Gapping up
In reaction to strong earnings/guidance:
- ERIC +10.6%, WAL +7.8%, CFG +6.1%, ALLY +5.3%, FNB +4.9%, TREE +4.5% (raises Q2 rev guidance above consensus), PPG +3.8%, FHN +3.5%, JBHT +3.3%, MRTN +2.2%, BLK +1.2%, RYAM +0.7%, ASH +0.7%, SXT +0.7%
Select biotech/vaccine co's showing strength following reports EU speaking with several biotech companies to secure vaccines for COVID-19:
- NVAX +8%, BNTX +2.1%, MRNA +1.8%
Other news:
- VRNA +103.3% (~$200 mln in an oversubscribed private placement and subscription with new and existing institutional and accredited investors)
- HMHC +26.4% (rumors on Twitter after hours that co signed new sales contracts; co denies)
- MGTX +22.7% (announces "positive" clinical data demonstrating treatment with AAV-RPGR Investigational gene therapy improves vision in X-linked retinitis pigmentosa patients)
- RADA +11.4% (received $8 mln in accumulated new orders since June 1, 2020 (received new orders of $49 mln since start of 2020); reaffirms 2020 revs guidance)
- PHAS +9.6% (doses first patient in Phase 2 trial in hospitalized COVID-19 patients)
- PBYI +3.9% (licensing partner receives marketing approval for NERLYNX in Malaysia)
- KPTI +3.3% (entered into a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute's (NCI) Cancer Therapy Evaluation Program)
- FOLD +1.9% (executed a definitive agreement for a $400 million credit facility with Hayfin Capital Management)
- SVM +1.5% (reports Q1 production results)
- TSLA +0.8% (New York State to invest $750 mln in infrastructure for electric cars)
Analyst comments:
- HL +3.5% (upgraded to Sector Perform from Underperform at RBC Capital Mkts
- NSIT +3.3% (upgraded to Buy from Hold at Stifel)