>>> US Gapping down


Gapping down
In reaction to disappointing earnings/guidance: XXIA -14.3%, ESV -6.5%, (announces prelim financial info for Q1; commences underwritten public offering of 50 mln ordinary shares ), AGX -6.5%

M&A news: RLYP -8.3% (reports that the company dismissed its M&A advisor Centerview), MITL -1% (acquires PLCM for $13.68 per share)

Select oil/gas related names showing early weakness: WLL -4.4%, RIG -2.8%, CHK -2.2%, RIG -2.1%, BP -1.3%, TOT -1.2%, E -1%, XOM -0.5%

Other news: MEMP -18.1% (redetermination resulted in a revised borrowing base of $925 million, a decrease of 21% from the previous level of $1,175 mln; amends credit facility ), ESV -6.5% ( commences underwritten public offering of 50 mln ordinary shares ), OSIR -4.9% ( terminates Chief Medical Officer, Jon Hopper), STON -3.7% (announces 2 mln unit offering), SNY -1.7% (modest pullback following recent strength), NM -1.5% (Navios Maritime and Navios Maritime Acquisition Corp (NNA) terminate loan agreement), NKE -1.2% (may be attributed to cautious footwear commentary at Cowen), UA -1.2% (may be attributed to cautious footwear commentary at Cowen)

Analyst comments: DDD -4% (downgraded to Sell from Neutral at Citigroup), FL -2.3% (downgraded to Market Perform from Outperform at Cowen), BGG -2.3% (downgraded to Neutral at Robert W. Baird on valuation)

>>> US Gapping up

Gapping up

Gapping up
In reaction to strong earnings/guidance: GBSN +64.5%, CNET +15.4%, CHKE +7.9%, INFY +5.4%, RF +3.2%, C +2.9%, CUBI +2%, MESG +0.9%

M&A news: PLCM +2.9% (Polycom to be acquired by Mitel (MITL) in a cash & stock transaction valued at ~$1.96 bln or $13.68 per share)

Select metals/mining stocks trading higher: IAG +1.9%, ABX +1.4%, GDX +1.3%, NEM +1.2%, GOLD +1.2%

Other news: SUNE +23% (Vivint Solar at Investor Day, noted the SUNE merger created a lot of volatility in 2H sales), EBIO +9% (still checking), ARIA +6.8% (presents updated phase 1/2 clinical data on Brigatinib in patients with ALK+ ), VSLR +5% (Vivint Solar provides update in presentation for its Investor Day), ATHM +4.4% (Telstra (TLSYY) to sell 47.7% stake in Autohome for $1.6 bln to Ping An Insurance Group), AFCO +3.1% (American Farmland announces review of strategic alternatives; retained financial advisors), STM +2.9% (may be in sympathy with MU upgrade), TSM +2.5% (may be in sympathy with MU upgrade), MRNS +1.9% (granted orphan designation by the FDA for ganaxolone for the treatment of status epilepticus), DEPO +1.7% (decides not to pursue reincorporation proposed by Starboard; Starboard Value issues statement in response ), VRX +1.2% (reviewing options with investment banks as private equity firms express interest in its units, according to Reuters), DYN +0.9% (reports it bid 2,197 MW into the MISO capacity auction for the 2016/17 planning year)

Analyst comments: MU +2.4% (upgraded to Strong Buy from Outperform at Raymond James), JBLU +1.9% (upgraded to Overweight from Equal Weight at Barclays), MITK +1.7% (initiated with a Buy at ROTH Capital)

>>> Greek Banks Rallying EuroBank +8.39% Alpha +4.65% Piraeus+13.3%

*ECB SPOKESMAN SAYS GREEK BANKS' EFSF BONDS ON QE-ELIGIBLE LIST

*ECB SPOKESMAN COMMENTS BY PHONE ON GREEK BANKS' EFSF BONDS

ECB is planning to acquire 25% of Greek banks’ EFSF bonds, within its QE program. The move is seen leading banks to report accounting profits of c. €800m-1bn from the buy-back and the revaluation of the remaining bonds. Note
that as of 4Q15, banks held in total EUR 43bn of EFSF / ESM bonds (Alpha €4.3bn, EUROB €10bn, NBG €11.8bn and TPEIR €17bn).

--> very positive for Piraeus...