Gapping up
M&A news:
- IMMU +106.2% (to be acquired by Gilead (GILD) for $88.00 per share in cash)
- NVDA +6.5% (to acquire Arm for $40 bln)
Select ETFs trading higher:
- SMH +2.2%, IBB +2.1%, IGV +1.6%, QQQ +1.2%, SPY +1.1%, IWM +1.1%, DIA +0.8%
Other news:
- ETNB +26.9% (announced positive topline results from its Phase 1b/2a trial with BIO89-100 in patients with nonalcoholic steatohepatitis)
- SGMS +17.3% (announces that a number of long-term institutional investors, including highly credentialed gaming industry investor Caledonia, have reached agreement to acquire a 34.9% stake in SGMS from MacAndrews & Forbes at $28.00/share)
- DVAX +10.8% (announce commercial supply agreement for inactivated, Adjuvanted COVID-19 Vaccine)
- SGEN +9.3% (Seattle Genetics (SGEN) and Merck (MRK) to collaborate on two Oncology studies: Merck to acquire $1 bln equity stake in Seattle Genetics common stock)
- CEL +7.2% (appoints Shai Amsalem as the Company's CFO effective September 13)
- MOGU +5.6% (authorizes the repurchase up to $10 mln of its shares, effective until September 12, 2021)
- CNSL +5.6% (announces strategic investment from Searchlight Capital Partners; initiates refinancing)
- RADA +4.2% (receives $10 mln in accumulated new orders since mid-July 2020; reaffirms guidance)
- BNTX +3.6% (BioNTech and Pfizer propose expansion of pivotal COVID-19 vaccine trial)
- PFE +2.6% (BioNTech and Pfizer propose expansion of pivotal COVID-19 vaccine trial)
- AKBA +2% (amended manufacture and supply and facility construction agreement) NAV +2% (issues statement regarding revised proposal from TRATON; believes it serves as a starting point for exploring possibility of a transaction)
- MRK +1.3% (Seattle Genetics and Merck (MRK) to collaborate on two Oncology studies: Merck to acquire $1 bln equity stake in Seattle Genetics common stock)
Analyst comments:
- GME +11.8% (upgraded to Outperform from Market Perform at Telsey Advisory Group; upgraded to Buy from Hold at Jefferies)
- OSTK +7.5% (initiated with Buy at Needham)
- MU +3.9% (upgraded to Buy from Neutral at Goldman)
- AMKR +3.2% (upgraded to Outperform from Neutral at Credit Suisse)
- ANDE +2.9% (upgraded to Outperform from Market Perform at BMO Capital Markets)
- CRUS +2.5% (upgraded to Equal Weight from Underweight at Barclays)
- GPC +1.4% (upgraded to Overweight from Neutral at JP Morgan)