Gapping up
In reaction to strong earnings/guidance:
- PETS +8.8%, NUAN +8.8%, HAL +2.1%, TBK +1.4%
M&A news:
- BIVV +62.7% (to be acquired by Sanofi (SNY) for $105 per share)
- JUNO +27.2% (Juno Therapeutics to be acquired by Celgene (CELG) for $87/share in cash, or approximately $9 bln)
- BG +1.3% (WSJ reports that Archer-Daniels (ADM) has made a takeover approach to Bunge)
- RCII +1.3% (Rent-A-Center and Vintage Capital entered confidentiality and non-disclosure agreement with standstill provision (Vintage previously made proposal to acquire the co for $13.00/share in cash))
Select Biotech related names showing strength after BIVV and JUNO M&A news:
- SGMO +5.6%, CLLS +3.6%, BLUE +3.4%, ABLX +2.4%, CALI +2.2%, ATRA +1.7%, SHPG +1.5%, .
Other news:
- TTNP +25% (Titan Pharma Braeburn Pharma are in discussions regarding their partnership for the development and commercialization of Probuphine, the first 6-month maintenance treatment of opioid dependence)
- CNIT +18.3% (initiates 'in-depth research on the application of blockchain, aiming to innovate the Taoping new-media sharing ecosystem, and to deliver higher returns to Taoping ecosystem partners and users')
- ARRY +8.8% (reports updated Phase 1b results for the combination of Cobimetinib and Atezolizumab)
- QURE +2.8% (received an Orphan Medicinal Product Designation (OMPD) from the European Medicines Agency for AMT-130 in Huntington's disease)
- OMER +2.2% (EMA's COMP issued a positive opinion on Omeros' application for orphan drug designation of OMS721 in the treatment of primary Immunoglobulin A nephropathy)
- NFLX +0.9% (ahead of earnings AMC)
Analyst comments:
- RUBI +11.9% (upgraded to Buy from Hold at Craig Hallum)
- HOG +2.1% (upgraded to Outperform from Market Perform at Wells Fargo)
- JNPR +2% (upgraded to Outperform from Perform at Oppenheimer)
- KEX +1.9% (upgraded to Outperform from Market Perform at Wells Fargo)
- X +1.2% (upgraded to Neutral from Sell at Citigroup)
- SLB +0.8% (upgraded to Overweight from Neutral at Atlantic Equities)
