Gapping up
In reaction to strong earnings/guidance:
- MAT +20.8%, OSPN +19.8%, AXE +13.9%, TENB +13.4%, SIMO +12.8%, UIS +11.9%, IPHI +10.2%, MGRC +7.1%, MXIM +6.7%, GE +6.3%, GRMN +6%, CROX +5%, WING +5%, SILK +4.5%, ZEN +4.4%, CXO +4.4%, AR +3.9%, UTHR +3.5%, WCG +3.3%, HLF +3% (also announces John Agwunobi as new CEO, effective March 2020), KBR +2.8%, AM +2.7%, RRD +2.7%, WYND +2.4%, EPR +2.2%, MTDR +2.2%, CME +2%, ACGL +1.9%, ARQL +1.8%, NATI +1.5% (also announces Eric Starkloff as new CEO after Alex Davern steps down), LHX +1.5%, MDU +1.4%, SGEN +1.4%, FMC +1.3%, ALL +1.3%, ETR +1.2%, ADP +1.2%, AMED +1.1%, HPP +1.1%, SUM +1.1%, DENN +1%, PSMT +1%, CB +0.9%, SNE +0.8%
M&A news:
- AXE +13.9% (to be acquired by Clayton, Dubilier & Rice for $81/share in cash, or approximately $3.8 bln; also reported earnings)
- VNE +3.9% (divests Chinese and Japanese JVs)
Other news:
- GDOT +23.6% (Green Dot and Walmart extend relationship through two agreements)
- PCG +15.7% (ongoing volatility; was up 32% on the day)
- CYCN +5% (announces top-line results from CAPACITY Phase 2 study of praliciguat and from study of praliciguat in diabetic nephropathy; the studies did not meet statistical significance on primary endpoints)
- CARB +3.2% (after late spike higher on M&A speculation)
- JNJ +2.7% (announces that 15 new tests from the same bottle of Johnson's Baby Powder previously tested by the FDA found no asbestos)
- FIT +1.7% (continued strength)
- AZN +1.4% (divests rights to Seroquel and Seroquel XR in Europe and Russia)
Analyst comments:
- BIIB +2.5% (upgraded to Outperform from Mkt Perform at Bernstein)
- MCHP +2% (upgraded to Strong Buy from Mkt Perform at Raymond James)
- NUS +1.1% (upgraded to Hold from Sell at Stifel)