Gapping up
In reaction to strong earnings/guidance: MCK +2%, GIS +1.7%, SHLM +1.6%, CAMP +0.5%, (also authorizes $25 mln share repurchase)
M&A news: PVTB +23% (PrivateBancorp to be acquired by CIBC (CM) for $18.80 in cash & 0.3657 of a CIBC common share), DRII +18.2% (headlines the company may be near a deal to be acquired by Apollo), OLED +5% (Universal Display acquires the OLED Intellectual Property assets of BASF SE (BASFY) for ~EUR 87 mln), ETE +3.4% (Williams Cos merger with Energy Transfer (ETE) terminated), CM +2.4% (PrivateBancorp to be acquired by CIBC (CM) for $18.80 in cash & 0.3657 of a CIBC common share), WMB +1.7% (Williams Cos merger with Energy Transfer (ETE) terminated), TSLA +1.6% (CtW Investment Group urges Tesla's Board to form a special committee to review SolarCity (SCTY) acquisition and other governance reforms), AA +1.4% (files initial form 10 registration statement for separation of upstream business, Alcoa Corporation)
Select metals/mining stocks trading higher: GFI +6.1%, HMY +4.5%, AG +4.4%, SBGL +4.3%, PAAS +4.2%, AU +3.7%, SLV +3.1%, RIO +3%, KGC +1.8%
Select oil/gas related names showing strength: BCEI +7.1%, WLL +4.4%, CHK +3.5%, PBR +3.2%, OAS +2.9%, BP +2.7%, TOT +2.6%
Other news: TSRO +73.9% (announces that the Phase 3 NOVA trial of niraparib successfully achieved its primary endpoint of progression-free survival), BPMX +27.1% (announces topline results from its Phase 2a safety study of BPX-01), IBIO +18.2% (granted orphan designation by the FDA for the its compound for the treatment of systemic sclerosis), UQM +16.1% (signs definitive stock issuance and purchase agreement with Hybrid Kinetic Group), AMRS +15.8% (Amyris and Ginkgo Bioworks partner; partnership is expected to generate over $300 million in incremental value for both companies over the next 5 years), CLVS +12.1% (trading higher in sympathy with other biotech peers), CTRV +11.5% (ContraVir Pharma and Center Point Clinical Services renew partnership agreemen), ATNM +11% ( initiates pivotal Phase 3 clinical trial for lead asset Iomab-B), MYGN +7.3% (announces its myChoice HRD test successfully identified an increased number of patients with ovarian cancer who may benefit from treatment with niraparib), CGIX +7.1% (announces that it offers Ventana PD-L1 assay as a complementary diagnostic IHC test for Genentech's (RHHBY) Tecentriq), KMPH +6.5% ( announces results from a Phase 1 proof-of-concept trial with KP511; KP511 clinical data consistent with preclinical animal data ), BSTG +6.2% (submits application to the FDA seeking oprhan designation for its Cellspan Esophageal Implants), FUEL +3.9% (continued strength after CNBC reported intraday that presidential candidate Donald Trump was using Rocket Fuel's software to track potential supporters behavior), SHPG +3.5% (announces positive topline results of SHP465 efficacy and safety study in adults with ADHD), DRNA +2.8% (announces that new preclinical data shows the potential of Dicerna Galxc subcutaneous delivery platform as Rnai drug discovery enging), BT +2.6% (provides revised financials reflecting previously announced organizational change), LC +2% (Bloomberg detailed comments from today's annual meeting, in which CEO Scott Sanborn disclosed that an investor has started buying $1 bln in debt while others wrap up their due diligence ), GILD +1.3% (Diplomat Pharmacy announces it will dispense Gilead's EPCLUSA for the treatment of patients with chronic hepatitis C virus infection)
Analyst comments: DAR +3.6% (upgraded to Buy from Neutral at Goldman), RIG +2.4% (upgraded to Hold from Sell at Evercore ISI), HZNP +2% (initiated with an Outperform at BMO Capital), NICE +1.5% (resumed with a Overweight at JP Morgan)