Gapping up
In reaction to strong earnings/guidance:
- CONN +20.9%, FIVE +16%, ZS +13.4%, OKTA +5.3%, CMTL +4.4%, GEF +3.5%, ABM +3.5%, MTN +1.9%, CATO +1.5%, (May comps), SONC +1.5%, COST +0.5%, (May comps)
M&A news:
- AVHI +25.8% (to be acquired by Taylor Morrison Home (TMHC) for $21.50/share in cash & stock)
- BR +4.2% (acquires MackayWilliams)
- AFSI +3% (agrees to amended merger agreement with Evergreen Parent, consideration increased from $13.50/share in cash to $14.75/share in cash -- Icahn Group agrees to support amended merger agreement)
- TEUM +1.7% (to acquire Artilium plc for approximately $104.7 mln)
- ENTG +1.5% (to acquire SAES Pure Gas Business for $355 mln)
Other news:
- AXON +31.6% (continued momentum after yesterday's 160% move higher)
- ATHX +20.1% (to expand collaboration with HEALIOS K.K. into additional therapeutic areas)
- OPHT +15.4% (enters into an exclusive global license agreement with the University of Florida Research Foundation and the University of Pennsylvania)
- BHLB +6.6% (will replace Ollie's in the S&P SmallCap 600)
- FTV +4.1% (Fortive announces binding offer to acquire the Advanced Sterilization Products business from Johnson & Johnson (JNJ) for approximately $2.7 bln in cash
- CMRX +3.3% (received Orphan Drug Designation from the FDA forbrincidofovir as a treatment of smallpox)
- HEAR +2.8% (announced new partnership with esports franchise Team Allegiance)
- AGN +2.7% (on reports that Icahn is building stake)
- REDU +2.5% (priced follow-on public offering of 7 mln American depositary shares by the selling shareholders at $14.75/ADS)
- AABA +1.5% (commences tender offer to purchase up to 195 mln issued and outstanding shares of its common stock)
- VKTX +1.2% (proposed public offering of common stock)
- TRI +1.1% (to buy back up to an additional $1 bln of its shares under a new repurchase program)
- VSH +0.9% (proposed offering of $525 mln convertible senior notes due 2025)
- MRTX +0.9% (proposed public offering of common stock)
Analyst comments:
- IMMU +1.9% (initiated with a Buy at B. Riley FBR)
- SPOT +1.9% (upgraded to Buy from Neutral at Buckingham Research)
- CSIQ +1.7% (upgraded to Neutral from Underweight at JP Morgan)
- CMCSA +1.3% (resumed with a Buy at Jefferies)
- DRI +0.9% (upgraded to Buy from Hold at SunTrust)
