After Hours Summary: MGI +160% on Ripple investment / strategic agreement news, PHAS +15% on Phase 2a updateAfter Hours Gainers:
Companies trading higher in after hours in reaction to guidance: EQT +0.9% (light volume; sees Q2 sales volume at high end of range, FCF better than guidance; sees cap-ex savings and additional FCF under target 10% initiative)
Companies trading higher in after hours in reaction to news: MGI +158.6% (surging higher on strategic agreement news with blockchain solutions provider Ripple - includes $30 mln equity investment in MoneyGram), PHAS +15.4% (announces "positive preliminary results" from its Phase 2a clinical trial for PB2452), EIGR +9.6% (receives Breakthrough Therapy Designation from FDA for avexitide for the treatment of post-bariatric hypoglycemia), ARQL +5.9% (continued strength - was up 17% on the day), LCI +3.8% (approved restructuring plan of subsidiary Cody Laboratories), PINS +0.7% (initiated with Outperform rating and $33 tgt at Wedbush), NVO +0.6% (confirms FDA approval of expanded indication for Victoza), SCPL +0.6% (10% owner Park West bought ~330K shares), BAC +0.4% (upgraded to Outperform from Market Perform at BMO Capital Markets)
After Hours Losers:
Companies trading lower in after hours in reaction to news: RMTI -23.4% (commences underwritten public offering of common stock), BHVN -12.8% (files mixed securities shelf offering; commences underwritten public offering of $300 mln of common shares), CALA -8.6% (commences underwritten public offering of 10 mln shares of common stock), SRNE -2.5% (light volume; files for ~1.33 mln share common stock offering by selling shareholders