Gapping down
In reaction to disappointing earnings/guidance: GXDX -17.8%, NOK -10.0%, FDX -2.4%.
M&A news: COV -8.8% (light volume; Somanetics announces Covidien will acquire all of the outstanding shares of Somanetics Corporation for $25.00 per share in cash).
Select financial related names showing weakness: IRE -5.1%, STD -3.3%, KEY -3.0%, BCS -2.5%, NBG -2.4%, DB -1.8%, ING -1.7%, UBS -1.7%, AIG -1.3%, C -1.3%.
Select metals/mining stocks trading lower: PAL -3.2%, MT -2.1%, VALE -1.9%, RTP -1.8%, BBL -1.7%, BHP -1.4% (downgraded to Underweight from Neutral at JP Morgan).
Select oil/gas related names under pressure: ACGY -4.8%, SDRL -4.6%, HERO -4.1%, BEXP -3.9%, ATPG -3.2%, APC -2.8%, STO -2.8%, REP -2.6%, SLB -2.1%, SU -2.1%, DVN -1.7%, WFT -1.6%, CHK -1.5%.
Select mobile device makers and cos with exposure to NOK are trading lower following NOK guidance: STM -4.7%, BP -2.9% (shares lower in premarket trade following President Obama's speech; also estimates raised for BP spill to 60Kbpd from 35K), ALU -3.8%, RFMD -3.4% (NOK accounts for ~55% of the revs at RFMD), VG -3.3%, SI -1.9%, QCOM -1.6%, MOT -1.6%, ERIC -1.5%, RIMM -1.4%, TXN -1.4% (TXN sales to Nokia accounted for ~20% of revs in 2009), SWKS -1.1%, .
Other news: CRIS -30.7% (trial did not meet its primary endpoint of extending the time from randomization to disease progression or death in study patients who received GDC-0449), FSC -4.1% (commences 8 mln share public offering of common stock), GTU -3.7% (plans to offer Units of Central GoldTrust to the public in Canada and in the US under its existing U.S.$800 mln base shelf prospectus dated June 8, 2009), RBCN -2.9% (prices offering of ~2.6 mln shares of common stock at $30/share), UTA -1.8% (priced a ~2.85 mln share common stock offering at $7/share), RL -1.4% (prices 9.0 mln common shares at $81.00/share), AIXG -1.4% (still checking), AZN -1.0% (still checking for anything specific).
Analyst comments: IGT -3.7% (downgraded to Sell at Goldman), WPRT -2.2% (downgraded to Market Perform from Outperform at Northland Securities), DWA -2.7% (downgraded to Neutral from Buy at Goldman).
Gapping up
In reaction to strong earnings/guidance: CLC +5.7%, RRTS +1.6% (light volume), CCE +0.5% (light volume).
M&A news: SMTS +31.0% (Somanetics announces Covidien will acquire all of the outstanding shares of Somanetics Corporation for $25.00 per share in cash).
Select alternative/clean energy names getting boost following Obama comments last night: CLNE +15.6% (focuses on alternative fuels for vehicles), HEV +14.6% (business of rechargeable lithium batteries), FSYS +8.9% (light volume; focuses on alternative fuel components).
Select education names ticking higher on reports of gainful employment delay: DV +3.8%, APOL +3.8%, ESI +2.9% (light volume), COCO +1.6%.
Other news: URRE +50.0% (Tenth Circuit rules in favor of Uranium Resources in Indian Country Case), NBIX +30.9% (Neurocrine Biosciences and Abbott Labs announce global agreement to develop and commercialize elagolix for treatment of endometriosis), GNVC +16.0% (announces engagement of financial advisor to evaluate strategic alternatives ), PWER +6.8% (announces completion of its reorganization), IMMU +5.8% (reports new data from EMBLEM study show Epratuzumab provided significant efficacy), AXL +3.6% (ticking higher in premarket; Hearing move attributed to analyst upgrade), SUN +2.7% (plans to separate coke business; expects refining segment to be profitable in 2Q10), AMTD +1.6% (Reports Monthly Metrics; An average of 484,000 client trades per day in May 2010, up 18% from May 2009 and up 13% from April 2010), MDRX +0.7% (Cramer makes positive comments on MadMoney), IRDM +0.6% (Iridium Communications and SpaceX sign commercial launch contract).
Analyst comments: SHPGY +1.5% (initiated with a Buy at Deutsche Bank).