TheChek News Flow

Gapping down
In reaction to earnings/guidance:

• MILE -21.4%, RETA -17.7%, SDC -16.6%, FLGT -13.9%, FLGT -12.5% (announces acquisition of CSI Laboratories; announces strategic partnership with Helio Health) VUZI -12.1%, SQSP -9%, CSPR -6.2%, REAL -6%, SAIL -5.1%, FGEN -4.9%, INO -4.8%, PLNT -3.2%, CP -3%, BCRX -2.8% (announces that it is offering to sell $200 mln of its common stock and, in lieu of common stock, to offer and sell to certain investors pre-funded warrants to purchase shares of its common stock in an underwritten public offering) CF -1.8%, TALK -1.7%, HBM -1.4%, MESA -1.3%, NHI -1.3%, RGNX -1%

Other news:

• ATER -8.4% (files for 2,722,075 share common stock offering by selling shareholders)
• AVLR -4.6% (announces offering of $850 mln aggregate principal amount of convertible senior notes due 2026)
• SIVB -4.1% (priced its underwritten public offering of 2,227,000 shares of its common stock at $564.00/share )
• FRC -3.7% (announces public offering of 2.0 mln common shares)
• BRSP -3.4% (announces that a selling stockholder affiliated with DigitalBridge Group has commenced a secondary offering of 8,250,000 shares of BrightSpire Capital's Class A common stock), KNBE -3.3% (launches follow-on public offering of 8,719,740 Class A common shares by selling stockholders )
• CP -2.7% (planning to make increased acquisition bid for Kansas City Southern (KSU), according to WSJ)
• IAS -2.6% (acquired Publica, the connected TV (CTV) advertising platform, in a cash and stock transaction valued at $220 million)
• WPC -2.5% (priced an underwritten public offering of 4.5 mln shares of common stock )
• HCAT -2% (commences public offering of $225.0 mln of its common shares)
• CF -1.8% (and Mitsui & Co. announce a memorandum of understanding that will guide the companies in a joint exploration of the development of blue ammonia projects in the United States)
• THC -1% (announces the next step in its long-term leadership succession plan)
• PCG -1% (briefs financial community on the company's 2021 wildfire mitigation work and future infrastructure plans ),

Analyst comments:

• WTRH -16.4% (downgraded to Neutral from Overweight at Cantor Fitzgerald; tgt $7)
• NLS -9.3% (downgraded to Hold from Buy at Craig Hallum)
• LOTZ -7% (downgraded to Mkt Perform from Outperform at William Blair)
• AXSM -3.9% (downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt lowered to $34)
• BHVN -1.5% (downgraded to Neutral from Buy at UBS; tgt raised to $109),

Gapping up
In reaction to earnings/guidance:

• ARCT +25.4%, LU +13% (adds another $700 mln to share buyback program) DDD +12.9%, ORGO +12%, PRPL +10.3%, HALO +9.8%, AMC +8.6%, COMP +8.6%, MODN +8.4%, VRRM +8.4% (approves $100 mln share repurchase authorization) APPS +5.5%, QLYS +5.4%, EVBG +4.5% (announces integration with The Associated Pres) ELY +4.2%, ATRA +3.7%, NTR +3.6%, STE +3.3%, CCXI +2.7%, PEN +2.4%, CHGG +2.3%, OUST +1.4%, TMST +1.4%, ARMK +1.3%, ETH +1.2%, ATCO +1.1%, IIVI +0.9%

Other news:

• ZEV +46.3% (and Forest River, a Berkshire Hathaway (BRK.A) company, entered into a strategic partnership agreement to deploy up to 7,500 zero-emission shuttle buses )
• IMV +28% (announces final topline results of the DeCidE1 clinical trial in advanced recurrent ovarian cancer)
• KXIN +12.7% (plans to enter the smaller size electric vehicle (EV) market in China )
• ASTR +8.8% (awarded Orbital Services Program (OSP)-4 Indefinite Delivery/Indefinite Quantity contract from the Rocket Systems Launch Program of the Space Force)
• KSU +6.5% (Canadian Pacific (CP) submits superior proposal to combine with Kansas City Southern - stock and cash transaction representing an enterprise value of approximately $31 billion)
• PPTA +5.7% (announces antimony supply agreement with Ambri)
• KLDO +4.1% (appoints Theo Melas-Kyriazi as Chairperson of the Board, effective August 9)
• IFRX +3.4% (announces "positive" data from the first 10 evaluable patients in the ongoing Phase IIa open label study with vilobelimab in Pyoderma Gangraenosum)
• ZIOP +2.6% (Provides Second Quarter 2021 Corporate Updates)
• JAZZ +1.4% (GW Pharmaceuticals receives approval for EPIDYOLEX from the MHRA for the treatment of seizures associated with tuberous sclerosis complex )
• GNSS +1.3% (announced a five-year public safety alert software services contract from the municipality of Longueuil, Montreal's second largest suburb and the fifth largest city in Quebec)
• ERJ +0.9% (has agreed the sale of 16 new E175 jets to SkyWest (SKYW) for operation in the Delta Air Lines (DAL) network )
• UBER +0.8% (priced offering of $1.5 billion principal amount of 4.50% Senior Notes due 20290,  

Analyst comments:

• FSR +15.1% (resumed with an Overweight at Morgan Stanley; tgt $40)
• ARRY +5.6% (upgraded to Buy from Neutral at ROTH Capital; tgt $25)
• SVC +3.3% (upgraded to Buy from Neutral at B. Riley Securities; tgt $15)
• CDEV +3.2% (upgraded to Buy from Neutral at MKM Partners)
• WHF +3.1% (upgraded to Neutral from Underweight at JP Morgan; tgt $15.50)
• SOHU +3% (upgraded to Buy from Hold at Jefferies; tgt $28)
• GAN +2.5% (initiated with a Buy at Jefferies; tgt $21)
• DIN +1.4% (upgraded to Buy from Hold at Deutsche Bank; tgt $93)

Early premarket gappers

• Gapping up: ARCT +30.7%, DDD +14.1%, LU +13.4%, MODN +12%, ORGO +12%, HALO +11.8%, PRPL +11.1%, ASTR +9.3%, QLYS +8.5%, VRRM +8.4%, AMC +7.2%, PPTA +4.8%, APPS +4.7%, EVBG +4.5%, NTR +4.4%, ELY +3.9%, ATRA +3.7%, CHGG +3.6%, STE +3.3%, CCXI +2.7%, ZIOP +2.6%, BBBY +2.5%, KLDO +2.4%, PEN +2.4%, COMP +2.1%, JAZZ +1.4%, OUST +1.4%, ARMK +1.3%, CSPR +1.3%, ETH +1.2%, ATCO +1.1%,
• Gapping down: MILE -20.1%, SDC -15.2%, FLGT -15.1%, FLGT -14.7%, ATER -10.7%, RETA -9.7%, SQSP -8.9%, VUZI -8.3%, REAL -6.1%, SAIL -5.1%, AVLR -4.6%, FGEN -4.3%, SIVB -4.1%, BCRX -3.7%, FRC -3.6%, BRSP -3.4%, KNBE -3.3%, PLNT -3.2%, CP -3%, WPC -2.5%, RGNX -2.3%, INO -2.3%, HCAT -2%, MESA -1.9%, CF -1.8%, CF -1.8%, CP -1.7%, NHI -1.3%, PCG -1.2%, THC -1%,