>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • QTM -21.7%, CBI -19.8%, DDS -15.5%, SYNC -15.4%, XTNT -15%, IAG-14.8%, BDSI -11.1%, DOOR -11.1%, FRTA -10.4%, XONE -9.9%, GV-8.7%, FRSH -8.1%, PTLA -6.9%, NTES -6.4%, SRRA -3.4%, DAR -2.9%,SGYP -2.5%, UHAL -2.2%, APRN -1.9%, M -1.9%, CYD -1.8%, MIDD-1.4%, BGNE -1%, (also commences offering of ADRs each representing 13 of its ordinary shares for a total value of $125 mln)
M&A news:
  • PPP -21.7% ( to sell its interest in the Black Fox mine and associated assets located near Timmins, Ontario to McEwen Mining (MUX) for $35 mln in cash; also reported earnings)
Other news:
  • ZFGN -11.2% (files for $150 mln mixed securities shelf offering )
  • DVAX -7.5% (prices 5 mln shares of common stock at $15.00 per share)
  • MVIS -6.5% ( intends to offer to sell shares of common stock in an underwritten public offering)
  • MX -5.9% (prices secondary offering of 4,088,978 shares of common stock at $11.10 per share)
  • ESPR -2% (prices 3.1 mln shares of common stock at $49.00 per share)
  • OPK -1.6% (continued volatility in pre-mkt)
  • MANU -1.5% (announced the offering of 4,250,000 of its Class A ordinary shares by Red Football )
  • FANG -1.4% (prices secondary offering of 3 mln shares of common stock by selling stockholders)
Analyst comments:
  • ACHN -1.9% (downgraded to Neutral from Outperform at Robert W. Baird)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:
  • XOG +18.6%, PFIE +17.9%, FBIO +17.3%, HDSN +16.8%, (Hudson Technologies to acquire Airgas' (ARG) subsidiary Airgas-Refrigerants in a transaction valued on a gross basis at approximately $220 million ),RADA +15.5%, ASYS +14.6%, QUIK +11.6%, PRGO +11.5%, ATHX +10%,ATHX +10%, XXII +8.5%, ONVO +7.2%, AEG +7.1%, LYV +6.7%, CPST+6.5%, QHC +6.5%, PAAS +6.2%, HPJ +6.1%, AOSL +5.8%, ALQA +5.7%,GOOS +5.5%, EAT +5%, HRTX +4.9%, HRTX +4.9%, (reaches agreement w/ the FDA on the desing/key elements for HTX-011's Phase 3 program; co expects to file an NDA for HTX-011 in 2018), PLNT +4.8%,GERN +4.7%, CCE +4.1%, YY +4%, PRTS +4%, SCON +3.9%, NNA +3.7%,CYCC +3.6%, BXE +3.6%, SENS +3.4%, RARX +3%, FOXA +2.9%, AMFW+2.6%, RESN +2.2%, CPA +2.2%, ALNY +2.1%, PIRS +2%, DIN +1.9%,EDIT +1.8%, (Editas Medicine achieves a second milestone under its collaboration with Juno Therapeutics (JUNO); co will receive $2.5 million for achieving this milestone), SLF +1.6%, (to commence a normal course issuer bid of up to 11.5 mln common shares), JACK+1.4%, SSRM +1.1%, CSRA +1%, EGLT +0.9%
M&A news:
  • SKLN +19.3% (Skyline Medical signs definitive merger agreement with CytoBioscience in transaction expected to close by September 30, 2017), .
Other news:
  • GLPG +17.5% (Galapagos NV announces positive topline results with its autotaxin inhibitor GLPG1690 in patients with idiopathic pulmonary fibrosis (IPF) in the FLORA Phase 2a trial )
  • ANTH +15.1% (receives orphan drug designation from the FDA for the treatment of Immunoglobulin A nephropathy)
  • AGTC +2% (filed an IND with the FDA to conduct a Phase 1/2 clinical trial of the company's gene therapy product candidate)
  • ACRX +1.5% (after closing near highs), .
Analyst comments:
  • SSYS +3.9% (upgraded to Buy from Neutral at Citigroup)
  • ATHM +0.9% (upgraded to Buy from Hold at Deutsche Bank)
  • CERN +0.8% (upgraded to Equal-Weight from Underweight at Morgan Stanley)

>>> Macy's beats by $0.01, reports revs in-line; reaffirms FY18 guidance (23.03

Macy's beats by $0.01, reports revs in-line; reaffirms FY18 guidance (23.03)
  • Reports Q2 (Jul) earnings of $0.48 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.47; revenues fell 5.4% year/year to $5.55 bln vs the $5.52 bln Capital IQ Consensus.
  • Comparable sales on an owned basis were down 2.8% vs. -3.3% ests... down 2.5% on an owned plus licensed basis; Inventory down 6.4%.
  • Co reaffirms guidance for FY18, sees EPS of $2.90-3.15, excluding non-recurring items, vs. $3.12 Capital IQ Consensus Estimate; sees FY18 revs down 3.2-4.3% to ~$24.7-25.0 bln vs. $24.69 bln Capital IQ Consensus; comps down 2.2-3.3%.
  • "We saw a notable contribution from the full execution of our new women's shoe and jewelry models and the continued successful testing of Backstage in store. We are excited about plans for fall, including the launch of a new loyalty program and the new marketing strategy, which we anticipate will further improve our sales trend in the back half of the year," said Jeff Gennette, Macy's president and chief executive officer. "We are working with a mindset of continuous improvement and will adapt our business in order to reach our goal of stabilizing the brick-and-mortar business while investing for accelerated growth in digital and mobile. Key to this strategy is engaging our customers with an improved experience that includes more elevated and exclusive assortments, a better integration of technology both online and in the store, and additional enhancements intended to drive traffic and sales. There is still work ahead of us, however, I'm encouraged by the progress we're making on overall performance."

>>> US Early premarket gappers

Early premarket gappers
Gapping up:
  • HDSN +21.9%, GLPG +21.1%, XOG +18.6%, PFIE +17.9%, FBIO +17.3%,ASYS +14.6%, BXE +14.2%, SKLN +14%, ANTH +13%, QUIK +11.6%,PRGO +10.2%, ONVO +9.1%, CHEF +8.6%, LYV +8%, AEG +6.7%, CPST+6.5%, QHC +6.5%, XXII +6.2%, AOSL +5.8%, ALQA +5.7%, SGMO +5.3%,HRTX +4.9%, HRTX +4.9%, PLNT +4.8%, GERN +4.7%, ATHX +4%, ATHX+4%, SCON +3.9%, CYCC +3.6%, EAT +3.6%, AMBC +3.5%, SENS +3.4%,KSS +3.4%, COGT +3.3%, GOOS +3.2%, SIEN +3%, RARX +3%, COLL+2.6%, PAAS +2.6%, BAM +2.6%, JACK +2.2%, CPA +2.2%, ALNY +2.1%,RESN +2%, PIRS +2%, SLF +1.6%, ACRX +1.5%, YY +1.3%, RGLD +1.2%,SSRM +1.1%, CSRA +1%
Gapping down:
  • BW -30.3%, QTM -22.4%, XTNT -19.6%, CBI -19.4%, SYNC -12.7%, ZFGN-11.2%, BDSI -11.1%, XONE -9.9%, DOOR -9.7%, GV -8.7%, FRSH -8.1%,DVAX -7%, SYRS -6.7%, MVIS -6.5%, NTES -5.6%, PEGA -5.1%, PTLA-4.8%, AQMS -4.8%, PPP -3.2%, DAR -2.9%, ACHN -2.7%, FOXA -2.7%,MX -2.5%, SGYP -2.5%, PBYI -1.9%, ACRS -1.8%, CYD -1.8%, FANG-1.7%, MANU -1.5%, IAG -1.5%, GXP -1.3%, BGNE -1%

>>> Dillard's reports Q2 (Jul) results, revs in-line; Q2 comps -1%

Dillard's reports Q2 (Jul) results, revs in-line; Q2 comps -1%
  • Reports Q2 (Jul) loss of $0.58 per share, may not be comparable to the Capital IQ Consensus of $0.20; revenues fell 1.7% year/year to $1.43 bln vs the $1.44 bln Capital IQ Consensus.
  • Total merchandise sales for the 13-week period ended July 29, 2017 were $1.385 billion and $1.403 billion for the 13-week period ended July 30, 2016. Total merchandise sales decreased 1% for the 13-week period ended July 29, 2017. Sales in comparable stores for the period decreased 1%.
  • Gross margin from retail operations declined 235 basis points of sales for the 13 weeks ended July 29, 2017 compared to the prior year second quarter primarily due to increased markdowns.

>>> Kohl's beats by $0.05, reports revs in-line

Kohl's beats by $0.05, reports revs in-line
  • Reports Q2 (Jul) earnings of $1.24 per share, $0.05 better than the Capital IQ Consensus of $1.19; revenues fell 0.9% year/year to $4.14 bln vs the $4.12 bln Capital IQ Consensus.
  • Comps -0.4% vs. 1.4% estimates and -1.8% last year.
  • "The traffic momentum that we saw in the combined March/April period accelerated in the second quarter. Though transactions for the quarter were lower than last year, July transactions increased. We are also excited by the sequential sales trend improvement in all our lines of business, all geographic regions, and in both our proprietary and national brand portfolios. Gross margin and SG&A expenses were consistent with our expectations and we are seeing benefits from our ongoing inventory initiatives and the early stages of our cost-saving initiative."
  • FY18 guidance from February (may be updated on the call): EPS $3.50-3.80; sales down 1.3% to up 0.7% to ~$18.44-18.82 bln; comps -2% to 0% and gross margin +10-15 bps.