Gapping up
In reaction to strong earnings/guidance:
- YUMC +2.6%, (also announced CEO succession plan; Joey Wat will become Yum China's CEO)
M&A news:
- SNCR +26% (provides update on strategic alternatives process; enters into exclusivity agreement with Siris Capital Group following improved terms )
- LGL +3.7% (received a non-binding proposal to acquire for cash the assets of its two principal operating subsidiaries, M-tron Industries and Precise Time and Frequency)
Other news:
- GIGA +46.8% (received an additional $4.9 million order extending ongoing production of its high performance RADAR filters for a major aerospace company; updates Q2)
- TROV +19.7% (granted orphan drug designation by the FDA for its compound for the treatment of Acute Myeloid Leukemia)
- XXII +16.9% (reveals fundamental findings of 1,250-patient 20-week study that demonstrates immediate reduction to very low nicotine is most likely to lead to less harm)
- ELGX +7.4% (receives Investigational Device Exemption approval from the FDA to commence a confirmatory clinical study to evaluate the safety and effectiveness of the Nellix EndoVascular Aneurysm Sealing System)
- OHGI +6.6% (higher on light volume after confirming the opening of regional headquarters office in Hong Kong)
- GSAT +4.8% (prices offering of 73,365,231 shares of common stock at $1.65 per share)
- IMMU +3% (modestly rebounding after closing 8.5% yesterday
- KDMN +2.3% (granted orphan drug designation by the FDA for its compound for the treatment of graft versus host disease)
- APVO +1.8% (continued strength)
- MRK +1.8% (granted orphan drug designation by the FDA for Keytruda)
- UNFI +0.6% (authorizes $200 million share repurchase program)
Analyst comments:
- AVEO +6.3% (initiated with Buy ratings at Seaport Global Securities)
- PSTI +3.3% (initiated with Buy ratings at Seaport Global Securities)
- AUPH +1.1% (initiated with Buy ratings at Seaport Global Securities)
- CS +1.1% (upgraded to Outperform at RBC Capital Mkts)
