Gapping up
In reaction to strong earnings/guidance:
In reaction to strong earnings/guidance:
- PETS +15.6%, NWL +10%, TSEM +6.5%, JD +5.6%, ON +3.1%,ALDW +3.1%, HL +2.8%, MNK +2.8%, BMCH +1.7%, PAH +1.4%,KITE +0.7%
M&A news:
- KATE +8.4% (agrees to be acquired by Coach (COH) for $18.50/share in cash), COH +2.6%
- TRCO +6.1% (Sinclair Broadcast (SBGI) close to deal to acquire TRCO for $45/share, according to Bloomberg)
- CCP +6% (Sabra Healthcare REIT and Care Capital Properties (CCP) merge in $7.4 bln deal)
- VTTI +4.3% (agrees to increased offer; to be acquired by VTTI B.V.)
Select mining stocks trading higher:
- IAG +2.4%, DRD +2.3%, AUY +1.2%, SBGL +1.1%, ABX +0.9%
Other news:
- DRRX +38.8% (announces a development and commercialization agreement with Novartis (NVS) to develop and market in the United States DURECT's POSIMIR; NVS to make $20 mln upfront payment to Co)
- STRP +27.8% (Board determines that a revised offer from a 'Multi-National Telecommunications Company' for $184/share constitutes a 'superior proposal)
- AXSM +15.4% (receives Fast Track designation from the FDA for AXS-05 for the treatment of agitation in patients with Alzheimer's disease)
- HSGX +7.6% (completes all formal consultations w/ the Japan PMDA regarding the Marketing and Manufacturing Authorization pathway for its NeoCart)
- SVRA +6.1% (announces the recent issuance of a United States Patent for 'Dry Powder Vancomycin Compositions and Associated Methods')
- APTO +4% (presents preclinical data for CG'806)
- SGYP +3.5% (presents Phase 3 data for TRULANCE; achieves primary endpoint)
- ARRY +2.9% (enters into a collaboration agreement with Merck (MRK) to investigate the safety and efficacy of its MEK inhibitor)
- OCUL +1.7% (presents new data from its most recent Phase 3 study evaluating the safety and efficacy of DEXTENZA)
Analyst comments:
- OLN +2.6% (initiated with a Buy at BofA/Merrill)
- CF +1.3% (upgraded to Buy from Neutral at Citigroup)
- TSLA +0.7% (resumed with an Outperform at Evercore ISI)