Gapping up
In reaction to strong earnings/guidance:
- SNX +8.1% (also plans to separate into two cos, raises div), QDEL +6.4%, INFY +5.7%, TELA +4.8%, PSMT +3.8%, AQST +3.8%, ISRG +3.5%, TGNA +1.9%, TSM +0.8%, ELAN +0.6%
M&A news:
- SRNE +54% (received a non-binding proposal from a private equity fund to acquire a majority or all of the issued and outstanding shares of the Company for up to $7.00/share)
- DERM +2.5% (to be acquired by Eli Lilly (LLY) for $18.75 per share or ~$1.1 bln in all-cash transaction; expected to close by the end of the first quarter of 2020)
Other news:
- ACRS +19.4% (reports "positive results" from Phase 1 trial of ATI-450 for immuno-inflammatory diseases)
- RARE +17.8% (reports positive results from Phase 1/2 study of DTX301)
- MRNA +13.6% (announces additional "positive" Phase 1 data from study of CMV vaccine)
- NLOK +3% (announces special dividend of $12/sh)
- EXK +1.9% (produces 4,018,735 oz silver and 38,907 oz gold (7.1 mln oz silver equivalents) in 2019)
- NKTR +1.2% (Nektar Therapeutics and Bristol-Myers (BMY) amend Strategic Collaboration Agreement for bempegaldesleukin Plus Opdivo)
- MRTX +1% (prices offering of 3.08 mln shares of its common stock at $97.50/share)
- LEN +0.9% (increases dividend)
- TTOO +0.9% (appoints John Sperzel as CEO)
Analyst comments:
- ESTC +2.3% (upgraded to Buy at Jefferies)
- QRVO +2.1% (upgraded to Buy from Neutral at Mizuho)
- SWKS +2.1% (upgraded to Buy from Neutral at Mizuho)
- MCHP +2% (upgraded to Buy from Neutral at BofA/Merrill)
- SNAP +1.7% (initiated with a Outperform at Bernstein)
- AMAT +1.7% (upgraded to Buy from Neutral at BofA/Merrill)
- LRCX +1.6% (upgraded to Buy from Neutral at BofA/Merrill)
- SQ +1.2% (upgraded to Overweight from Equal-Weight at Stephens)
- UBER +1% (initiated with a Outperform at Bernstein)
- GOOG +0.7% (initiated with a Outperform at Bernstein)
- FB +0.7% (initiated with a Outperform at Bernstein)