>>> US Gapping down

Gapping down
In reaction to earnings/guidance:

  • BYND -22.3% (saw deterioration of its foodservice business as COVID-19 stay-at-home measures set in), ARNA -17.7%, NBIX -11.7%, RAMP -9.9%, TLRY -7.3%, CYBR -7.1%, REAL -7%, NVAX -4.5% (also names new CFO), IFF -3.9%, SPG -3.6%, ROK -3.4%, AER -3.1%, ZGNX -2.6%, RPAY -2.2%, AMBC -1.9%, ELY -1.7%, VITL -1.3%, IHRT -1%

Other news:

  • ARNA -17.7% (announces primary endpoint not met in top line results from Phase 2b ADVISE trial; also reports earnings)
  • OGI -14.4% (announced underwritten public offering of units whereby a syndicate of underwriters agreed to purchase 32,500,000 Units from the Company at a price of C$1.85 per Unit)
  • TXMD -9.9% (stock offering)
  • RVNC -5.8% (says Phase 2 trial for plantar fasciitis; primary efficacy endpoint not met)
  • FSR -4.8% (stock offerings),
  • NVAX -4.8% (files to delay form 10-Q)
  • FBIO -3.4% (stock offering)
  • SSTI -3.4% (to acquire Leeds)
  • NLS -3.2% (files for $100 mln mixed securities shelf offering)
  • ERIC -3.1% (provides short and long-term objectives at its Capital Markets Day)
  • ACTG -2.8% (stock offerings)
  • AVEO -2% (files for $300 mln mixed securities shelf offering)
  • AMZN -1.7% (EU commission sends statement of objections to Amazon for the use of non-public independent seller data and opens second investigation into its e-commerce business practices)

Analyst comments:

  • CHMI -4.4% (downgraded to Neutral from Overweight at Piper Sandler)
  • FSLR -3% (downgraded to Underperform from Outperform at Raymond James)
  • SLRC -0.8% (downgraded to Equal Weight from Overweight at Wells Fargo)

>>> US Gapping up

Gapping up
In reaction to earnings/guidance:

  • XPER +25.6% (also announces license agreement with Comcast which ends all litigation between the cos), FLGT +15.5%, ZIXI +8.5% (also acquires privately-held CloudAlly), WES +7.8%, ZI +7.1%, CRSR +6.9%, IPAR +6.8%, BNTX +6.8%, SCOR +6.4%, TLND +5.1%, INO +4.1%, RNG +4.1% (also also announces expanded partnership with BT), TCP +3.8%, NCLH +3.4%, APPF +3.2%, BSY +3.1%, NGL +2.9%, ERJ +2.9%, HAIN +2.6%, DHT +1.7%, WPM +1.5% (also increases dividend), NKLA +1.4%, SWAV +1.2%, NOVT +1.2%, DIOD +1.1%

Other news:

  • AFMD +12.6% (announces licensing and strategic collaboration agreement with Roivant Sciences)
  • ALT +12.3% (partners with Lonza to supply of AdCOVID single-dose intranasal vaccine candidate for COVID-19)
  • NK +8.6% (NantKwest and ImmunityBio announce positive interim phase 1 safety data of hAd5 COVID-19 vaccine dose study)
  • VNOM +8.3% (announces $100 mln share buyback plan)
  • CVAC +7.9% (publishes detailed interim phase 1 data of its COVID-19 vaccine candidate, CVnCoV)
  • DBVT +7.8% (provides update on Viaskin Peanut Treatment Delivery at ACAAI 2020)
  • AMGN +4.7% (reports NAVIGATOR Phase 3 Trial met primary endpoint)
  • SFT +4.5% (launches car marketplace in Texas)
  • PTON +4.4% (Peloton and Beyoncé announce a broad, multi-year partnership)
  • DNLI +3.9% (announces first human biomarker proof of concept for its transport vehicle (TV) technology achieved in phase 1/2 study of ETV:IDS (DNL310) in hunter syndrome)
  • BA +3.6% (awarded $660 mln Air Force contract)
  • LLY +3.6% (Eli Lilly neutralizing antibody bamlanivimab (LY-CoV555) receives FDA emergency use authorization for the treatment of recently diagnosed COVID-19)
  • HDS +2.8% (Lowe's issues statement in response to media reports; not in discussions with HD Supply (HDS))
  • LOW +1.6% (issues statement in response to media reports; not in discussions with HD Supply (HDS))

Analyst comments:

  • MCS +8.3% (upgraded to Outperform from Mkt Perform at Barrington Research)
  • SAN +8% (upgraded to Outperform from Mkt Perform at Keefe Bruyette)
  • SPR +5.9% (upgraded to Overweight from Neutral at JP Morgan)
  • DDD +4.9% (upgraded to Mkt Perform from Underperform at William Blair)
  • INO +4.6% (upgraded to Neutral from Sell at ROTH Capital)
  • ICPT +3.3% (upgraded to Outperform from Mkt Perform at Raymond James)
  • LEVI +3.2% (upgraded to Buy from Neutral at BofA Securities)
  • CHEF +2.8% (upgraded to Outperform from Market Perform at BMO Capital Markets)
  • RTX +2.4% (upgraded to Overweight from Neutral at JP Morgan)
  • BIIB +1.6% (upgraded to Buy from Hold at DZ Bank)
  • AINV +1.4% (upgraded to Overweight from Underweight at Wells Fargo)
  • CB +1.4% (upgraded to Buy from Sell at Goldman)
  • MAXN +1.2% (upgraded to Outperform from Mkt Perform at Raymond James)

>>> US Early premarket gappers

Early premarket gappers

  • Gapping up:
    • XPER +25.4%, FLGT +20.4%, ALT +14.9%, VNOM +11.2%, AFMD +11%, SCOR +8.9%, WES +7.6%, IPAR +6.8%, INO +6.2%, TLND +5.1%, SFT +4.5%, AMGN +4.3%, ZI +3.9%, DBVT +3.7%, ZIXI +3.7%, NCLH +3%, NKLA +3%, BA +2.9%, ARRY +2.4%, STAY +2.1%, MRK +1.9%, RNG +1.9%, SWAV +1.8%, ACTG +1.7%, WPM +1.5%, NGL +1.1%, DIOD +1.1%, DHR +1%, SSTI +0.9%
  • Gapping down:
    • BYND -18%, ARNA -17.7%, ARNA -17.7%, RAMP -9.9%, TLRY -9.8%, NBIX -8.8%, REAL -7%, NVAX -5.9%, NVAX -5.9%, RVNC -5.8%, IFF -5.6%, ZGNX -4.8%, FSR -4.5%, TXMD -3.9%, FBIO -3.4%, SPG -3.2%, GSKY -3.2%, AVEO -2.8%, ERIC -2.8%, ELY -2.7%, RPAY -2.2%, ADNT -2.1%, NVDA -2%, MU -1.9%, AMBC -1.9%, ADBE -1.7%, NLS -1.4%, SIEN -1.1%, IHRT -1%

FT : EU hits Amazon with antitrust charges

EU hits Amazon with antitrust charges
Competition commissioner Margrethe Vestager will announce a formal case on Tuesday

Margrethe Vestager, the European commissioner who oversees competition, will announce formal antitrust charges against Amazon on Tuesday over how it uses data about the merchants on its platform, according to two people with knowledge of the announcement.

The case focuses on the online retailer’s dual role, both as a marketplace for third-party vendors and also as a competitor which sells its own goods, these people said. 

The charge sheet, which is part of a probe that started nearly two years ago, fleshes out concerns that Amazon may be abusing its role by using the data it gathers on merchants to compete against them.

Amazon declined to comment. In the past the company has played down antitrust concerns, noting that many retailers have their own private label offerings, and that online sales represent only a small sliver of the overall retail sector.

Independent merchants are free to use some or all of Amazon’s services and can expand their reach and start selling online with limited initial investment, the company has noted.

The European Commission did not immediately reply to a request for comment.

Amazon’s business practices have been under scrutiny elsewhere in the EU and in the US. In 2018 the German antitrust watchdog launched a probe into its dual role as both marketplace for seller and seller of its own brands, looking into whether it used its market power to set illegal contract terms. 

In the US Amazon is part of a group of companies under scrutiny by the House Judiciary Committee. The Justice Department and the Federal Trade Commission have also launched antitrust probes against Amazon.

The formal charges against Amazon will reinforce Ms Vestager’s reputation as a tough enforcer with an emphasis on tackling market rigging, consumer abuse and tax dodging. The Dane, who is serving her second term as competition commissioner, has led big battles against some of the biggest names in tech.

Under her mandate, the EU has fined Google more than €8bn in three separate antitrust cases while Apple has been ordered to pay €13bn in back taxes to the Irish government. Both companies have appealed.

(ZH) Technician Caught Using International Airport's Server Room To Mine Ethereu

Technician Caught Using International Airport's Server Room To Mine Ethereum In Italy

Italian broadcaster Rai News 24 reported that an airport staffer in the city of Lamezia Terme attempted to use the airport's 'free' electricity and workplace computer to mine Ethereum. The unnamed individual was reportedly in charge of the international airport's IT infrastructure but instead turned it into a personal mining farm.
In a bold move which no doubt many have thought about but fewer have tried (taking advantage of public infrastructure to beat the costs of mining, notably that of significant electricity usage), the employee installed mining malware onto his official work system at the airport. The scheme was first uncovered late last month.
CoinGeek reports based on Italian news sources that "The employee was accused of setting up multiple on-premise mining rigs across two different technical rooms to take advantage of the airport’s IT infrastructure and electricity."
Italian media said the 41-year old technician set up a mining farm in one of the server rooms, but was later caught via airport security cameras.

Ironically it appears the employee belonged to or at least was contracting with the very company in charge of overseeing IT security at all airports in the region of Calabria. The company administrating the airport network, Sacal Global Solutions, uncovered the scheme after investigating anomalies in the system and a potential breach.
It's unclear how much Ethereum the 41-year old actually mined, but an investigation is still pending, which includes criminal charges for diverting power resources away from running the airport.
The Rai News report underscored that authorities are treating the breach as a "hack" which ultimately compromised airport security and exposed its systems to potential external infiltration:
This system allowed the airport hacker to procure Ethereum, one of the most well-known cryptocurrencies, without having to bear the costs of the electricity necessary for the 24-hour operation of the equipment, exploiting the connection of Sacal's plants and compromising, according to the accusation, airport IT security.
Lamezia Terme International Airport
The employee was caught in part by being recorded on airport security cameras essentially turning a server room into a mining farm.

While not the first time someone took advantage of public infrastructure and resources in order to reduce the increasingly high fees associated with mining cryptocurrency profitably, it's certainly among the most brazen, given typically high security at airports and the technician's attempt to exploit access from the inside.