TheChek News Flow

Gapping down
In reaction to earnings/guidance:

• AAP -25.5%, AMBA -18.3%, HPE -8.4%, SPWH -7.8%, FRO -6%, HPQ -5.9%, UHAL -3.2%, CPRI -1.5%

Other news:

• BLTE -37.2% (prices offering of ADSs and warrants)
• ASLE -10.1% (prices secondary offering of 4.0 mln shares of common stock by selling shareholders)
• PEPG -9.7% (clinical hold on IND application of PGN-EDODM1)
• HRZN -8.8% (prices offering of 3.25 mln shares of common stock at $12.50 per share)
• LTRX -8.6% (CEO to step down)
• PUK -4.3% (CFO resigns; appoints Ben Bulmer as CFO)
• EGO -3.8% (announces C$81.5 mln strategic investment by EBRD and concurrent C$135 mln bought deal financing)
• COIN -2.9% (SEC settles with former product manager and his brother on insider trading charges)
• MERC -1.7% (receives court approval to acquire Structurlam Mass Timber assets)
• KODK -1.6% (acquires Graphic Systems Services)
• BMBL -1.2% (president to resign)
• FRPT -1% (responds to JANA Partners' letter)

Analyst comments:

• PDCE -1.7% (downgraded to Neutral from Buy at Seaport Research Partners)

Gapping up
In reaction to earnings/guidance:

• BOX +0.5%

Other news:

• LL +20.5% (F9 Investments prepared to consider an offer of $5.76/sh for LL)
• CCO +3.9% (closes sale of Italy business to JCDecaux SE (JCDXF) for approx. $16.2 mln (EUR15.1 mln))
• TWLO +3.7% (will lose supervoting protection next month; also co has been meeting with activist according to TheInformation)
• CAE +3% (awarded $455 mln subcontract for US Army Flight School)
• ANIK +2.1% (completes enrollment in Hyalofast phase 3 study)
• NAAS +2.1% (announces $21 million of registered direct offering to certain investors)
• IGMS +1.9% (announces FDA clearance to begin clinical studies of imvotamab in lupus and rheumatoid arthritis)
• SMTC +1.2% (names new CEO)
• SNY +1.1% (reports Phase 2 data of novel investigational anti-CD40L antibody frexalimab show significantly reduced disease activity in relapsing multiple sclerosis)

Analyst comments:

• CAR +4.1% (upgraded to Buy from Hold at Deutsche Bank)
• QTWO +2.9% (upgraded to Buy from Neutral at BTIG Research)

All,

 

New rights issue in Sweden. Very small for SEK 450m or €38m.

Note that the company is issuing A and B shares so 2 spreads but the one-pager below is using the most liquid B shares.

Ticker of the A shares is STARA SS and right is STARTRA SS.

Was ex on May 29^th and start trading tomorrow.

 

Early premarket gappers

• Gapping up:
  • LL +21.7%, CCO +5.5%, CPRI +4.4%, TWLO +3.5%, CAE +3.1%, BOX +2.5%, ANIK +2.1%, NAAS +2.1%, MRTX +1.1%, SNY +1.1%, RC +0.9%, GLDD +0.6%, MCRB +0.6%, UCBI +0.6%
• Gapping down:
  • BLTE -37.1%, AAP -24.9%, AMBA -17.7%, PEPG -16.3%, ASLE -9.7%, HRZN -8.1%, HPE -7.9%, SPWH -7.8%, LTRX -7.6%, FRO -5.7%, EGO -5.2%, HPQ -4.8%, PUK -4%, UHAL -3.2%, COIN -2.2%, MERC -1.7%, FRPT -1%, KODK -0.8%, BMBL -0.8%