Gapping down
Metals and mining stocks/ETFs trading lower: GFI -3.8%, MT -3.7%, FCX -2.8% (announces that Chairman and co-founder James Moffett will step down; Gerald Ford elected as Non-Executive Chairman), AU -2.8%, SLV -2.1%, GDX -1.5%, SLW -1.3%, NEM -1%, AA -0.9%, GLD -0.5%.
Oil/gas related names showing early weakness: WFT -10% (light volume), OAS -4.5%, CJES -3.1%, SNP -2.9% (ticking lower), MEMP -2.6%, SLB -2.2%, COP -2.2%, DVN -1.8%, MRO -1.7%, BP -1.6%, APC -1.6%, RIG -1.5% (announces that Shell has elected to terminate the contract for the harsh environment semisubmersible Polar Pioneer prior to its expiration in July 2017), CLR -1.4%, OXY-1.2%, TOT -1.1%, XOM -0.8%.
Other news: CMRX -75.3% (announces top-line results from its Phase 3 Suppress trial of Brincidofovir; did not achieve primary endpoint for prevention of significant CMV infection after HCT), ICON -7.4% (Iconix Brand announces it received a formal order of investigation from the Staff of the SEC; co intends to fully cooperate with the SEC), VRX -6.7% (confirmed J. Michael Pearson Medical Leave), NFLX -1.1% (Barron's suggests YouTube 2x more valuable than Netflix) SCTY -0.7% (lower despite Barron's positive view), BABA -0.6% (reports out indicate the company is still attempting to turnaround its reputation in relation with counterfeiter sales; also plans additional Ele.me investment), QIHU -0.5% (Qualcomm enters into a Chinese Patent License Agreement with QiKu Internet Network Scientific, a JV between Qihu and Coolpad), DB -0.4% (Deutsche Bank to sell entire 19.99% stake in Hua Xia Bank to PICC Property and Casualty Company Limited), AXP -0.4% (mentioned cautiously in Autonomous Research survey on Fintech winners/losers).
Oil/gas related names showing early weakness: WFT -10% (light volume), OAS -4.5%, CJES -3.1%, SNP -2.9% (ticking lower), MEMP -2.6%, SLB -2.2%, COP -2.2%, DVN -1.8%, MRO -1.7%, BP -1.6%, APC -1.6%, RIG -1.5% (announces that Shell has elected to terminate the contract for the harsh environment semisubmersible Polar Pioneer prior to its expiration in July 2017), CLR -1.4%, OXY-1.2%, TOT -1.1%, XOM -0.8%.
Other news: CMRX -75.3% (announces top-line results from its Phase 3 Suppress trial of Brincidofovir; did not achieve primary endpoint for prevention of significant CMV infection after HCT), ICON -7.4% (Iconix Brand announces it received a formal order of investigation from the Staff of the SEC; co intends to fully cooperate with the SEC), VRX -6.7% (confirmed J. Michael Pearson Medical Leave), NFLX -1.1% (Barron's suggests YouTube 2x more valuable than Netflix) SCTY -0.7% (lower despite Barron's positive view), BABA -0.6% (reports out indicate the company is still attempting to turnaround its reputation in relation with counterfeiter sales; also plans additional Ele.me investment), QIHU -0.5% (Qualcomm enters into a Chinese Patent License Agreement with QiKu Internet Network Scientific, a JV between Qihu and Coolpad), DB -0.4% (Deutsche Bank to sell entire 19.99% stake in Hua Xia Bank to PICC Property and Casualty Company Limited), AXP -0.4% (mentioned cautiously in Autonomous Research survey on Fintech winners/losers).
Gapping up
In reaction to strong earnings/guidance: n/a.
In the news: PSDV +11% (plans to file for EU marketing approval of Medidur, for chronic non-infectious uveitis of the posterior segment of the eye), BSI +7.5% (annoounces appointment of Tzachi Otsar as director effective immediately; Dan Weiss resigns as director), ROVI +3.4% (following last week's ~50% move higher), SUNE +3% (SunEdison provides December business update: Successfully renegotiated the Vivint Solar (VSLR) acquisition; key assumptions include EBITDA of $1.186 bln), EOX +2.5% (discloses Angelus will acquire a portion of the Company's undeveloped leaseholds in Montana and North Dakota for ~$9.75 mln), WTW +2.2% (still checking), REXI +2% (after last week's boost from Leon G. Cooperman stake), PN +2% (continued strength), PSEC +1.2% (insider buy disclosures), AIXG +1.1% (still checking), FIT +1% (Fitbit's iOS app jumps to number one on Apple's top downloaded list over Christmas holiday), QCOM +0.9% (Qualcomm enters into a Chinese Patent License Agreement with QiKu Internet Network Scientific, a JV between Qihu and Coolpad), SIG +0.8% (positive Barron's mention; The WSJ's Heard on the Street column out positive on Signet),NPTN +0.8% (after last Thursday's 10% move higher), DIS +0.6% (The Force Awakens sets record as fastest movie to surpass $1 bln in worldwide box office sales ), ATNM +0.4% (ticking higher; Actinum Pharma and Memorial Sloan Kettering Cancer Center sign an agreement regarding donated common shares).
Apple: Add'l iPhone-related data points leave firm confident in 74.7M F1Q16 est; Buy, $140 tgt -- Stifel
Stifel notes while investor focus is clearly on the March and June quarter dynamics, firm views the monthly data they have tracked thus far during C4Q15 to be supportive of their 74.7 mln est. Mobile phone export data for both provinces (Henan and Shanghai) show a notable slowdown during Nov.; however, firm would emphasize that this follows extremely strong monthly data in Sept and Oct -- firm believes indicative of a change in the velocity of Apple's iPhone product cycle. Based on their est that Oct + Nov account for 70% of total C4Q15 exports, firm would arrive at a +9.5% y/y growth est. Using the historically high quarterly correlation firm would arrive at an iPhone (ex-China) est in the mid-60 mln range, slightly ahead of their current 61.3 mln est.