After Hours Summary: Bank stocks modestly higher on stress test results; XLNX +7.2% up on guidance; MU +5.6% up on strong earnings; LULU gets into home fitness market with Mirror purchaseAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: XLNX +7.2% (guides JunQ and SepQ above consensus), MU +5.6%, JEF +2.4%, XP +0.1% (guides for Q2 revs)
Companies trading higher in after hours in reaction to news: BLNK +41.4% (extends momentum), SPG +6.2% (provides reopening update; declares Q2 dividend of $1.30), LULU +3.4% (to acquire in-home fitness company MIRROR for $500 mln), WDC +3% (in sympathy with strong MU earnings), ARYA +2.9% (shareholders approve combo with Immatics Biotech), SGEN +1.9% (announces "favorable" results from Phase 2 trial of tisotumab vedotin), NLS +1.7% (in sympathy with LULU acquiring home fitness co Mirror), XP +0.1% (announces offering by selling stockholders, provides Q2 rev guidance)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: LNDC -6.1% (guidance), MLHR -5%
Companies trading lower in after hours in reaction to news: OCX -48% (DetermaDx study endpoints were not achieved), VRCA -28.9% (provides regulatory update pertaining to VP-102), LQDA -18% (to acquire RareGen through all-stock merger, also announces stock offering), ERII -13% (will exit its licensing deal with Schlumberger), CRSP -7% (commences $325 mln common stock offering), IIPR -2.6% (anounces 1.8 mln share offering), PTON -1.8% (falls a bit as LULU will acquire home fitness co Mirror), XLRN -1.7% (announces $400 mln offering), BA -1% (Norwegian Air cancels orders for 97 of Boeing's planes), GMAB -0.4% (announces "favorable" results from Phase 2 trial of tisotumab vedotin)
Bank Movers on Stress Test Results: C +1.0%, MS +0.9% (to maintain dividend), JPM +0.8% (intends to maintain dividend), GS +0.7%, DFS +0.7%, ALLY +0.6%, CFG +0.5%, BAC +0.2% (to maintain dividend), STT +0.1% (suspends share repurchases for Q3), BK +0.1%; COF -1.3%, WFC -0.8% (expects dividend in Q3 will be reduced from current level; expects Q2 results will include an increase in the allowance for credit losses substantially higher than the increase in Q1).