Gapping up
In reaction to strong earnings/guidance:
- N/A.
M&A news:
- VSM +2.1% (received a revised proposal from Merck KGaA (MKKGY) to acquire Versum for $53/share) .
Select metals/mining stocks trading higher:
- SBGL +4.3%, HMY +3.1%, GOLD +1.3%, RIO +1.2%, MTL +1%, BHP +0.7%, BBL +0.7%
Other news:
- NBEV +11.7% (files for $200 mln mixed securities shelf offering)
- ALNY +2.1% (Alnylam Pharma and Regeneron Pharma (REGN) announce collaboration to discover, develop and commercialize new RNA interference therapeutics for a broad range of diseases by addressing disease targets expressed in the eye and central nervous system)
- CTST +1.8% (announces that its cultivation and processing permit under Health Canada Cannabis Regulations was amended to include the final 20% of its Phase 2 expansion
- DXC +1.5% (BMW (BMWYY) signs agreement with DXC Technology to accelerate driverless car development)
- TSLA +1% (continued strength from Friday)
Analyst comments:
- Z +5% (upgraded to Outperform from Market Perform at Cowen)
- ARDX +4.9% (initiated with a Overweight at Piper Jaffray)
- SNAP +4.8% (upgraded to Outperform at RBC Capital Mkts)
- PSTG +2.8% (upgraded to Outperform at Cowen)
- AMC +1.9% (upgraded to Buy from Neutral at B. Riley FBR)
- SYMC +1.9% (upgraded to Buy from Neutral at Goldman)
- WYNN +1.8% (upgraded to Buy from Hold at Jefferies)
- PII +1.6% (upgraded to Overweight from Sector Weight at KeyBanc Capital Markets)
- STX +1.4% (upgraded to In-line from Underperform at Evercore ISI)
- PG +0.7% (upgraded to Outperform from Market Perform at Wells Fargo)