Gapping up
In reaction to strong earnings/guidance:
- BIDU +3% (guides Q4 revs above consensus; pushes back Q4 reporting date due to the coronavirus), ABG +2.6%, CTLT +1.6% (also to acquire MaSTherCell Global and Orgenesis for an aggregate of $315 million in cash)
Other news:
- AIMT +16.7% (announces that the FDA approved PALFORZIA, the first approved treatment for patients with peanut allergy)
- AVXL +11.9% (FDA has granted Fast Track designation for ANAVEX2-73 clinical development program for the treatment of Rett syndrome)
- MAXR +6.6% (selected by NASA to build and fly robotic spacecraft assembly technology on Restore-L)
- GILD +4.8% (Remdesivir will be tested for use on coronavirus in China, according to Bloomberg)
- BW +4.5% (announces comprehensive debt refinancing agreement as financial performance improves)
- ARES +2.6% (to acquire seven CLO contracts through a managing interest in Crestline Denali Capital; all cash transaction will add $2.6 bln in assets under management
- BABA +1.1% (rebounding following last week's weakness)
- RGS +1% (announces transaction with Empire Education Group; cos entered into an agreement pursuant to which Regis will sell its interest in Empire Education Group in exchange for de minimis cash compensation)
Analyst comments:
- CLNE +4.3% (upgraded to Mkt Perform from Underperform at Raymond James)
- NKTR +4.1% (upgraded to Buy from Neutral at Mizuho)
- AXTA +3.4% (upgraded to Outperform from Market Perform at BMO Capital Markets)
- MMSI +2.4% (upgraded to Outperform from Mkt Perform at Raymond James)
- XLRN +2.3% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- NKE +2.3% (upgraded to Buy from Neutral at UBS)
- ULTA +2.1% (upgraded to Buy from Neutral at Goldman)
- STX +1.7% (upgraded to Buy from Hold at Stifel)
- AMAT +0.9% (upgraded to Buy from Hold at Deutsche Bank)
- KKR +0.9% (upgraded to Overweight from Equal Weight at Barclays)