Gapping up
In reaction to strong earnings/guidance:
- JEC +3%
M&A news:
- MDCO +22.8% (to be acquired by Novartis (NVS) for $85.00/share in cash)
- TIF +5.7% (confirms agreement to be acquired by LVMH (LVMUY) for $135/share in cash, or approximately $16.2 bln)
Other news:
- SRNE +18.1% (says rejects cash acquisition proposal for between $3.00-5.00/share)
- ZIOP +7.8% (presents clinical data for controlled IL-12; reinforced favorable safety profile and initial data)
- OYST +7.7% (reports positive top-line results from the Phase 1 ZEN Study)
- AGIO +5.9% (presents new phamacodynamic and response data from both cohorts of perioperative study of vorasidenib and TIBSOVO)
- TSLA +4.2% (CEO Elon Musk tweets "187K Cybertruck orders so far, with 42% choosing dual, 41% tri & 17% single motor")
- AMTD +2.7% (to be acquired by Charles Schwab (SCHW) for approximately $26 bln in all-stock transaction) .
Analyst comments:
- RAPT +6.7% (initiated with an Outperform at Wells Fargo)
- ARWR +5.7% (upgraded to Outperform from Neutral at Robert W. Baird)
- ZS +3.9% (upgraded to Buy from Neutral at BofA/Merrill)
- OPK +3.7% (initiated with an Overweight at Piper Jaffray)
- NVDA +2.6% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- DECK +1.9% (upgraded to Outperform from Market Perform at Wells Fargo)
- DKS +1.9% (upgraded to Buy from Neutral at BofA/Merrill)
- WEN +1.5% (upgraded to Buy from Hold at Stifel)
- WING +1.5% (upgraded to Outperform from Neutral at Robert W. Baird)
- HAS +1.3% (upgraded to Buy from Neutral at UBS)
- ENR +1.1% (upgraded to Neutral from Underweight at JP Morgan)