Gapping up
In reaction to earnings/guidance:
- PI +39% (also Audit Committee, assisted by independent counsel that the Committee retained to oversee a thorough and careful investigation, concluded that there was no credible evidence supporting the former employee's complaint), TLRD +8.6%, CMA +0.6% (reaffirms guidance)
Other news:
- TLRY +8.6% (receives necessary regulatory permits in Canada and Germany to export medical cannabis flower for distribution to German patients)
- CZR +4.8% (Vora Capital wants CZR to sell assets or the entire company, according to NY Post)
- TUR +3.5% (Turkey raises interest rates 625 bps to 24%)
- NOK +3.4% (to divest its IP Video business to Volaris Group)
- QCOM +3.3% (enters into $16 bln accelerated share repurchase program)
- BRFS +2.5% (after closing near lows on reports of food probe)
- ZLAB +2.4% (Zai Lab will host call to discuss exclusive regional license and collaboration agreement with Novocure (NVCR) for Tumor Treating Fields tomorrow at 8:30 am ET)
- INCY +2.2% (announces 'positive' results from its rPhase 2b study evaluating ruxolitinib cream in patients with atopic dermatitis who are candidates for topical therapy)
- FLR +1.7% (Fluor Federal Petroleum Operations gains DOE Strategic Petroleum Reserve contract extension; will book the $2 bln contract extension value in Q3 2018)
- AMD +1.6% (continued momentum)
Analyst comments:
- OBSV +11.1% (initiated with a Overweight at JP Morgan)
- DVA +5.8% (upgraded to Neutral from Underweight at JP Morgan)
- DRNA +2.4% (initiated with a Buy at Citigroup)
- MEOH +1.9% (upgraded to Outperform from Mkt Perform at Raymond James)
- CTMX +1.6% (initiated with a Buy at H.C. Wainwright)
- CARA +1.4% (initiated with a Buy at Jefferies)
- TRI +1.1% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- STM +1% (defended at Craig Hallum)
- INTC +0.8% (upgraded to Market Perform from Under Perform at Northland Capital)
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