Gapping up
In reaction to earnings/guidance:
- AN +3.5%, SI +3.1%, IBM +3%, EDU +3%, DOV +2.9%, DOV +2.8%, STLD +2.6%, CCK +2.5%, MAN +1.7%, TRV +1.6%, HXL +1.4%, WTFC +1.3%, GMAB +1.3% (reports Q1 net sales of DARZALEX totaled $1.365 bln (receives royalties on worldwide net sales from JNJ's Janssen) SGRY +1.3%, FNB +0.5%,
M&A news:
- KSU +18.2% (Canadian National (CNI) announced that it has made a superior proposal to combine with Kansas City Southern (KSU) in a cash-and-stock transaction valued at $33.7 billion, or $325/share)
Other news:
- SNDX +5.8% (announces updated data from Phase 1 dose escalation portion of Phase 1/2 AUGMENT-101 trial of SNDX-5613)
- JCOM +4% (to separate into two publicly traded companies)
- BAOS +4% (Hires project lead and purchases 1,000 mining machines to start blockchain and cryptocurrency business)
- PEBO +2.9% (increases quarterly cash dividend to $0.36 per common share from $0.35 per share)
- AVNW +2.9% (signs multi-million dollar 5G network agreement with Africell)
- BIIB +2.1% (And Eisai (ESALY) report 18-month, pre-specified analysis showing consistent reduction in clinical outcome measures from a Lecanemab Phase 2b clinical trial in early Alzheimer's disease was published)
- GNW +1.9% (files registration statement for IPO),
- CANG +1.5% (enters agreement with Zhengzhou Nissan Auto Sales Service Co. to develop a new retail model for automotive transactions),
- RNLX +1.1% (announces the findings of a new study in which the commercially available KidneyIntelX test accurately predicted progression of diabetic kidney disease in a multinational cohort from the CANagliflozin CardioVAScular Assessment Study 1 with early-stage DKD)
- GNK +0.8% (outlines strategy for dividend payouts, growth and deleveraging)
- AZN +0.7% (and Daiichi Sankyo (DSNKY) UK report that NICE recommended Enhertu for use within the Cancer Drugs Fund (CDF) as an option for treating HER2 positive unresectable or metastatic breast cancer),
Analyst comments:
- FSR +6.5% (initiated with a Buy at BofA), ORMP +3% (initiated with a Buy at Canaccord), TDUP +2.8% (initiated with an Outperform at William Blair), ZH +2.5% (initiated with a Buy at Goldman), BE +2.2% (initiated with an Overweight at Wells Fargo), RXT +0.6% (initiated with an Outperform at Raymond James),