Gapping up
In reaction to strong earnings/guidance: MU +10.9%, APOL +9.7%, STZ +7.1%, GBX +2.4%.
M&A news: PATH +31.6% (NuPathe disclosed letter from TEVA that enclosed a proposed draft of a merger agreement), FRX +13% (Forest Labs to Acquire Aptalis for $2.9 bln in Cash; Acquisition is Immediately Accretive; Accretive to FY2015 Non-GAAP EPS by ~ $0.78), CEC +9.4% (reports indicate co is exploring sale).
Select financial related names showing strength: RBS +2.1%, DB +1.7%, NBG +1.6%, ING +1.5%, IRE +1.3%, BAC +1.2% ( initiated with a Buy at Jefferies), JPM +0.5% (initiated with a Buy at Jefferies) .
Other news: CPRX +19.8% (reports 'positive' cardiac safety results of its phase 3 Product, Firdapse Tablets; The study met the pre-specified primary endpoint), ARTC +10.9% (announces entry into a deferred prosecution agreement; to pay $30 mln fine to the DOJ), MSTX +8.9% (provides enrollment update on Phase 3 'EPIC' Study Of MST-188; Enrollment on-track at 6 months with 40 U.S. sites open in 2013), MFRI +7.8% (still checking), SKUL +6.8% (announces Strategic Relationship With Toshiba (TOSBF) to Bring Leading Performance and Lifestyle Audio to Consumer Laptops), QIHU +5.7% (Marbridge suggesting Alibaba considering Qihoo investment), PSTI +4.6% (receives key placental patent in Australia), ENZY +4.3% (announces 'New Food Raw Material' certification for K-REAL krill oil in China), RNN +4.6% (initiates Phase Ib Clinical Trial of RX-3117 for Treatment of Solid Tumors; RX-3117 has Shown Efficacy Against Gemcitabine-Resistant Human Cancer Cell Lines and a Broad-Spectrum of Anti-Cancer Activity), PLUG +3.9% (continued strength), ALKS +3.8% (announces advances with its late-stage CNS Pipeline; Unveils New Aripiprazole Lauroxil Two-Month Product Candidate for Treatment of Schizophrenia; Clinical Testing to Begin in 2014), IAG +3.7% (still checking), ICEL +3.6% ( announced signing a long-term supply agreement with the Nestle Institute of Health Sciences SA. Terms of the agreement were not disclosed), RYAAY +2.7% (still checking), BBRY +2.4% (still checking), LRN +2.2% (announce intent to create new company led by Ron Packard ; appoints new CEO), F +1.4% (CEO Alan Mulally says he will not leave for Microsoft (MSFT), to stay at Ford at least through 2014, according to Associated Press tweet), SAP +1.1% (SAP AG cloud executive leaving, according to reports out), SNDK +0.9% (following MU results), C +0.1% (Citigroup considering sale of stakes in funds, according to reports).
Analyst comments: HP +3.8% (ticking higher, upgraded to Outperform at RBC Capital Mkts), RAD +3.8% (Rite Aid upgraded to Overweight from Neutral at JPMorgan), MTW +2.4% (upgraded to Overweight from Equal-Weight at Morgan Stanley), SODA +1.8% (initiated with a Buy at KeyBanc ), TCB +1.4% (TCF Financial upgraded to Outperform from Perform at Oppenheimer), RKUS +0.9% (initiated with a Outperform at Wedbush), ORMP +0.7% (initiated with a Buy at MLV ), SBUX +0.4% (initiated with a Outperform at Credit Suisse)
M&A news: PATH +31.6% (NuPathe disclosed letter from TEVA that enclosed a proposed draft of a merger agreement), FRX +13% (Forest Labs to Acquire Aptalis for $2.9 bln in Cash; Acquisition is Immediately Accretive; Accretive to FY2015 Non-GAAP EPS by ~ $0.78), CEC +9.4% (reports indicate co is exploring sale).
Select financial related names showing strength: RBS +2.1%, DB +1.7%, NBG +1.6%, ING +1.5%, IRE +1.3%, BAC +1.2% ( initiated with a Buy at Jefferies), JPM +0.5% (initiated with a Buy at Jefferies) .
Other news: CPRX +19.8% (reports 'positive' cardiac safety results of its phase 3 Product, Firdapse Tablets; The study met the pre-specified primary endpoint), ARTC +10.9% (announces entry into a deferred prosecution agreement; to pay $30 mln fine to the DOJ), MSTX +8.9% (provides enrollment update on Phase 3 'EPIC' Study Of MST-188; Enrollment on-track at 6 months with 40 U.S. sites open in 2013), MFRI +7.8% (still checking), SKUL +6.8% (announces Strategic Relationship With Toshiba (TOSBF) to Bring Leading Performance and Lifestyle Audio to Consumer Laptops), QIHU +5.7% (Marbridge suggesting Alibaba considering Qihoo investment), PSTI +4.6% (receives key placental patent in Australia), ENZY +4.3% (announces 'New Food Raw Material' certification for K-REAL krill oil in China), RNN +4.6% (initiates Phase Ib Clinical Trial of RX-3117 for Treatment of Solid Tumors; RX-3117 has Shown Efficacy Against Gemcitabine-Resistant Human Cancer Cell Lines and a Broad-Spectrum of Anti-Cancer Activity), PLUG +3.9% (continued strength), ALKS +3.8% (announces advances with its late-stage CNS Pipeline; Unveils New Aripiprazole Lauroxil Two-Month Product Candidate for Treatment of Schizophrenia; Clinical Testing to Begin in 2014), IAG +3.7% (still checking), ICEL +3.6% ( announced signing a long-term supply agreement with the Nestle Institute of Health Sciences SA. Terms of the agreement were not disclosed), RYAAY +2.7% (still checking), BBRY +2.4% (still checking), LRN +2.2% (announce intent to create new company led by Ron Packard ; appoints new CEO), F +1.4% (CEO Alan Mulally says he will not leave for Microsoft (MSFT), to stay at Ford at least through 2014, according to Associated Press tweet), SAP +1.1% (SAP AG cloud executive leaving, according to reports out), SNDK +0.9% (following MU results), C +0.1% (Citigroup considering sale of stakes in funds, according to reports).
Analyst comments: HP +3.8% (ticking higher, upgraded to Outperform at RBC Capital Mkts), RAD +3.8% (Rite Aid upgraded to Overweight from Neutral at JPMorgan), MTW +2.4% (upgraded to Overweight from Equal-Weight at Morgan Stanley), SODA +1.8% (initiated with a Buy at KeyBanc ), TCB +1.4% (TCF Financial upgraded to Outperform from Perform at Oppenheimer), RKUS +0.9% (initiated with a Outperform at Wedbush), ORMP +0.7% (initiated with a Buy at MLV ), SBUX +0.4% (initiated with a Outperform at Credit Suisse)