Gapping up
In reaction to earnings/guidance:
- ORCL +12.5% (also increases share repurchase program by $10 bln), CXM +7.5%, AVGO +5.9% (also increases dividend by 14%; announces new $10 bln share repurchase program), CF +4.5% (raises FY21 adjusted EBITDA guidance), ASO +4.4%, LESL +4.1% (also announces $300 mln share repurchase authorization), COST +1.5%, CNC +1.2% (sees FY22 EPS in line and FY22 revs above consensus; details Value Creation Plan)
M&A news:
- RRD +3.2% (Chatham Asset Mgmt increases offer to acquire RRD to $10.85/sh in cash)
- IRM +1.5% (to acquire ITRenew)
Other news:
- CNTX +31.1% (announces "positive" data from ONA-XR in early breast cancer at 2021 San Antonio Breast Cancer Symposium)
- AI +18.7% (receives $500 mln agreement from US Dept of Defense)
- OCX +11.7% (DetermaIO clinical test predicts response to immunotherapy in triple negative breast cancer)
- HALO +3.8% (authorizes new $750 mln share repurchase program)
- CYTK +3.8% (presents data at the 32nd International Symposium on ALS/MND including an analysis of baseline characteristics from the initial patients enrolled in COURAGE-ALS)
- ABUS +2.8% (amended Cross License Agreement with Genevant Sciences GmbH)
- CCK +2.2% (authorizes new $3 bln share repurchase program)
- ORC +2.2% (increases share repurchase program to bring it up to 10% of shares outstanding)
- VAL +2.1% (announces support agreement with the Seatankers)
- ZUMZ +1.9% (discloses authorization for repurchase of $150 mln in common stock)
- XM +1.8% (Tiger Global increases passive stake to 6.8% (prior ~1.1%)
- CLNN +1.7% (presented data from the RESCUE-ALS Phase 2 study of CNM-Au8)
- WM +1.3% (increases dividend; also approves $1.5 bln share repurchase program),
- LCID +1.2% (announced the pricing of its offering of $1,750,000,000 aggregate principal amount of 1.25% convertible senior notes due 2026)
- NEWP +1.1% (appoints prior CEO and founder Dr. Rui Feng as Chairman), .
Analyst comments:
- CXM +9.2% (upgraded to Overweight from Neutral at JP Morgan)
- BHG +8% (upgraded to Overweight from Neutral at JP Morgan)
- PAY +5.4% (initiated with a Buy at Goldman)
- JBL +4.1% (upgraded to Buy from Neutral at Goldman)
- ARNC +3.3% (upgraded to Overweight from Neutral at JP Morgan)
- GBX +2.2% (upgraded to Overweight from Equal-Weight at Stephens),