Gapping up
In reaction to earnings/guidance:
- PK +2.8% (provides update on recent operating trends and capital allocation activity; sees Q4 FFO of $0.35-0.43 vs. $0.38 Capital IQ consensus ) BHR +2.4%, MLKN +2.2%, PAYX +1.1%
Other news:
- ORIC +57.3% (announces clinical development collaboration with Pfizer (PFE) for ORIC-533 in multiple myeloma and concurrent $25 mln equity investment by Pfizer (PFE))
- ALVO +13.7% (provides update on U.S. regulatory status of AVT02, Alvotech's proposed high-concentration, interchangeable biosimilar to humira)
- MRTX +6.9% (Adagrasib (KRAZATI) receives breakthrough therapy designation from FDA)
- FUTU +3.4% (proposed dual primary listing on The Stock Exchange of Hong Kong Limited)
- TSP +2.1% (announces restructuring; to trim 25% of workforce, will focus on autonomous trucking tech)
- GNL +1.4% (provides outlook on acquisitions)
- RAMP +1.2% (increases share repurchase program by $100 mln)
Analyst comments:
- DLO +1.7% (resumed with a Buy at BofA), GETY +1.6% (initiated with an Outperform at Wedbush), HELE +1.1% (upgraded to Buy from Neutral at DA Davidson)