Gapping up
In reaction to earnings/guidance:
- ATEC +27.8% (guides Q3 revenue above consensus), CDNA +14% (guides Q3 revenue above consensus), UMC +10.5% (Sep revs) BHC +6.1%, HELE +3.4%, TSM +2.2% (Sep revs) ASX +1.9% (Sep revs)
M&A news:
- EV +42.9% (Morgan Stanley (MS) will acquire Eaton Vance (EV) or an equity value of approximately $7 billion)
Other news:
- IBM +13.3% (to accelerate hybrid cloud growth strategy and execute spin-off of market-leading managed infrastructure services unit; provides in line Q3 guidance)
- ARWR +10.2% (Arrowhead and Takeda (TAK) announced a collaboration and licensing agreement to develop ARO-AAT to treat alpha-1 antitrypsin-associated liver disease)
- BIOX +8.2% (Argentina's Ministry of Agriculture has granted approval of the Company's HB4 Wheat ‘event' for growth and consumption)
- IMV +6.6% (provides updates on its vaccine candidate, DPX-COVID-19, for the prevention of infection caused by the novel coronavirus SARS-COV-2)
- FUBO +5.3% (upsizes offering by 3.3 mln shares and prices 18.3 mln shares of common stock at $10.00 per share)
- REGN +4.6% (submitted a request to the FDA for an emergency use authorization for its REGN-COV2 investigational antibody combination for COVID-19)
- SAR +4.4% (increases dividend)
- BV +4.3% (acquires Commercial Tree Care)
- COTY +4.2% (launches websites for Kylie Skin in the UK, France, Germany and Australia)
- JAZZ +4.2% (announces top-line results from the Phase 3 double-blind, multicenter, placebo-controlled, randomized withdrawal study evaluating the efficacy and safety of an investigational use of Xywav (calcium, magnesium, potassium, and sodium oxybates) oral solution in adult patients with idiopathic hypersomnia)
- GWRE +2.6% (authorizes $200 mln stock repurchase program)
- AUY +2% (increases dividend; also gets approval to list in London)
- LLY +1.9% (announces arrangement for supply of potential COVID-19 antibody therapy for low- and middle-income countries)
- AMC +1.5% (gets approval to reopen theatre)
- MRNA +1.1% (DARPA awards MRNA up to $56 mln to enable small-scale, rapid mobile manufacturing of nucleic acid vaccines and therapeutics; also announces updates on respiratory syncytial virus vaccine program)
- TBIO +1% (highlights mRNA platform potential for cystic fibrosis)
- GILD +0.9% (signs joint procurement agreement with EC for remdesivir)
Analyst comments:
- FCEL +13% (initiated with an Overweight at JP Morgan)
- CCS +3.9% (upgraded to Overweight from Neutral at JP Morgan)
- ANET +3.4% (upgraded to Overweight from Neutral at JP Morgan)
- DAN +3.3% (upgraded to Outperform from Sector Perform at RBC Capital Mkts)
- TPR +2.9% (named a Catalyst Call Buy at Deutsche Bank)
- BLL +2.8% (upgraded to Outperform from Market Perform at BMO Capital Markets)
- TSLA +2.4% (upgraded to Buy from Neutral at New Street)
- VMC +2.2% (upgraded to Buy from Hold at Deutsche Bank)
- HOG +2.2% (added to Wedbush's Best Ideas List)
- MLM +2% (upgraded to Buy from Hold at Deutsche Bank)
- ASB +1.6% (upgraded to Overweight from Equal Weight at Wells Fargo)
- MDC +1.6% (upgraded to Overweight from Neutral at JP Morgan)