TheChek News Flow

Gapping down
In reaction to earnings/guidance:

• EMKR -7.2%, CRM -6.5% (also promotes Bret Taylor to co-CEO), BIRD -5.6%, HPE -1%

Other news:

• CLNN -22.5% (Presents Updated Data from RESCUE-ALS Phase 2 Study)
• LGVN -17.5% (enters into securities purchase agreement with certain institutional investors to purchase ~$20.5 mlnworth of its common stock and warrants in a private placement)
• BTAI -15% ( BXCL501 PDUFA date extended by three months to April 5, 2022)
• CTIC -14.7% (FDA extends review period for pacritinib NDA)
• AGIL -9% (stock offering)
• VXX -7.2% (falling in pre-mkt with strength in futures)
• LAC -5.5% (convertible notes offering)
• MEIP -3% (stock offering)
• IMGN -1.5% (stock offering)

Analyst comments:

• DNUT -2.5% (downgraded to Sell from Neutral at Goldman)

Gapping up
In reaction to earnings/guidance:

• AMBA +16.6%, BOX +9.8%, GIII +8.3%, ZS +6.9%, PDCO +3.6%, GFS +2.5%, NTAP +2.4%, AIP +1.5%, DOOO +1.2%, RY +1%

Select index ETFs showing strength:

• IWM +2.2%, SPY +1.4%, QQQ +1.4%, DIA +1%

Other news:

• VBIV +15.1% (FDA approval for PreHevbrio)
• BBW +6.6% (declares special dividend of $1.25/sh; authorizes $25 mln share repurchase program)
• GAN +6.5% (approves $5 mln share repurchase authorization)
• VRTX +5.9% (positive results from Phase 2 study of VX-147)
• LI +5.2% (Nov deliveries)
• BHG +5.1% (expects NeueHealth unbit to generate $2 bln in revs in 2022 with meaningful contribution from external payor relationships)
• CNK +4.3% (strong advance sales for Spider-man: No Way Home)
• NTES +4% (provides Cloud Village spin-off and listing update)
• CVE +3.5% (to sell Husky retail fuels network and Wembley assets for nearly $660 mln)
• KXIN +3.5% (provides strategic plan for new energy vehicles)
• XPEV +3.4% (Nov deliveries)
• NIO +3.4% (Nov deliveries)
• AMC +2.8% (strong advance sales for Spider-man: No Way Home)
• SAGE +2.8% (Sage Therapeutics and Biogen Announce Positive, One-Year Zuranolone 50 mg Data in the Ongoing Open-Label SHORELINE Study in Patients with MDD)
• ASX +2.2% (announces the proposed sale and disposal of equity interests in its subsidiaries, GAPT Holding and ASE (Kun Shan) to Wise Road Capital for a cash consideration of $1.46 bln)
• MRK +2.1% (FDA advisory panel narrowly endorses oral pill, according to CNBC; FDA accepts for priority review the supplemental biologics license application for Merck's Vaxneuvance or use in infants and children)
• BITF +2% (Mined over 3,000 Bitcoin in 2021 through November)
• XOM +2% (announces corporate plans to 2027 - supports approximately doubling earnings and cash flow potential)
• VTRS +1.9% (wins Federal Circuit Court appeal upholding District Court decision invalidating Biogen's (BIIB) Tecfidera patent)
• FTFT +1.9% (signed a Strategic Cooperative Letter of Intent with Faya Digital Technology Co., Ltd. to establish a metaverse research and operations platform)
• MA +1.6% (authorizes $8 bln share repurchase program and increases dividend)
• SABS +1.6% (SAB-176 met its primary endpoint in phase 2a challenge study in adults infected with influenza virus)
• RTX +1.5% (awarded $450 mln Navy contract)

Analyst comments:

• ARDX +23.7% (upgraded to Buy from Neutral at Ladenburg Thalmann; tgt $6)
• DASH +3.2% (upgraded to Buy from Hold at Gordon Haskett)
• COF +2.8% (upgraded to Neutral from Underperform at Robert W. Baird)
• AEL +1.1% (upgraded to Outperform from Mkt Perform at Keefe Bruyette)

Early premarket gappers

• Gapping up:
  • AMBA +16.8%, BOX +9.6%, GAN +8.6%, ZS +6.7%, LI +5.9%, DOOO +5.7%, SAGE +5.4%, NTES +4.4%, XPEV +4.3%, NIO +4.2%, MRK +3.8%, AIP +3.7%, CNK +3.1%, AMC +3.1%, BBW +2.5%, MA +2.1%, IWM +2.1%, RTX +1.7%, NTAP +1.7%, CVE +1.6%, QQQ +1.4%, IMGN +1.3%, SPY +1.3%, TTCF +1.2%, SRG +1.1%, RY +1%, T +0.9%, DIA +0.8%, MKC +0.7%
• Gapping down:
  • LGVN -20.6%, CTIC -16.9%, AGIL -9%, VXX -7.3%, EMKR -7.2%, CRM -6%, BIRD -3.4%, KRYS -3.2%, LAC -3.1%, GFS -1.6%, HPE -1%, MEIP -0.9%