Select metals/mining stocks trading higher, with sympathy with RIO Q2 production results: AKS +3%, VALE +2.5%, GOLD +2.2%, BHP +2%, GFI +2%, CLF +1.5%, ABX +1.4%, GDX +1.2%, X +0.9%, SCCO +0.8%.
Other news: BIDU +6.8% (signs MOU to acquire 100% interest in NetDragon's unit 91 Wireless), WLT +4.9% (discloses it is discussing with its lenders possible amendments to the Company's credit facility), LOCK +1.5% (still checking).
Analyst comments: TROV +7.7% (Trovagene initiated with a Buy at Cantor), SPPI +7.7% (upgraded to Mkt Outperform at JMP Securities), SNTA +3.1% (upgraded to Mkt Outperform at JMP Securities), GOGO +1.4% (initiated with a Overweight at JP Morgan, initiated with Buy at UBS, and initiated with a Outperform at William Blair), GM +1.1% (added to Conviction Buy list at Goldman), FB +0.7% (initiated with a Buy at Sun Trust Rbsn Humphrey).
Gapping down:
In reaction to disappointing earnings/guidance: JOEZ -13.4%, (to acquire Hudson Clothing for ~$97.6 mln and will be payable in cash and convertible notes; will close on or about August 31), HSII -13.2%, (to announce CEO transition; sees revenue at the higher end of previous guidance), LQDT -12%, STLY -6.3%, CTAS -4%, MILL -3.7%, KOP -2.7%, MPC -2.3%, KO -2.1%, WWAV -1.2%, (light volume), ETR -1%.
Select names showing weakness due to public offerings: PFLT -4.5% (plans to make a public offering of 4,700,000 shares of its common stock), BERY -4.4% (Announces Proposed Secondary Public Offering of 15 mln share of the co's common stock), AMRE -3.1% (plans to sell 3,000,000 shares of its common stock in an underwritten public offering), HR -2.4% (commenced an underwritten public offering of 3,000,000 shares of its common stock), INSM -2.2% (is offering $60 million of its common stock in a proposed underwritten public offering).
Other news: TI -4.2% (that the board of directors makes the continuation of the access network spin off process subject to verification of regulatory aspects), TEF -1.6% (in sympathy with TI), QIHU -1.6% (still checking), ANR -1.1% (Cumberland mine experiences unplanned production outage).
Analyst comments: DLPH -1.8% (downgraded to Neutral at Goldman), SANM -1.5% (downgraded to Mkt Perform from Outperform at Raymond James), F -1% (removed from Conviction Buy list at Goldman), DVA -1% (downgraded to Sell from Neutral at Goldman), DFS -1% (downgraded to Neutral from Overweight at JP Morgan), TXRH -0.7% (downgraded to Neutral at JP Morgan).
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