Gapping up
In reaction to earnings/guidance:
- AXGN +18%, FDX +9%, BRC +4.1%, ADBE +2.1%, TRTN +1.5%
Other news:
- AMCX +16.8% (exec chairman departs; also plans to commence modified Dutch auction for up to $250 mln; James Dolan named Non-Exec Chairman),
- TLSA +15.2% (announces planned spin out of StemPrintER into a new publicly listed company, Accustem Sciences)
- ARWR +9.5% (announced positive interim 24-week liver biopsy results in four subjects from AROAAT2002 as a treatment for the rare genetic liver disease associated with alpha-1 antitrypsin deficiency)
- BRC +6.8% (increases dividend)
- MDWD +6.2% (announces FDA accepted for review BLA for NexoBrid for eschar removal (debridement) in adults with deep partial-thickness and/or full-thickness thermal burns)
- AVEO +6.1% (announces publication of Phase 3 TIVO-3 study)
- UPS +4.3% (in sympathy with strong FDX earnings)
- WPRT +2.5% (to sell assets of Rohan BRC Gas Equipment), GM +2.3% (aiming to manufacture family of electric car drive systems and motors, according to Reuters)
- VSTO +2.1% (updated results from the ongoing investigator-initiated Phase 1/2 FRAME study evaluating VS-6766, its RAF/MEK inhibitor, in combination with defactinib)
- LLY +1.9% (announces proof of concept data for neutralizing antibody LY-CoV555 in the COVID-19 outpatient setting)
- HST +1.8% (provides update on 3Q20 business trends)
- OI +1.7% (provides investor update in presentation)
- TAK +1.3% (to divest TachoSil for €350 mln)
- APDN +1.1% (to launch clinical trial for veterinary use of linear COVID-19 vaccine candidate)
- MSFT +1% (increases dividend)
Analyst comments:
- VECO +9.2% (upgraded to Buy from Neutral at Goldman)
- CVET +4.8% (upgraded to Buy from Hold at Stifel)
- TPR +4.5% (upgraded to Buy from Hold at Deutsche Bank)
- NGD +2.7% (upgraded to Sector Outperform from Neutral at CIBC)
- DAVA +1.5% (upgraded to Buy from Neutral at Citigroup)
- DLR +1.2% (upgraded to Outperform from Market Perform at BMO Capital Markets)
- EXK +0.9% (upgraded to Neutral from Sector Underperform at CIBC)
- KBH +0.8% (upgraded to Outperform from In-line at Evercore ISI)
- LEN +0.8% (upgraded to Outperform from Sector Perform at RBC Capital Mkts)