Gapping up
In reaction to earnings/guidance:
- APP +24.9%, ALRM +9.9%, CPRX +8.4%, HLLY +8.1%, RAMP +7.5%, FLNC +7.4%, YETI +6.9%, MNTK +6.1%, CYBR +5.6%, CARG +5.2%, AOSL +5%, ODD +4.9%, PRMW +4.5%, SONO +4.4%, AQN +4.4%, KGS +4.1%, VERV +4%, BABA +3.5%, AVPT +3.3%, HROW +3%, LAW +2.9%, MFC +2.8%, JAZZ +2.8% (also resumes repurchases under previous program), CENX +2.8%, IDYA +2.8%, UTZ +2.7%, CPA +2.3%, WYNN +2.3%, FREY +2.2%, VSAT +2%, LGF.A +2% (also plans to exit Latin America), EGY +2%, IMVT +2%, WKME +1.9%, DIS +1.5% (also to boost Disney+ and Hulu prices; also to launch ad-supported offering in several countries across Europe and Canada), TSM +1.5% (July revs), USFD +1.4%, NDLS +1.1%
Other news:
- CPRI +57.5% (Tapestry (TPR) confirms definitive agreement to acquire Capri Holdings for $57.00 per share in cash for a total enterprise value of approximately $8.5 billion; expected to be immediately accretive)
- YELL +7.6% (got alternative financing offers according to Bloomberg)
- DWAC +7.2% (reaffirms commitment to merger)
- SABR +4.3% (several executives disclose insider purchases)
- ARAY +4.2% (receives FDA Clearance for VitalHold on the Radixact System; Breast cancer treatment option will also be available in the EU market)
- ATSG +3% (to offer $350 mln in convertible notes)
- SILV +2.6% (to repurchase ~5% of shares)
- PTN +2.4% (initiates clinical program for Bremelanotide co-formulated with a PDE5i for the treatment of ED in patients non-responsive to PDE5i treatment) MRTX +2.3% (Cancer Discovery publishes data for MRTX1719)
- KVUE +1.9% (to join S&P 500)
- LAZR +1.6% (stock offering by selling shareholders)
- BMY +1.5% (enters into $4 bln aggregate accelerated share repurchase agreements)
- BEN +1.3% (reports July AUM)
Analyst comments:
- DCPH +5.6% (upgraded to Buy from Hold at Stifel)
- KRNT +3.5% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- ADCT +2.7% (upgraded to Neutral from Underweight at JP Morgan)
- GDRX +2.6% (upgraded to Buy from Neutral at DA Davidson)
- RBLX +2% (upgraded to Equal-Weight from Underweight at Morgan Stanley)
- GPN +1.7% (upgraded to Buy from Hold at Jefferies)
