Gapping up
In reaction to strong earnings/guidance:
- PMC +15.4%, ILMN +11%, GSS +10.6%, OMI +9%, FEYE +7.6%, GRMN +7.5%, CORT +7.1%, ARC +6.6%, AMRN +6.4%, CRTO +6.4%, GNW +6.2%, (merger agreement deadline with China Oceanwide extended to November 30, 2017 ), PZZA +5.9%, (also authorizes $500 mln increase to its share repurchase program), VVV +5.6%, AAPL +5.5%, VNOM +5.4%, ONCE +5.1%, FMI +5%, BOOT +4.9%, TMHC +4.9%, HBI +4.6%, SPAR +4.5%, SCMP +4.2%, LOPE +4.1%, DXCM +4%, LNTH +4%, TX +3.7%, FMC +3.4%, DVN +3.1%, FANG +3.1%, NI +2.9%, ARI +2.7%, SODA +2.7%, MDLZ +2.6%, NVMI +2.6%, EYES +2.5%, ALL +2.3%, DNOW +2.3%, ZAGG +1.7%, TEX +1.6%, NJR +1.5%, HBP +1.4%, CG +1.4%, TWX +1.3%, TWX +1.3%, OZM +1.3%, BG +1.1%, CYH +1%
M&A news:
- OGXI +22.6% (Achieve Life Sciences closed previously announced merger with OncoGenex; to commence trading on NASDAQ Capital Market on August 3 under ticker symbol ACHV)
- PMC +15.6% agrees to be acquired by a newly formed company controlled by KKR, w/ Walgreens (WBA), for $29.25/share)
- TECK +1.1% (reports BC Hydro exercised right of first offer to purchase Teck's 2/3 interest in Waneta Dam in British Columbia for $1.2 bln)
Select AAPL related names/tech stocks showing strength:
- CRUS +3.8%, AVGO +2.7%, QRVO +2.7%, SWKS +2.6%, AMD +1.6%, MU +1.5%, ADI +0.7%, NVDA +0.7%, .
Other news:
- CLDX +4.1% (continued strength), OCUL +2% (approves strategic restructuring to eliminate a portion of the Company's workforce as part of an initiative to enhance operations and reduce expenses; appoints Antony Mattessich CEO, effective immediately), DISCA +0.5% (CFO disclosed purchase of 20000 shares worth more than $460K ), .
Analyst comments:
- SQNS +1.3% (re-initiated after the close with Outperform at Robert W. Baird; tgt $5)
- OZRK +1% (initiated with a Overweight at Morgan Stanley)