TheChek News Flow

Gapping down
In reaction to disappointing earnings/guidance:

• SHLD -10%, CIEN -7.9%, DLTR -7.6%, DG -5.9%, BOX -5.3%, SMTC -0.8%

Other news:

• CLSD -21.6% (after reporting Phase 2 data)
• CRSP -14.1% (CRISPR Therapeutics and Vertex provide update on FDA review of Investigational New Drug Application for CTX001 for the treatment of sickle cell disease - placed on clinical hold)
• VCEL -5.4% (to offer and sell, subject to market and other conditions, 3,750,000 shares of its common stock in an underwritten public offering)
• CHMI -4.8% (prices 2.75 mln common stock offering total expected gross proceeds of $49.6 million)
• CRH -4.2% (will establish a new global Building Products division effective 1 January 2019; initiated a strategic review of its Europe Distribution busines)
• NTLA -3.4% (lower after FDA places CRSP's sickle cell gene therapy on clinical hold)
• EDIT -3.1% (lower after FDA places CRSP's sickle cell gene therapy on clinical hold)
• ABBV -2.8% (releases preliminary results of its modified Dutch auction tender offer)
• VRTX -1.7% (CRISPR Therapeutics and Vertex provide update on FDA review of Investigational New Drug Application for CTX001 for the treatment of sickle cell disease - placed on clinical hold)

Analyst comments:

• MU -2.8% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
• PCAR -1.3% (downgraded to Neutral from Buy at Goldman)

Gapping up
In reaction to strong earnings/guidance:

• TLYS +14.7%, EXPR +13.4%, NGL +10.3%, (also signs definitive agreement to sell remaining propane business for $900 mln), FRO +9%, TECD +7.1%, BURL +5.2%, KEYS +3.2%, KLIC +1.3%, PVH +0.5%

Select metals/mining stocks trading higher:

• X +5.7%, AKS +5.2%, CENX +3.5%, NUE +2.8%, AA +2.5%, RS +1.6%, STLD +1.2%, MT +1.1%, . 

Other news:

• CRIS +27.2% (granted Fast Track designation for the development of fimepinostat in patients with relapsed or refractory (R/R) diffuse large B-cell lymphoma by the FDA), SESN +8.9% (prices offering of 22,222,223 shares of its common stock at $1.80 per share), TZOO +5% (still checking), ALV +3.7% (provides guidance metrics ahead of investor day), TTOO +3.7% (prices 6.1 mln common stock offering at $7.50/share), LIVN +3.6% (confirms the U.S. Centers for Medicare & Medicaid Services' is reconsidering its national coverage determination for VNS Therapy for treatment-resistant depression ), SGMO +3.4% (announced today that management will present a corporate overview at the 2018 Jefferies Global Healthcare Conference), GLPG +3% (Gilead Sciences and Galapagos report Phase 2 equator study of filgotinib in psoriatic arthritis achieves primary endpoint; will progress into Phase 3), BCO +2.6% (agreed to purchase Dunbar Armored, the fourth largest U.S. cash management company, for approximately $520 million in cash), SNDX +2.1% (Syndax Pharmaceuticals and Nektar Therapeutics to collaborate in immuno-oncology clinical trial that will evaluate combination of entinostat with NKTR-214 in patients with PD-1 refractory melanoma), GBT +1.5% (ticking higher after FDA places CRISPR and Vertex's sickle cell disease gene therapy on clinical hold), APTO +1.4% (enters $20 mln common share purchase agreement w/ Aspire Capital), CARS +1.2% (after seeing late pop higher on NYPost article suggesting the company hired JPMorgan to consider selling itself), BLUE +1.2% (boosted by CRSP / VRTX news; also assumed with Overweight ratings at Piper Jaffray), FPRX +1% (Five Prime Therapeutics enters into a collaboration with Roche to develop immunohistochemistry (IHC) companion diagnostic assays for use with Five Prime's first-in-class investigational drug candidates), . 

Analyst comments:

• GLW +2.1% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
• MOMO +1.6% (upgraded to Buy from Neutral at UBS)
• BIIB +1% (upgraded to Buy from Hold at Canaccord Genuity)

Early premarket gappers

Gapping up:

• TLYS +14.7%, EXPR +13.9%, NGL +13.1%, TECD +8.8%, FRO +8.6%, AKS +5.7%, TZOO +5%, X +4.8%, LIVN +3.6%, SGMO +3.4%, CENX +3.3%, KEYS +3.2%, GLPG +3%, BURL +2.9%, NUE +2.2%, SNDX +2.1%, STLD +2%, AA +1.8%, GBT +1.5%, ULTA +1.4%, CARS +1.2%, BLUE +1.2%, FPRX +1%, RUN +0.9%, GILD +0.5%, MT +0.5%

Gapping down:

• CRSP -13.9%, SHLD -10%, CIEN -6.9%, BOX -6.8%, DG -6.4%, VCEL -5.4%, CHMI -4.8%, NTLA -3.7%, EDIT -3.1%, ABBV -2.4%, VRTX -1.7%, SYMC -0.7%