Gapping up
In reaction to strong earnings/guidance:
- HOME +19.9%, DKS +14.6%, PK +8.2%, BKNG +3.8% (withdraws Q1 guidance due to coronavirus), TSM +3.8%, ASX +3.6%, ANTM +3.6% (reaffirms guidance), PSN +3.1%, PRPL +1.4%, DOMO +1.1%
M&A news:
- CY +47.6% (receives clearance from CFIUS for merger with Infineon)
Select ETFs showing strength:
- IGV +7.3%, XLK +5.1%, XLF +5.1%, XLI +5%, QQQ +4.6%, SPY +4.5%, IWM +4.5%, DIA +4.4%, IBB +3.3%, XLP +3.2%
Select travel related stocks trading higher:
- NCLH +13.5%, CCL +11.4%, RCL +8.1%, AAL +7.8%, SAVE +7.1%, UAL +6.5%, DAL +5.1%, JBLU +4.9%, LUV +3.6%
Select oil/gas related names showing strength:
- DVN +12.5%, HAL +12.3%, RDS.A +11.5%, SLB +9.8%, TOT +8.7%, XLE +8.1%, BP +7.6%, XOM +6.9%, PSX +5.2%
Other news:
- OVV +74.3% (reiterates its capital structure, significant liquidity and operational flexibility)
- MRO +18.5% (announces an immediate capital spending reduction of at least $500 mln relative to its previously communicated 2020 capital spending budget of $2.4 bln
- NVAX +14.5% (Emergent BioSolutions signs development and manufacturing agreement with Novavax (NVAX) for experimental vaccine candidate for coronavirus disease
- MESO +12.2% (to evaluate anti-inflammatory cell therapy remestemcel-l for treatment of COVID-19 lung disease)
- CVE +10.7% (reduces FY20 capital spending by 32%)
- NIO +8.8% (delivered 707 vehicles in February 2020, consisted of 671 ES6s, the Company's 5-seater high-performance premium electric SUV, and 36 ES8s)
- NVDA +5.9% (defers plans to deliver webcast keynote)
- BDX +4% (CerTest Biotec and BDX announce COVID-19 diagnostic test)
- CNI +3.8% (cancels presentation at JP Morgan conference)
- GKOS +3.4% (to join S&P SmallCap 600)
Analyst comments:
- SM +48.6% (upgraded to Overweight from Equal Weight at Wells Fargo)
- NBL +13.5% (upgraded to Overweight from Equal Weight at Wells Fargo)
- UBS +11% (upgraded to Buy from Neutral at Goldman)
- BKR +7% (upgraded to Overweight from Neutral at JP Morgan)
- ATVI +6.4% (upgraded to Outperform from Perform at Oppenheimer)
- CREE +5.5% (upgraded to Neutral from Underweight at JP Morgan)
- QCOM +4.7% (initiated with a Buy at Nomura)
- UPS +4.4% (upgraded to Buy from Hold at Stifel)