After Hours Summary: TWTR -3.7% falls on account hacks; DELL +7.4% up nicely as it confirms it's exploring a potential spin-off of VMW; AA +6.1% up on earningsAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: AA +6.1%, HIG +3.1%, OI +0.1%
Companies trading higher in after hours in reaction to news: DELL +7.4% (Dell confirms it's exploring a potential spin-off of VMW stake), RTIX +5.3% (receives all necessary approvals for sale of OEM business), SPCE +5% (names new CEO), AZN +3.8% (AZN partner Oxford's COVID-19 vaccine candidate generates immune response in Phase I human trials), GAN +3.2% (reports June 2020 Internet gambling update for NJ), DKNG +2.4% (launches Casino product suite in West Virginia), VMW +2.4% (Dell confirms it's exploring a potential spin-off of VMW stake), RDFN +2% (says home sales exceed pre-pandemic levels for the first time), CLGX +0.9% (discloses that the FTC is conducting an investigation of the proposed acquisition), GD +0.8% (awarded $250 mln Army contract), OI +0.1% (to divest its Australia and New Zealand business unit; also guides EPS lower)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: SNBR -2.6%
Companies trading lower in after hours in reaction to news: TCDA -36.6% (provides regulatory update for veverimer; FDA has identified deficiencies), APTO -8.1% (stock offering), INMB -6.1% (stock offering), BCEL -5% (stock offering), CYTK -4.9% (announces $150 mln common stock offering), TWTR -3.7% (falls on headlines of high profile Twitter account hacks), AAL -3.1% (warns 25K employees of potential job cuts; also says June passenger revs down more than 80% yr/yr), IAC -0.8% (releases letter to shareholders)
Gapping down
In reaction to disappointing earnings/guidance:
- ASML -1.6%, BK -0.4%
Other news:
- ZYXI -11.9% (prices offering of 2,500,000 shares of its common stock at $22.00 per share)
- ADPT -5.2% (commences public offering of 8 mln shares, 2 mln of which were from selling shareholder; also files for mixed securities shelf offering)
- VHC -4.4% (confirms receipt of Patent Trial and Appeal Board decisions)
- VXX -2.6% (trading lower with US futures up over 1%)
Analyst comments:
- FTNT -2.2% (downgraded to Neutral from Buy at Goldman)
- SLM -0.6% (downgraded to Neutral from Overweight at JP Morgan)
- GWPH -0.5% (downgraded to Hold from Buy at Stifel)
Gapping up
In reaction to strong earnings/guidance:
- ORGO +34%, LCII +10.4% (guides Q2 sales well above expectations), GS +4.1%, USB +2.4%
Select ETFs showing strength:
- XLE +2.5%, IWM +2.4%, XLF +2.2%, DIA +1.7%, SPY +1.2%, QQQ +0.5%
Other news:
- VBIV +18.2% (extends momentum from Tuesday regular session)
- MRNA +17.9% (confirms publication of interim results from Phase 1 study of COVID-19 vaccine candidate)
- TXMD +9.4% (TherapeuticsMD and Nurx expand access to ANNOVERA)
- PRQR +7.9% (enters into $30 mln convertible debt financing with Pontifax)
- PVH +3.9% (to streamline N American operations, includes exit from Heritage Brands)
- STNG +3.9% (reports specific insider buy transactions)
- FANG +2.5% (reports 2Q20 production; revises FY20 production guidance lower)
- ORTX +2.5% (entered into two worldwide royalty-bearing license agreements with GlaxoSmithKline (GSK))
- NVCR +2.5% (entered into a clinical trial collaboration agreement with Merck to develop Tumor Treating Fields together with MSD's anti-PD-1 therapy KEYTRUDA for treatment of non-small cell lung cancer)
- GSK +2.4% (FDA advisory committee votes in favor of positive benefit/risk profile)
- SIRI +2.1% (approves $2 bln increase to stock repurchase program)
- BDX +1.7% (announces the Government has committed to use of BD Veritor Plus system and 15-minute SARS-CoV-2 test kits)
- FSM +1.6% (reports Q2 production)
- AAPL +1.4% (The General Court of the EU annuls decision taken by the EU commission regarding the Irish tax rulings against Apple; also - target raised to $450 at Needham)
- MDT +1% (acquires Medicrea)
Analyst comments:
- GPS +6.3% (upgraded to Outperform from Sector Perform at RBC Capital Mkts)
- HBI +5.3% (upgraded to Strong Buy from Mkt Perform at Raymond James; upgraded to Neutral from Underperform at BofA Securities), ALLY +4.6% (upgraded to Overweight from Neutral at JP Morgan)
- HRB +4.4% (upgraded to Buy from Neutral at Northcoast)
- PUMP +4.3% (upgraded to Outperform from Market Perform at Cowen)
- HAL +3.4% (upgraded to Outperform from Market Perform at Cowen)
- SLB +3% (upgraded to Outperform from Market Perform at Cowen)
- MT +2.8% (initiated with a Buy at Goldman)
- HOG +2.7% (upgraded to Buy from Neutral at UBS)
- AR +2.6% (upgraded to Neutral from Sell at MKM Partners)
- WFC +2.5% (upgraded to Outperform from In-line at Evercore ISI)
- TDY +2.2% (upgraded to Buy from Hold at Jefferies)
- NMIH +1.9% (upgraded to Overweight from Neutral at JP Morgan)
Early premarket gappers
- Gapping up:
- VBIV +18.6%, MRNA +13.3%, PRQR +10.8%, LCII +10.4%, STNG +5.5%, SIRI +2.7%, PVH +2.5%, FANG +2.1%, GSK +2%, USB +1.7%, FSM +1.6%, AAPL +1.6%, IWM +1.6%, XLE +1.3%, XLF +1.2%, ADPT +1%, DIA +1%, PG +0.8%, SPY +0.8%, MDT +0.7%, BK +0.5%
- Gapping down:
- ZYXI -13.2%, VHC -8.8%, ASML -1.8%, VXX -1.7%, AMAT -0.7%, UNH -0.5%