Gapping up
In reaction to strong earnings/guidance:
- TSEM +11.2%, BAH +7.1%, ONDK +7.1%, SITC +2.6%, SNY +2.4%, AWI +0.8%
M&A news:
- MYL +14.4% (Mylan N.V. confirms agreement to combine with Pfizer's (PFE) off-patent branded and generic established medicines business)
- TRI +0.8% (confirms that it and Blackstone (BX) are in discussions related to a possible acquisition of Refinitiv by the London Stock Exchange Group)
Other news:
- PRQR +6.4% (granted access to the PRIority MEdicines (PRIME) program by the EMA)
- MAXR +5.3% (confirms partnership in a network team led by Alberta Innovates that was selected by the Government of Canada for a Strategic Innovation Fund investment)
- GNFT +4.9% (granted Orphan Drug Designation by FDA & EMA for elafibranor for the treatment of Primary Biliary Cholangitis)
- TEVA +4.8% (in sympathy with MYL)
- GRUB +4.5% (European online food delivery rivals Takeaway.com and Just Eat announce $10 bln merger)
- GHDX +2% (Genomic Health to combine with Exact Sciences (EXAS) for $72.00 per share in a cash and stock transaction valued at $2.8 billion)
- BHC +1.8% (in sympathy with MYL)
- AZN +1.7% (in sympathy with SNY)
- BUD +1.4% (continued strength)
- PRGO +1.1% (in sympathy with MYL)
Analyst comments:
- EHTH +5.1% (upgraded to Strong Buy at First Analysis Sec)
- NVCR +2% (upgraded to Buy from Hold at SunTrust)
- SHAK +1.8% (initiated with a Buy at Goldman)
- GILD +1.5% (upgraded to Top Pick from Outperform at RBC Capital Mkts)
- CMG +1.3% (initiated with a Buy at Goldman and also added to Conviction Buy List; tgt $1000)
- RMD +0.7% (upgraded to Buy from Neutral at UBS)