Gapping up
In reaction to earnings/guidance:
- CSTM +12.3%, VRNS +10.5%, LRN +9.8% (also reports strong enrollment data), AUDC +8.5%, TNET +7.7%, HOG +6.9%, HSBC +6.8%, SSD +6.7%, TBI +6.4%, TPB +6.3%, EXAS +6% (also will acquire Thrive for cash and stock consideration of up to $2.15 billion), SSTK +6%, FFIV +5.7%, HSTM +5.1%, BYD +4.1%, CMI +3.8%, SHOO +3.7%, MC +3.6%, OMC +3.4%, JBLU +3.4%, NOV +3%, CROX +2.9%, OMF +2.6%, IVZ +2.5%, NXPI +2.3%, GLW +2.2%, ARCC +2.1%, WDR +2%, ACC +1.9%, DTE +1.8%, TRU +1.6%, XRX +1.6%, LH +1.5%, MRK +1.2%, WAT +1.2%, AGNC +1.1%, ABG +1%, SHW +1%
M&A news:
- XLNX +11.9% (AMD to acquire Xilinx in an all-stock transaction valued at $35 bln)
- BGS +6.5% (BGS to acquire SJM's Crisco business for $550 mln in cash)
- IBP +0.9% (acquires Norkote)
Other news:
- AIG +6.4% (to pursue separation of Life & Retirement business; names new CEO)
- CASI +5.6% (to collaborate with BioInvent on anti-Fc?RllB antibody BI-1206)
- PRVL +3.8% (granted FDA Fast Track designation for the company's experimental gene therapy program, PR001, for the treatment of neuronopathic Gaucher disease)
- AGLE +3.4% (Point72 discloses 6.2% passive stake)
- RETA +2.9% (announces publication of results from pivotal moxie trial of Omaveloxolone)
- LVS +2.8% (exploring the sale of its flagship casinos in Las Vegas, according to Bloomberg)
- KALA +2.7% (announces FDA approval of EYSUVIS for short-term treatment of dry eye disease)
- EXEL +2.1% (Exelixis announces Takeda (TAK) and Ono submit supplemental application for CABOMETYX in combination with OPDIVO)
- ABM +1.7% (new CFO)
- NKTR +1.4% (receives FDA clearance for an IND application for its investigational IL-2 pathway agent, bempegaldesleukin (BEMPEG, NKTR-214), to be evaluated in a Phase 1b clinical study in adult patients who have been diagnosed with mild COVID-19 infection)
Analyst comments:
- NCR +5.3% (upgraded to Overweight from Neutral at JP Morgan)
- WIFI +5% (upgraded to Outperform from Perform at Oppenheimer)
- SIRI +2.1% (upgraded to Outperform from Sector Perform at RBC Capital Mkts)
- UPS +1.5% (upgraded to Buy from Neutral at UBS)
- AXP +0.9% (upgraded to Buy from Hold at DZ Bank)
- DRH +0.8% (upgraded to Equal-Weight from Underweight at Morgan Stanley)