Spyder ETF declines before NYSE opening bell.
European Indexes are in negative side
SPY (intraday chart) uptrend at extended hours. Resistance: 168.00 , Support: 167.20
• M&A news: BBRY +4.4% (SAP, Cisco, and Google are discussing bids for all or parts of BBRY, according to reports; upgraded to Neutral from Underperform at Macquarie), RUE +1.3% (rue21 debt has sold at a 20% discount, according to reports).
• Select metals/mining stocks trading higher: GFI +1.6%, AU +1.4%, AUY +1.2%, SLV +0.7%, GDX +0.5%, GLD +0.4%.
• Other news: OUTR +7.7% (Jana Partners confirms 13.5% stake in 13D; Outerwall comments on Schedule 13D filing from JANA Partners), PICO +6.6% (Barron's profiles positive view on Pico Holdings), CTIC +4.4% (Cell Therapeutics announces agreement with FDA on special protocol assessment for planned pivotal Phase 3 trial of Pacritinib in Myelofibrosis), IMAX +2.9% (following Gravity opening), ACHN +2.2% (RA Capital Management discloses purchase of 2.8 mln shares at $2.96-3.01 ), TSLA +0.2% (still checking) .
• Analyst comments: MU +1.5% (tgt raised to $30 from $19 at Citigroup), AAPL +0.7% (upgraded to Buy from Hold at Jefferies; tgt raised to $600 from $425), RLGY +0.4% (Realogy upgraded to Buy from Neutral at Goldman)
• M&A news: CTB -7.5% (Cooper Tire & Rubber filed a complaint in Delaware Chancery Court asking that subsidiaries of Apollo Tyres be required to expeditiously close the pending merger between the two tire companies in accordance with the terms of the definitive merger agreement), TWGP -5.6% ( attributed to speculation of PE capital investment, has been the target of M&A chatter recently, this speculation could be seen as negative), SAP -2% (SAP, Cisco, and Google are discussing bids for all or parts of BBRY, according to reports).
• Financial related names showing weakness: ING -2.8%, LYG -2.2%, DB -2.1% ( downgraded to Hold from Buy at Canaccord Genuity), HBC -1.3% (HSBC Holdings Household International liable for $1.5 bln securities fraud claims, according to reports), C -1.1%, CS -1.1%, BAC -0.8%, JPM -0.7%.
• Select mining stocks trading lower: RIO -2%, BHP -1.8%, MT -1.3%.
• Select oil/gas related names showing early weakness: YPF -6.6%, SDRL -2%, RIG -1.7%, RDS.A -1.5% (Royal Dutch Shell has increased production at Iraq oil field, according to reports), WFT -1.2%, BP -0.9%.
• Other news: ATOS -49.2% ( initiates medical device voluntary recall ), DRYS -6.3% (DryShips launches ATM equity offering with Evercore group ), GIMO -4% ( files Registration Statement for proposed follow-on offering by co and certain selling shareholders ), DEG -2.2% (confirmed management changes - Stfan Descheemaeker to resign as CEO of Delhaize Europe), F -1.7% (Ford Motor's Board will discuss plans for CEO Mulally this week, according to reports ), NOK -1.6% (still checking), BUD -1.6% (still checking), ARMH -1.5% (still checking), RCL -1.5% (still checking), ARMH -1.5% (still checking), AMZN -1% (Amazon.com workers in Germany may go on strike before the holidays, according to reports); cautious Barron's mention).
• Analyst comments: TOL -1.7% (downgraded to Neutral from Buy at Goldman), GEVA -1.7% (Synageva downgraded to Neutral from Outperform at Wedbush), QCOM -1.5% (Qualcomm downgraded to Neutral from Buy at BofA/Merrill), IBM -1.4% (downgraded to Equal Weight from Overweight at Barclays), AA -1.4% (downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt lowered to $9 from $10 ), FB -1.3% ( downgraded to Outperform from Strong Buy at Raymond James, initiated with an Overweight at Atlantic Equities ), GE -0.7% (resumed with a Neutral at Goldman; tgt $26)
Trading Ideas NYSE & NASDAQ:
• BBRY – short below 8.00. Long above 8.00.
• CTB – long above 8.0026.00
• ATOS – long above 3.00
Original: NYSE Analytics 7 October - Shark Traders