4%, MRO +0.9%, WLL +0.8%
Other news: NETE +67.1% (opted to exchange the second tranche in the aggregate amount of $250k for 917,431 shares of common stock; co also provided Q1 results in 10-Q), NQ +13% (enters definitive agreement for the sale of its entire stake in FL Mobile Jiutian Technology to Shenzhen Prince New Materials for an all-cash consideration of RMB 3243.5 mln), GALT +9.9% (announces 'positive' interim results from Phase 2a clinical trial with GR-MD-02), BSI +8.5% (Court decision to uphold decision by Trustees of Mega Retail to sell Mega Retail to Bitan Wines), P +4.5% (Corvex Management discloses 9.95% active stake; issues letter to shareholders), CYTX +4.1% (will present an update regarding the use of its Cytori CEll Therapy in the French SCLERADEC I and II clinical trials), VRX +2.5% (updates on regulator matters; continues to expect to make the Canadian Required Filings on or before June 10, 2016)
Analyst comments: FCX +2.1% (upgraded to Buy from Hold at Jefferies), AIG +0.8% (upgraded to Outperform from Market Perform at Wells Fargo), HSBC +0.8% (upgraded to Buy from Hold at Investec), MCHP +0.7% (initiated with a Buy at Credit Agricole)
May 17, 2016
MAKOR - Tech view: Euro Stoxx 50, Dax30, S&P500, & EUR/USD.
Euro Stoxx 50 Index (2953 last)– while above 2860 prefer the bullish case
The recent higher low at 2860 is the most important support level and while above it the main risk is for a move higher. A daily close back above the 55dma at 3,014 will be a bullish sign that will increase the odds that this current consolidation will end up with an upside breakout. The 200dma at 3156 would be the 1st ideal target and above it the 3,300 area which is where the trend line connecting the highs stands and an equivalent A, B, C target.
Support: 2,893 & 2860
Resistance: 3,014, 3,156 & 3,316
Strategy: Buy 1 unit at mkt price, target 3,300 with a stop loss on a close below 2890.
Daily chart
Dax Index (9,970 last) – as long as above 9,484 / 9,737 target is 10,600 / 10,650
The Index is trading above the rising trend line connecting the lows since February 2016. The Index also holds the path of higher highs and higher lows. The recent higher low is 9,484 and while above it the trend remains clearly to the upside (in terms of price). The 200dma at 10,169 is the 1st resistance level. A sustain move above the 200dma would argue for a move towards 10,474 and then channel resistance which stands at 10,600-10,650.0
Support: 9,737 & 9,484
Resistance: 10,169, 10,474 & 10,600/10,650
Daily chart
S&P 500 Index (2066 last) – Bullish base above 2039, target 2176!
The Index is trading in a clear up trend channel. The channel support stands at around 2042 and last week low stands at 2039 and therefor while above 2039-42 another leg higher is our preferred scenario. Also from an Elliot wave perspective, last week low marks the bottom of wave 4. If wave 5 will equal wave 1 then the target of wave 5 is 2176.
Support: 2039-42 & 2012
Resistance: 2084, 2,111 & 2,134
Strategy: Buy 1 unit at mkt price, target 3,300 with a stop loss on a close below 2890.
Daily chart
EUR/USD (1.1321 last) – Bearish case below 1.1616
The CCY pair is possibly trading in some kind of consolidation pattern. The pattern is likely to be made of 5 waves and we are currently in wave 4 (d). the top of wave 3 (c wave) is 1.1616 and while below it we believe a move lower towards 1.08 is likely.
Support: 1.1279, 1.1217 & 1.11Resistance: 1.1355, 1.1447 & 1.1616
Strategy: Short 1 unit from mkt price, target 1.0805 with a stop at 1.1620.
Daily chart
Weekly Chart
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Early premarket gappers
Gapping up: NETE +74.5%, GALT +19.2%, AYA +11%, PLCE +7.7%, KGJI +6.5%, CLF +5.4%, RENN +4.1%, A +3.6%, SDRL +2.8%, VRX +2.6%, VALE +2.6%, MXPT +2.5%, MOMO +2.4%, MTH +2.4%, MT +2.3%, ATV +2.3%, P +2.2%, ARP +2.2%, AMCN +2%, FCX +1.9%, MUX +1.9%, LYG +1.8%, BHP +1.7%, CYRN +1.7%, AKRX +1.6%, CHK +1.5%, PBR +1.4%, BBL +1.2%, ASM +1.2%, AG +1%, WLL +1%, RIO +1%, HD +1%, BCS +0.8%, MRO +0.5%
Gapping down: LC -12.4%, VOXX -7.9%, WNRL -7.7%, RLYP -6.5%, AEGR -5.2%, BETR -4.5%, PRGO -4.5%, PRGO -4.5%, RLGT -4.2%, GFI -3.4%, EBIO -2.3%, WWE -2.2%, CHCI -2.2%, LOV -1.8%, BECN -1.4%, STOR -1.3%, GG -0.8%, WBA -0.7%, RDS.A -0.5%
Gapping down: LC -12.4%, VOXX -7.9%, WNRL -7.7%, RLYP -6.5%, AEGR -5.2%, BETR -4.5%, PRGO -4.5%, PRGO -4.5%, RLGT -4.2%, GFI -3.4%, EBIO -2.3%, WWE -2.2%, CHCI -2.2%, LOV -1.8%, BECN -1.4%, STOR -1.3%, GG -0.8%, WBA -0.7%, RDS.A -0.5%
RTRS - JAPAN BREWER ASAHI PRESIDENT SAYS LOOKING FOR ACQUISITION OPPORTUNITIES GLOBALLY