Gapping up
In to disappointing earnings/guidance:
- REPH +15% (to restructure Acute Care segment to reduce the operating expenses; increases FY19 guidance), RPM +3.5%, STZ +3%, SMPL +1.8%
Other news:
- TST +8.7% (declared special cash distribution of approximately $94.3 mln or $1.77 per share; Board approves 1-for-10 reverse stock split effective April 26)
- GPOR +2.9% (rebounding from yesterday's 7% decline)
- SPR +2.7% (Boeing supplier rebounding from today's 5% decline -- moving higher in sympathy with BA),
- NMR +2.6% (investor day announces $1 bln wholesale cost cut reduction plan; over 60% to be completed by end of FY20; sees $300-400 mln in revenue updside)
- ZYNE +2.4% (continued strength)
- VKTX +2.4% (presents data from the company's 12-week Phase 2 study of VK2809 in patients with non-alcoholic fatty liver disease and elevated low-density lipoprotein cholesterol)
- CPRI +1.9% (following CNBC Fast Money comments)
- LUV +1.6% (following CNBC Fast Money comments)
- ZAYO +1.4% (after closing near highs on M&A related speculation)
- QTT +1% (prices upsized offering of 3,327,868 ADSs by the company and 6,672,132 ADSs by several shareholders at $10 / ADS)
- DAL +0.9% (continued strength - up more than 10% on the week)
- BA +0.9% (rebounding on reports of successful testing and the creation of a joint task force to review 737 fix)
Analyst comments:
- CBLK +7.1% (initiated with Outperform at Robert W Baird)
- NIO +3.4% (upgraded to Neutral from Underperform at BofA/Merrill; upgraded to Buy from Neutral at Citigroup)
- SMAR +1.3% (initiated with Outperform at Oppenheimer)
- FB +1.2% (upgraded to Buy from Neutral at Guggenheim)