Gapping down
In reaction to earnings/guidance:
- PRGS -10.5%, MU -3.9%, LAD -1% (also announces $700 mln share offering)
Other news:
- APM -34.2% (prices offering of 2,769,231 Class A ordinary shares and warrants to purchase up to 2,769,231 Class A Ordinary Shares at $3.25 per share and related warrant)
- FCEL -14.5% (prices offering of 43.5 mln shares of common stock at $2.10 per share)
- OMI -4.3% (stock offering)
- IMXI -3.3% (stock offering)
- AMP -2.2% ($2.5 bln share repurchase authorization)
- DIS -1.8% (to lay off 28,000 employees amid prolonged park closures, according to CNBC)
- ARQT -1.7% (files for 4 mln share offering; also announces $35 mln private placement)
- NEE -1.5% (to acquire GridLiance)
Analyst comments:
- RUN -3.5% (downgraded to Neutral from Buy at Goldman)
- MAS -2% (downgraded to Neutral from Buy at Goldman)
- PBF -0.8% (downgraded to Equal Weight from Overweight at Wells Fargo)
Gapping up
In reaction to earnings/guidance:
- SNX +4.8%, CMTL +2.8%, PENN +1.4% (also comments on Barstool Sportsbook launch progress), SHW +0.6%
Other news:
- ETON +10.1% (receives FDA Approval of Orphan Drug ALKINDI SPRINKLE)
- CRDF +8.2% (prices offering of 6,500,000 shares of its common stock at $13.50 per share)
- CVAC +8.2% (first participant dosed in a Phase 2a COVID trial)
- SRGA +8% (to acquire Holo Surgical and its ARAI Digital Surgery Platform)
- EGBN +7.6% (reinstates share repurchase program)
- MRNA +3.4% (announces publication in NEJM of interim results from older cohorts in Phase 1 study of COVID-19 vaccine)
- NKLA +2% (GM extends talks after fraud, sexual assault allegations surface, according to CNBC)
- REGN +1.8% (announces REGN-COV2 antibody cocktail reduced viral levels in COVID-19 patients)
- CZR +1.4% (to acquire William Hill for £2.9 bln)
- ALNY +1.4% (announced positive topline results from the ILLUMINATE-B pediatric Phase 3 study of lumasiran for the treatment of primary hyperoxaluria type 1)
- HTHT +1.1% (issues response to additional short seller report)
Analyst comments:
- ACHC +4.5% (upgraded to Strong Buy from Outperform at Raymond James)
- GOOS +2.7% (upgraded to Outperform from Market Perform at Cowen)
- HAS +2.2% (upgraded to Buy from Hold at Stifel)
- PII +2.2% (upgraded to Buy from Neutral at Longbow)
- AZEK +1.8% (upgraded to Buy from Neutral at Goldman)
- SHOP +1.5% (upgraded to Outperform from Neutral at Wedbush)
- SR +1.5% (upgraded to Buy from Hold at Stifel)
- HUN +1.4% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- SBUX +1.4% (upgraded to Outperform from Market Perform at Cowen)
- TWO +1.2% (upgraded to Outperform from Mkt Perform at Raymond James)
Early premarket gappers
- Gapping up:
- SRGA +36.2%, CRDF +8.9%, ETON +8.4%, CVAC +8.1%, CMTL +6.8%, SNX +4.4%, MRNA +3.8%, REGN +3.7%, CZR +1.9%, AVAV +1.8%, SHW +1.3%, HTHT +1.1%, DOW +0.9%, BIIB +0.8%
- Gapping down:
- APM -20.2%, PRGS -11.6%, FCEL -9%, OMI -4.7%, MU -4.3%, CPRX -2.5%, NKLA -2.5%, AMP -2.4%, GLPG -2.2%, IMXI -2.1%, DIS -2%, ARQT -1.7%, LAD -1%, PENN -1%, NEM -0.7%, ORCL -0.5%
China Greenlights Another Covid-19 Vaccine for Human Testing
Chinese drugmaker Shenzhen Kangtai will test its vaccine on people after showing it protected mice and monkeys from coronavirus
A Chinese drugmaker, which is collaborating with AstraZeneca PLC on production of a coronavirus vaccine, has won approval from Chinese regulators to start testing one of its own vaccine candidates at home.
Shenzhen Kangtai Biological Products Co., one of the world’s largest producers of hepatitis B vaccines, said Tuesday in a stock-exchange filing it will begin testing its coronavirus vaccine candidate on people immediately, after it was found to protect mice and monkeys from the new virus.
The company, based in the southern Chinese city of Shenzhen, didn’t say where it would conduct the trials. Because China has largely brought the virus under control at home, its drugmakers have had to venture to other countries where coronavirus is still a problem to run larger scale advanced clinical trials. Their initial trials to test for safety, however, have generally taken place in China.
Shenzhen Kangtai also said it has already built a new facility for producing the vaccine, for which it will seek separate regulatory certification.
Dozens of drugmakers and medical institutions around the world are running human clinical tests on 40 Covid-19 vaccine candidates, according to the World Health Organization, in a global effort to fight a pandemic that has now killed more than one million people.
Chinese institutions are behind many of those experimental vaccines and are responsible for four of the 10 candidates in the final stages of testing.
At the same time, Beijing has overseen an unorthodox campaign to inject members of its military—as well as hundreds of thousands of employees of state-owned enterprises, journalists and other people—with homegrown vaccine candidates before their clinical trials are complete.
In August, the Cambridge, U.K.-based AstraZeneca and Shenzhen Kangtai said they would produce at least 200 million doses of the British drugmaker’s experimental Covid-19 vaccine for the Chinese market by the end of 2021.
Shenzhen Kangtai aims to finish building a facility to produce AstraZeneca’s vaccine by the end of the year, according to Tuesday’s filing.
AstraZeneca’s coronavirus vaccine candidate is based on a relatively new technique known as an adenovirus vector, which acts as a carrier for the portion of the vaccine intended to trigger an immune response against the coronavirus.
The separate Covid-19 vaccine candidate for which Shenzhen Kangtai recently won Chinese regulatory approval is based on a more-established method of producing vaccines. It involves growing viruses in petri dishes and then weakening them for use on humans.
Such so-called inactivated vaccines are similar to three Chinese candidates the government approved for domestic emergency use beginning in July. Chinese drugmakers have made less headway compared with their Western peers in more-advanced methods drawing upon genetics technology.
>>> Up
* A.G. Barr Raised to Equal-Weight at Barclays; PT 430 pence
* Ferguson Raised to Sector Perform at RBC; PT 7,500 pence
* Gestamp Raised to Overweight at Morgan Stanley; PT 3 euros
* Givaudan Raised to Buy at Berenberg; PT 4,500 Swiss francs
* Hornbach Holding PT Raised to 116 euros at M.M. Warburg (+)
* Salmar Raised to Buy at SEB Equities; PT 595 kroner
* TGS Raised to Buy at Arctic Securities; PT 125 kroner
>>> Down
* Airtel Africa Cut to Hold at HSBC; PT 61.60 pence
* Gjensidige Cut to Hold at Pareto Securities; PT 210 kroner (+)
* Polymetal Cut to Equal-Weight at Alfa-Bank; PT 1,910 pence
* Polyus GDRs Cut to Equal-Weight at Alfa-Bank; PT $89.30
* Rio Tinto Cut to Hold at SocGen
* Schaeffler PT Cut to 4.80 euros at Morgan Stanley
* TP ICAP Cut to Hold at Canaccord; PT 275 pence (+)
* Valmet Cut to Hold at DNB Markets; PT 22 euros
>>> Initiation
* 1Spatial Rated New Buy at Liberum; PT 55 pence
* Adyen ADRs Rated New Overweight at KeyBanc; PT $2,054.15
* Cellavision Rated New Buy at Berenberg; PT 400 kronor
* FACC Rated New Hold at MainFirst; PT 5.10 euros
* LISI Rated New Hold at MainFirst; PT 18 euros
* Metro Bank Reinstated Market Perform at KBW; PT 76 pence
* Siemens Energy Rated New Buy at Deutsche Bank; PT 27 euros
* Siemens Energy Rated New Buy at Berenberg; PT 28 euros
* Siemens Energy Rated New Neutral at JPMorgan; PT 25 euros
* Siemens Energy Rated New Hold at Spin-Off Research; PT 24 euros
>>> Call
* 888’s ‘Phenomenal’ Results to Be Taken Well, Goodbody Says (+)
* Ferguson Proving More Resilient Than Expected, RBC Upgrades
* Givaudan Upgraded on Pandemic Outperformance, ESG: Berenberg
* Mondi Set to Benefit From Higher Kraftliner Prices: Jefferies
* Reckitt Asset Sale Could Fetch About 2 Billion Pounds: SocGen
* Valeo, Gestamp Preferred in Auto Suppliers, Avoid Schaeffler: MS