Gapping up
In reaction to strong earnings/guidance:
- PETQ +13.9%, CDLX +9.1%, SORL +8.6%, PRSP +8.5%, EC +4.9%, MSGN +4.1%, WPM +2.3%
M&A news:
- EGN +6.1% (Energen to be acquired by Diamondback Energy [FANG] in all-stock transaction valued at ~$9.2 bln; representing an implied value to each Energen shareholder of $84.95/share)
Other news:
- CGC +56.5% (Constellation Brands (STZ) to invest $4 billion in Canopy Growth to establish transformative global position and alignment)
- MRT +7.5% (Bloomberg reporting the company is evaluating options including sale)
- ADNT +4.7% (will replace DCT Industrial Trust in the S&P MidCap 400)
- ERI +4.6% (to replace VeriFone S&P MidCap 400)
- AERI +1.7% (announces topline efficacy results from a double-masked, randomized, placebo-controlled study designed to evaluate the effect of Rhopressa 0.02% on aqueous humor dynamics in patients with open-angle glaucoma or ocular hypertension)
- VNDA +0.9% (Vanda Pharma wins denial of petition for rehearing on Fanapt)
Analyst comments:
- CRON +11% (upgraded to Hold from Sell at Canaccord Genuity)
- DRNA +2.6% (upgraded to Buy at H.C. Wainwright)
- TERP +2.5% (upgraded to Outperform from Perform at Oppenheimer)
- CMG +2.2% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- COLM +1.1% (upgraded to Outperform from Market Perform at Cowen)
- HAS +1% (upgraded to Buy from Neutral at MKM Partners)
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