After Hours Summary: LB +6.4%, SNPS +2% following earnings/guidance, P +8% and SIRI +1% on M&A speculation... ASNA -31%, SMRT -24%, CSCO -7.5% following earnings/guidanceAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: LB +6.4%, SNPS +1.8%
Companies trading higher in after hours in reaction to news: GLYC +35.9% (FDA has granted Breakthrough Therapy designation for treatment of adult relapsed/refractory acute myeloid leukemia to the com's drug candidate GMI-1271), CYTR +18.9% (to present Phase 3 aldoxorubicin clinical data in patients with soft tissue sarcomas at ASCO; results continue to demonstrate significantly prolonged PFS in N Am and L-sarcoma patients compared to standard treatments, with minimal or no cardiotoxicity up to 40 cycles), CYTR +18.9% (to present Phase 3 aldoxorubicin clinical data in patients with soft tissue sarcomas at ASCO; results continue to demonstrate significantly prolonged PFS in N Am and L-sarcoma patients compared to standard treatments, with minimal or no cardiotoxicity up to 40 cycles), INCY +9.5% (announces the publication of new data from the ongoing ECHO-202 trial, evaluating epacadostat in combination with Keytruda; 'well-tolerated and demonstrates durable clinical responses across multiple solid tumors), P +8.2% and SIRI +0.8% (Pandora Media said to be back in active talks with Sirius XM Radio regarding a possible acquisition, according to the NYPost), NSPR +5.1% (announces the publication of the Investigator Initiated IRON-GUARD Italian clinical registry in the peer reviewed journal EuroIntervention, which appeared in the May 9th issue), IMGN +2.5% (will present new clinical data with mirvetuximab soravtansine in ovarian cancer at ASCO; Pooled analyses of Phase 1 expansion cohorts demonstrate clinically meaningful activity in patient population being studied in FORWARD I registration trial), VRTX +1% (confirms FDA expanded approval of KALYDECO, increases product revenue guidance)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: ASNA -30.9% (lowers Q3 outlook, 'cites highly elevated promotional environment have persisted at levels significantly above our expectations'), SMRT -24.1% (also suspends quarterly dividend and reduces CapEx), ZTO -9.3% (also appoints new COO), CSCO -7.5% (also discloses additional restructuring, including 1,100 more layoffs), FLO -0.8%
Companies trading lower in after hours in reaction to news: ELGX -21% (updates regulatory status on Nellix Endovascular Aneurysm Sealing System; to host call on May 18 at 7:30am ET), RPRX -12.6% (proposes public offering of common stock and warrants to purchase common stock), GMED -10.4% (receives letter from the FDA - co has not sufficiently addressed the FDA's questions regarding 510(k) submission for the ExcelsiusGPS robotic guidance and navigation system; FY17 guidance reaffirmed), MYGN -7% (several ASCO abstracts released; one study had close to a third of all PVs identified in men with BC were in a gene other than BRCA1/2), FCAU -3.9% (reports suggest the DOJ is preparing to possibly sue Fiat over diesel emissions), SHOP -2% (filed for $2.5 bln mixed securities shelf offering), GRAM -2% (light volume; delays annual report; not in compliance with SEC reporting requirements and the continued listing requirements of the New York Stock Exchange), JNPR -1.5% (CSCO sympathy), EPZM -0.9% (ASCO publishes abstracts from Phase 2 study of tazemetostat)
Macau focused casino/gaming names are under pressure following comments from the Macau Gaming Inspection and Co-ordination Bureau on regulation/taxes: WYNN -4.2%, LVS -3.7%, MGM -1.8