Gapping up
Earnings/guidance:MU +11.8%
Earnings/guidance:MU +11.8%
Other news:
- GSAT +25.2% (trading higher in early trade; hearing reports that the company's revised proposal may be supported by at least three FCC members)
- PBMD +22.5% (Announced interim data from the AIPAC Phase IIb clinical trial for IMP321 in metastatic breast cancer; initial data confirms previous trial results showing IMP321 is safe and well tolerated)
- XOMA +14% (ticking higher, detailed several corporate actions to further streamline its operations; CEO replaced, license agreements signed that have the potential to generate up to $22 mln in revenues, workforce reduced)
- CVRR +12% (higher following report that President-Elect Donald Trump is said to be near naming Carl Icahn as a special advisor on overhauling federal regulations
- ANY +8.3% (Cyrus Capital affirms 28.3% active stake, sends letter to the Board calling on the company to implement a restructuring plan)
- NVS +0.9% (signs a licensing agreement with Sunovion Pharmaceuticals for the US commercial rights to its three treatments for chronic obstructive pulmonary disease; terms not disclosed)
- STM +0.7% (positive read-through from MU earnings)
- AMD +0.7% (positive read-through from MU earnings)
Analyst actions: SCMP +1.2% (upgraded to Buy at Mizuho; tgt $16)