Gapping up/Gapping down
Gapping up
In reaction to earnings/guidance:
CALM +6.5% (also to pay $1/sh dividend), PLAY +6% (also increases share repurchase authorization by $100 mln), SIG +2% (raises FY25 EPS guidance following preferred shares repurchase transaction and amendment to the preferred shares agreement), LSPD +1% (announces cost reductions, share repurchase program, and reaffirms guidance)
Other news:
LENZ +32.6% (topline results from its Phase 3 CLARITY study of two investigational formulations of aceclidine, LNZ100 and LNZ101)
VNDA +26.3% (receives FDA approval for Fanapt for the acute treatment of bipolar i disorder)
ALVO +9.6% (hosts audio call for investors at 8:15 am EDT on April 3)
SGHT +7.4% (announces results of 3-yr prospective GEMINI trial and the cross-over phase of the SAHARA RCT)
FGEN +6% (topline results from Phase 1 Monotherapy Study of FG-3246)
TVGN +4.7% (to delay 10-K filing)
FEAM +4.6% (commences commercial production at 5E Boron Americas Complex)
OWL +4% (to acquire Kuvare Insurance Services LP (dba Kuvare Asset Management) for $750 mln; transactions are expected to be accretive to Blue Owl in 2024)
WISH +1.8% (announces post-closing board and mgmt team: Rishi Bajaj appointed CEO, Brett Just promoted to CFO)
DINO +1.3% (to repurchase 5 mln shares from selling shareholder at $59.22/sh)
RDNT +1.2% (announces a proposed refinancing of its term loan and revolving credit facility)
SILK +1.1% (announces launch of ENROUTE Transcarotid Neuroprotection System PLUS)
Analyst comments:
UPS +1% (upgraded to Buy from Neutral at Redburn Atlantic)
HOLX +0.7% (upgraded to Buy from Neutral at Citigroup)
Gapping down
News:
INTC -4.3% (outlines new reporting structure to reflect transition to foundry model; expects Intel Foundry operating losses to peak in 2024; provides historical financial metrics for new reporting segments)
MNMD -3.5% (stock offering by selling shareholders)
DJT -2.7% (amended 8-K to correct a scrivener's error contained in the audit opinion of Adeptus Partners; also amends 10-K)
RNA -2.3% (files for 24,255,624 shares of common stock)
ORGO -2.3% (announces favorable court ruling dismissing securities fraud case)
Analyst comments:
WOLF -2.3% (downgraded to Equal Weight from Overweight at Wells Fargo)
ALLY -1.8% (downgraded to Underweight from Neutral at JP Morgan)
DLTR -0.6% (downgraded to Hold from Buy at Gordon Haskett)
LOW -0.6% (downgraded to Hold from Accumulate at Gordon Haskett)