Gapping up
In reaction to disappointing earnings/guidance:
- SMRT +55.8%, RUBI +25%, ICON +17.4%, SMTC +12%, CVTI +11.6%, BKS +10.4%, (approved FY19 budget and expects EBITDA of $175 -200 million), ABUS +9.7%, EVC +9.5%, DDD +9.4%, SHLD +8.3%, FNJN +7.8%, DG +7.8%, COGT +6.8%, QTRX +6.6%, TLRD +5.6%, ADT +5.4%, XNET +4.7%, WSM +4.2%, NDLS +4.1%, BTG +3.1%, KLDX +1.4%, SND +1.2%, NEOS +1.1%
M&A news:
- REXX +5.1% (has agreed to sell to XPR certain of its non-operated oil and gas interests in Westmoreland; expects to receive net proceeds at closing of approximately $17.2 million)
Other news:
- PTI +27.4% (confirms the FDA granted Orphan Drug Designation for PTI-428, co's cystic fibrosis transmembrane conductance regulator amplifier drug candidate and reported earnings)
- LITB +18% (established an experimental cryptocurrency mining operation in North America)
- SRRA +10.1% (indicated higher after announcing that late-breaking preclinical results for its Chk1 inhibitor, SRA737, have been accepted for presentation in a poster at the American Association of Cancer Research )
- ALXN +5.6% (announces 'positive' top-line results showing successful Phase 3 clinical study of ALXN1210 in complement inhibitor treatment-naïve patients with paroxysmal nocturnal hemoglobinuria)
- SVU +3.3% (Supervalu plans to exit Farm Fresh Banner - to sell 21 stores and continues discussions to sell additional Farm Fresh stores)
- SRPT +2.1% (following SLDB DMD drug news)
- MGA +1.4% (Magna and Lyft announce a multi-year collaboration in which the companies will jointly fund, develop, and manufacture self-driving systems; Magna will invest $200 mln in Lyft equity)
- LJPC +1.2% (announces $100 mln public offering of common stock)
- SQ +1.2% (following CNBC mention)
Analyst comments:
- AKAM +2.1% (upgraded to Sector Weight from Underweight at KeyBanc Capital Mkts)
- ESIO +2.1% (initiated with Buy and $36 tgt at Stifel)
- IIVI +1.6% (initiated with Buy and $55 tgt at DA Davidson)
- AVGO +0.9% (resumed with a Buy at Deutsche Bank; tgt $325)
- XOM +0.8% (upgraded to Buy from Reduce at HSBC Securities)
- AON +0.8% (upgraded to Buy from Neutral at Goldman)
- WLTW +0.7% (upgraded to Neutral from Sell at Goldman)
- ZBH +0.5% (initiated with a Outperform at Raymond James)
