>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:
  • HUN +1.9%, (expects 'strong' Q3 results, after excluding the Pigments and Additives division, which will now be reported in discontinued operations)
M&A news:
  • SSNI +24.6% (to be acquired by Itron (ITRI) for $16.25/share)
  • OA +19.8% (confirms deal to be acquired by Northrop Grumman (NOC) in a $9.2 bln deal)
  • RAD +4.2% (Walgreens Boot Alliance said to plan to revise its pending agreement to acquire Rite-Aid (RAD) stores in effort to gain regulatory approval for the proposed deal, according to Bloomberg)
  • UPL +2.3% (largest stockholder Firm Tree Partners announces its intention to immediately engage with Co management to pursue value-maximizing strategic alternatives)
Select China related names showing strength:
  • MOMO +1.1%, WB +1%, JD +0.8%, BIDU +0.7%
Other news:
  • NBRV +101.2% (announces 'positive' results from the lefamulin evaluation against pneumonia trial)
  • PSTI +17.9% (FDA has granted Fast Track Designation to the co's ongoing Phase III study of PLX-PAD cells for the treatment of Critical Limb Ischemia in patients ineligible for revascularization)
  • PTIE +14.4% (receives an approx. $1.8 mln research grant from the NIH and $2.2 mln grant from the National Institute on Drug Abuse)
  • BLDP +5.4% (received a purchase order from Nisshinbo Holdings)
  • SNGX +3.3% (receives from the NCI a two-year, approx. $1.5 mln SBIR grant to support its Phase 3 study evaluating SGX301)
  • NLNK +2.6% (modestly rebounding following last weeks 28% loss)
  • KTOS +2.3% (S&P upgraded Kratos Defense & Security Solutions Inc. to 'B' on expected debt repayment, outlook positive)
  • TRXC +2% (responds to the FDA's Additional Info request related to its Senhance Surgical Robotic System 510(k) submission; continues to expect 510(k) clearance in 2017), TNXP +1.9% (files to withdraw registration statement on Form S-3 filed on Aug 11)
  • MRTX +1.8% (continued strength)
  • RDHL +1.6% (receives a NOA from the USPTO for a new patent covering the use of two of YELIVA and MUSPRON in combination with a known antibiotic)
  • NOK +1.1% (receives decision in patent license arbitration with LG Electronics (LGEAF); expects that revenue for the agreement will be recognized in Q3)
  • LB +0.9% (authorizes $250 mln share repurchase program)
Analyst comments:
  • ARWR +8.5% (upgraded to Outperform from Mkt Perform at William Blair)
  • PAH +3% (upgraded to Buy from Hold at SunTrust)
  • NVDA +2.1% (target raised to $210 from $185 at BofA/Merrill )
  • YUMC +1.7% (upgraded to at )
  • CAT +1.6% (upgraded to Buy from Neutral at UBS)
  • INST +1.6% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
  • AMAT +1.4% (upgraded to Outperform at RBC Capital Mkts)
  • ASML +1.2% (upgraded to Positive from Neutral at Susquehanna)
  • CMPR +1% (upgraded to Outperform from Mkt Perform at Barrington Research)
  • SONC +0.8% (initiated with a Buy at Citigroup)