Блог компании DayTraderClub | WALL STREET INTRADAY, THURSDAY

Upgrades: 

• Croda Intl (COIHY) upgraded to Buy from Sell at UBS
• BASF AG (BASFY) upgraded to Buy from Neutral at UBS -- yesterday
• Assa Abloy (ASAZY) upgraded to Buy from Neutral at Goldman
• Electrolux (ELUXY) upgraded to Buy from Neutral at Goldman
• FLSmidth & Co A/S (FLIDY) upgraded to Buy from Neutral at Goldman
• Schneider Electric (SBGSY) upgraded to Buy from Neutral at Goldman

Downgrades: 

• Commerzbank AG (CRZBY) downgraded to Neutral from Overweight at JP Morgan
• Tesco PLC (TSCDY) downgraded to Neutral from Outperform at Exane BNP Paribas
• United Utilities Group (UUGRY) downgraded to Underperform from Sector Perform at RBC Capital Mkts
• Severn Trent (SVTRF) downgraded to Underperform from Sector Perform at RBC Capital Mkts
• Aberdeen Asset Management (ABDNY) downgraded to Underperform from Sector Perform at RBC Capital Mkts
• Air Liquide (AIQUY) downgraded to Sell from Neutral at UBS -- yesterday
• Alstom (ALSMY) downgraded to Neutral from Buy at Goldman
• Metso OYJ (MXCYY) downgraded to Sell from Neutral at Goldman

Buyers:

• CIGI 10% Owner — Spruce House Ptnrs bought 133,800 shares at $ 42.05 worth~ $6 mln
• GNCMA Director bought 80,000 shares at $13.78-14.50 worth~ $1 mln

Sellers:

• NYRT Director sold 351,952 shares at $9.05-9.14 worth ~ $3 mln

Gainers on news:

• WPCS (+2.3%) co announced that its backlog increased to $17.5 million upon securing $3.0 million in new contracts during September.
• LRCX (+1.8%) and KLA-Tencor (KLAC) terminated their merger.

Laggards on news:

• INVT (-31.8%) co priced a 6 mln share registered public offering of common stock at $1.00/share for proceeds of about $6 mln.
• TWTR (-16.6%) shares weaker following Re/Code report that Google (GOOG) will not move forward with an offer for the company and that Apple is unlikely to be a possible bidder. Also, Re/Code further reported that Disney (DIS) has decided not to make a formal offer as well.
• ADS (-1.6%) co's Epsilon signed a new multi-year agreement with Red Roof for email marketing services; terms not disclosed.
• EBAY (-0.8%) co to acquire image recognition technology company Corrigon Ltd; Financial terms of the deal were not disclosed.
• T (-0.4%) co announced a new multi-year relationship with Amazon (AMZN) Web Services to integrate cloud and networking capabilities; terms not disclosed.

• Aurinia Pharma (AUPH +33.83%) announces 24-week data in all 10 patients from the AURION study; '70% (7/10) patients achieved complete remission at 24 weeks'
• PhotoMedex (PHMD +26.96%) to sell its consumer products business to ICTV Brands for $9.5 mln
• RedHill Biopharma (RDHL +4.58%) rovides progress update on RHB-104 phase III Crohn's disease program and introduces option for early stop for success in Q2/2017

• Alnylam Pharma (ALNY -45.99%) to discontinue Revusiran development, says decision does not impact Patisiran or any other RNAi therapeutic program in development
• Provectus Pharma (PVCT -18.78%) files registration statement for a rights offering to its existing stockholders
• Alphatec (ATEC -11.32%) reduced its workforce by approximately 20%; CFO Michael O'Neill resigned effective October 5

• Alliqua (ALQA +3.31%) preannounces Q3 revenue just above/in-line with consensus
• ICU Medical (ICUI +13.34%) to acquire the Hospira Infusion Systems biz from Pfizer (PFE) for $1 bln in cash & stock; reports Q3 prelim results & updates FY16 guidance

• Vanda Pharma (VNDA +3.38%) resumed with a Buy at Jefferies
• Aerie Pharma (AERI +3.31%) target raised to $55 at Stifel — Analyst Day highlights best-in-class profile for rhopressa/roclatan and market enthusiasm
• Quality Systems (QSII -6.23%) initiated with Sell ratings at UBS
• Smith & Nephew (SNN -3.11%) downgraded to Hold from Buy at Berenberg
• Intersect ENT (XENT -2.89%) initiated with a Hold at Deutsche Bank

Rumors

• WSJ reported that Itau Unibanco Holding (ITUB 11.57 -0.05) is near a deal to acquire Citi's (C 48.58 -0.08) Brazilian consumer-banking operations.
• Twitter (TWTR 20.30 -4.57) weakness attributed to ReCode report that Google (GOOG 777.53 +1.06) will not move forward with an offer for the company and that Apple (AAPL 113.31 +0.26) is unlikely to be a possible bidder. Re/Code further reported that Disney (DIS 92.92 +0.47) has decided not to make a formal offer as well. CNBC's David Faber reported that there is no deadline for TWTR bids; timeline unchanged.
• Whole Foods (WFM 28.80 +0.84) M&A speculation circulated.
• Reuters discussed that Petrobras (PBR 10.19 +0.27) might sell oil stakes to Karoon Gas Australia

Bullish Call Activity:

• RIG Weekly Oct07 10.5 calls (volume: 2650, open int: 2780, implied vol: ~68%, prev day implied vol: 58%)  — co reported earnings early August and is expected to report its next quarterly earnings report early November.
• AUY Oct 4 calls (volume: 3180, open int: 4110, implied vol: ~75%, prev day implied vol: 68%) — co is confirmed to report earnings October 27 after the close (outside of expiration).
• GOGO Jan17 12 calls are seeing interest with the underlying down 6% following update from Verizon on its commercial connectivity trials (volume: 4350, open int: 190, implied vol: ~61%, prev day implied vol: 5%) — renewed M&A chatter circulated last month.
• SPLS Nov 9 calls (volume: 2030, open int: 350, implied vol: ~37%, prev day implied vol: 35%) — 1500 contracts traded in a single transaction. Co announced the availability of Apple Pay on its mobile website. Co is expected to report earnings mid-November, possibly falling within the November expiration cycle.

Bearish Put Activity:

• FTNT Oct 36 puts (volume: 1390, open int: 150, implied vol: ~37%, prev day implied vol: 33%) -- co is expected to report earnings mid October, possibly falling within the October expirations cycle.
• RAD Jan17 7 puts (volume: 7190, open int: 203.0K, implied vol: ~56%, prev day implied vol: 55%) — nearly 3800 contracts traded on the offer. Co reported earnings last month and is expected to report its next quarterly earnings report mid-December.  Walgreens M&A deal expected to close in H2 of 2016.