Gapping up
In reaction to strong earnings/guidance:
- EXPR +6%, NAVI +5.7%, IBM +4.6%, COF +2.3%, NFLX +1.7%, ASML +1.7%, ADPT +1.5% (also files for 8 mln share common stock offering by selling shareholders), ABT +1.2%, FITB +1%, UAL +0.7%, WTFC +0.6%
Other news:
- MNLO +7.4% (Point72 discloses 5.8% passive stake)
- CIT +5.8% (to join S&P MidCap 400)
- IONS +5% (announces 'positive' topline results from the Phase 2 study of AKCEA-APOCIII-LRx in the treatment of patients with hypertriglyceridemia who are at risk for or have established cardiovascular disease)
- SUPN +4.1% (reports FDA acceptance for review of NDA for SPN-812 for the Treatment of ADHD)
- ETN +2.8% (Eaton enters into agreement to sell its hydraulics business to Danfoss A/S for $3.3 bln)
- HZNP +2% (extending late move higher after announcing the FDA approved TEPEZZATM for the treatment of thyroid eye disease)
- SKT +1.9% (to join S&P SmallCap 600)
- VRSK +1.7% (Verisk Analytics to sell imagery sourcing group assets to Vexcel Imaging)
- FBK +1.5% (FB Financial [FBK] announces merger agreement with Franklin Financial Network [FSB])
Analyst comments:
- ACMR +6.4% (initiated with an Overweight at Morgan Stanley)
- NPTN +5.1% (upgraded to Buy from Hold at Needham)
- SCPL +2.5% (initiated with a Buy at DA Davidson)
- JD +1.7% (initiated with a Buy at DZ Bank)
- BABA +1.3% (initiated with a Buy at DZ Bank)
- BHC +1.2% (upgraded to Equal Weight from Underweight at Wells Fargo)
- FTNT +1.2% (upgraded to Outperform from Mkt Perform at Raymond James)
- OUT +1.2% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- ADP +1% (upgraded to Outperform from In-line at Evercore ISI)