Gapping up
In reaction to strong earnings/guidance: APIC +11.3%, DTEA +5.5%, SIGM +5.4%, PANW +5.2%, OLLI +2.3%, BOX +0.8%
M&A news: ENVI +114.7% (to be acquired by Ericsson (ERIC) for $4.10/share in cash, or ~$125 mln), CNW +33.3% (to be acquired by XPO Logistics (XPO) for $47.60/share, or ~$3 bln)
Other news: CYTX +23.5% (announced the publication of the results from the 12 month clinical follow up of patients enrolled in the Scleradec-I clinical trial), APRI +16.5% (announces it has licensed the U.S. development and commercialization rights for Vitaros from Allergan (AGN)), MNOV +13.6% (receives Fast Track designation from the FDA for MN-001, to treat patients with idiopathic pulmonary fibrosis), CERE +13.5% (revises upwards, the number of acres planted with its improved forage sorghum hybrids, saying that early performance results this season have been favorable), VVUS +5.2% (cont strength), VNDA +4.4% (announces favorable Markman Ruling in Fanapt patent infringement litigation), PLUG +3.5% (announced Prelodis as its recent European GenDrive customer. Co has fully shipped and commissioned units for Prelodis to use at its new-construction (greenfield) logistics facility located in Saint Cry en Val, France), RDUS +3.1% (named David P. Snow as Chief Commercial Officer), AIZ +2.4% (confirmed sale of its Employee Benefits Business to Sun Life Financial (SLF); raised quarterly dividend to $0.50/share from $0.30/share; authorized new $750 mln share repurchase program), CSTE +1.9% (published a presentation in response to the short report from Spruce Point Capital; says report is a misleading and otherwise factually inaccurate description of Caesarstone) AZN +1.9% (Healthcare/defensive stocks strong in Europe), SUNE +1.2% (cont strength), NVS +1.2% (Healthcare/defensive stocks strong in Europe), LYV +1.1% (named Carrie Davis as Chief Communications Officer), PAH +1.1% (announced that Alent plc shareholders have approved its acquisition of the company; closure expected in late 2015 or early 2016), GPRO +1% (slightly rebounding following recent decline), FEYE +1% (trading in symp with PANW), BMY +1% (announces that the European Commission has approved an updated label for Daklinza for the treatment of genotype 3 chronic hepatitis C), TOT +0.9% (divests interest in Geosel Manosque), GSK +0.8% (Healthcare/defensive stocks strong in Europe)
Analyst comments: TERP +6.1% (initiated with a Buy at Janney), SWI +1.6% (upgraded to Overweight from Equal-Weight at Morgan Stanley), HMHC +1.4% (upgraded to Buy from Neutral at Citigroup), SUNE +1.2% (initiated with a Buy at Janney), SIG +0.7% (initiated with a Outperform at RBC Capital Mkts), LNC +0.7% (upgraded to Buy from Neutral at Goldman ), CBS +0.7% (upgraded to Buy from Hold at Deutsche Bank)