TheChek News Flow

Gapping down
In reaction to earnings/guidance:

• EVA -44.7%, SYNA -19.5% (also authorizes new $500 mln share repurchase program), OPCH -19.2% (also to acquire AMED), UPWK -18.3%, HOUS -17.7%, PRVA -17%, PARA -14.8%, RVLV -10%, FARO -8.4% (also CEO to retire), TNDM -8.3%, ECVT -7.8%, QCOM -7.7%, ARDX -7.5%, SITM -7.2%, ALKT -7.1%, TRIP -6.4%, LESL -5.3%, RGR -5%, CORT -5%, NVCR -5%, NVST -4.9%, QNST -4.9%, AMWL -4.7%, NVO -4.4%, REGN -4%, IRWD -3.9%, AGIO -3.8%, WD -3.7%, PENN -3.7%, FNF -3.6%, ULCC -3.5%, WCC -3.5%, ACEL -3.3%, ICE -3.2%, MAC -3%, CCOI -2.7%, PZZA -2.7%, CDAY -2.6%, GEL -2.6%, ATUS -2.5%, GNK -2.3%, DEN -2.3%, MLM -2.3%, KRO -2.2%, IBP -2.2%, MTG -2%, FORM -2%, WERN -2%, ARHS -2%, JLL -2%, REZI -1.9%, BWA -1.9%, RCM -1.9%, ECPG -1.8%, ARGX -1.8%, CARS -1.8%, GIL -1.7%, OUT -1.7%, IMXI -1.7%, OGN -1.6%, RUN -1.5%, MOS -1.5%, ATO -1.5%, MT -1.5%, INFA -1.4%, INFA -1.4%, BHC -1.4%, MGY -1.3%, BDX -1.3%, STAA -1.2%, MET -1.2% (also authorizes new $3 bln share repurchase program), EVH -1.2%, SWK -1.2%, CG -1.2%, STWD -1.2%, BCE -1.2%, HII -1.2%, ANSS -1.1%, SRE -1.1%, TXG -1%, ZTS -1%

Other news:

• FHN -41.5% (Toronto-Dominion Bank and First Horizon (FHN) agree to terminate their previously announced merger; TD to make a $200 mln payment to FHN)
• PACW -37.2% (issues updated financial information; mulling strategic options including sale according to Bloomberg)
• OPCH -19.2% (OPCH to acquire AMED in all-stock deal) ZYXI -19% ($50 mln convertible note offering; also CEO commences 2 mln share offering)
• RPHM -15.9% (prices offering of 6.875 mln shares of common stock at $8.00 per share)
• WAL -14.8% (issues updated financial information)
• MCB -14% (in sympathy with PACW news)
• RYI -3.8% (prices offering of 2630700 shares of common stock)
• VCYT -3.1% (announces data published in journal)
• SCHW -1.5% (in sympathy with PACW news)
• AAPL -1.5% (in sympathy with QCOM earnings)

Analyst comments:

• FULC -4.1% (downgraded to Neutral from Buy at Goldman)
• SPR -2.1% (downgraded to Market Perform from Outperform at TD Cowen)
• INCY -1.5% (downgraded to Neutral from Buy at BofA Securities)
• WING -0.9% (downgraded to Neutral from Buy at Citigroup)

Gapping up
In reaction to earnings/guidance:

• SHOP +17.2%, FROG +12.9%, SEDG +11%, LMND +10.7%, W +10.3%, PCOR +9.8%, LNTH +9.1%, SHAK +7.9%, UDMY +7.7%, QRVO +7.4%, RSI +6.6%, HUBS +6.5%, INFN +5.9%, BALL +5.8%, CPE +5.6% (also to acquire Core Delaware Basin assets and Exit Eagle Ford), DDOG +5.5%, CFLT +5.2%, PGRE +5%, BPMC +4.8%, HST +4.5%, CTSH +4.4% (also increases dividend), EQNR +4.3%, ZG +4.2%, TIXT +4.2%, OCSL +3.9%, MELI +3.8%, RACE +3.8%, NE +3.4%, CSGS +3.4%, APG +3.4%, OPK +3.3%, AMED +3.3% (also to be acquired by OPCH), NFE +3.3%, OLED +3.2% (also acquires Phosphorescent OLED Emitter IP assets of Merck), AUPH +3.2%, BRKR +3.2%, CODI +3%, QGEN +3%, VNT +3%, OWL +2.9%, KLIC +2.8%, PH +2.7%, VMEO +2.5%, CTVA +2.2%, NGVT +2.2%, NSTG +2.2%, NSTG +2.2%, DINO +2.1%, COMM +2.1%, DFH +2.1%, PLMR +2%, RGNX +2%, SRI +2%, SUM +2%, AEIS +2%, WRK +2%, CWEN +2%, PLTK +1.8%, RGLD +1.7%, RGLD +1.7%, HCC +1.6%, SHEL +1.6%, GOLF +1.6%, ACLS +1.5%, FOUR +1.4%, FATE +1.3%, ALL +1.3%, AG +1.3%, FUN +1.2%, MKSI +1.1%, AVT +1.1%, BUD +1.1%, TFX +1.1%, APA +1%, FLT +1%, SBH +1%

Other news:

• ARNC +28.2% (to be acquired by funds managed by Apollo Global Management (APO) at $30/share)
• OPTN +5.1% (FDA accepted for review its supplemental new drug application requesting approval of XHANCE as a treatment for chronic rhinosinusitis)
• AMED +3.3% (OPCH to acquire AMED in all-stock deal)
• BTBT +2.4% (reports April production)
• GFI +2.4% (Q1 operations) IMGN +2.2% ($200 mln stock offering)
• TD +2.1% (Toronto-Dominion Bank and First Horizon (FHN) agree to terminate their previously announced merger; TD to make a $200 mln payment to FHN)
• LEV +1.8% (launches the Lion5 medium-duty all-electric truck)
• NOVA +1.7% (teaming up with Amica Insurance to expand services)
• PAC +1.4% (reports April traffic)
• TTMI +1.4% (authorizes new $100 mln share repurchase program)

Analyst comments:

• WEAV +3.3% (upgraded to Outperform from Mkt Perform at Raymond James)
• CX +1.7% (upgraded to Buy from Neutral at Goldman)
• VRSK +1.6% (upgraded to Buy from Underperform at BofA Securities)
• NBIX +1.1% (upgraded to Buy from Neutral at Guggenheim)

Early premarket gappers

• Gapping up:
  • LMND +11.8%, SEDG +11.3%, FROG +10.2%, UDMY +7.7%, PCOR +7%, CPE +6.9%, RSI +6.6%, QRVO +6.3%, OCSL +6.2%, AUPH +6.1%, CFLT +6%, INFN +5.9%, AVT +5.5%, HUBS +5.3%, OPK +5.2%, BALL +5.2%, PGRE +5%, EQNR +4.6%, HST +4.5%, NFE +4.4%, CTSH +4.3%, ZG +4.2%, GFI +3.9%, HCC +3.8%, MELI +3.4%, CSGS +3.4%, OLED +3.2%, AMED +3%, CODI +3%, IMGN +2.9%, VMEO +2.8%, ETSY +2.7%, DINO +2.6%, BTBT +2.4%, IR +2.4%, LEV +2.3%, CTVA +2.2%, NGVT +2.2%, NSTG +2.2%, QGEN +2.1%, PLMR +2%, RGNX +2%, SRI +2%, SUM +2%, AEIS +2%, GL +1.9%, SHEL +1.9%, NE +1.8%, MKSI +1.8%, RGLD +1.7%, TD +1.6%, GOLF +1.6%, QNST +1.5%, PAC +1.4%, FATE +1.3%, ALL +1.3%, KLIC +1.2%, FUN +1.2%, APA +1%, FLT +1%
• Gapping down:
  • FHN -40.3%, PACW -39.1%, ZYXI -22.8%, MCB -19.4%, WAL -18.8%, HOUS -18.4%, UPWK -18.1%, SYNA -17.2%, OPCH -16.7%, RPHM -15.8%, RVLV -12.6%, TNDM -11.7%, FARO -8.4%, ECVT -7.8%, ALKT -7.1%, ARDX -6.8%, QCOM -6.8%, EVA -6.3%, TRIP -5.7%, LESL -5.3%, NVO -5.1%, RGR -5%, CORT -5%, NVST -4.9%, OUT -4.8%, AMWL -4.7%, SITM -4.2%, FNF -4.1%, ACEL -3.3%, ARGX -3.2%, VCYT -3.1%, STAA -3%, RYI -2.9%, ANSS -2.9%, ATUS -2.9%, CDAY -2.6%, GEL -2.6%, DEN -2.3%, SCHW -2.2%, KRO -2.2%, ECPG -2%, MTG -2%, FORM -2%, WERN -2%, REZI -1.9%, GIL -1.7%, IMXI -1.7%, MT -1.6%, ATO -1.5%, INFA -1.4%, MGY -1.3%, MET -1.1%, ALB -1%, TXG -1%