Gapping up
In reaction to strong earnings/guidance:
- N/A.
M&A news:
- GNW +29.1% (receives approval from CFIUS to move forward with proposed China Oceanwide and Genworth Financial transaction)
- RCII +3.4% (ends review of strategic and financial alternatives, provides updated Q2/FY18 guidance; received letter containing an increased offer to acquire the Company after publicly announcing end of strategic and financial alternative review process)
- EVHC +3% (confirms deal to be acquired by KKR (KKR) for $46.00/share in cash, or ~ $9.9 bln)
Select EU financial related names showing strength:
- CS +2.5%, SAN +1.1%, ING +0.8%, DB +0.5%
Other news:
- TTPH +6.7% (presents data from pooled analysis of IGNITE1 and IGNITE4 Phase 3 trials evaluating Eravacycline)
- PTC +4.5% (PTC & Rockwell Automation (ROK) announce strategic partnership, Rockwell Automation to make $1 bln equity investment in PTC at $94.50/share)
- GPRK +3.7% (announced further expansion in the Neuquen basin in Argentina with the acquisition of Los Parlamentos block in partnership with YPF )
- WEB +3.3% (Starboard (Jeffrey Smith) discloses 9.4% active stake)
- FSLR +1.5% (slightly rebounding following last week's selloff)
- DAKT +1.1% (slightly rebounding following last week's 19% decline)
- VRX +1.1% (continued strength), TSLA +1% (continued strength)
Analyst comments:
- FDC +4.7% (upgraded to Buy from Neutral at Goldman)
- MTCH +2.8% (upgraded to Buy from Hold at Jefferies)
- INCY +1.6% (upgraded to Outperform from In-line at Evercore ISI)
- QLYS +0.9% (upgraded to Buy at Monness Crespi & Hardt)
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