Gapping up
In reaction to strong earnings/guidance: NEO +6.9%, ABBV +1.8%.
M&A news: TEG +13.8% (Wisconsin Energy (WEC) to acquire TEG for $9.1 bln in cash; total consideration is valued at $71.47 per Integrys share), CENT +11.7% (Harbinger Group (HRG) offers to acquire Central Garden & Pet Company for $10.00 per share in cash), PLXT +12% (to be acquired by Avago Technologies (AVGO) for $6.50 in cash), MCRS +2.2% (acquired by ORCL for $68/share in cash.
Select metals/mining stocks trading higher: BHP +1.9%, CLF +1.5%, RIO +1.1%, MT +0.9%.
Other news: COCO +33.3% (U.S. Department of Education agree in principle on transition plan; co will immediately receive $16 mln in federal student aid funds earned through enrollment), TOPS +9.6% (announces delivery of first newbuild vessel), RMTI +7.8% (receives FDA approval for Calcitriol), AZC +7.4% (and Hudbay (HBM) agree to friendly acquisition), ASTI +6.5% (reaches significant milestone for its proposed joint venture with the city of Suqian of Jiangsu Province), LULU +5.6% (founder has hired Goldman Sachs (GS) to shake up Board, according to reports), RBY +5.3% (infill drilling program continues to increase confidence in the f2 deposit at the phoenix gold project), TGD +5.1% (announces four new independent nominees for board), TC +4.9% (announces pricing terms for exchange offer of common stock for its 6.50% tangible equity units), SPPI +4.3% (still checking), NSPH +2.2% (signs molecular diagnostic supply agreement with HealthTrust), GNCA +2% (announces positive Top-Line Phase 1 results for novel universal pneumococcus vaccine candidate GEN-004), PIR +2% (strength following last week's decline), NAT +1.8% (Co's spin-off Nordic American Offshore (NAO) orders two more vessels), CBST +1.6% (SIVEXTRO approved in U.S. to treat serious skin infections—including those caused by MRSA), MU +1.4% (trading higher ahead of earnings), MY +1.1% (higher on strong China PMI data), INO +1% (initiates cervical cancer clinical trial), CBI +0.8% (awarded five-year contract by Exelon Generation valued at $800 mln for plant services).
Analyst comments: SQNM +5.8% (upgraded to Outperform from Mkt Perform at William Blair), BURL +4.4% (upgraded to Buy from Neutral at Goldman), WHX +3.6% (upgraded to Outperform from Mkt Perform at Raymond James), DISH +1.3% (upgraded to Buy from Neutral at Citigroup), EXPR +1% (upgraded to Buy from Neutral at Janney), BBRY +0.9% (upgraded to Equal Weight from Underweight at Evercore).
In reaction to strong earnings/guidance: NEO +6.9%, ABBV +1.8%.
M&A news: TEG +13.8% (Wisconsin Energy (WEC) to acquire TEG for $9.1 bln in cash; total consideration is valued at $71.47 per Integrys share), CENT +11.7% (Harbinger Group (HRG) offers to acquire Central Garden & Pet Company for $10.00 per share in cash), PLXT +12% (to be acquired by Avago Technologies (AVGO) for $6.50 in cash), MCRS +2.2% (acquired by ORCL for $68/share in cash.
Select metals/mining stocks trading higher: BHP +1.9%, CLF +1.5%, RIO +1.1%, MT +0.9%.
Other news: COCO +33.3% (U.S. Department of Education agree in principle on transition plan; co will immediately receive $16 mln in federal student aid funds earned through enrollment), TOPS +9.6% (announces delivery of first newbuild vessel), RMTI +7.8% (receives FDA approval for Calcitriol), AZC +7.4% (and Hudbay (HBM) agree to friendly acquisition), ASTI +6.5% (reaches significant milestone for its proposed joint venture with the city of Suqian of Jiangsu Province), LULU +5.6% (founder has hired Goldman Sachs (GS) to shake up Board, according to reports), RBY +5.3% (infill drilling program continues to increase confidence in the f2 deposit at the phoenix gold project), TGD +5.1% (announces four new independent nominees for board), TC +4.9% (announces pricing terms for exchange offer of common stock for its 6.50% tangible equity units), SPPI +4.3% (still checking), NSPH +2.2% (signs molecular diagnostic supply agreement with HealthTrust), GNCA +2% (announces positive Top-Line Phase 1 results for novel universal pneumococcus vaccine candidate GEN-004), PIR +2% (strength following last week's decline), NAT +1.8% (Co's spin-off Nordic American Offshore (NAO) orders two more vessels), CBST +1.6% (SIVEXTRO approved in U.S. to treat serious skin infections—including those caused by MRSA), MU +1.4% (trading higher ahead of earnings), MY +1.1% (higher on strong China PMI data), INO +1% (initiates cervical cancer clinical trial), CBI +0.8% (awarded five-year contract by Exelon Generation valued at $800 mln for plant services).
Analyst comments: SQNM +5.8% (upgraded to Outperform from Mkt Perform at William Blair), BURL +4.4% (upgraded to Buy from Neutral at Goldman), WHX +3.6% (upgraded to Outperform from Mkt Perform at Raymond James), DISH +1.3% (upgraded to Buy from Neutral at Citigroup), EXPR +1% (upgraded to Buy from Neutral at Janney), BBRY +0.9% (upgraded to Equal Weight from Underweight at Evercore).