US stock market news - NYSE, NASDAQ on 13.04.2017

● Citigroup (NYSE: C) announced a profit in the first quarter of $4,09 billion ($1,35 per share) compared to $3,50 billion ($1,10 per share) a year earlier. Operating profit was $1,27 per share. Revenue for the reporting period increased to $18,12 billion s $17,56 billion

● Wells Fargo & Co. (NYSE: WFC) reported receiving in the first quarter of profit in the amount of $5,46 billion ($1 per share) compared to $5,46 billion (99 cents per share) a year earlier. Revenue for the reporting period fell to $22 billion s $22,2 billion.

● J.P. Morgan Chase & Co. (NYSE: JPM) reported receiving in the first quarter of profit in the amount of $6,45 billion ($1,65 per share) compared to $5,52 billion ($1,35 per share) a year earlier. Revenue for the reporting period increased from $24,08 billion to $25,59 billion.

● Tesla's market cap is 'unexplained', and her shares are overvalued, считает гендиректор крупнейшего в США автодилера AutoNation Майк Джексон.

● Uber PR Director Rachel Vetstone leaves the company without explanation. This comes after a series of scandals., struck at the reputation of the company

● China's exports in March grew more than, expected, and the country again had a trade surplus

● The Central Bank of Brazil lowered the key interest rate immediately by one percentage point to 11,25% against the background of inflation approaching the target value

● Paint maker Akzo Nobel has accused activist investor Elliot Advisors of intending to share important information with competitor PPG seeking to acquire it. Akzo found out about this due to the fact, that Elliot mistakenly emailed her internal correspondence

● United Airlines, in an attempt to resolve the scandal over the forcible removal of a person from an overcrowded plane, promised monetary compensation to all passengers on that flight.. Гендиректор Оскар Муньос пообещал никогда больше так не поступать с пассажирами

● Investor David Einhorn increases pressure on General Motors, trying to force the concern to split its common shares into two classes. He nominated three candidates for GM's board of directors and criticized that, how the concern reacted to his plan

● The US stock market volatility index rose to its highest level since November as 28 April. On this day, budget funds to finance the activities of the US government will run out, и есть угроза временного прекращения его работы

● Warren Buffett's Berkshire Hathaway sold a stake in Wells Fargo. She did it because, what attracted the attention of American regulators, that Berkshire's stake in Wells Fargo exceeded 10%

● Uber стала рассматривать покупку занимающегося самоуправляемыми автомобилями стартапа бывшего сотрудника Google уже через два дня после его ухода из компании, Google representatives said in court

Gapping down
In reaction to disappointing earnings/guidance:

• LEDS -12%, THE BRIDGE -3.7%, INFY -3.7%
• DTEA -2%, (also conducts its evaluation of the business under new leadership and develops its go-forward strategy to drive improved results, quarterly and annual guidance will not be provided)
• WFC -1.2%, TSM -1.1%

Select EU financial related names showing weakness:

• SAN -2.2%, BBVA -1.8%, HSBC -1.6%, ING -1.1%, RBS -1%, DB -0.9%, BCS -0.8%, CS -0.7%

Other news:

• SRNE -33.9% (to offer shares of its common stock)
• DMPI -25.1% (prices 2,769,232 shares of common stock and warrants to purchase an aggregate of 2,076,924 shares of common stock at $3.25 per share related warrant)
• MOSY -22.7% (MoSys revises its operating plan, co to cut 60% of workforce, Board engaged an investment bank to act as its strategic financial advisor, and initiated a process to explore and review a range of strategic alternatives)
• CHKE -4.6% (will file with the SEC for an automatic 15-day extension of the deadline for submitting its Annual Report on Form 10-K; co expects to file the Form 10-K on or before the extended deadline of April 28, 2017)
• BBRY -1.6% (modestly pulling back following yesterday’s strength)
• AIR -1.3% (reported “positive rocket 4 six-month topline safety and efficacy results for Rhopressa”)
• ABT -1% (receives FDA warning letter relating to Fortify, Unify, Assura implantable cardioverter defibrillators and cardiac resynchronization therapy defibrillators, and the Merlin@home monitor)

Analyst comments:

• WFT -2.5% (downgraded to Neutral from Buy at Goldman)

TerraVia receives a generally recognized as safe no questions letter from the FDA for its Algae Butter (TVIA) :

On The Wires (:WIRES) :

• At the 2017 NAB Show, Harmonic (HLIT) will host and participate in a unique AIMS interoperability demo at the company’s booth SU1210 with other technology innovators, including Arista, Embryosx, LAWO, Tektronix and Vizrt. Harmonic and its partners will demonstrate unique uncompressed IP interoperability for a complete playout chain.
• Achaogen (AKAO) announces seven upcoming presentations on plazomicin at the 27th European Congress of Clinical Microbiology and Infectious Disease. The company and its collaborators will deliver two oral presentations and five poster presentations at the event, which will be held in Vienna, Austria from April 22 to 25, 2017. Achaogen is developing plazomicin, its lead product candidate, to treat serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae.
• CymaBay Therapeutics (CBAY) announces that data from its Phase 2 proof-of-concept study of seladelpar in patients with primary biliary cholangitis (:PBC) will be presented at the International Liver CongressTM 2017.
• CoreCivic, Inc. (CXW) received a contract extension from Immigration and Customs Enforcement at CoreCivic’s 1,000-bed Houston Processing Center. Our contract with ICE was extended one year to April 2018, with five additional two-month extension options, while we negotiate a long term contractual agreement.
• Axcelis Technologies (ACLS) received multiple orders for the Purion H high current, Purion XE high energy, and Purion EXE extended high energy system from several leading chip manufacturers in the Asia Pacific region. The systems shipped in the first quarter.

Gapping up (SCANX) :

Gapping up
In reaction to strong earnings/guidance:

• AAOI +23.7%, HBI +6.6%, (reports prelim results/updates guidance – CFO has decided to retire at the end of 2017)
• APOG +1.6%, PNC +1.6%, JPM +0.5%, C +0.5%

Select AAOI related names/peers showing strength after AAOI earnings:

• LITE +4.5%, FNSR +4.3%, OCLR +4.2%, ACIA +2.1%, INFN +2%, FN +1.8%, PRICE +1.6%

Select metals/mining stocks trading higher:

• TO +2.3%, MTL +1.8%, MTL +1.8%, CDE +1.4%, AG +1.3%, GG +1%

Other news:

• OCRX +41.2% (Ocera Therapeutics announces that data supporting the potential for OCR-002 in the treatment of NAFLD/NASH will be presented April 20)
• EYES +32.8% (60 Minutes discusses how eye surgeons are making progress in restoring sight)
• RLMD +22.2% (announces that the FDA has granted Fast Track designation for d-Methadone for the adjunctive treatment of major depressive disorder)
• AEHR +4.9% (prices underwritten public offering of 3,846,154 shares of its common stock at $3.90/share)
• ENTL +4.1% (receives 510(k) clearance from the FDA for use of its XprESS ENT Dilation System in patients with persistent Eustachian tube dysfunction)
• CBIO +2.3% (light volume; announces closing of a $20.7 million underwritten public offering and full exercise of over-allotment option)
• ACRX +1.9% (publishes two analyses of patient-controlled analgesia systems in Current Medical Research and Opinion analyzing iv, transdermal and ublingual patient-controlled analgesia systems)
• INCY +1.5% (positive commentary on Mad Money)
• DRYS +1.4% (after closing near highs up 25% on the yesterday)
• BMY +1.1% (agrees to license BMS-986168 to Biogen (BIIB) and BMS-986089 to Roche)

Analyst comments:

• VSTM +2.5% (initiated with Outperform ratings at Oppenheimer)
• ADBE +1.2% (initiated with Buy ratings at Guggenheim)
• SIX +0.9% (initiated with a Buy at SunTrust)
• NS +0.5% (upgraded to Neutral from Underperform at Credit Suisse)