>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:

  • SNAP +23%, ZEN +11.2%, CPRI +10.7%, VIAV +9.9%, PLT +8.9%, SKY +8%, PAYC +7.8%, SWKS +7.3%, ING +5.3%, TRVG +5.2%, MCHP +4.7%, ATKR +3.9%, HCLP +3.8% (also establishes record date for proposed conversion from a Delaware limited partnership to a Delaware corporation), BE +3.4% (announces new distributorship agreement with SK D&D in Korea), REGN +3.3%, VRTX +3.2%, BRKS +2.7%, CETV +1.6%, PAA +1.4%, GSK +1.3%, HUM +1.2%, CTSH +1.1%

Other news:

  • MGNX +98% (positive results from SOPHIA, a Phase 3 clinical study of margetuximab in HER2-positive metastatic breast cancer patients)
  • CDXS +3.7% (announces multi-year, exclusive supply agreement with KYORIN Pharma for the supply of a proprietary enzyme to be used in the manufacture of vibegron) I +3.6% (after seeing late move higher)
  • AXSM +3.6% (reaches agreement with the FDA under a Special Protocol Assessment for MOMENTUM Phase 3 trial of AXS-07 in the acute treatment of migraine)
  • CLF +2.3% (ticking higher after Vale declared force majeure on a number of related iron ore and pellets sales contracts as a result of the temporary suspension of the Brucutu mine production), FOLD +2.3% (announces positive data in Pompe disease phase 1/2 study)
  • TWTR +2% (following SNAP results)
  • TAK +1.7% (reports results of Phase IIIb/IV Trial PROPEL)
  • QRVO +1.5% (following SWKS results)
  • AMRS +1.5% (after surging 70%+ higher today), CSL +1.2% (authorizes buy back up to an additional 5 mln shares of common stock)
  • SWN +0.9% (releases 2019 guidance - plans for capital investment of $1.08-1.18 bln and total production of 2,055 -- 2,151 MMcfe/d)
  • RIO +0.3% (ticking higher after Vale declared force majeure on a number of related iron ore and pellets sales contracts as a result of the temporary suspension of the Brucutu mine production)

Analyst comments:

  • MRNS +12% (initiated with a Outperform at Leerink Partners; tgt $10)
  • AX +2% (upgraded to Buy from Neutral at Compass Point)
  • MIK +2% (pgraded to Buy from Hold at Loop Capital)
  • NCLH +1.8% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
  • CHD +1.2% (upgraded to Neutral from Sell at Goldman)