Gapping up
M&A news:
- ENB +2.2% (to sell its Canadian natural gas gathering and processing business in the Montney, Peace River Arch, Horn River and Liard basins in British Columbia and Alberta to Brookfield Infrastructure (BIP) for CAD$4.31 bln)
- PX +2.1% (to sell the majority of its businesses in Europe to Taiyo Nippon Sanso for EUR 5 bln)
- COP +1.4% (to sell 16.5% interest in Clair Field in the UK; acquires additional 39.2% interest in the greater Kuparuk Area in Alaska)
Select EU financial related names showing strength:
- BBVA +6.5%, DB +5.8%, SAN +4.7%, ING +3.6%, CS +2.4%, PUK +1.4%
Select oil/gas related names showing strength:
- TOT +3.3%, PBR +3%, FRO +2%, BP +2%, RDS.A +1.9%, CHK +1.5%, CVX +1%, XOM +0.9%
Other news:
- ALV +3.6% (strength in auto sector in EU)
- GM +2.6% (speculation of easing duties from EU),
- MU +1.2% (rebounding from Tuesday's report that Chinese court temporarily banned chip sales for Micron in China)
- BMY +0.8% (European Commission has expanded the indication for Sprycel)
- ALNY +0.7% (publication of pivotal study results from the APOLLO Phase 3 trial of patisiran in The New England Journal of Medicine)
Analyst comments:
- GERN +3.4% (initiated with a Buy at B. Riley FBR)
- QRVO +2.3% (upgraded to Overweight from Sector Weight at KeyBanc Capital Mkts)
- BIP +1.7% (upgraded to Outperform from Neutral at Credit Suisse)
- BOOM +0.8% (initiated with a Buy at Chardan Capital Markets)
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