>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance
:

  • AZO +2.9%, UAL +0.8% (reaffirms Q2 adjusted pre-tax margin of 11-13%, continues to see FY19 adjusted diluted EPS of $10-12 vs $11.24 S&P Capital IQ Consensus Estimate)

M&A news:

  • CIR +51.5% (Crane Co. (CR) confirms proposal to acquire CIRCOR for $45/share in cash)

Select tech related names showing strength after Department of Commerce issued a 90-day license for some companies to work with Huawei:

  • QCOM +2.6%, LITE +2.4%, MU +2%, NVDA +1.5%, AMD +1.3%, GOOG +0.6%

Other news:

  • SESN +16% (completes Type C CMC meeting, reaches agreement with the FDA on Analytical Comparability Plan)
  • ARWR +7.2% (to join S&P SmallCap 600)
  • VNE +6.2% (launches concurrent offerings of $350 mln of common stock and $150 mln of convertible senior notes due 2024)
  • CLVS +6.1% (highlights Phase 3 ARIEL3 Rubraca data)
  • ASNA +2.6% (to commence a wind down of Dressbarn's operations)
  • MRVL +1.9% (ticking higher; to acquire Avera Semiconductor)
  • USAT +1.7% (receives additional Nasdaq deficiency and extends contract of Interim CFO)
  • QEP +1.4% (spikes on reports of M&A interest)

Analyst comments:

  • TRIP +2.1% (upgraded to Neutral from Sell at Guggenheim)
  • KR +1.5% (upgraded to Outperform from Mkt Perform at Bernstein)
  • PII +0.8% (upgraded to Outperform from Market Perform at BMO Capital Markets)