Gapping up
In reaction to strong earnings/guidance:
- HIBB +24.5% (says JulQ comps expected to exceed +70%; digital comps +200%), OMI +14.6% (guidance update), SBNY +6.1%, IBM +5.3% (largest EPS beat in past 4 qtrs, strong revenue upside as well), NUVA +5.2% (guides Q2 revs well ahead of consensus ests), CMA +4.4%, CDNS +4.1%, GPK +3.9%, MUSA +3.5%, UBS +3.2%, LMT +2.9%, PM +2.6%, BXS +2%, KO +2%, SNV +1.8%, LLNW +1.3%, STLD +1%, LOGI +1%
M&A news:
- NBEV +69% (to acquire ARIIX)
- RTIX +8.2% (closes on sale of OEM business, will change name and ticker)
- SYNA +5.5% (to acquire DisplayLink for $305 mln)
- DXC +1.3% (to sell healthcare software provider for $525 mln)
- EBAY +1.2% (divests its Classifieds Group to Adevinta for $9.2 bln in cash and stock deal)
Select ETFs showing strength:
- XLE +1.8%, IWM +1.2%, XLF +1.2%, QQQ +0.9%, DIA +0.9%, SPY +0.8%
Other news:
- LXRX +44.3% (announces top-line results from four Phase 3 sotagliflozin studies in type 2 diabeites)
- IFRX +16.7% (to enter Phase III development of IFX-1 in severe COVID-19 induced pneumonia)
- OPK +15.4% (Opko Health disclosed as a guest on the CNBC program, "Mad Money", that BioReference (OPK unit) had reached an agreement in principle with the NFL to provide COVID-19 testing for the NFL)
- FHB +8.8% (to join S&P SmallCap 600)
- DKS +5.8% (in sympathy with strong comps from HIBB)
- NVAX +3.7% (will present progress of NVX-CoV2373 on Tues morning)
- PSTI +2.9% (issues shareholder letter from CEO)
- CWH +2.7% (increases dividend)
- MYOK +1% (MyoKardia and Fulcrum Therapeutics (FULC) announce multi-target collaboration to discover novel targeted therapies for genetic cardiomyopathies)
Analyst comments:
- AAOI +9.4% (upgraded to Buy from Hold at Needham)
- NIO +6.7% (upgraded to Outperform from Neutral at CICC)
- CDE +5.7% (upgraded to Buy from Hold at Canaccord Genuity)
- DVN +5.2% (upgraded to Overweight from Neutral at Piper Sandler)
- HAL +5.1% (upgraded to Buy from Neutral at BofA Securities)
- PE +4.6% (upgraded to Overweight from Neutral at Piper Sandler)
- BNTX +4.2% (upgraded to Buy from Neutral at BofA Securities)
- ACI +4.1% (initiated with a Buy at Goldman, among others)
- CIEN +3.4% (upgraded to Buy from Hold at Needham)
- FANG +3.2% (upgraded to Overweight from Neutral at Piper Sandler)
- LRCX +2.5% (upgraded to Buy from Neutral at B. Riley FBR)
- SRE +1.9% (upgraded to Overweight from Sector Weight at KeyBanc Capital Markets)
- AMN +1.6% (upgraded to Buy from Hold at SunTrust)