Gapping up
In reaction to strong earnings/guidance:
- RLOG +26.3%, CGA +23.9%, BLIN +17.9%, CDXC +10.7%, SALE +10.6%, KOOL +9.7%, (thinly traded), NVTA +9.2%, URRE +6.4%, PDFS +6%, CRL +4.3%
- GUID +3.9%, CSOD +3.8%, QTNA +3.3%, NBL +2.4%, GILT +2%, NVMI +1.7%, FLIR +1.6%, GPOR +1.5%, SCI +1.5%, GNRC +1.4%, SMI +1.4%
- CHGG +1.2%, BRKR +1.2%, CS +1%, OMF +0.8%, DSX +0.5%
M&A news:
- GIG +12.9% (GigPeak to be acquired by Integrated Device Technology for $3.08/share, or approximately $250 mln)
- GM +4.1% (Peugeot confirms it is exploring numerous strategic initiatives with GM, aiming at improving its profitability and operational efficiency, including a potential acquisition of Opel)
- IDTI +3.4% (GigPeak to be acquired by Integrated Device Technology for $3.08/share, or approximately $250 mln)
Select metals/mining stocks trading higher:
- FSM +4.6%, HMY +3%, SBGL +2.8%, KGC +2.5%, AU +1.4%, SLW +1.4%, IAG +1.3%, GOLD +1.3%, GG +1.2%, GDX +1.2%, MUX +1%
Select Dry Shipping related names showing continued strength:
- SINO +16.6%, STNG +6.8%, DCIX +3.3%, DRYS +2.5%
Other news:
- ZAIS +23.9% (thinly traded; higher after reporting estimated unaudited net performance returns for the month ended January and Christian Zugel active stake disclosure
- CBIO +15.8% (provides update on its clinical development plans for its next-generation Factor VIIa and Factor IX candidates and reiterated its intention to commence two clinical trials in individuals with hemophilia B in 2017)
- AXSM +12% (receives fast track designation from the FDA for AXS-05 for treatment resistant depression)
- MRNS +11.2% (announces the publication of preclinical data in the January issue of Neuropharmacology)
- AGEN +7% (Agenus & Incyte (INCY) amend license, development, & commercialization agreement; Agenus will receive accelerated milestone payments of $20 mln & a $60 mln equity investment)
- TRXC +4.5% (announces first clinical use of Senhance Robotic Surgical System in France; now used to treat gynecologic cancer patients in France )
- AUPH +4.1% (announces the results of a supportive Phase I safety, pharmacokinetic and pharmacodynamic study in healthy Japanese patients which supports further development of voclosporin in this patient population)
- BLDP +3% (has joined consortium with New Flyer to deploy 20 zero-emission fuel cell electric buses in California )
- IONS +2% (announces $75 mln from Bayer (BAYRY) for advancing IONIS-FXIRx and Ionis-FXI-Lrx)
- GILD +1.4% (announces findings from new preclinical study evaluating novel class of HIV capsid inhibitors that support continued investigation; presents new phase 2 data on bictegravir)
- CHK +1.3% (FY17 prod guidance and Cap-ex budget)
- SHLD +1.1% (after declining another 8% on Monday)
- F +1.1% (in sympathy with GM)
Analyst comments:
- STNG +6.8% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- Z +2.4% (upgraded to Buy at Stifel)
- VIP +2.3% (resumed with a Buy at Goldman)
- CCJ +2.3% (upgraded to Outperform from Market Perform at BMO Capital Markets)
- FRAC +1.8% (initiated with a Outperform at Wells Fargo; initiated with a Overweight at Morgan Stanley)
- NE +1.5% (upgraded to Buy from Hold at Societe Generale)
- UA +1.4% (upgraded to Equal-Weight from Underweight at Morgan Stanley)