Gapping up
In reaction to earnings/guidance:
- INSP +13.3%, W +13%, MED +12.7%, ANET +12.7%, HALO +9.2%, CPE +8.5%, WBT +8.1%, AMC +7.9%, CRUS +7.8% (also names new CEO), PAA +7.7% (also announces $500 mln common equity repurchase program), JAZZ +7.3%, KFRC +7.2%, JCOM +6.6%, GWPH +6.3%, CDLX +6%, VNOM +5.3%, BHC +5.3%, WLKP +5.1%, IT +4.8%, AGCO +4.8%, MATX +4.2%, RACE +4%, FANG +3.8%, LPX +3.8%, OPCH +3.6%, JELD +3.4%, MIME +3.2%, MCK +3.2%, ZBRA +3.1%, SIMO +3%, EXC +3%, HSC +2.9%, CDK +1.9%, OMI +1.7%, ETN +1.7%, ONTO +1.6%, TREX +1.6%, EMR +1.6%, WMB +1.5%, HUM +1.5%, ATH +1.4%, CTLT +1.2%, FI +1.1%, WPX +1%, LGIH +0.9%
Other news:
- IEA +14% (announces JV with FH Paschen for the West Lake Corridor rail expansion, valued at over $550 mln)
- PVAC +7.2% (announced a strategic transaction to improve its balance sheet and liquidity position; transaction is expected to close in the first quarter of 2021)
- KPTI +6.9% (announces Phase 3 SEAL study of XPOVIO met primary endpoint; also announces earnings)
- AQST +6.5% (signs royalty monetization agreement with Marathon Asset Management for up to $125 million)
- PAGP +6.1% (PAGP and PAA announce $500 mln common equity repurchase program)
- HGEN +5.9% (announced the execution of its first licensing transaction in the Asia-Pacific Region with Telcon RF Pharmaceutical and KPM Tech for development and commercialization rights to lenzilumab for COVID-19 for South Korea and the Philippines)
- OSUR +5.4% (OraSure's DNA Genotek subsidiary receives FDA Emergency Use Authorization for its ORAcollect·RNA saliva collection device for SARS CoV-2)
- GLPG +4.3% (GILD and GLPG announce EMA validation of marketing application for filgotinib for ulcerative colitis)
- BMY +3.5% (announces deucravacitinib (BMS-986165) demonstrated superiority to placebo and Otezla (apremilast) in Pivotal Phase 3 psoriasis study)
- BIIB +1.9% (positive data from the 24-week SLE portion of the Phase 2 LILAC study (part A) demonstrating that BIIB059 (anti-BDCA2) was associated with a statistically significant reduction in total active joint count)
- HII +1.7% (awarded $280 mln Navy contract)
- TWTR +1.6% (announces conclusions from Mgmt Structure Committee evaluation; to begin authorized share repurchase program)
- NEE +1.4% (to sell interests in portfolio of renewable assets for $1.3 bln in total proceeds, to NEP and KKR)
- BTI +1.3% (acquires Dryft Modern Oral business)
- NGL +1.2% (provides update on bankruptcy proceedings)
Analyst comments:
- PDD +3.9% (upgraded to Buy from Neutral at Goldman)
- DBI +3.7% (upgraded to Neutral from Negative at Susquehanna)
- NGG +2.8% (upgraded/resumed to Overweight from Equal-Weight at Morgan Stanley)
- BBVA +2.7% (upgraded to Hold from Sell at Societe Generale)
- MNST +2.7% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- BP +2.5% (upgraded to Equal-Weight from Underweight at Morgan Stanley)
- CDAY +2.3% (upgraded to Neutral from Underweight at JP Morgan)
- STZ +1.9% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- RDS.A +1.8% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- D +0.9% (upgraded to Outperform from Market Perform at BMO Capital Markets)