Gapping up
In reaction to disappointing earnings/guidance:
- ONB +5.5%, PETS +2.8%, SAP +2.4%, HAL +0.8%
Select EU financial related names showing strength:
- PUK +6.4%, DB +2.9%, RBS +2.8%, LYG +2.6%, ING +2.5%, CS +1.7%, BCS +1.2%
Select metals/mining stocks trading higher:
- MT +4.7%, SBGL +2.6%, RIO +2.4%, BBL +2.3%, X +1.7%, AU +1.1%
Other news:
- MDR +26.8% (enters into agreement with certain of its secured lenders under which it will have access to up to $1.7 bln of additional financing, including letter of credit capacity; guidance withdrawn)
- YNDX +9.8% (Russian government eased foreign ownership rules, according to Moscow Times)
- SGEN +8.9% (positive topline results from HER2CLIMB trial)
- TAK +6.4% (presents real-world data for vedolizumab presented that complements the extensive body of clinical evidence)
- FOMX +6.3% (receives FDA approval for AMZEEQ)
- CPE +4.7% (production guidance)
- BHP +2.1% (announced four new renewable power agreements, to meet power demand for its Escondida and Spence copper operations in Chile; new renewable energy contracts will be value accretive even including a provision of approximately $780 mln)
- ALXN +1.6% (receives FDA approval for ULTOMIRIS)
- COP +1.3% (positive Barrons article)
- VRTX +1% (announces reimbursement of cystic fibrosis medicines SYMDEKO in Australia)
Analyst comments:
- RES +5.2% (upgraded to Neutral from Sell at Citigroup )
- PINS +3.2% (upgraded to Outperform from Sector Perform at RBC Capital Mkts)
- PTON +2.9% (initiated with an Overweight at JP Morgan, among others)
- HPE +2.6% (upgraded to Buy from Underperform at BofA/Merrill)
- ZGNX +1.3% (initiated with a Buy at Needham)
- TW +1.2% (upgraded to Buy from Neutral at UBS)
- STT +1% (upgraded to Mkt Perform from Underperform at Keefe Bruyette)
- GWPH +0.8% (initiated with a Buy at Needham)
- AAPL +0.6% (target raised to Street high $280 from $225 at Raymond James)