Gapping up
In reaction to strong earnings/guidance:
- AEHR +16.5%, (also reaffirmed guidance and received follow-on orders totaling $2.7 mln from a subcontractor of initial lead FOX-XP Test and Burn-in System customer), ATEN+13.5%, SGH +11.6%, TSN +6.6%, KBH +2.7%, CAMP +1.8%
M&A news:
- VRX +1.5% (completes sale of iNova Pharma for $930 mln)
Other news:
- ZGNX +152.9% (reports positive top-line results from its first Phase 3 trial for its investigational drug, ZX008 for the treatment of Dravet syndrome; trial met its primary endpoint)
- APVO +9.3% (extends cash runway $20 million - retains term loan agreement with MidCap Financial; completes sale of hyperimmune products for up to $74.5 mln )
- PLAB +4.9% (to join S&P SmallCap 600 effective October 6 prior to the open)
- PARR +4% (to join S&P SmallCap 600 effective October 6 prior to the open)
- SMTS +2.5% (raises mineral resource estimate for Yauricocha Mine)
- PPC +2.1% (following TSN guidance)
- BLUE +2% (announces first patient treated with second anti-BCMA CAR T bb21217 in CRB-402 Phase 1 study; to receive $15 million option exercise payment from Celgene), PTCT+2% (continued strength following yesterday's rebound)
- HRL +1.1% (following TSN guidance)
- KKR +1.1% (Softbabnk (SFTBY) is considering financial acquisitions including taking a stake in KKR (KKR) to create $300 bln asset management unit)
- PHM +0.9% (following KBH results)
- SRPT +0.5% (following late move higher on PTCT FDA news)
Analyst comments:
- CONN +6.4% (upgraded to Outperform from Perform at Oppenheimer)
- ZYNE +4.9% (upgraded to Overweight from Neutral at Piper Jaffray)
- ENTG +2.1% (initiated with a Buy at Loop Capital)
- GG +1.7% (upgraded to Buy at Canaccord Genuity)
- TRN +1.4% (upgraded to Buy from Neutral at Citigroup)
- V +0.9% (initiated with a Overweight at Cantor Fitzgerald)