>>> US After Hours Summary: GPRO -17%, AXTI -1



After Hours Summary: GPRO -17%, AXTI -12%, TSLA -4% following guidance/sales, EPRT +4.6% / CLF +4% on S&P Small Cap 600 addition news

After Hours Gainers:

Companies trading higher in after hours in reaction to news: PBYI +9.5% (announces FDA approval of its labeling supplement for NERLYNX for the extended adjuvant treatment of HER2-positive early stage breast cancer), EYPT +4.8% (announced that the co's permanent and specific J-Code for YUTIQ is now in effect), EPRT +4.6% / CLF +4% (to join S&P Small Cap 600), OKTA +1.2% / CRWD +0.9% (coverage transferred/upgraded to Buy from Hold at SunTrust), ZS +0.7% (initiated with a Buy at SunTrust), TWO +0.5% (initiated with a Outperform at RBC Capital Mkts)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance: GPRO -17.3%, AXTI -11.9% (lowers Q3 revenue guidance below consensus due to a weaker than expected demand environment), RECN -5.6% (ticking lower), TSLA -3.8% (reports Q3 deliveries 97K, just shy of estimates; reports record net orders, increased backlog), BBBY -1.9%, CLX -0.9% (unveils IGNITE Strategy at Analyst Day; sets long term financial gols, confirms FY20 guidance cut)

Companies trading lower in after hours in reaction to news: CIO -4% (commences public offering of 6.0 mln shares of common stock; intends to use proceeds to repay debt and for working capital purposes), DBX -0.4% (Chief Technology Officer Quentin Clark to step down)

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:

  • UNFI -18.7%, SFIX -8.5%, RPM -2.5%

M&A news:

  • PGNX -5.5% (to be acquired by Lantheus (LNTH) in all-stock deal)

Select metals/mining stocks trading lower:

  • RIO -3.2%, BHP -2.8%, MT -2.1%, FCX -1.2%, X -1.1%

Select oil/gas related names showing early weakness:

  • RDS.A -1.9%, TOT -1.9%, BP -1.7%, XOM -0.9%, SLB -0.6%, MPC -0.5%

Other news:

  • GO -8.7% (commences secondary offering by selling shareholders of 13 mln shares of common stock)
  • CLLS -3.6% (Cellectis and Lonza announce manufacturing service agreement)
  • SRPT -2.7% (competitor NS Pharma files with FDA for DMD candidate)

Analyst comments:

  • ETFC -4% (downgraded to Underweight from Overweight at Barclays)
  • MNST -3.4% (downgraded to Neutral from Buy at Guggenheim)
  • ATVI -2.6% (downgraded to Underperform from Mkt Perform at Bernstein)
  • SCHW -1.6% (downgraded to Underweight from Overweight at Barclays)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:

  • LNDC +6.9%, LEN +3.2%, NG +1.3%

M&A news:

  • TSG +41.8% (The Stars Group agrees to merge with Flutter Entertainment in all-share deal)  

Other news:

  • VHC +15.5% (confirms Court of Appeals denied several motions stemming from ongoing legal proceedings between VirnetX, Apple (AAPL), and Cisco Systems (CSCO))
  • AIMT +11.4% (Following survey, Piper Jaffray suggests potential for higher than expected Palforzia revenue in the realm of $1.1 bln in fiscal 2020, $1.9 bln in fiscal 2021), NEXT +6.8% (issued $15 mln of common stock to affiliate of Bechtel Oil, Gas and Chemicals at $7.08 per share)
  • MGI +4.1% (Metropolitan Commercial Bank announces partnership with MoneyGram through debit card deposit service)
  • OCUL +2.4% (Ocular Therapeutix announces permanent J-Code for DEXTENZA, effective October 1)
  • CALA +2.3% (announces acceptance of two abstracts for presentation at the 2019 SITC Annual Meeting)
  • HRTX +1.1% (announces positive topline results from Phase 3b clinical study of HTX-011 in total knee arthroplasty)
  • SRNE +1% (entered into $75 mln Equity Distribution Agreement)
  • FOLD +1% (announces additional positive results from a global Phase 1/2 clinical study (ATB200-02))

Analyst comments:

  • N/A

>>> US Early premarket gappers

Early premarket gappers

Gapping up:

  • TSG +43.7%, VHC +22.6%, AIMT +8%, LNDC +6.9%, NEXT +6.8%, CALA +4.2%, MGI +4.1%, LEN +3.2%, HMY +2.8%, OCUL +2.4%, NBL +2.3%, SBGL +1.9%, DO +1.5%, NG +1.3%, AU +1.1%, AG +1.1%, SRNE +1%, GOLD +0.8%

Gapping down:

  • UNFI -18.7%, SFIX -8.9%, GO -5%, RIO -3.2%, ATVI -3%, BHP -2.7%, RDS.A -2.2%, BP -2%, SAP -1.7%, FCX -1.6%, BABA -1.5%, AMD -1.4%, MU -1.4%, MT -1.3%, GE -1.3%