Gapping up
In reaction to strong earnings/guidance:
- SRCI +12.4%, CAR +11.1%, CSTM +11.1%, CYH +10.3%, PEGA +7.7%, TNK +7.5%, ALB +7%, NCLH +5.2%, LOPE +5.1%, JACK +5%, UAN +4.9%, MCRN +4.7%, GDDY +3.4%, NE +3.3%, SAM +3.2%, WPG +3.1%, CDE +3.1%, GHDX +2.9%, NEM +2.9%, CRK +2.7%, TSLX +2.4%, FND +2.4%, PQG +2%, ET +1.8%, DIN +1.7%, NTES +1.5%, TK +1.5%, SNPS +1.4%, QEP +1.3% (also announces review of strategic alternatives), CAKE +1.3%, SEDG +1.2%, WK +1.2%, RBBN +1%, SITC +1%
M&A news:
- IMDZ +315.5% (to be acquired by Merck (MRK) for $5.85 per share in cash for an approximate value of $300 million)
Other news:
- HTZ +7.3% (following CAR results)
- PCG +2.6% (PG&E Board extends deadline for receipt of written notice by a shareholder of any business, including the nomination of any person for election to the Board)
- ONDK +1.7% (after CEO and two Directors disclosed insider buys)
- SRPT +1.7% (to announce results from the first 3-patient cohort of the phase I/IIa gene transfer clinical trial using MYO-101 to treat patients with Limb-Girdle Muscular Dystrophy Type 2E on Wednesday February 27 )
- EGRX +1.5% (discloses that the FDA issued a decision in favor of it regarding the scope of exclusivity for BENDEKA)
- FL +0.8% (increases quarterly dividend to $0.38/share from $0.345/share, approves new $1.2 bln share repurchase, and approves $275 mln capex program for 2019)
Analyst comments:
- BTX +8.7% (BioTime initiated with a Buy at H.C. Wainwright; tgt $4)
- SAM +3.2% (upgraded to Neutral from Underperform at Macquarie)
- APHA +1.7% (initiated with a Buy at Seaport Global Securities)
- X +1.6% (upgraded to Buy from Hold at Berenberg)
- HMY +1.4% (upgraded to Overweight at JP Morgan)