Gapping up
In reaction to strong earnings/guidance:
- MLHR +7.9%, DRI +4.7%, UAA +2.7% (sees FY18 $0.16-0.19 vs $0.17 S&P Capital IQ Consensus Estimate; sees adj. operating loss at high end of guidance as it increases restructuring charges, lays off 3% of workdforce), DEO +1.5% (issues trading update; FY19 net sales growth expectations in line with medium-term guidance of mid-single digit growth)
M&A news:
- FOLD +8% (to acquire gene therapy portfolio of ten clinical and pre-clinical stage AAV programs in neurologic lysosomal storage disorders for $100 mln upfront)
- VG +0.7% (to acquire privately-held NewVoiceMedia, a Contact Center-as-a-Service provider, for an equity price of $350 million paid in cash)
Other news:
- TLRY +14.5% (ongoing volatility)
- ADVM +12.8% (receives Fast Track Designation from FDA for ADVM-022 Gene Therapy)
- CRON +7.6% (ongoing volatility)
- GALT +7.4% (announces 'positive' preliminary results from Phase 1b Clinical Trial of GR-MD-02 and KEYTRUDA in advanced melanoma and expansion of the trial)
- LCI +5.2% (MintBroker discloses 5.12% passive stake)
- TXMD +3.7% (announces that Annovera has been granted marketing exclusivity as a new chemical entity from the FDA)
- CGC +3.5% (ongoing volatility)
- RIO +3.3% (unveils details of $3.2 bln new share buy-back program)
- SOGO +1.3% (Sogou and Tencent Holdings (TCEHY) agree to extend until September 2023 the period during which Sogou Search will be the default general search engine for Tencent's products that provide general search offerings)
Analyst comments:
- ARGX +4.3% (added to Best Ideas List at Wedbush)
- TNDM +3.1% (initiated with a Buy at Craig Hallum)
- FBP +2.7% (upgraded to Buy from Neutral at BofA/Merrill)
- RIG +2.6% (upgraded to Outperform from Sector Perform at RBC Capital Mkts)
- AMD +1.8% (tgt raised to $38 from $21 at Stifel)
- CAT +1.5% (upgraded to Outperform from Neutral at Robert W. Baird)
- RL +1.4% (upgraded to Neutral from Underweight at Piper Jaffray)
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