After Hours Summary: PTCT -21.4% after drug did not meet primary endpoint; seen as positive for peer RETA +9.8%; URBN +9.3%, PANW +3.8% higher on earnings; NEWR -7.5%, A -6.5%, INTU -5.5% lower on earningsAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: URBN +9.3%, PANW +3.8%, CAAP +3.5%, TOL +3.4%, VFC +2.8%
Companies trading higher in after hours in reaction to news: RETA +9.8% (PTCT FA drug not meeting primary endpoint seen as positive for RETA), LRMR +3% (PTCT FA drug not meeting primary endpoint seen as positive for LRMR), ORLY +1.8% (increases share repurchase auth by $2 bln), AMC +1% (Antara Capital Master Fund LP disclose 15.4% stake), ODFL +0.3% (in sympathy with LSTR guidance), RKLB +0.2% (purchases bankrupt rocket firm Virgin Orbit's assets and equipment for $36 mln, according to CNBC), LMT +0.2% (awarded $195 mln US Navy contract), USPH +0.1% (files mixed shelf securities offering; also files $150 mln stock offering)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: NEWR -7.5%, A -6.5%, INTU -5.5%, LSTR -3% (lowers guidance)
Companies trading lower in after hours in reaction to news: PTCT -21.4% (FA drug did not meet primary endpoint; also announces strategic pipeline prioritization; to reduce workforce by about 8%, CFO to step down), NVTS -10.1% (commences $80 mln stock offering), PHAT -9.3% (resubmits Erosive GERD NDA to FDA; also stock offering), HASI -4.4% ($300 mln stock offering), WERN -3.4% (in sympathy with LSTR guidance), ECVT -1.7% (announces offering by selling stockholder; also announces intention to repurchase 4 mln shares in the offering), ETNB -1.4% (files mixed shelf securities offering), CHRW -0.4% (in sympathy with LSTR guidance), GOCO -0.1% (board establishes special committee to consider acquisition proposal)