>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:
  • CATB +37.3%, UIS +16.6%, MDR +9.5%, LLNW +9.1%, SVU +7.8%, GCI +7.6%, CAT +6.4%, RDWR +5.8%, AKS +5.5%, ATI +5.4%, MAS +5.3%, BIIB +4.5%, LXU +4.1%, RAD +3.8%, HUM +3.2%, RRC +3.2%, RAD +3.2%, CR +3.1%, ICHR +3%, (also commences public offering of 4,500,000 ordinary shares by selling shareholders), AA +3%, JBLU +3%, FNB +2.5%, MCD +2.4%, NVS +2.3%, RE +2.3%, DD +2%, WNC +1.9%, CNC +1.4%,GPK +1.3%, EAT +1.2%, TSN +1.1%, VLO +1%
M&A news:
  • NORD +26.5% (to be acquired by by consortium led by Canada Pension Plan Investment Board and Baring Private Equity Asia for $32.50/share)
  • APFH +9.2% (to be acquired by Tyson Foods (TSN) for $40.25/share in cash)
  • STRP +7.4% (Board determines that an unsolicited offer from a 'multi-national telecommunications company' for $104.64/share in stock constitutes a 'Superior Proposal')
  • MVC +4.8% (MVC Capital announced that Equus Total Return (EQS) will acquire MVC's largest portfolio holding U.S. Gas & Electric; Transaction consideration values USG&E at $167.5 mln)
  • TSN +0.9%
Select EU financial related names showing strength:
  • CS +2%, RBS +1.4%, SAN +1.4%, LYG +1.2%
Other news:
  • CATB +35.3% (announced additional favorable results across multiple functional assessments in the MoveDMD trial)
  • CANF +25.3% (Barzilai Medical Center's Institutional Review Board has approved the Phase III ACRobat trial protocol and patient enrollment for the study)
  • CAPR +16.2% (positive top-line results from a safety and exploratory efficacy analysis of 6 month data from the randomized 12-month Phase I/II HOPE Clinical Trial of CAP-1002)
  • QURE +8.7% (will present data on its technologies to improve gene therapy as a therapeutic approach at the ASGCT on May 12 )
  • OPGN +5.7% (presents prelim results on its Acuitas Rapid Test)
  • ZSAN +4.4% (continued strength)
  • PRTK +3.7% (presents new data from a Phase 1 study on its once-daily oral and IV, broad spectrum investigational antibiotic omadacycline at the ECCMID 2017)
  • IMGN +3.6% (Highbridge Capital discloses passive stake)
  • ABEO +2.9% (announces that updated Phase 1/2 clinical trial data on the EB-101 gene therapy program)
  • GALT +2.5% (received a Decision to Grant for its patent application for "Composition of Novel Carbohydrate Drug for Treatment of Human Diseases.")
  • NVO +2.1% (in sympathy with NVS), LOGI +2% (enters new $250 mln share buyback program)
  • CVS +1.7% (in sympathy with RAD)
  • DE +1.5% (in sympathy with CAT earnings)
  • SNY +1.3% (in sympathy with NVS)
  • X +1.3% (in sympathy with AA and AKS)
  • SHPG +1.3% (in sympathy with NVS)
  • NFLX +1.2% (signs licensing agreement with China's iQiyi, according to The Hollywood Reporter)
  • GSK +1% (in sympathy with NVS)
Analyst comments:
  • IDRA +5.8% (initiated with a Outperform at Robert W. Baird; tgt $5)
  • BBY +2.6% (upgraded to Buy from Neutral at BofA/Merrill)
  • SUN +1% (upgraded to Neutral from Sell at Citigroup)
  • JPM +0.8% (upgraded to Buyfrom Neutral at Guggenheim)
  • WFC +0.7% (upgraded to Neutral from Sell at Guggenheim)
  • AXP +0.6% (upgraded to Buy from Neutral at Guggenheim)