TheChek News Flow

After Hours Summary: LYFT -30% down sharply on earnings is the top headline; DOCS -7.6%, PYPL -3.1% also lower on earnings; NET +10.9%, YELP +10.5%, AYX +9%, BE +8.5% higher on earnings

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: NET +10.9%, BHF +10.7%, YELP +10.5%, AYX +9%, BE +8.5%, CRSR +6.8%, LGF.A +5.5%, REG +4.6%, DXCM +4%, MODG +3.6%, TEX +2.9%, SPSC +2.5%, ROAD +2%, CTRE +2%, VCTR +2% (also increases dividend and reports Jan AUM), VTR +0.5%

Companies trading higher in after hours in reaction to news: INDI +6.4% (to acquire GEO Semiconductor), AB +2.4% (reports Jan AUM), RHI +2.1% (increases dividend; also increases buyback auth by an additional 10 mln shares), HCC +1.4% (increases dividend), FTCI +1.4% (announces new joint venture), APAM +1.1% (reports Jan AUM), AMED +0.8% (authorizes new $100 mln share repurchase program)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance: LYFT -30%, BARK -16.9% (also 12% workforce reduction). DOCS -7.6%, KN -7.3%, YELL -6.3%, FLO -4.1%, PYPL -3.1% (also CEO to retire), RBC -2.2%, MHK -2.1%, NWSA -1.7%, CC -1.4%, EQR -1.4%, PRO -1.2%, EXPE -1%, COUR -0.4%, MTD -0.2%, MSI -0.1%

Companies trading lower in after hours in reaction to news: PHAT -22.5% (receives complete response letters from FDA), ASPS -10.9% (stock offering), TRNO -3.2% (stock offering), AMC -2.4% (provides Forward Purchase Agreement updates), MUSA -1.5% (increases dividend), FBP -1.3% (increases dividend), MU -1.3% (discloses executive pay cuts), UBER -1.2% (in sympathy with weak LYFT earnings), AGRO -1.2% (names new CFO), DASH -1.1% (in sympathy with weak LYFT earnings), AMGN -0.4% (files mixed securities shelf offering; also files to sell common stock by selling securityholders), WT -0.2% (private offering of $130 mln of convertible notes), IVZ -0.1% (reports Jan AUM)

Gapping down
In reaction to earnings/guidance:

• TTGT -29.8%, VWE -25.1% (issues downside Q2 rev guidance; CEO to transition to Exec Chairman; announces reorganization and simplification of ops), APPS -18.1%, AFRM -18% (also announces 19% workforce reduction), MAT -10.5%, STE -9.2%, TTMI -8.5% (also to close three manufacturing facilities), BAX -8.2%, RPD -8%, FROG -7.1%, CS -7%, AZTA -6.2%, TPX -5.8%, IFF -5.7%, IPG -4.6%, MAS -3.9%, LNC -3.8%, EFX -3.5%, TRI -2.9%, BTI -2.7%, THC -2.5%, THC -2.5%, PAA -2.4%, NVST -2.3%, VKTX -2.2%, HI -2%, SON -2%, REXR -1.7%, ASGN -1.1%, EQH -1.1%, PTEN -1%, SEE -1%

Other news:

• PRPL -16.4% (prices offering of 13.4 mln shares of common stock at $4.50 per share)
• GMED -11.6% (NuVasive and Globus Medical (GMED) confirm the two parties will combine in all-stock merger)
• APPH -11.5% (commences $40 mln stock offering)
• GLPG -8.3% (topline results from Phase 3 DIVERSITY trial of filgotinib)
• NSSC -4.8% (prices secondary offering 2.1 mln shares of common stock at $31.50 per share)
• RBT -3.5% (stock offering)

Analyst comments:

• UNVR -1.5% (downgraded to Neutral from Buy at UBS)
• ACCD -0.9% (downgraded to Hold from Buy at Jefferies)

Gapping up
In reaction to earnings/guidance:

• APP +31.5%, SONO +14.9%, ME +9.1%, FORM +8.5%, WMG +8.5%, TPR +7.9%, FLNC +6.8%, MGM +6.4% (also suspends dividend; announces new $2 bln share repurchase program), DIS +6.3% (also announces workforce reduction; to ask Board to reinstate dividend by end of calendar year), AZN +5.7%, WYNN +5.2%, AZEK +5.1%, PYCR +5%, QNST +4.8%, CCJ +4.8%, XPO +4.6%, DHT +4.4%, HOOD +4.4%, TIXT +4.4%, CDAY +4.3%, SLF +4.2%, BRKR +4%, PI +3.9%, MMS +3.2%, ASX +3.1%, HLT +2.9%, HPP +2.8%, CXW +2.5%, CYBR +2.5%, SPGI +2.4%, MPWR +2.2%, ACLS +2.1%, ESE +2%, RE +2%, ITT +2%, ENS +1.9%, ORLY +1.9%, MT +1.8%, PEP +1.8%, WEX +1.8%, APO +1.8%, ESMT +1.8%, ARES +1.7%, TM +1.6%, DUK +1.6%, DBD +1.5%, TWO +1.3%, UL +1.3%, HIMX +1.3%, WTW +1.1%, BWA +1.1%, TU +1.1%, SSTK +0.9%, AB +0.8%, GT +0.8%, PM +0.8%

Other news:

• CSII +47.9% (ABT to acqurie CSII for $20/share)
• NUVA +7% (NuVasive and Globus Medical (GMED) confirm the two parties will combine in all-stock merger)
• CCJ +4.8% (agree on commercial terms to supply Ukraine's full natural UF6)
• MESO +3.8% (FDA grants RMAT designation for rexlemestrocel-L)
• SUMO +2.5% (nearing a $1.7 bln deal to be sold to Francisco Partners according to WSJ)
• SPGI +2.4% (SPGI announces new collaboration agreement with AMZN's AWS)
• POST +2% (POST to acquire select pet food brands from SJM for $1.2 bln in cash and stock)
• CRM +1.9% (Dan Loeb's Third point has stake in CRM according to WSJ)
• MNOV +1.7% (Health Canada grants authorization to commence MN-166 trial in Long COVID)
• ONTF +1.4% (announces new $100 mln capital return program)
• RRC +1.1% (reports proved reserves)

Analyst comments:

• HIMS +6.8% (upgraded to Buy from Hold at Jefferies)

Early premarket gappers

• Gapping up:
  • CSII +47.6%, APP +29.7%, SONO +14.8%, QNST +10.3%, PYCR +9%, FORM +8.5%, ME +7.9%, DHT +6.7%, DIS +6.4%, AZN +6.4%, MGM +6.2%, FLNC +5.9%, WYNN +5.6%, HOOD +5.2%, ACLS +4.4%, MESO +4.1%, AZEK +3.9%, MPWR +3.7%, MMS +3.2%, CDAY +3.2%, PPC +3%, ASX +3%, CXW +2.8%, HPP +2.8%, HLT +2.8%, PI +2.6%, SPGI +2.5%, SUMO +2.4%, XPO +2.4%, POST +2%, ESE +2%, RE +2%, PDM +2%, ENS +1.9%, MT +1.9%, SLF +1.8%, CRM +1.7%, ORLY +1.7%, ARES +1.7%, ONTF +1.4%, PEP +1.4%, PDS +1.2%, RRC +1.1%, NLY +1.1%, HIMX +1.1%, UL +1%, JPM +0.9%, AMZN +0.9%, MMM +0.8%
• Gapping down:
  • VWE -38%, APPS -18.8%, PRPL -16.4%, AFRM -16.2%, RPD -10.9%, APPH -10.6%, GLPG -9.4%, MAT -9.3%, STE -9%, TTMI -8.9%, CS -8.7%, FROG -8.5%, NSSC -6.5%, HI -5.1%, EQH -5%, IFF -4.8%, AZTA -4.7%, BTI -4%, RBT -3.5%, LNC -3.3%, NVST -2.3%, TWO -2.1%, EFX -2%, SON -2%, REXR -1.7%, CCS -1.4%, PAA -1.3%, ASGN -1.1%, GT -1%, VKTX -0.9%