Gapping down
In reaction to disappointing guidance: DVOX -24.8% (withdrawing 2011 guidance due to softness in Q1; downgraded to Market Perform from Outperform at William Blair; downgraded to Neutral from Overweight at Piper Jaffray).
M&A news: ELNK -1.0% (ITC DeltaCom to be acquired by EarthLink for $3.00 per share in cash (107% premium); ELNK raises lower end of FY10 adj. EBITDA, net income, FCF guidance).
Other news: SNSS -16.7% (priced a 44.1 mln unit offering, each unit consisting of one share of its common stock and a warrant to purchase 0.5 of a share of its common stock, at a public offering price of $0.35/unit, for gross proceeds of approximately $15.5 mln), TNK -7.8% (announces pricing of public offering of 8.2 mln shares of Class A common stock at $12.15/share), HPQ -2.5% (Leo Apotheker Named CEO and President of HPQ), GMCR -2.2% (Cramer makes negative comments on MadMoney), WCRX -2.0% (Hearing weakness attributed to pricing of offering), ANH -1.0% (declares Q3 common stock dividend of $0.23/share, down from $0.25/share).
Analyst comments: ELX -4.2% (downgraded to Underweight from Neutral at JP Morgan), LTD -2.9% (downgraded to Sell from Neutral at Goldman), XLNX -2.4% (downgraded Sell from Neutral at Goldman), NFLX -1.4% (downgraded to Negative from Neutral at Susquehanna), DE -1.0% (downgraded to Neutral from Overweight at JP Morgan; downgraded to Market Perform from Outperform at Wells Fargo).
Gapping up
In reaction to strong earnings/guidance: TESS +4.8%, ACN +4.5%(also raises semi-annual dividend 20%to $0.45; upgraded to Outperform from Market Perform at Wells Fargo), DMAN +3.6%(light volume).
M&A news: CHIO +37.0%(entered into letter of intent to merge with Dingneng Bio-Technology), GYMB +22.8%(surging on reports that co is exploring a possible sale to private equity firms).
Select financial related names showing strength: IRE +5.6%, KEY +2.4% (initiated with Overweight at JP Morgan), HBC +1.9%(added to Conviction Buy List at Goldman), COF +1.8%, RBS +1.6%, C +1.5%, IBN +1.3%, LYG +1.3%, BCS +1.1%, GS +0.8%.
Select metals/mining stocks trading higher: KGC +3.0%, BBL +2.0%, MT +2.0%, AUY +1.8%, BHP +1.6%, RTP +1.6%, MCP +1.5%, FCX +1.4%, NG +1.3%, PAL +1.2%, EGO +1.1%, VALE +1.1%.
Select oil/gas related names showing strength: REP +4.9%(Repsol SA and Sinopec formed an alliance in Brazil to create a private energy group valued at $17.8 bln), STO +2.1%, TOT +1.9%, RDS.A +1.8%, BP +1.7%, .
Other news: GTSI +6.4%(announces increase in offer price for shares of GTSI Corp. to $7.50 in Cash), NOK +3.0%(announced that more than 200,000 people are currently signing up daily to Ovi), ARMH +2.6%(still checking), PLCE +2.5%(up in sympathy with GYMB), PWER +2.3%(Power-One and Intersil Corporation (ISIL) announced an agreement under which Intersil has licensed Power-One's Digital Power Technologies), SAP +2.2%(still checking; HPQ picked new exec from SAP veteran), COP +1.0%(Cramer makes positive comments on MadMoney), UNFI +0.8%(Utd Nat Foods prices of 3,850,000 shares common stock public offering at $33.00/share).