>>> US Gapping up

Gapping up
In reaction to disappointing earnings/guidance/SSS:

  • SDPI +22.4%, CVNA +15.1%, MRAM +14.4%, RUN +9.9%, WMGI +8.4%, BREW +7.7%, GSAT +7.6%, ROKU +7.3%, UPL +7.3%, UPLD +7%, HIMX +6%, PEGI +5.9%, KNDI +5.6%, ECOM +5%, AMCX +5%, SEP +4.9%, TSG +4.6%, DSX +4%, KELYA +3.9%, WRD +3.6%, CHEF +3.6%, GDOT +3.5%, SEDG +3.5%, SIEN +2.9%, BAM +2.9%, ENB +2.8%, CPA +2.7%, LLEX +2.7%, EGC +2.7%, KPTI +2.6%, BTG +2.5%, AKG +2.5%, JNP +2.5%, PTLA +2.4%, ICL +2.4%, AVYA +2.3%, PSTI +2.3%, RNG +2.2%, UFAB +2.1%, CTL +2%, GEN +1.9%, MGA +1.9%, IAC +1.8%, PBH +1.6%, HL +1.3%, TRCO +1.3%, ZTO +1.2%, WP +1.2%, ETP +1.1%, DUK +1.1%, FOXA +0.8%

M&A news:

  • ARMO +67.3% (to be acquired by Eli Lilly (LLY) for $50.00/share, or approximately $1.6 billion, in an all-cash transaction)
  • FSNN +11.4% (to acquire MegaPath for $71.5 mn)
  • CRK +6.4% (enters into definitive agreement with Arkoma Drilling and Williston Drilling to acquire certain oil and gas assets located in North Dakota in exchange for common stock)
  • EVHC +6.2% (Envision Healthcare: KKR (KKR) is said to be putting together an $11 bln plus bid for Envision, according to the NY Post)

Other news:

  • NGD +5.7% (New Gold appoints Interim COO Raymond Threlkeld as the new President and CEO; Threlkeld succeeds Hannes Portmann, who has left the company to pursue other opportunities)
  • AQXP +4.9% (Aquinox Pharma and Astellas announce exclusive licensing agreement for Rosiptor; Aquinox to receive $25 mln in upfront payment)
  • RBS +2.6% (settlement with the US Department of Justice regarding US RMBS investigation)
  • QCOM +2.3% (approves new $10 bln stock repurchase authorization)
  • AGS +1.9% (prices secondary public offering of 4.25 mln shares of common stock by Apollo Gaming at $21.50 per share)
  • XRAY +1.3% (CFO disclosed the purchase of 50K shares worth ~$2.2 mln)
  • RCL +1% (approved the repurchase of $1 billion of the company's common stock over the next two years),

Analyst comments:

  • FSLR +2.5% (upgraded to Overweight from Neutral at JP Morgan)
  • CVRR +1.6% (upgraded to Buy from Neutral at Citigroup)
  • GRPN +1.6% (upgraded to Neutral from Sell at UBS)
  • AIG +1.3% (upgraded to Buy from Neutral at Goldman)
  • MPC +1.2% (upgraded to Buy from Neutral at BofA/Merrill)
  • TTD +0.7% (initiated with Outperform rating and $66 tgt at Oppenheimer)