Gapping up
M&A related: CBST +22.7% (Cubist to be acquired by MRK for $102/share), ACY +7.6% (following late spike higher after Lee Beaumont disclosed 9.5% stake in 13D; proposes to enter into a merger agreement for $12.50 per share in cash), IACI +0.2% (planning to sell College Humor, according to reports ).
Select metals/mining stocks trading higher: CDE +3.1% GOLD +3% (upgraded to Buy from Hold at Deutsche Bank) GLD +0.4%.
Airline names trading higher (pulled back premkt since AAL update): LUV +1.4% VA +1.3% ALK +0.4%
Other news: BLRX +19.6% (reports positive data from ongoing Phase 2a Study for AML treatment; Data show six-fold increase in mobilization of AML cells from bone marrow ), GALE +10.7% (presents GALE-401 (Anagrelide Controlled Release) clinical trial data; phase 1 results demonstrate GALE-401 reduces platelet counts with tolerable safety profile), AGIO +8.7% (Agios Pharma announces Celgene decision to extend discovery phase of global strategic collaboration to April 2016; Agios to receive a $20 mln payment), ISR +6.8% (still checking), DVAX +6.7% (Dynavax Technologies and AstraZeneca to advance TLR9 agonist for treatment of asthma into Phase 2a clinical study), NVAX +4.4% (still checking), CTIC +3.4% (announced that an analysis of kinase inhibition by pacritinib demonstrated a unique kinome profile among agents in development for myelofibrosis and suggests potential therapeutic benefit across a spectrum of blood-related cancers ), NOAH +2.8% (continued strength), IDRA +2% (biotech news / M&A sympathy), BBRY +1.9% (BlackBerry and NantHealth Launch Breakthrough NantOmics Cancer Genome Browser), CANF +1.5% (Empery Asset Management discloses 8.43% passive stake in 13G filing), CELG +1.2% (announced that results were presented from multiple post-hoc analyses of its pivotal phase III First; PDUFA date Feb 22 2015), ABBV +0.8% (presents results from Phase 2 study of investigational compound Venetoclax; study evaluated preliminary ffficacy of Venetoclax in 32 patients with relapsed/refractory acute Myelogenous Leukemia), IDXX +0.5% (favorable commentary on Friday's Mad Money), AXS +0.4% (authorized the repurchase up to $750 mln of the Company's common shares; also declared a quarterly dividend of $0.29 per common share, which represents an increase of 7.4%), SHPG +0.4% (favorable commentary on Friday's Mad Money).
Analyst comments: LHO +1% (upgraded to Overweight from Equal Weight at Morgan Stanley ), AMAT +0.8% (upgraded to Buy from Hold at Deutsche Bank), EBAY +0.7% (upgraded to Buy from Hold at Stifel), ORAN +0.6% (upgraded to Buy from Neutral at Goldman; added to Conviction Buy List ), TSM +0.5% (upgraded to Buy from Neutral at BofA/Merrill)