>>> US Gapping up


Gapping up
In reaction to strong earnings/guidance:

  • N/A.

M&A news:

  • ELF +2.7% (shareholder Marathon Partners to push the company to explore a sale or round of cost cuts, according to the WSJ)
  • FCAU +2.6% (shares ticking higher in pre-market trade following report company is in talks to sell its unit Magneti to KKR for EUR 6 bln)
  • NLSN +2.4% (confirms broad review of strategic alternatives)
  • ATHN +1.7% (edges higher after DealReporter / MergerMarket reporter teased 'ATHN detailed sale update published')

Other news:

  • FOMX +41.7% (announces 'positive' top line results from third Phase 3 trial evaulating FMX101 for the treatment of moderate-to-severe acne)
  • GLPG +15.9% (Gilead Sciences and Galapagos NV announced that filgotnib achieved primary and all key secondary endpoints in Phase 3 Study FINCH 2)
  • PYX +11.5% (releases slide deck ahead of today's Investor and Analyst Day)
  • TLRY +7.8% (continued buzz in pre-market)
  • BHC +7.6% (modestly higher after confirming it has paid down an additional $57 mln of senior secured term loans and $50 mln of revolver borrowings)
  • LPI +6.7% (will replace HealthEquity in the S&P SmallCap 600)
  • RDHL +4.9% (says recently concluded a positive End-of-Phase II/Pre-Phase III meeting with the FDA discussing the clinical and regulatory pathway towards potential U.S. approval of BEKINDA for the treatment of diarrhea-predominant irritable bowel syndrome)
  • GILD +3.1% (Gilead Sciences and Galapagos NV announced that filgotnib achieved primary and all key secondary endpoints in Phase 3 Study FINCH 2)
  • SLCA +2.8% (Pioneer Natural Resources and U.S. Silica announce West Texas sand supply agreement)
  • DBVT +1% (DSMB completes planned safety review of Part A of the EPITOPE trial, recommends that the study continue as planned)
  • PTLA +0.8% (Prior Approval Supplement for the large-scale Generation 2 Andexxa process assigned Dec 31 PDUFA date)
  • TEVA +0.7% (Celltrion announces that the FDA has scheduled the BLA for CT-P10, a proposed monoclonal Antibody biosimilar to Rituxan, for discussion by the Oncologic Drugs Advisory Committee on October 10)
  • SNY +0.7% (Sanofi/Regeneron (REGN) announce that the FDA has accepted a sBLA for Praluent Injection)

Analyst comments:

  • BSTI +2.5% (upgraded to Outperform from Neutral at Macquarie)
  • CVX +1.3% (upgraded to Buy from Hold at HSBC Securities)
  • WP +1.1% (upgraded to Buy from Neutral at Mizuho)
  • TIF +1.1% (upgraded to Outperform from Perform at Oppenheimer)
  • AA +0.5% (upgraded to Buy from Neutral at B. Riley FBR)