Gapping up
In reaction to strong earnings/guidance:
- SFIX +32.5%, CIEN +10.6%, CMTL +9.6%, SAIC +3.4%, SJM +2.1%, FIVE +1.6%, SMG +1%, FAST +1% (May comps), SIG +0.9%, SMAR +0.6%, GEF +0.5%,
M&A news:
- DNBF +9.1% (S&T Bancorp [STBA] will acquire DNBF in an all-stock transaction)
- JE +2.3% (to undertake formal review process to evaluate strategic alternatives following expressions of interest from a number of parties)
Other news:
- AXGT +12.6% (reported six-month follow-up data from the first dose cohort in the open-label, dose-escalation portion of the ongoing SUNRISE-PD Phase 2 trial of AXO-Lenti-PD for the treatment of Parkinson's disease)
- TSLA +2% (said to have already delivered 33k North American vehicles this quarter, is seeking to deliver another 33k before months end, according to Electrek)
- AVLR +1.9% (prices underwritten public offering of 3,594,769 shares of its common stock at a price to the public of $69.40 per share)
- AZN +1.4% (reports Phase III ELEVATE-TN trial met primary endpoint )
- MRVL +0.8% (entered broader strategic partnership with SoftBank's (SFTBY) Arm through 2022 - includes substantial investment from Arm for Marvell ThunderX development)
Analyst comments:
- FLEX +4.9% (added to Conviction Buy List at Goldman)
- DERM +2.7% (upgraded to Buy from Neutral at Mizuho)
- AMD +2% (upgraded to Equal-Weight from Underweight at Morgan Stanley)
- VLO +1.7% (upgraded to Buy from Neutral at Goldman)
- GT +1.6% (upgraded to Neutral from Underperform at Longbow)
- UAL +1.6% (upgraded to Buy from Neutral at Goldman),
- DLR +1% (upgraded to Outperform from Mkt Perform at Raymond James)
- CHGG +0.9% (initiated with Buy at Needham)
- EA +0.8% (initiated with a Buy at Nomura)
- CGC +0.7% (initiated with Buy at Stifel)