Gapping up
M&A news:
- SBBP +16.2% (Xeris Pharmaceuticals (XERS) to acquire Strongbridge Biopharma Plc in stock and CVR transaction)
- COG +1.6% (Cabot Oil & Gas and Cimarex Energy (XEC) will combine in an all-stock merger of equals)
Other news:
- BYND +4.1% (Beyond Meat and Tesco (TSCDY) launch new ready meal range; also upgraded to Outperform from Underperform at Bernstein)
- VSTM +3.1% (receives Breakthrough Therapy Designation for VS-6766 with Defactinib)
- BYSI +2.7% (presents phase 1 data on the anti-cancer effect of plinabulin in combination with checkpoint inhibitors in SCLC at the American Society of Clinical Oncology Annual Meeting)
- ALLK +2.1% (data at Digestive Disease Week 2021)
- LU +1.7% (authorized $300 mln American depositary shares share repurchase program for the next six months)
- AMC +1.4% (issues statement regarding Wanda Group's sale of stake)
- TLC +1.4% (subsidiary highlights encouraging data on ISPM21 and ISPM19)
- MRNA +1.2% (Moderna and Samsung Biologics agree to fill-finish manufacturing of Moderna's COVID-19 vaccine)
- USO +1% (in sympathy with crude oil futures)
- DCRB +1% (Hyzon Motors announces strategic collaboration with Sojitz Machinery Corporation of America)
Analyst comments:
- SHLS +3.6% (upgraded to Outperform from Neutral at Credit Suisse)
- HPQ +2.1% (upgraded to Outperform from Underperform at Bernstein)
- OLLI +1.6% (upgraded to Equal-Weight from Underweight at Morgan Stanley)
- NTR +0.9% (upgraded to Buy from Hold at HSBC Securities)