>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:
  • CVEO +16.1%, L +6%, ITUB +4.5%, ERJ +3.5%, HMC +3.4%, CHKP +3.1%, WMB +2.5%,
  • INCR +1.8%, EW +0.9%, SO +0.8%, CNHI +0.5%, DO +0.5%
M&A news:
  • TMH +15.6% (to be acquired by Blackstone (BX) for $43.50 per share in cash, or approximately $6.1 bln; deal includes a 40-day go-shop period)
  • BHI +7.9% (General Electric and Baker Hughes (BHI) confirm deal to combine GE's oil and gas business with Baker Hughes)
  • LVLT +7% (to be acquired by CenturyLink (CTL) for $66.50/share)
  • SXCP +2.1% (receives proposal from SunCoke Energy (SXC) to acquire all of co's common units not it doesn't already own at an implied purchase price of $17.80)
  • GE +1.1% (General Electric and Baker Hughes (BHI) confirm deal to combine GE's oil and gas business with Baker Hughes)
Select metals/mining stocks trading higher: BBL +1.6%, BHP +1.2%, VALE +0.9%, RIO +0.8%, ABX +0.5%, AG +0.5%, .

Other news:
  • CPRX +17.3% (receives an SPA from the FDA for second phase 3 clinical trial evaluating firdapse for the treatment of LEMS)
  • OMER +5.1% (requests fast track designation from the FDA for the development of OMS721 for the treatment of Berger's disease)
  • VAL +4% (Valspar and Sherwin-Williams (SHW) respond to 'unfounded' market rumors, say they continue to cooperate fully with the FTC staff)
  • SWHC +2.1% (expands the company's existing revolving line of credit)
  • SCTY +2.1% (Elon Musk revealed Solar roof plus Powerwall 2.0)
Analyst comments:
  • WM +1.3% (upgraded to Buy from Neutral at BofA/Merrill)
  • DE +1% (upgraded to Outperform from Neutral at Robert W. Baird)
Gapping down
In reaction to disappointing earnings/guidance:
  • ZBH -9%, CTL -7.7%, BSFT -5.1%, DM -3.3%, UCP -2.5%, ROP -1.7%, LL -1.2%, IROQ -0.9%, CAH -0.7%
Other news:
  • MEMP -40.4% (confirms plans to suspend quarterly cash distributions and initiates process to explore strategic alternatives)
  • GRVY -2.1% (modestly pulling back following Friday's strength post earnings)
  • PGNX -1.8% (receives notification of a Paragraph IV certification for certain patents for RELISTOR)
  • MOMO -0.5% (Chief Technology Officer Zhiwei Li resigns for personal reasons effective November 1)
Analyst comments:
  • NKE -1.9% (downgraded to Underperform from Neutral at BofA/Merrill )
  • NVO -1.4% (downgraded to Neutral from Buy at Citigroup )
  • XOM -0.9% (downgraded to Neutral from Buy at Goldman; removed from Conviction Buy List)
  • ABBV -0.7% (downgraded to Neutral from Outperform at Credit Suisse)
  • HD -0.6% (downgraded to Neutral from Overweight at Piper Jaffray)
  • LOW -0.5% (downgraded to Neutral from Overweight at Piper Jaffray)