TheChek News Flow

Gapping down
In reaction to earnings/guidance:

• ZG -17.8% (also to exit Zillow Offers business; to reduce headcount by 25%), RCKY -16.2%, TUP -15.8%, DEI -14.6%, ATVI -12.1%, PLTK -11.9%, FRSH -10.8%, ARGO -9.8%, BCRX -8.9%, EXAS -8.1%, FUN -7.5%, HUM -7.3%, AMRN -7.1%, MRCY -7%, UIS -7% (also COO stepping down; CFO to become COO), PRTS -6.8%, EXEL -6.6%, XPO -6.5%, DCP -6.5%, WING -6.2%, MAC -6.1%, AUPH -5.9%, BFAM -5.4%, FDP -5.3%, CRL -5.1%, APPS -5%, HZNP -4.6%, SPNS -4.5%, LAMR -4.2%, MANT -4%, EXPI -4%, GCP -3.9%, MTCH -3.7%, SEDG -3.6%, CZR -3.3%, EVRI -3.3%, EIX -3.1%, LL -3.1%, LANC -3.1%, COUR -2.9%, WTI -2.7%, IONS -2.6%, PAA -2.4%, CDW -2.2%, INSP -2.1%, PBI -2.1%, AMED -2%, LPSN -2%, NCLH -2%, SBGI -1.8%, RRR -1.7%, WU -1.7%, LPI -1.7%, PAYC -1.6%, NSA -1.6%, PRU -1.2%, AMGN -1.1%, ICHR -1.1%, RDWR -1.1%, AIZ -1%, CVS -1%, BIP -1%

Other news:

• XM -7.2% (stock offering)
• NN -6.7% (stock offering)
• AVCT -5.3% (prices offering of 2.5 mln shares of common stock at $2.00 per share)
• CRK -3.4% (announces partnership with MiQ to certify nat gas production)
• RVI -0.7% (to sell Green Ridge Square)
• MARA -0.6% (announces bitcoin updates for October)

Analyst comments:

• SGMS -2.2% (downgraded to Hold from Buy at Stifel)
• MPC -1% (downgraded to Buy from Conviction Buy at Goldman)

Gapping up
In reaction to earnings/guidance:

• SMCI +16%, LYFT +13.1%, SGRY +12.1%, CRTO +12%, SPT +10.9% (also announces it will be bringing WhatsApp messaging into its product suite), CPRI +10%, CDLX +8.3%, PRG +8.1%, LIVN +7.6%, CWH +7.5%, TVTY +7.2%, ICPT +6%, TCS +5.4%, OSPN +5.3%, FRG +5.3%, SKY +4.9%, SHOO +4.8%, DNOW +4.5%, PACB +4.4%, PKI +3.9%, NYT +3.9%, FNF +3.6% (also increases dividend), VRTX +3.1%, TMUS +3.1%, CVE +2.8%, DVN +2.6% (also authorizes $1 bln share repurchase program; increases fixed-plus-variable dividend), DCPH +2.6%, SITE +2.5%, NVO +2.2%, VECO +2%, CHK +2%, SMG +2%, MDLZ +1.9%, GNW +1.8%, HALO +1.8%, PEAK +1.8%, KAR +1.7%, TSLX +1.7%, EGHT +1.7%, FMC +1.7%, BKH +1.7%, STE +1.4%, OMI +1.4%, AFG +1.3% (also declares $4/sh special dividend), PYR +1.3%, HRB +1.1%, RAMP +1.1%, ETR +1.1%, VIRT +1.1%, WEYS +1%, VSH +1%, UTHR +0.9%

Other news:

• BBBY +55.6% (to redefine business model; launches collaboration with Kroger; expects to complete $1 bln repurchase plan by end of FY21)
• RRD +40.3% (entered into a definitive merger agreement to be acquired by affiliates of Atlas Holdings in an all-cash transaction with a total enterprise value of ~$2.1 bln)
• IRTC +21.3% (Comments on Centers for Medicare and Medicaid Services 2022 Medicare Physician Fee Schedule Final Rule)
• FLGC +10% (announces definitive agreement to acquire Vessel Brand for aggregate consideration of $30 mln)
• MFGP +6.6% (to sell Digital Safe product line to Smarsh)
• AVRO +5.3% (FDA has granted Rare Pediatric Disease Designation to AVR-RD-05)
• DKS +3.3% (Dick's Sporting Goods and NIKE (NKE) have forged a transformative connected partnership designed to enhance the shopping experience for DICK'S and NIKE customers) FXLV +3% (announces commercial partnership with RCL)
• RTPY +2.6% (receives shareholder approval for combination with Aurora)
• BNTX +2.2% (vaccine recommended for kids 5-11 by CDC advisory panel)
• CUBE +1.7% (increases dividend)
• KR +1.3% (launches collaboration with BBBY)
• ABG +1.1% (prices offering of 3.3 mln shares of common stock at $182.00 per share)
• MOTN +1.1% (receives shareholder approval for combination with DocGo)
• ABCL +1% (highlights recent announcement of additional purchase by US govt of bamlanivimab with etesevimab from LLY)

Analyst comments:

• RACE +5% (upgraded to Buy from Hold at Societe Generale)
• TMUS +3.1% (upgraded to Strong Buy from Outperform at Raymond James)
• SHAK +2.7% (upgraded to Buy from Neutral at Northcoast)
• DD +1.6% (upgraded to Outperform from Neutral at Credit Suisse)
• INGR +1.6% (upgraded to Outperform from Neutral at Credit Suisse)
• ABEV +1.3% (upgraded to Neutral from Underperform at BofA Securities)
• WPP +1.3% (upgraded to Mkt Perform from Underperform at Bernstein)

Early premarket gappers

• Gapping up:
  • BBBY +54.3%, RRD +31.2%, IRTC +17.2%, LYFT +15.6%, SGRY +12.2%, SPT +10.1%, SMCI +8.5%, CDLX +8.3%, TVTY +7.2%, TCS +7.1%, CWH +5.8%, DVN +5.6%, OSPN +5.3%, FRG +5.3%, MOTN +5%, SKY +4.9%, TMUS +3.9%, PKI +3.9%, FNF +3.6%, BNTX +3.3%, PACB +3.3%, FXLV +3%, VRTX +2.9%, RAMP +2.9%, SRG +2.9%, DCPH +2.6%, SITE +2.6%, NVO +2.5%, VECO +2%, CHK +2%, MDLZ +1.9%, PEAK +1.8%, KAR +1.7%, TSLX +1.7%, EGHT +1.7%, BKH +1.7%, KVSB +1.6%, FMC +1.6%, AFG +1.3%, HALO +1.3%, HRB +1.1%, ABCL +1%, CUBE +1%, BTG +1%, WEYS +1%
• Gapping down:
  • ZG -16%, DEI -14.6%, RCKY -13.4%, FRSH -13.2%, ATVI -11.8%, ARGO -9.8%, XM -8.6%, EXAS -8.6%, XPO -8.2%, AVCT -7.9%, FUN -7.5%, UIS -7.1%, MRCY -7%, PRTS -6.8%, DCP -6.5%, EXEL -6.5%, EXPI -6%, APPS -5.6%, BFAM -5.4%, FDP -5.3%, SEDG -4.2%, CZR -4.2%, LAMR -4.2%, GCP -3.9%, LSCC -3.3%, HCC -3.3%, EIX -3.1%, AMRN -3.1%, MANT -2.9%, NFE -2.7%, AWK -2.5%, PAA -2.4%, LL -2.4%, RVI -2.1%, INSP -2.1%, AMED -2%, PRU -2%, TRQ -2%, WU -1.8%, NSA -1.6%, MTCH -1.5%, RRR -1.4%, LPI -1.4%, LIVN -1.3%, COUR -1.2%, ICHR -1.2%, RDWR -1.1%, AIZ -1%, NN -0.8%, AKAM -0.8%, ES -0.8%, PI -0.7%