TheChek News Flow

Gapping down
In reaction to disappointing earnings/guidance:

• N/A.

Other news:

• SPR -5.2% (in sympathy with Boeing production cut; although - will maintain its 737 deliveries to Boeing (BA) at the current rate of 52 shipsets per mont)
• BA -4.1% (temporarily cut 737 MAX production rate from 52 airplanes per month to 42 airplanes per month starting in mid-April; will establish committee to review plane design and development)
• OCUL -2% (entered into $50 mln Open Market Sale Agreement)
• TTNP -1.9% (files for $50 mln mixed securities shelf offering)
• SPPI -1.9% (files for $150 mln mixed securities shelf offering)
• ATI -1.9% (BA sympathy)
• HXL -1.2% (BA sympathy)
• XLRN -1.1% (announces departure of Chief Medical Officer)
• UTX -0.9% (BA sympathy)

Analyst comments:

• GE -5.7% (downgraded to Underweight from Neutral at JP Morgan)
• ROKU -5.2% (downgraded to Sell from Neutral at Citigroup)
• RDFN -2.6% (downgraded to Neutral from Positive at Susquehanna)
• MU -2.2% (downgraded to Market Perform at Cowen)
• CLX -2% (downgraded to Underweight from Neutral at JP Morgan)
• HOG -1.4% (downgraded to Market Perform from Outperform at Wells Fargo)
• LUV -1.4% (downgraded to Mkt Perform from Outperform at Raymond James)
• AYR -1.2% (initiated with a Sell at Goldman)
• SBUX -1.1% (downgraded to Neutral from Buy at UBS)

Gapping up
In reaction to strong earnings/guidance:

• N/A.

M&A news:

• VSM +2.1% (received a revised proposal from Merck KGaA (MKKGY) to acquire Versum for $53/share) . 

Select metals/mining stocks trading higher:

• SBGL +4.3%, HMY +3.1%, GOLD +1.3%, RIO +1.2%, MTL +1%, BHP +0.7%, BBL +0.7%

Other news:

• NBEV +11.7% (files for $200 mln mixed securities shelf offering)
• ALNY +2.1% (Alnylam Pharma and Regeneron Pharma (REGN) announce collaboration to discover, develop and commercialize new RNA interference therapeutics for a broad range of diseases by addressing disease targets expressed in the eye and central nervous system)
• CTST +1.8% (announces that its cultivation and processing permit under Health Canada Cannabis Regulations was amended to include the final 20% of its Phase 2 expansion
• DXC +1.5% (BMW (BMWYY) signs agreement with DXC Technology to accelerate driverless car development)
• TSLA +1% (continued strength from Friday)

Analyst comments:

• Z +5% (upgraded to Outperform from Market Perform at Cowen)
• ARDX +4.9% (initiated with a Overweight at Piper Jaffray)
• SNAP +4.8% (upgraded to Outperform at RBC Capital Mkts)
• PSTG +2.8% (upgraded to Outperform at Cowen)
• AMC +1.9% (upgraded to Buy from Neutral at B. Riley FBR)
• SYMC +1.9% (upgraded to Buy from Neutral at Goldman)
• WYNN +1.8% (upgraded to Buy from Hold at Jefferies)
• PII +1.6% (upgraded to Overweight from Sector Weight at KeyBanc Capital Markets)
• STX +1.4% (upgraded to In-line from Underperform at Evercore ISI)
• PG +0.7% (upgraded to Outperform from Market Perform at Wells Fargo)

Early premarket gappers

Gapping up:

• FRO +8.9%, Z +5.4%, RIOT +5.2%, AVEO +3.7%, GLUU +3.4%, STMP +3.2%, HMY +3.1%, SBGL +2.8%, ICL +2.1%, NVO +1.8%, CHK +1.8%, PRGO +1.5%, STX +1.5%, OIS +1.4%, TSLA +1.2%, NVS +1.1%, PG +1%, MTL +1%, RIO +0.9%, DNR +0.8%, GOLD +0.7%

Gapping down:

• GE -5.6%, JKS -5.4%, BA -4.1%, TTM -3.3%, XNET -2.3%, CHA -1.9%, MU -1.8%, CLX -1.7%, SPNS -1.4%, SBUX -1.2%, AYR -1.2%, JD -0.9%, WPP -0.8%, LRCX -0.8%, VIPS -0.6%, AMD -0.6%, BABA -0.6%