TheChek News Flow

Gapping down
In reaction to disappointing earnings/guidance:

• TLRY -13.4%, FOE -13.1%, PGEN -5.4%, AZO -4.7%, ZGNX -3.8%, ZIOP -2.7%, APPF -2.6%, FGEN -2.5%, GSKY -2.2%, AMBC -2%, PNM -2%, TDW -1.5%, MCHP -1.4% (guides lower due to coronavirus, also withdraws prior EPS guidance), MDRX -1.4%, TGT -1.1%

Other news:

• KPTI -7.5% (stock offering)
• MRNA -6.9% (announced updated plans for its Manufacturing & Digital Day event as a precautionary measure related to travel amid the evolving novel coronavirus situation; The in-person component of the event will no longer be held; the co will continue with the planned webcast of the program)
• TLND -3.4% (to delay 10-K)
• CCL -1.5% (issues statement on cyber incident)
• EHTH -0.9% (commences public offering of 1.5 mln shares of common stock)

Analyst comments:

• CRON -7.6% (downgraded to Hold from Buy at Stifel)
• BUD -3.4% (downgraded to Neutral from Buy at BofA/Merrill)
• BCS -2.5% (downgraded to Hold from Buy at Societe Generale)

Gapping up
In reaction to strong earnings/guidance:

• IGT +16%, WIFI +13.9%, ATSG +9.1%, LVGO +6.7%, SE +5.6%, EVRI +5.3%, KSS +4.6%, SQM +1.8%, PI +1%

M&A news:

• QGEN +16.3% (Thermo Fisher Scientific (TMO) to acquire QIAGEN N.V. in transaction that values QIAGEN at ~$11.5 billion; expected to be immediately accretive)
  • TMO +4.1%
• CNR +3.5% (acquires Kleary Masonry; terms not disclosed)
• HPQ +1.1% (Xerox confirms tender offer to acquire HPQ for $24/sh)
  • XRX +0.7%

Other news:

• GNMK +22.5% (announces global shipments of ePlex Research Use Only test kits designed to detect SARS-CoV-2 virus)
• OMER +15% (reports updated clinical data from narsoplimab HSCT-TMA clinical trial; results surpass the FDA-agreed efficacy threshold)
• GNW +13.4% (announces agreement in principle with NYDFS regarding proposed Oceanwide acquisition of GNW's NY-domiciled insurance co)
• SIGA +4.3% (announces collaboration with Turnstone Biologics to supply TPOXX)
• UNIT +2.6% (to delay 10-K, lowers dividend)
• TERP +2.6% (to delay 10-K)

Analyst comments:

• TSLA +6.9% (upgraded to Mkt Outperform from Mkt Perform at JMP Securities)
• WW +3.3% (upgraded to Buy from Neutral at Citigroup)
• AMD +2.2% (upgraded to Overweight from Neutral at Piper Sandler)
• UPS +1.9% (upgraded to Buy from Hold at Deutsche Bank)
• YETI +1.3% (upgraded to Buy from Neutral at Citigroup)
• JD +0.7% (upgraded to Buy from Hold at China Renaissance)

Early premarket gappers

• Gapping up:
  • IGT +17.5%, GNMK +16.8%, WIFI +15.8%, OMER +15.2%, GNW +13.4%, ATSG +9.1%, LVGO +8.4%, SE +6.1%, KSS +5%, SIGA +4.3%, CNR +3.5%, UNIT +2.6%, TERP +2.6%, EVRI +2.2%, HPQ +2%, SQM +1.8%, MAXR +1.1%, PI +1%, XRX +0.8%, LOGI +0.8%, V +0.6%
• Gapping down:
  • TLRY -11.7%, FOE -8.6%, KPTI -7.4%, PGEN -5.4%, ZGNX -3.8%, TLND -3.4%, ZIOP -2.7%, FGEN -2.5%, FGEN -2.5%, GSKY -2.2%, CCI -2.1%, APPF -2%, AMBC -2%, PNM -2%, TDW -1.5%, CCL -1.4%, MDRX -1.4%, TGT -1%, EHTH -0.9%, MCHP -0.8%, OESX -0.6%, FATE -0.5%