Gapping up
In reaction to strong earnings/guidance: ISRG +8.1%, ARMH +6.4%, LAD +5.9%, BABY +5.2%, ZIXI +4.7%, GM +3.3%, MANH +2.7%, CB +2.4%, BA +2.2%, CREE +2%, DFS +1.4%, ABB +1.2%, ILMN +0.6%, OC +0.6%
M&A news: KLAC +16.5% (KLAC to be acquired by LRCX for value of ~$67.02/share, or ~$10.6 bln), SNDK +5.3% (SanDisk to be acquired by Western Digital for $86.50/share, or ~$19 bln), IM +0.5% (agreed to acquire Brazil-based Grupo ACAO; expects $300 mln in annual value-add solutions revs, and be modestly accretive to 2016 FY non-GAAP EPS)Select oil/gas related names showing strength: BP 1.8% (still checking), RDS.A 1.7% (still checking), TOT 1.5% (still checking)
Other news: XOMA +17% (Novartis acquires Admune Therapeutics and licensing agreements with Palobiofarma and XOMA Corp), KERX +8.9% (The Baupost Group disclosed 34.61% active stake in 13D filing; private placement was previously announced on October 15), EPAX +5.4% (approves an initial liquidating distribution of $2.85/share), ALLT +5.2% (receives a Q4, $10 million expansion order from a Tier-1 mobile operator), WTW +3.8% (cont strength), BWINA +3.4% (appointed Steven A. Shapiro as Executive Chairman of the Board), MT +2.7% (in symp with BHP), FIT +1.8% (still checking), BHP +1.6% (provided operational review for quarter ended Sept 30, 2015: Petroleum production declined 4% from prior year to 65 MMboe), ASML +1.2% (in symp with ARMH), F +1.1% (in symp with GM), RIO +1% (in symp with BHP)
Analyst comments: EXAS +3.2% (upgraded to Overweight from Equal Weight at a boutique firm)