Gapping up
In reaction to strong earnings/guidance:
- RECN +19.3%, PKE +5%, STZ +4.4%, HPQ +3.2% (sees FY19 EPS in-line, announces 15% dividend increase), CP +1.1%
M&A news:
- CLDR +23.5% (Hortonworks [HDP] and Cloudera [CLDR] will combine in an all-stock merger; HDP shareholders will receive 1.305 common shares of Cloudera for each share of Hortonworks stock owned), HDP +22.9%
- BKS +22.7% (announces strategic alternatives process)
- SSTI +6.8% (announces acquisition of Hunchlab technology and related assets from Azavea)
Other news:
- ARWR +17.9% (enters into license and collaboration agreement with Janssen Pharmaceuticals (JNJ) to develop and commercialize ARO-HBV, will receive $175 mln as an upfront payment & $75 mln investment at $23.00/share)
- SIGA +4.7% (enters into a CRADA w/ the United States Army Medical Research Institute of Infectious Diseases)
- SRPT +3.2% (pulling back after reporting updated results from the four children dosed in its gene therapy micro-Dystrophi trial in individuals with Duchenne muscular dystrophy)
- LLY +3.1% (announces that empagliflozin met the primary efficacy endpoint for all doses investigated (2.5, 10 and 25 mg) in the Empagliflozin as Adjunctive to inSulin thErapy Phase III program in adults with type 1 diabetes)
- BLRX +2.2% (continued strength)
Analyst comments:
- EGLE +2.6% (initiated with Buy at B. Riley FBR)
- COMM +1.5% (upgraded to Buy from Hold at Cross Research)
- CMI +1.1% (upgraded to Overweight from Neutral at Piper Jaffray)
- PFBC +1.1% (upgraded to Strong Buy from Outperform at Raymond James)
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