Gapping up
In reaction to strong earnings/guidance:
- CASA +18.5%, EHTH +17.4%, TEAM +9%, INTC +4.9%, FFIN +3.2%, NXGN +2.5%, AXP +2.5%
M&A news:
- CBB +11.6% (received a non-binding proposal from an infrastructure fund to acquire all of the outstanding shares of common stock of Cincinnati Bell for $12.00/share)
- CYOU +7.7% (Sohu.com enters into a definitive agreement for Changyou.com (CYOU) going-private transaction)
- ERA +4.8% (Era Group and Bristow Group enter in agreement to combine the two companies in an all-stock transaction)
Select semiconductor names trading higher:
- ON +1.8%, WDC +1.4%, SOXX +1.4%, NVDA +1.4%, SMH +1.3%, MU +1.1%, XLNX +0.9%, .
Other news:
- BLCM +13.6% (presents Phase 1 translational results for BPX-601)
- TLYS +6.2% (declared a special cash dividend of $1.00/share)
- AVGO +3.7% (Broadcom subsidiaries entered into two separate multi-year statement of work agreements with Apple)
- ADPT +2.7% (prices 8 mln shares of common stock at $26.50 per share)
- EXEL +0.8% (announces phase 1/2 clinical trial results from the combination of cabozantinib (CABOMETYX) and nivolumab (Opdivo) with or without ipilimumab (Yervoy) in advanced hepatocellular carcinoma)
Analyst comments:
- MTNB +4.6% (initiated with a Buy at SunTrust)
- DECK +1.7% (upgraded to Buy from Neutral at Citigroup)
- DVA +1.6% (upgraded to Buy from Neutral at Goldman)
- GNRC +1.5% (upgraded to Outperform from Perform at Oppenheimer), UN +1.5% (upgraded to Buy from Hold at Jefferies)
- STM +1.4% (upgraded to Neutral from Underperform at Robert W. Baird)
- SQ +0.9% (initiated with a Outperform at Credit Suisse)
- PYPL +0.7% (initiated with a Outperform at Credit Suisse)