Gapping up
In reaction to strong earnings/guidance: BAC +2.8%, ADTN +1.9% (light volume), DAL +1.6%, LLTC +1.8%, CSX +1.6%, WFC +1.0%, PNC +0.2% (light volume).
M&A related: SNDK +10.1% (Bloomberg report suggests potential sale), PRGO +0.4% (Mylan hosted conf call last night to review a comprehensive presentation which outlines how Mylan's offer delivers to Perrigo shareholders an attractive premium and immediate accretion).
Select European financial names higher: CS 1.7%, DB 1.5%, HSBC 0.5%...
European pharma names are trading higher: SHPG +2.7% (initiated with a Outperform at Northland Capital), NVS 1.1%, GSK 1%, AZN 1%
M&A related: SNDK +10.1% (Bloomberg report suggests potential sale), PRGO +0.4% (Mylan hosted conf call last night to review a comprehensive presentation which outlines how Mylan's offer delivers to Perrigo shareholders an attractive premium and immediate accretion).
Select European financial names higher: CS 1.7%, DB 1.5%, HSBC 0.5%...
European pharma names are trading higher: SHPG +2.7% (initiated with a Outperform at Northland Capital), NVS 1.1%, GSK 1%, AZN 1%
Select metals/mining stocks trading higher: RIO +2.6%, BBL +2.3%, MT +2.2% (initiated with a Buy at Berenberg), VALE +1.9%, GOLD +1.6%, FCX +1%, SLV +0.9%, BHP +0.3% (WSJ discusses that BHP (BHP) plans to sell $3 bln in bonds).
A few European oil/gas names showing relative strength: SDRL +3.8%, STO +1.6%, RIG +1.5% (higher despite downgrade at Seaport Global Securities), RDS.A +1.1% (upgraded to Buy at Argus; tgt $73), BP +0.9%.
Other news: CASI +14.7% (ticking higher, receives Orphan Drug designation from the European Medicines Agency, for ENMD-2076 to treat hepatocellular carcinoma), TRIP +10.2% (TripAdvisor and Priceline announce PCLN will participate in TripAdvisor's instant booking platform), ZFGN +4.1% (following ~20 pt drop over the last two trading days), ZEN +3.5% (announces acquisition of We Are cloud SAS of Montpellier, France for $45 mln in cash), MU +2.3% (SNDK sale speculation and INTC earnings), AKRX +1.7% (appoints Duane A. Portwood as CFO), STON +1.6% (favorable commentary on Tuesday's Mad Money), HABT +1.4% (Wells Fargo discloses 10.94% passive stake in 13G filing), CQP +1.3% (Blackstone Holdings disclosed 5.5% active stake in 13D filing; may communicate with the Board / management), TANH +1% (following 30% move higher yesterday), BUD +1% (SABMiller plc and Anheuser-Busch InBev deal yesterday), WDC +0.3% (SNDK sale speculation and INTC earnings).
Analyst comments: PBMD +10.7% (initiated with a Buy at H.C. Wainwright; tgt $3), ADI +1.7% (upgraded to Outperform from Market Perform at BMO Capital), ECA +1.3% (initiated with a Buy at Deutsche Bank), DYAX +0.6% (upgraded to Outperform from Mkt Perform at Leerink Partners), MNK +0.5% (initiated with a Outperform at Northland Capital), AXTA +0.5% (initiated with a Outperform at RBC Capital Mkts), HAIN +0.5% (initiated with an Outperform at Cowen), VFC +0.3% (upgraded to Overweight at Piper), XON +1% ( initiated with a Neutral at BofA/Merrill).
A few European oil/gas names showing relative strength: SDRL +3.8%, STO +1.6%, RIG +1.5% (higher despite downgrade at Seaport Global Securities), RDS.A +1.1% (upgraded to Buy at Argus; tgt $73), BP +0.9%.
Other news: CASI +14.7% (ticking higher, receives Orphan Drug designation from the European Medicines Agency, for ENMD-2076 to treat hepatocellular carcinoma), TRIP +10.2% (TripAdvisor and Priceline announce PCLN will participate in TripAdvisor's instant booking platform), ZFGN +4.1% (following ~20 pt drop over the last two trading days), ZEN +3.5% (announces acquisition of We Are cloud SAS of Montpellier, France for $45 mln in cash), MU +2.3% (SNDK sale speculation and INTC earnings), AKRX +1.7% (appoints Duane A. Portwood as CFO), STON +1.6% (favorable commentary on Tuesday's Mad Money), HABT +1.4% (Wells Fargo discloses 10.94% passive stake in 13G filing), CQP +1.3% (Blackstone Holdings disclosed 5.5% active stake in 13D filing; may communicate with the Board / management), TANH +1% (following 30% move higher yesterday), BUD +1% (SABMiller plc and Anheuser-Busch InBev deal yesterday), WDC +0.3% (SNDK sale speculation and INTC earnings).
Analyst comments: PBMD +10.7% (initiated with a Buy at H.C. Wainwright; tgt $3), ADI +1.7% (upgraded to Outperform from Market Perform at BMO Capital), ECA +1.3% (initiated with a Buy at Deutsche Bank), DYAX +0.6% (upgraded to Outperform from Mkt Perform at Leerink Partners), MNK +0.5% (initiated with a Outperform at Northland Capital), AXTA +0.5% (initiated with a Outperform at RBC Capital Mkts), HAIN +0.5% (initiated with an Outperform at Cowen), VFC +0.3% (upgraded to Overweight at Piper), XON +1% ( initiated with a Neutral at BofA/Merrill).