>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:

  • PEP +3%

M&A news:

  • MIME +0.6% (acquires Ataata)
  • SHPG +0.5% (Shire plc acquisition by Takeda (TKPYY) receives unconditional clearance from the FTC)

Other news:

  • OCX +60.7% (reports 'encouraging' new study results for lung cancer blood test)
  • XLRN +7.6% (Celgene and Acceleron announce Luspatercept achieved primary and all key secondary endpoints in Phase III BELIEVE study)
  • MNOV +7.5% (reports new clinical data from subgroup analyses of completed clinical trial of MN-166)
  • CBPO +4.7% (Ping An Insurance said to be weighing a rival bid for CBPO, according to Bloomberg)
  • KMDA +3.8% (receives positive scientific advice from the EMA's CHMP related to the development plan for its proposed pivotal Phase 3 study for Inhaled Alpha-1 Antitrypsin therapy)
  • TSLA +2.6% (reports that the company could be planning a China plant that would have a 500k car/year capacity)
  • SFUN +2.4% (Fang signs non-binding memorandum to acquire 10% equity interest in Chongquing Wanli New Energy for RMB200 mln)
  • CELG +2.1% (Celgene and Acceleron announce Luspatercept achieved primary and all key secondary endpoints in Phase III BELIEVE study)
  • NOK +0.9% (Nokia and China Mobile (CHL) sign one-year frame agreement - valued at up to EUR 1 bln - to support the Chinese mobile operator's transition to a future-oriented network infrastructure), . 

Analyst comments:

  • KBH +4.4% (upgraded to Positive from Neutral at Susquehanna)
  • CASA +4.3% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
  • SFIX +3.8% (initiated with Overweight at KeyBanc Capital Mkts)
  • HEAR +2% (initiated with a Buy at DA Davidson)
  • CHKP +2% (upgraded to Buy from Neutral at BTIG Research)
  • WYNN +1.5% (upgraded to Buy from Hold at Stifel)
  • FCAU +0.7% (upgraded to Buy from Neutral at UBS)
  • WTW +0.6% (initiated with Overweight at KeyBanc Capital Mkts; tgt $115)

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:

  • WHD -4.5%, (also provides prelim Q2 expectations with revs of $136.0-139.0 mln vs. $126.60 mln Capital IQ Consensus Estimate, net income of $40.6-42.4 mln, Adjusted EBITDA of $54.0 -56.0 mln; is selling 10,000,000 shares of Class A common stock)
  • TSM -1.9%, (June Revs)

Other news:

  • DAC -4% (files for 99,342,271 share common stock offering by selling shareholders)
  • DEPO -2.6% (is currently engaged in settlement discussions with Purdue Pharma in connection with ongoing patent infringement litigation)
  • LOXO -2.1% (attributed to block trade pricing)
  • ADMP -1.8% (files for $150 mln mixed securities shelf offering)

Analyst comments:

  • APTI -2.1% (downgraded to Sector Weight from Overweight at KeyBanc Capital Mkts)
  • CERN -2% (downgraded to Underperform from In-line at Evercore ISI)
  • TEX -1.8% (downgraded to Underperform from Neutral at Robert W. Baird)
  • WMGI -1.7% (downgraded to Market Perform from Outperform at BMO Capital Markets)
  • BIIB -1.6% (downgraded to Neutral from Outperform at Robert W. Baird )
  • EBAY -1.6% (downgraded to Hold from Buy at SunTrust)
  • CMG -1.3% (downgraded to Underperform from Neutral at Mizuho)
  • JWN -1.1% (downgraded to Sector Weight at KeyBanc Capital Mkts)
  • AMT -1% (downgraded to Neutral from Overweight at JP Morgan)
  • URBN -0.8% (downgraded to Sector Weight at KeyBanc Capital Mkts)
  • SQ -0.7% (assumed/downgraded at Perform (from Outperform) at Oppenheimer)

>>> US Early premarket gappers


Early premarket gappers

Gapping up:

  • OCX +55.7%, XLRN +12.9%, MNOV +5.3%, CBPO +3.6%, HEAR +2.6%, SFUN +2.4%, DNLI +1.9%, PEP +1.7%, CELG +1.3%, SFIX +1.3%, WTW +0.9%, AVEO +0.7%, MIME +0.6%, TSM +0.6%, AABA +0.5%, SHPG +0.5%

Gapping down:

  • WHD -8.7%, DAC -4%, DEPO -2.6%, LOXO -2.2%, URBN -1.1%, ADMP -0.6%, JWN -0.6%