Gapping up
In reaction to strong earnings/guidance:
- PBA +1.2% (raises FY18 adjusted EBITDA guidance)
M&A news:
- P +8.8% (to be acquired by SiriusXM (SIRI) in all-stock transaction valued at approximately $3.5 bln, or implied price of $10.14/share)
- GOLD +6.9% (confirms merger with Barrick Gold)
Other news:
- AMRN +299.7% (announces topline results from Vascepa cardiovascular outcomes trial -- REDUCE-IT met its primary endpoint demonstrating an approximately 25% relative risk reduction) CGC +26.2% (cautious Barrons article)
- XON +25.9% (announces advances in the development of its microbial platform to produce cannabinoids for medical uses)
- EPZM +18% (FDA lifts partial clinical hold on tazemetostat clinical program)
- AKCA +9.9% (Akcea Therapeutics & Ionis Pharmaceuticals (IONS) announce 'positive' topline results from a Phase 2 clinical study of AKCEA-APO(a)-LRx in patients with established cardiovascular disease and elevated levels of lipoprotein)
- ALXN +6.6% (positive topline results from the Phase 3 PREVENT study of Soliris)
- INSY +4.8% (recently completed a human proof-of-concept study of dronabinol inhalation)
- IAG +3.8% (announces updated Resource and Reserve estimate for its Rosebel Gold Mine in Suriname)
- ABT +2.8% (positive clinical study results from a randomized controlled trial comparing treatment with the MitraClip device)
- TRXC +2.3% (acquires assets of MST Medical Surgery Technologies)
- SRPT +1.3% (FDA has lifted the clinical hold for the Company's Duchenne muscular dystrophy micro-dystrophin gene therapy program)
Analyst comments:
- AVP +3.3% (upgraded to Buy from Neutral at DA Davidson)
- MIDD +1% (upgraded to Buy from Neutral at Buckingham Research)
- PAA +0.8% (upgraded to Buy from Hold at Stifel)
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