Gapping up
In reaction to strong earnings/guidance:
- N/A.
M&A news:
- CRZO +9.1% (to be acquired by Callon Petroleum (CPE) in all-stock transaction valued at $3.2 bln, or ~$13.12/share)
Select metals/mining stocks trading higher:
- MT +2%, RIO +1.3%, RGLD +0.9%, HMY +0.8%, AU +0.7%, AG +0.6%
Other news:
- GLPG +16.1% (Galapagos NV and Gilead Sciences (GILD) enter into 10-year global research and development collaboration -- Gilead to make $3.95 bln upfront payment and $1.1 bln equity investment at €140.59 per share)
- NTGN +15.7% (announces top-line results from Phase 1b clinical trial evaluating NEO-PV-01 in combination with OPDIVO in patients with advanced or metastatic melanoma, smoking-associated non-small cell lung cancer and bladder cancer)
- GSK +1.5% (announces positive headline results in Phase 3 PRIMA study of ZEJULA for patients with ovarian cancer in the first line maintenance setting)
- INFY +1.3% (continued strength)
Analyst comments:
- CROX +4.6% (upgraded to Overweight from Neutral at Piper Jaffray)
- EAT +2.1% (upgraded to Overweight from Neutral at JP Morgan)
- WORK +1.2% (initiated with an Overweight at Barclays)
- DE +1.1% (upgraded to Buy from Neutral at BofA/Merrill)
- ENLC +1% (upgraded to Buy from Hold at Jefferies)