Gapping up
In reaction to strong earnings/guidance:
- HLT +2%
M&A news:
- AVXS +82% (to be acquired by Novartis (NVS) for $218/share in cash, or approximately $8.7 bln)
Select AVXS peers/related names showing strength:
- RGNX +24.4%, TRPX +16.3%, BOLD +12.1%, PTLA +6.8%, BLUE +5.7%, .
Other news:
- VSTM +17.2% (announces that the FDA accepted for filing with Priority Review its New Drug Application for its lead product candidate duvelisib)
- PCRX +7.5% (confirms FDA approval of sNDA for EXPAREL)
- LUK +4.4% (announces series of corporate developments)
- DB +3.2% (Christian Sewing appointed as new Chief Executive Officer of Deutsche Bank)
- IONS +3.2% (has licensed IONIS-AZ6-2.5-LRx to AstraZeneca (AZN) following advancement of the drug into development)
- BPT +3% (increases Q1 dividend payment to $1.2748362/unit from $1.2301519/unit)
- SLM +2.9% (ValueAct Capital (Bradley E. Singer) discloses 6.4% active stake; have had and anticipate having further discussions)
- MRK +2.7% (monotherapy met primary endpoint in phase 3 keynote-042 study)
- CDE +2.7% (announced Q1 production of 3.2 million ounces of silver and 85,383 ounces of gold)
- BA +1.9% (Boeing American Airlines (AAL) sign major order for 47 787 Dreamliners)
- KMI +0.9% (announced that it is suspending all non-essential activities and related spending on the Trans Mountain Expansion Project)
Analyst comments:
- BIDU +1.6% (upgraded to Buy from Outperform at Daiwa)
- GM +2.7% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- CMA +2.2% (upgraded to Outperform from Neutral at Wedbush)
- A +1.3% (upgraded to Buy from Neutral at Goldman)
- MMP +1.3% (upgraded to Outperform at RBC Capital Mkts)
- ARGX +1.1% (initiated with a Buy at SunTrust)
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