Gapping up
In reaction to strong earnings/guidance: NSSC +10.5%, MDXG +2%, MEIP +1.1%, ALR +0.9%
M&A news: CPHD +52.1% (to be acquired by Danaher (DHR) for $53.00/share in cash for ~$4 bln enterprise value), BHP +1.1% ( Woodside (WOPEY) agrees to acquire half of BHP Billiton's Scarborough area assets), MON +0.5% (Bayer (BAYRY) confirms in advanced negotiations with Monsanto concerning proposed transaction)
Select metals/mining stocks trading higher: AUY +4.4%, AG +3.8%, MT +3%, SLW +2.8%, ABX +2.7%, GG +2.5%, NEM+1.9%, GDX +1.8%
Select oil/gas related names showing strength: CHK +1.5%, EPE +0.9%, WLL +0.9%, RDS.A +0.7%, TOT +0.7%, PBR+0.7%
Other news: NAVB +79.5% (enters into letter of intent with Cardinal Health (CAH) for the Sale of Lymphoseek in North America), CLCD +78.8% (announces its Phase 3 pivotal study evaluating lasmiditan, the SAMURAI study, achieved both the primary and key secondary efficacy endpoints), CPHD +52.1% (to be acquired by Danaher (DHR) for $53.00/share in cash for ~$4 bln enterprise value), NAV +30.5% (Navistar and Volkswagen Truck & Bus to pursue strategic technology collaboration and establish procurement JV with Volkswagen Truck & Bus taking a 16.6% ($256 mln) stake in Navistar at a 25% premium), DVAX+16.4% (provides regulatory update on HEPLISAV-B; FDA will review the overall immunogenicity data from HBV-23 ), THLD+9.1% (may be in sympathy with other biotech peers), SE +8.7% (Spectra Energy and Enbridge (ENB) to combine in a stock-for-stock merger transaction which values Spectra Energy common stock at $40.33 per share), ESI +6.7% (will discontinue academic operations at all of its ITT Technical Institutes permanently due to actions of and sanctions from the U.S. Department of Education), SSYS +5.2% (General Electric (GE) said it plans to pay $1.4 bln to acquire 3D printing companies Arcam AB and SLM Solutions Group AG), DDD +4.8% (General Electric (GE) said it plans to pay $1.4 bln to acquire 3D printing companies Arcam AB and SLM Solutions Group AG), SGMO +4.2% (granted orphan designation by the FDA for its Adeno-associated virus serotype 2/6 vectors encoding zinc finger nucleases and human factor 9 gene for the treatment of hemophilia B), SGMO +4.2% ( confirms orphan designation for its Adeno-associated virus serotype 2/6 vectors encoding zinc finger nucleases and human factor 9 gene for the treatment of hemophilia B), VJET +4.1% (General Electric (GE) said it plans to pay $1.4 bln to acquire 3D printing companies Arcam AB and SLM Solutions Group AG), TTM +4.1% (Sensex up 1.5% overnight), TEF +2.7% (announces intent to proceed of IPO of its subsidiary of Telxius Telecom), IBN +2.4% (Sensex up 1.5% overnight), PNNT +1.9% (announced quarterly distribution of $0.28 per share (unchanged from prior)), RADA +1.9% (ecieves follow-on orders, for delivery of ground debriefing stations, totaling $2 mln; deliveries are to be completed by mid-2017), BABA +1.4% (launches Canadian Pavilion on Tmall Global; Air Canada and Alitrip sign deal), HLF +1% (Joint/Group Filing including Carl Icahn disclosed the purchase of nearly 307K shares, worth total of $18.5 mln (transaction date 8/31)), .
Analyst comments: FNSR +4.8% (upgraded to Buy at Stifel), HL +3.6% (initiated with a Buy at Rodman & Renshaw; tgt $9),GT +2.9% (upgraded to Buy from Hold at Deutsche Bank), SAN +1.5% (upgraded to Overweight at Barclays), WPZ +1.4% (initiates an adviser-led process to explore the monetization of its indirect ownership interest in the Geismar, Louisiana olefins plant and complex), GILD +1.3% (upgraded to Buy at Jefferies), FIVE +1.2% (assumed coverage / upgraded to Neutral from Sell at Goldman), INTC +1% (upgraded to Buy at Evercore ISI), CCI +0.9% (upgraded to Outperform at Oppenheimer)