Gapping down
In reaction to disappointing earnings/guidance:
- FNSR -0.5%
M&A news:
- GSK -6.8% (To acquire TSRO for $75/share); to divest Horlicks and other Consumer Healthcare nutrition products to Unilever (UN, UL); total consideration valued at approximately £3.1 billion)
Other news:
- BLUE -8% (clinical studies of LentiGlobin Gene Therapy)
- CFRX -4.3% (files for $100 mln mixed shelf offering)
- AUPH -3.5% (entered into $30 mln open market sale agreement with Jefferies)
- KIRK -2.4% (pulling back following last week's strength)
Analyst comments:
- VZ -0.5% (downgraded to Neutral from Overweight at JP Morgan)
Gapping up
In reaction to strong earnings/guidance:
- RMR +1%
M&A news:
- TSRO +59.4% (to be acquired by GSK for $75/share in cash)
- NBEV +15.8% (to merge with Morinda for total consideration of $85 mln in cash/stock)
- TRCO +9.9% (to be acquired for $46.50/share in a cash transaction that is valued at $6.4 billion by Nexstar Media (NXST) )
Select FAANG related names showing strength:
- STM +6%, AMD +5.2%, NVDA +5.1%, AMZN +4.7%, MU +4.2%, NFLX +3.6%, AAPL +3.3%, GOOG +2.9%, FB +2.1%
Select Macua gaming stocks trading higher:
- LVS +6.3%, WYNN +6%, MLCO +5.4%, MGM +4%
Select oil/gas related names showing strength:
- PBR +4.3%, DVN +4%, HAL +2.8%, RDS.A +2.5%, BP +2%, TOT +1.9%
Other news:
- CLVS +30.7% (in sympathy with peer TSRO)
- GBT +28.6% (plans to submit NDA after U.S. FDA agrees with proposal on an accelerated approval pathway for voxelotor for the treatment of sickle cell diseas)
- VNDA +15.2% (announces 'positive' phase ii study results for tradipitant in patients with gastroparesis; Tradipitant met the primary endpoint)
- ARGX +8.9% (announces exclusive, global collaboration and license agreement for cusatuzumab with J&J (JNJ) affiliate Cilag GmbH; also presents detailed data from its Phase 2 clinical trial of efgartigimod)
- KPTI +7.7% (reports positive top-line Phase 2b SADAL data for Selinexor in patients with diffuse large B-cell lymphoma)
- NIO +4.8% (November monthly delivery and production update)
- BA +4.7% (positive Barrons article)
- ARQL +4.6% (prelim results from its Phase 1 dose escalation study for ARQ 531)
- GLYC +3.8% (presents new data on uproleselan-treated high risk patients with both relapsed/refractory and newly diagnosed AML) GM +3.5% (positive Barrons article)
- IMGN +3.4% (reports initial data for CD123-Targeting IMGN632 demonstrating encouraging anti-leukemia activity and tolerable safety profile) .
Analyst comments:
- NDLS +7.5% (upgraded to Outperform from Sector Perform at RBC Capital Mkts)
- ROKU +5.2% (upgraded to Buy from Neutral at DA Davidson)
- CAT +4.9% (upgraded to Buy from Neutral at BofA/Merrill)
- AVGO +3.3% (upgraded to Buy from Neutral at B. Riley FBR)
- AGCO +2.6% (upgraded to Neutral from Underperform at BofA/Merrill)
- FSLR +2.6% (upgraded to Neutral from Sell at Goldman)
was out this week end for thise who missed it
From: LAURENT CHEKROUN (MAKOR SECURITIES LO) At: 12/02/18 00:30:59
Subject: >>> Acadia in ongoing talks with KKR, sources sayAcadia in ongoing talks with KKR, sources say01 DEC 2018KKR continues to work on a possible take-private of behavioral health company Acadia Healthcare [NASDAQ:ACHC], two sources familiar with the situation said.A buyout will require a significant equity check of USD 2.5bn to USD 3bn and discussions to firm up this equity financing are ongoing, the sources said.If a deal is reached, it may come in the next few weeks and value Acadia’s shares in the high USD 30s to low USD 40s range, they said. The stock closed Friday at USD 33.97.Even with softening of the credit markets, the deal could see a leverage of 7x to 7.5x EBITDA, the two sources said. Acadia has estimated it may report up to USD 610m in adjusted EBITDA for 2018.Earlier this month, Acadia shares plunged after CNBC reported that a deal to buy the Franklin, Tennessee based company did “not look particularly promising.” The NY Post subsequently reported that talks with KKR remained ongoing.In October, Reuters reported that Acadia was talking with private equity firms about a deal, including KKR and TPG. The two sources said TPG has been pencils down. It remains possible that a suitor like TPG could get active again given where Acadia shares are currently trading, they said.Acadia operates over 580 behavioral healthcare facilities in the US, UK and Puerto Rico, according to its website. It offers behavioral and addiction services from psychiatric hospitals to residential treatment centers and outpatient clinics.The company has around USD 3.2bn in long term debt and a USD 3bn market cap, putting its current valuation at around 10x EBITDA.Earlier this year, KKR took private Envision Healthcare for USD 9.9bn. Loans backing the Envision buyout have since declined in price along with other leverage loans, according to media reports, raising concerns about the strength of the leverage market.TPG and KKR declined to comment. Acadia did not respond to requests for comment.
--> +32%
From: LAURENT CHEKROUN (MAKOR SECURITIES LO) At: 12/03/18 13:51:42
Subject: >>> US Early premarket gappersEarly premarket gappersGapping up:
- AFMD +12.3%, ARGX +9.2%, NE +8.2%, SSL +7.3%, LVS +6%, SECO +5.8%, STM +5.5%, SOHU +5.5%, VNET +5.5%, SQ +5.5%, WYNN +5.1%, NXPI +5%, AMD +4.9%, NVDA +4.8%, DVN +4.8%, CMCM +4.7%, MT +4.5%, BGNE +4.2%, ROKU +4%, GM +4%, PBR +3.6%, BA +3.6%, AMBA +3.7%, AAPL +3.1%, QCOM +3%, FSLR +3%, HAL +2.8%, TSM +2.4%, SNAP +2.2%, FEYE +1.6%
Gapping down:
- SWCH -3.5%, KIRK -2.4%, SNY -1.9%, CHL -1.9%, FNSR -1.5%, FRO -1.1%, CRESY -1%, SLCA -0.6%, BUD -0.5%
Early premarket gappersGapping up:
- AMBA +13.7%, AFMD +12.3%, ARGX +9.2%, NE +8.2%, SSL +7.3%, LVS +6%, SECO +5.8%, STM +5.5%, SOHU +5.5%, VNET +5.5%, SQ +5.5%, WYNN +5.1%, NXPI +5%, AMD +4.9%, NVDA +4.8%, DVN +4.8%, CMCM +4.7%, MT +4.5%, BGNE +4.2%, ROKU +4%, GM +4%, PBR +3.6%, BA +3.6%, AAPL +3.1%, QCOM +3%, FSLR +3%, HAL +2.8%, TSM +2.4%, SNAP +2.2%, FEYE +1.6%
Gapping down:
- SWCH -3.5%, KIRK -2.4%, SNY -1.9%, CHL -1.9%, FNSR -1.5%, FRO -1.1%, CRESY -1%, SLCA -0.6%, BUD -0.5%
--> +5% preMarket