Gapping up
In reaction to strong earnings/guidance:
- MNK +45.3% (also announces agreement in principle for global opioid settlement and associated debt refinancing activities), CDEV +26.6%, LL +23.2%, MMSI +11%, RCII +8.7%, KEYS +7.5%, PROS +7.4%, CMRX +6.9%, SLCA +6.5%, OPRA +5.9%, DNR +5.6%, HPQ +4.8% (also announces strategic and financial value creation plans; increases total share repurchase authorization to $15 bln), ITRI +4.2%, EOLS +3.7%, INTU +3% (also announces plans to acquire Credit Karma for $7.1 bln), RTRX +2.7%, BNS +2.7%, XHR +2.6%, COOP +2.6%, HD +2.5%, LGIH +2.1%, M +2%, SAIL +1.4%, DLX +1.4%, UAL +1.2% (discloses coronavirus impact update; expects Q1 adjusted EPS to remain within previously provided guidance range but withdraws all full-year 2020 guidance), THC +1.1%, TRI +1.1%, JPM +0.6% (guidance at investor day)
Other news:
- NIO +28.6% (enters into collaboration framework agreement with Hefei municipal governemt)
- JMEI +21.5% (enters into agreement for going-private transaction)
- MRNA +16.2% (confirms that it has released the first batch of mRNA-1273, its vaccine against the novel coronavirus)
- ENDP +15% (attributed to block trade)
- BCYC +9.2% (enters into strategic collaboration agreement with Genentech to discover, develop and commercialize novel Bicycle-based immuno-oncology therapies)
- PRGO +8.1% (still looking around; before the open the FDA granted approval of this generic albuterol sulfate inhalation aerosol to Perrigo Pharmaceutical)
- IMV +4.6% (reports new data from Phase 2 Study of DPX-Survivac; treatment well-tolerated with limited side effects observed)
- VNET +2.4% (announces agreements for private placement of $100 mln aggregate principal amount of convertible notes)
- AIG +2.2% (enters into $500 mln accelerated share repurchase agreement)
- LYFT +2% (CFO disclosed the purchase of 22.5K shares worth more than $1 mln)
- XRX +1.8% (following HPQ earnings / strategic and financial value creation plans)
Analyst comments:
- REGN +2.9% (upgraded to Outperform from In-line at Evercore ISI)
- REGN +2.9% (upgraded to Buy from Hold at Jefferies)
- AON +1.4% (upgraded to Overweight from Equal Weight at Wells Fargo)
- APA +0.9% (upgraded to Overweight from Sector Weight at KeyBanc Capital Markets)