Gapping up
In reaction to strong earnings/guidance:
- BBCP +1.8% (guidance update)
M&A news:
- CYOU +53.5% (Changyou.com received a preliminary non-binding proposal letter to acquire shares for $10.00 per ADS, in cash), SOHU +1.8%
Select metals/mining stocks trading higher:
- GFI +3.5%, AU +1.5%, KGC +1.4%, MT +1.3%, GDX +0.9%
Other news:
- ACAD +72.4% (announces pivotal phase 3 harmony trial stopped early for positive efficacy as pimavanserin meets the primary endpoint in patients with dementia-related psychosis)
- T +7.9% (Elliott Management sends letter to Board of Directors of AT&T; noted that the opportunity could lead AT&T to a $60+ per share value by the end of 2021)
- LLY +2.4% (announces positive results for selpercatinib, demonstrating a 68 percent objective response rate and sustained durability in heavily pretreated ret fusion-positive non-small cell lung cancer)
- CHMA +1.2% (files for $200 mln mixed securities shelf offering)
- OGI +1% (receives Health Canada approval to bring total licensed production capacity to target of 76,000 kg/yr)
Analyst comments:
- NTNX +5.4% (upgraded to Positive from Negative at Susquehanna)
- PSTG +4.9% (upgraded to Positive from Neutral at Susquehanna)
- NTAP +2.7% (upgraded to Positive from Neutral at Susquehanna)
- CHGG +2.4% (upgraded to Buy from Hold at Jefferies)
- GCO +2% (upgraded to Buy from Hold at Pivotal Research Group)
- HQY +1.9% (upgraded to Strong Buy from Outperform at Raymond James)
- ALLY +1.6% (upgraded to Overweight from Equal-Weight at Stephens)
- FFIV +1.4% (upgraded to Overweight from Neutral at Piper Jaffray)
- SAIC +1.3% (upgraded to Outperform from Market Perform at Cowen)
- CMG +1.2% (upgraded to Outperform from Neutral at Wedbush)
- NEM +0.7% (upgraded to Sector Perform from Underperform at RBC Capital Mkts)