Yesterday was a good day I took an early trade in $RTK off some pr and scaled out throughout the day. I bought some $MGM for my long term hold account and I tried a position in $MTSN which I wound up selling out flat end of day.
Morning movers and other stocks on watch
$VVUS 13 dolla roll, $PKT earnings beat, $NQ 9 dolla roll, $AMBA, $MTSN, $RTK continuation, $URRE bottom bounce, $VELT bottom bounce, $VVTV bounced off of 20 day , $REE pr,$ACRX 6 dolla roll, $HOV 50 day ma break, $INVN gapper earnings beat,$ACUR buying on weakness for IRA , $VRNG
A couple of notable FDA advisory committee announcements destroyed two small companies $AVEO and $DCTH. I think the FDA holds way to much power in the life and death of these small companies and wish congress would approve " Ron Paul's Compassionate Freedom of Choice Act of 2012 (column 3) allowing dying patients to try out whatever drugs they wanted whether approved or not" which I recently read about on Seeking Alpha
CNBC
Non-Farm Payrolls Rise More Than Expected, Up by 165,000 in
April; Unemployment Rate Drops to 7.5% Game on !! Rockets ignited
Economists surveyed by Reuters expected April to
show 150,000 new nonfarm jobs created, up from the 88,000 in March, with the
unemployment rate steady at 7.6 percent.
Seeking Alpha
Today's Markets:
In Asia, Japan: Closed. Hong Kong +0.1% to 22689. China +1.44% to 2205. India -0.81% to 19575.
In Europe, at midday, London +0.23%. Paris +0.16%. Frankfurt +.20%.
Futures at 7:00: Dow -0.05%. S&P -0.09%. Nasdaq: Flat. Crude +0.62% to $94.57. Gold +1.04% to $1483.00.
Today's economic calendar:
8:30 Nonfarm payrolls
10:00 Factory Orders
10:00 ISM Non-Manufacturing Index
Notable earnings before today's open: ADP, AXL, BBEP, BPL, CBOE, DUK, FBN, GBDC, GTXI, HST, LNT, MCO, NGLS, NRF, NVE, NWL, PNW, POM, PPC, REGN, SE, SEP, SMP, UPL, WCG, XLS, YRCW
Notable earnings after today's close: MTGE
Briefing .com is lagging this morning will update as soon as I get the 411
Gapping up
In reaction to strong earnings/guidance: PKT +21.8% (also
receives
multi-million dollar order from North American MSO to
deliver network intelligence), BCOR +13.6%, INVN +11.8%, WTW +8.7%, FLT +7.8%, MASI
+4.7%,(light volume), YY +4.1% (light volume), REGN +3.8% ( Acquires Full
Rights to Two Novel Ophthalmology Development Programs; co will pay Sanofi
(SNY) $10 mln upfront, up to $40 mln in development payments, and royalties on
sales with respect to PDGF antibodies ), AIG +2.8%, MHK +2.3%, FLR +2.2%
(light volume), KRFT +1.9%, UEIC +1.6% (light volume), PCOM +1.3% (light
volume), AXL +1.2%, ATHN +1% (light volume).
Metals/mining stocks trading higher: BHP +3.7%, RIO
+3.2%, BBL +2.6%, SLV
+1.3%, SLW +1.3%, ABX +1.3%, GG +1.1%, NEM +1%, VALE
+0.8%, GLD +0.8%, FCX +0.5%.
Select oil/gas related names showing strength: TOT +0.7%,
RDS.A +0.6%, BP
+0.6%, RIG +0.4%.
Other news: GENE +20% (executes agreement with nationwide
provider network),
AGN +2.7% (FDA Advisory Committee unanimously recommended
JUVEDERM VOLUMA XC as a safe and effective treatment option for cheek augmentation to correct
age-related volume deficit in the mid-face), DDD +2.9% (still checking), BBRY
+1.9% (higher on reports of Dept of Defense usage approval ), CCL +1.2% (still
checking), MBI +0.8% (announces settlement with Flagstar Bank (FBC) of $110
mln in cash and other consideration), AAPL +0.4% (may launch low cost iPhone
in small volumes, according to reports ).
Analyst comments: BZH +1.6% (upgraded to Overweight from
Neutral at JPMorgan,
upgraded to Market Perform from Underperform at JMP
Securities), ACT +1.4% (tgt to $118 from $105 at Bernstein), ALL +0.1% (added to Conviction Buy List
at Goldman), FSLR +0.1% (tgt to $60 from $45 at Lazard )
Gapping down
In reaction to disappointing earnings/guidance: VCRA
-27.7% (also downgraded
to Market Perform from Outperform at Leerink), ZAGG
-27.3% (also downgraded by multiple analysts), GUID -20.2% (also downgraded to Hold from Buy at
Benchmark), ARNA -14.3%, TDC -10.3%, LNKD -8.9%, AGNC -7.6%, HMA -6.9% (light
volume), SKUL -6.2%, RBS -6%, ACTV -5.3% (light volume), RTEC -4.9% (light
volume), HAIN -3.7% (announces strategic acquisition of Ella's Kitchen Group;
expected to be accretive in 2014 by $0.05-0.08 per share), MYL -3.6%, TPX
-3.1%, QLGC -2.9% (light volume), ONNN -2.7%, ADNC -2.5% (light volume), DOLE
-2.4% (light volume), NILE -2.2%, WFT -2.2% (light volume), ARR -2%, SPWR
-1.9% (following late spike on early earnings release), KOG -1.9%, OPEN -1.7%,
IMPV -1.1%, (light volume).
Mortgage related names showing weakness: WMC -3.6%, MTGE
-3.5%, TWO -2.8%
(announced acquisition of company with certain MSR
approvals), HTS -2.5%, NYMT -2.4%, ANH -1.8%, MITT -1.7%, ACAS -1.1%, CYS -0.7%, IVR -0.4%, CIM 0.3%.
Other news: DCTH -53.2% (confirms FDA Advisory Committee
voted 16-0 that the
benefits of treatment with co's Melblez Kit do not
outweigh the risks; also multiple downgrades ), CHE -17% (DOJ Files False Claims Act Lawsuit Against
Chemed) CETV -5.1% (prices 54,436,582 shares of its Class A common stock at
$2.75), LTC -2.6% ( announces offering of 3 mln shares of its common stock).
Analyst comments: HMY -7.9% (target cut at Goldman), LULU
-1.8% (downgraded to
Neutral from Outperform at Wedbush ), AU -1.1%
(downgraded to Sell from Neutral at Goldman), HR -0.5% (downgraded to Market Perform from Outperform at
BMO), SYY -0.5% (downgraded to Sell at Cantor Fitzgerald, BBBY -0.2%
(downgraded to Perform from Outperform at Oppenheimer)
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