Gapping up
In reaction to strong earnings/guidance:
In reaction to strong earnings/guidance:
- PANW +13.4%, CIEN +9.2%, BOX +4.8%, GHM +4.6%, DG +4.2%, MBLY +0.9%, DCI +0.7%
M&A news:
- PF +6% (Reuters sources suggest Conagra interested in Pinnacle Foods takeover), CAG+1.2%
- DE +3.1% (to acquire the Wirtgen Group for $5.2 bln; co expects the transaction to be accretive to EPS)
Macau Gaming related stocks trading higher the Macau Gaming Inspection and Coordination Bureau reported April gross gaming revenue +23.7% YoY:
- MLCO +3%, MGM +2.1%, WYNN +1.2%
Other news:
- NIHD +17.9% (after seeing notable decline in late trade; Aurelius Capital confirmed active stake lowered)
- NERV +15.8% (to amend its co-development and license agreement with Janssen related to MIN-202)
- MNKD +15.1% (Mannkind and Biomm enter into distribution agreement for Afrezza in Brazil)
- NADL +7.6% (North Atlantic Drilling and Seadrill entered into a Framework Agreement with Rosneft Oil)
- DBVT +3.7% (continued strength)
- MPC +1.8% (announces incremental $3 bln share repurchase authorization)
- QGEN +1.3% (may be in advance of ASCO presentation starting tomorrow)
- RIG +1.1% (Transocean trading higher after completing the sale of its jackup fleet to Borr Drilling for ~$1.35 billion)
- XON +1.1% (Head of Environment Sector scheduled to attend forum to discuss importance of vector control and economic impact of vector-borne diseases)
Analyst comments:
- GT +6.1% (upgraded to Overweight from Underweight at Morgan Stanley)
- SKX +3.8% (upgraded to Buy from Neutral at Citigroup)
- ITW +2.3% (upgraded to Buy from Sell at Goldman)